Answer: If you sign a guarantee contract and people don't pay, you are basically finished.

Li needs to borrow money from him for business.

It means that it is ok to borrow money and provide a guarantor.

Li found his elder brother Zhang for many years.

Zhang is an honest man. He is usually quiet and at ease at work.

Knowing that Li was in trouble, he did not hesitate to sign the column of guarantor.

Coincidentally, a family of three brothers need to borrow money to do business together.

The company said: to take the company as the main borrower, your shareholders should sign a guarantee contract.

The three brothers signed a guarantee contract without saying anything.

More sadly, the boss coerced employees to sign guarantee contracts.

The boss wants to borrow money, but he can't find a guarantor. He was so angry that he threatened his employees: if you don't sign, you will be fired and get out.

Doing business has a life cycle. The market environment has changed, the production technology has been upgraded, and personal decision-making mistakes may lead to business failure.

In the above situation, as long as the debtor fails to operate and has no money, the guarantor will suffer immediately.

It is generally useless to say that you are unwilling, cheated, persecuted and ignorant of the law.

Never be a guarantor ~

Second, the bank loan guarantor's responsibility

Legal responsibilities of the loan guarantor:

Article 12 Where there are more than two guarantors for the same debt, the guarantors shall bear the guarantee liability according to the guarantee share agreed in the guarantee contract.

If there is no agreement on the share of guarantee, the guarantor shall bear joint and several liability, and the creditor may require any guarantor to bear all the guarantee liability, and the guarantor is obliged to ensure the realization of all the creditor's rights.

The surety who undertakes the suretyship liability has the right to recover from the debtor, or ask other sureties who undertake joint liability to pay off their share.

In this regard, Article 7 of China's Guarantee Law stipulates that legal persons, other organizations or citizens who have the ability to pay off debts on their behalf may act as guarantors.

Article 21 The scope of guarantee includes the principal creditor's rights and interest, liquidated damages, damages and expenses for realizing creditor's rights. If there are other provisions in the guarantee contract, such provisions shall prevail.

Where the parties have not agreed on the scope of guarantee or the agreement is unclear, the guarantor shall be liable for all debts.

Where the parties have not agreed on the scope of guarantee or the agreement is unclear, the guarantor shall be liable for all debts.

During the guarantee period, if the creditor transfers the principal creditor's rights to a third party according to law, the guarantor will continue to bear the guarantee responsibility within the original guarantee scope; If there are other provisions in the guarantee contract, such provisions shall prevail.

During the guarantee period, if the creditor allows the debtor to transfer the debt, it shall obtain the written consent of the guarantor, and the guarantor shall no longer be liable for the debt transferred without his consent.

Where the creditor and the debtor agree to change the main contract, they shall obtain the written consent of the guarantor. Without the written consent of the guarantor, the guarantor will no longer bear the guarantee responsibility; If there are other provisions in the guarantee contract, such provisions shall prevail.

Where the guarantor of a general guarantee and the creditor have not agreed on the guarantee period, the guarantee period shall be 6 months from the date when the performance period of the principal debt expires.