How to cancel joint and several guarantee liability for joint guarantee loan?
In principle, once the loan contract is signed successfully, the guarantee relationship between the co-sponsors will exist within the prescribed time limit. Once the arrears are paid off, the joint liability will be automatically lifted.
1. If the loan is still under review, and the information has just been submitted, and the bank financial institution fails to pass the review after verification and investigation, it can contact the bank in time and ask to cancel the joint guarantee and quit the team. The loan can be cancelled with the consent of the bank financial institution.
2. In the process of implementing the joint guarantee loan, if the liability is to be lifted, all borrowers and banks in the joint guarantee loan need to agree to lift the guarantee, so that the joint guarantee liability can be really lifted.
3. Debt transfer. In one case, one household in the joint guarantee loan wants to withdraw. If you find another suitable guarantor and others are willing to join, you can try to transfer the debt to a third party. However, this situation should be recognized by the joint guarantee households and banking and financial institutions. If the guarantor does not agree to continue the guarantee, he shall not bear the guarantee responsibility.
In short, the joint guarantee loan has certain risks and must bear corresponding responsibilities. If you don't want to bear it, you'd better discuss it in advance, otherwise it will be very troublesome.