Guaranteeing for others is likely to bring immeasurable losses to yourself, and the possible losses mainly include:

1. May assume the obligation to repay the loan for others. Guarantee is not just as simple as signing a contract. In fact, it is responsible for other people's loans and will be performed according to the contract no matter what happens in the future. If your friend can't repay the loan, you should pay back the money to the borrower according to the guarantee contract. If you are really unable to repay the loan, you can go through legal procedures, handle friends' finance to repay the loan, or you can perform finance to repay the loan. Various cases show that to guarantee a friend, we must fully consider the friend's credit status and repayment ability. There are too many things about various pit guarantors, and we are not good friends who know the root of the matter. We suggest careful guarantee.

Second, it may affect personal credit information. If a friend can't repay the loan, loans overdue will directly ask you to pay it back. If you ignore it, your friend's credit report will be stained, and your credit report will also show overdue records, which may affect the loan when you buy a house or a car in the future. The consequences of overdue credit investigation include not only directly rejecting the loan application, but also raising interest rates and lowering the quota. In short, it is definitely not worth the loss.

Still suggest that your hardcore friends can guarantee, and ordinary friends should not guarantee easily. If your personal qualifications are good enough, you don't need a guarantee at all, which means there is something wrong with your repayment ability.

The loan guarantor refers to the behavior that the guarantor and the creditor agree that when the debtor fails to perform the debt, the guarantor will perform the debt or assume the responsibility according to the agreement.

Definition: A loan guarantor refers to a legal person, other organization or citizen who has the ability to pay off debts on behalf of the guarantor and creditors and can act as a guarantor.

Schools, kindergartens, hospitals and other public welfare institutions and social organizations shall not be used as guarantors. Branches and functional departments of an enterprise as a legal person shall not act as guarantors. No unit or individual may force banks and other financial institutions or enterprises to provide guarantees for others; Banks and other financial institutions or enterprises have the right to refuse to force them to provide guarantees for others.

Does it affect you to vouch for others?

Whether it has an impact needs to be determined according to the borrower's later repayment. Because when the borrower makes a loan, if there is no corresponding collateral or the qualification is insufficient, the bank may require the borrower to increase the guarantor in order to prevent the borrower from defaulting, and there is joint liability between the borrower and the guarantor. In other words, if the borrower is unable to repay, he needs a guarantor to repay. So there are still some risks for the guarantor.

In the process of repayment, if the borrower has strong repayment ability and can repay on time, there is no overdue or default. Then, at this time, the guarantor just hangs his name in the bank. However, in the process of repayment, the borrower is short of funds, which leads to long-term non-repayment. Then, this situation is equivalent to the guarantor "taking the blame". Because of joint and several liability, this debt needs the help of the guarantor to repay, and at this time, repentance is invalid. Therefore, you must think clearly before giving others a guarantee.

Of course, after becoming a guarantor, as long as there is no problem with the borrower, there is not much problem for the individual. However, if the guarantor lends money during this period, it may also have a certain impact. Because the bank may refuse the guarantor's loan application on the grounds of risk. Of course, this is not absolute. Therefore, in this case, the guarantor can eliminate the identity of the guarantor after the borrower pays off the loan, and then apply for a loan. If the guarantor can provide strong financial proof during the loan process, then the probability of applying for a loan is also great.

Note: When you guarantee the borrower, you must know the borrower's repayment ability. After considering all factors comprehensively, we will decide whether to be a guarantor or not to avoid some unnecessary disputes in the later period.

For the borrower, since people trust you and be your guarantor, don't let others take the blame for you.

Does helping others guarantee affect their credit?

It will have an impact.

Mr. Tang, a citizen of Jinhua, told this newspaper that he wanted to apply for a loan from a bank recently, and he ran to several banks. The final loan application was unsuccessful or the amount was very small. The reason is that his credit rating is not high.

Personal credit report is very important information when applying for a loan, which can help banks fully understand the overall debt situation of customers and their families and objectively evaluate customers' repayment ability.

According to the analysis of insiders, Mr. Tang has made secured loans for others, and the amount is large, which is also shown in the credit report and is listed as the object of concern, which is likely to become an important factor for banks to consider when lending.

Extended data:

Credit maintenance method:

1. When the important information of the lender or credit card holder changes, the bank information should be updated in time. Take credit cards as an example. If the cardholder's billing address and mobile phone number change, go to the bank to modify the address and mobile phone number, you can receive the credit card confirmation letter and statement on time, and you can also receive the bank reminder message in time to ensure the security of the account.

2. If the credit card holder does not have enough funds to repay all the bills and does not want to affect his credit history, he can contact the bank in time and choose to return the minimum repayment amount or handle the installment repayment.

3. Some people think that personal bad records can be eliminated as long as credit cards are eliminated. In fact, the credit record is accompanied by the personal identity information of the cardholder, and simply canceling the card cannot eliminate the bad record.

4. At this time, we should continue to maintain the long-term benign use of the card, so as to "clear" the personal credit record through good credit transactions in the future. Of course, the Regulations on the Administration of Credit Information Industry stipulates that the retention period of personal bad information is five years, and it will be deleted after five years, but this is on the premise of paying off the loan.

Baidu Encyclopedia-Zheng Xin

Will it have any effect on making secured loans for people?

Being a guarantor of someone else's bank loan means that when the other party fails to fulfill the repayment obligation, the guarantor needs to pay for it himself. Guarantee is generally divided into general guarantee and joint liability guarantee.

Guarantee is a measure taken to ensure the realization of a debt, which is the main legal relationship and the guarantee is the subordinate legal relationship. Guarantee, including life insurance, property insurance and money guarantee.

People's insurance is a guarantee, which takes people's credit (reputation) as the guarantee for the realization of creditor's rights, including general guarantee and joint guarantee.

Its establishment is arbitrary, requiring the guarantor and the creditor to conclude a written guarantee contract without transferring the possession of the subject matter.