1 The guarantor should not repay the lender's principal in a hurry. Because after guaranteeing loans overdue, the lending institution will generally make a dunning to the main lender first, and only when the main lender cannot repay the loan will the guarantor make a dunning. At this time, the guarantor also needs to urge the main lender to pay off the debt.
If both the main lender and the guarantor refuse to repay after being sued by the lending institution and lose the case, the main lender shall bear most of the repayment responsibilities, and the guarantor shall only bear joint and several repayment responsibilities. The guarantor may apply to the court to require the principal lender to mortgage the loan with its own assets.
If you have helped the principal lender to repay the debt, you should recover from the principal lender and ask the other party to return the debt to you as soon as possible.
: 1. What is a secured loan
1. Secured loan refers to the joint and several liability guarantee provided by a third party recognized by the lender when the borrower fails to provide the mortgaged (pledged) property in full. If the guarantor is a legal person, he must have the ability to repay all the principal and interest of the loan on his behalf and open a deposit account in a bank. If the guarantor is a natural person, he must have a fixed source of income, have sufficient compensation ability and have a certain margin in the loan bank; The guarantor and the creditor shall conclude a written guarantee contract. Where the guarantor changes, the guarantor must go through the formalities of guarantee change in accordance with the regulations.
2. Without the consent of the lender, the original guarantee contract shall not be revoked. A secured loan refers to a loan in which the borrower's property or the property of a third party is used as the loan guarantee according to the loan contract or the borrower's agreement, and the third party is jointly and severally liable for repayment when necessary.
2. Types of secured loans
According to the different ways of guarantee, it can be divided into: guarantee, mortgage and pledge (margin is rarely used).
1. secured loan: refers to the loan granted in the form of guarantee stipulated in the Guarantee Law of People's Republic of China (PRC). When the borrower fails to repay the loan, it promises that the third party will bear joint liability.
2. Mortgage loan: refers to the loan that is mortgaged by the property of the borrower or a third party and is issued in accordance with the mortgage method stipulated in the Guarantee Law of People's Republic of China (PRC).
3. Pledged loan: refers to a loan that is mortgaged by the movable property or rights of the borrower or a third party and is issued in the way of mortgage stipulated in the Guarantee Law of People's Republic of China (PRC).
According to the loan term, it is divided into short-term loans, medium-term loans and long-term loans. The specific division method is the same as the corresponding terms of credit loans.