It is not difficult to apply for a loan now, but it is also not easy. In the way of applying for a loan, guaranteeing a loan is also a kind of loan that many lenders will choose. However, many people are not clear about what responsibilities the secured loan guarantor should bear, so what responsibilities should the microfinance guarantor bear?

according to the current relevant laws and regulations in China, the guarantee liability is divided into general guarantee and joint and several liability guarantee.

general guarantee means that the guarantor assumes the guarantee responsibility, but does not assume the debt to the borrower through litigation. To put it simply, it has been stated in the guarantee that if the borrower fails to repay the debt, being responsible for the guarantee is a general guarantee.

Joint guarantee means that both the borrower and the guarantor are liable, regardless of whether the borrower has repayment ability. If the guarantee liability is not specified in the contract or the agreement is unclear, it is joint and several guarantee liability.

Therefore, if you are the guarantor of the loan, you must clearly write down what kind of guarantor you are, otherwise you will bear different responsibilities.