Don't worry too much, communicate with the company. Write a written agreement

1 You are the borrower. Before the loan term, you should repay the loan and pay interest. There is no objection to this.

2. According to the agreement between you and the company, the actual borrower is the company, and the actual payer of interest is also the company; But there must be a written agreement between you and the company.

3. If the repayment is due, the loan and interest must be repaid. If you are really unable to repay, the guarantor (your company) will compensate you;

From a practical point of view, you don't need money, you don't have to pay interest, and you won't lose anything, which is more beneficial to you; But legally speaking, the key is to have evidence. If the company can repay the loan, but the company can't, the lender (the bank or its arrival), you and the company have the obligation to repay. This is the risk that there are still some repayment obligations; As for the losses caused by this, we can only recover from the company.

Further reading: How to buy insurance, and what kind of insurance is good for these "pits"

2. What if the guarantor finds that the borrower is unable to repay during the guarantee period?

Execute the property first, and then repay it by the guarantor if it is not enough.

Third, the loan guaranteed by the insurance company is now unable to repay?

The insurance company is unable to repay the loan. It is suggested that you can explain the reasons with the insurance company first and solve them through consultation. However, if it is just a general policy cash value loan, if the lender cannot afford it, the insurance company will deduct the loan amount by deducting the remaining cash value of the policy. When the cash value is deducted, the guarantee will be invalid. However, if it is a policy credit loan, we must have a good attitude. If you really can't repay it through your own ability, you can seek the help of your family and friends. Don't use loans to support loans, try to repay them within the time agreed with the insurance company. Otherwise, if the policy credit loans overdue time is too long, and the lender has no good repayment will, it will affect the personal credit, resulting in credit stain.

4. What if the traffic accident is compensated by the insurance company?

After insurance compensation, you can negotiate repayment and transfer the debt to the insurance company or guarantee company. When an insurance company or guarantee company initiates recovery, it will adopt the principle of combining rigidity with flexibility. The repayment amount is generally not negotiable, but the repayment time and method can generally be negotiated. Recovery refers to the insurer's claim for compensation from a third party after compensating the insured for the losses caused by the insured accident. After the insurance payment, the insurance company or guarantee company will start the recovery.