2. Before the loan you guarantee is paid off, you may not provide guarantee for others, and you may continue to provide guarantee after the guarantee is lifted.

All three parties agree to guarantee. Therefore, the cancellation of the guarantee also requires the consent of other parties, that is, you can only cancel the guarantee if the bank and the guarantor agree.

Supplementary answer:

After your colleague finds a new guarantor, he can apply to the "personal business department" of the bank to change the guarantor, and then you can withdraw from the guarantee.

When handling, you, your colleagues and the new guarantor need to apply to the bank with your ID card and loan contract. The business manager of the bank may feel uncomfortable, so it's best to invite him to dinner and put a few hundred dollars in a small red envelope.

After the manager agrees, it will be handed over to the superior for the process, which will take about 3-7 days to complete.

A Bin, a real estate agent, will answer your questions.