Bank loans have higher requirements for borrowers. Although many people are not overdue, they will be considered by banks to be short of money, unable to repay, and it is difficult to approve loans. In order to successfully approve the loan, they will find someone to guarantee themselves. Then, is it okay to spend the money from the bank loan to let others guarantee it? These conditions must be met!
Can a bank loan be guaranteed by others?
As we all know, bank loans value the borrower's personal credit and repayment ability most, and people who spend money on credit investigation will be more cautious when approving loans. These people have higher loan risks, mostly because they frequently apply for loans and credit cards.
In this way, if the borrower's own reasons affect the loan approval, he can help himself with external force. The most common way is to find someone to guarantee. However, it should be noted that bank loans will also require the guarantor, and will also evaluate the guarantor's credit and repayment ability.
Usually, to guarantee a loan to others, these conditions need to be met: 1. They cannot be the spouse of the lender in identity, and both parties must be in the same household registration; 2. The age should be greater than 18 years old and not less than 65 years old, and cannot be a retiree; 3. Have a stable income and the ability to repay principal and interest for others; 3. Personal credit is good and the lender is willing to repay.
Note that the guarantor must also clarify his own guarantee responsibility, that is, to make a general guarantee or a joint and several liability guarantee. Relatively speaking, the more favorable it is for lenders to issue loans. But in this way, the lender's debt will also be counted on the guarantor's head, and both parties have the obligation to repay. If it is overdue, it will be collected at the same time, and personal credit records will be affected.
The above is "Is it okay for a bank loan to be guaranteed by others?" I hope it will help everyone.
What are the risks of giving a friend a loan as a guarantor?
If your friend can't pay it back, the bank will ask you to help find someone to pay it back. If it is really not possible, you can execute the house or ask you to pay back the money. You can also borrow money during the guarantee period. The guarantee period is from the time when your friend starts to repay the loan, and you have the obligation of guarantor. You have to decide whether you guarantee for your friend or borrow money as a borrower. If you help him borrow a loan, it is equivalent to borrowing a loan, which leads to a bad credit record. If you vouch for it, your credit information may also be reflected. I suggest that you don't guarantee if you are not sure.
How to find a guarantor for a bank loan?
① Relatives and friends: Under normal circumstances, we will invite relatives, friends, colleagues and other people we know and are familiar with as guarantors, such as parents, brothers and sisters, relatives and friends. But under normal circumstances, husband and wife can't be guarantors for each other and the same person at the same time.
② Institution: If you can't find someone you know as a guarantee, you can still find a special guarantee company. First consult and select the guarantee company, and then submit the loan application, identity certificate, work certificate and other materials to the guarantee company, which will accept the project. Then the guarantee company will conduct a comprehensive and all-round investigation, and then conduct examination and approval after the investigation.
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1. The responsibility assumed by the guarantor will expire in a few years.
The time limit for the guarantor to assume responsibility shall be agreed upon by the creditor and the guarantor. If there is no agreement, it is generally six months. The legal basis is Article 692 of the Civil Code: the creditor and the guarantor may agree on the guarantee period, but if the agreed guarantee period expires before or at the same time as the main debt performance period, it is deemed that there is no agreement; If there is no agreement or the agreement is unclear, the guarantee period shall be six months from the date of expiration of the main debt performance period.
2. Will the responsibility of the guarantor endanger the family?
No responsibility, only responsible for the guarantor, not the guarantor's family. If the debtor pays off the debt, the guarantor does not need to bear the responsibility. If the debtor can't pay off the debt, it depends on whether the guarantor has signed a general guarantee or a joint liability guarantee. If it is a general guarantee, it is necessary to ask the guarantor for compensation until the debtor is really unable to repay it; If it is a joint and several liability guarantee, the creditor may directly ask the guarantor to compensate the guarantee amount (which is the guarantee amount agreed in the guarantee contract) after the debt is overdue, and after compensation, the guarantor may obtain the subrogation right and ask the debtor to repay the compensated debt.
3. Why should the real estate license be the guarantor?
The bank asks you to show your real estate license to check the credit rating of the guarantor, that is, to see if you are able to repay the debt for your friend when he is unable to repay the debt. Although you didn't use real estate as collateral for his loan, when your friend is unable to repay the debt, the bank requires you to bear the guarantee responsibility. When you have no other property to bear the responsibility, the bank can apply to execute your real estate to pay off the debt.
4. How does the guarantor protect himself?
In fact, the risk of being a loan guarantor is very great. When you guarantee for others, it is suggested that the loan guarantor learn to "protect himself" and ask the guarantor to provide counter-guarantee to protect himself. Article 4 of China's Guarantee Law stipulates: "When a third party provides a guarantee for the debtor to the creditor, it may require the debtor to provide a counter-guarantee." Counter-guarantee is a guarantee specially set up for the secured debt.
When the debtor asks for a guarantee, the guarantor has the right to ask him to provide the corresponding person or thing as a prerequisite for his undertaking the guarantee responsibility. The establishment of counter-guarantee is essentially to share the guarantee responsibility. In a contract with heavy guarantee responsibility, the greater the counter-guarantee responsibility, the smaller the guarantee responsibility of each guarantor, and the risk of property loss is relatively reduced.
How to find a guarantor for a bank loan?
Generally speaking, banks require guarantors to have a stable source of income. There is no direct difference between these two concepts. Banks also have their own comments on these guarantors.
When the method is not agreed or the agreement is not clear, the basic situation of the person is as follows.
The guarantor you are looking for must have certain financial ability and be a legal person capable of paying off debts on your behalf. Generally, there is no need to find a guarantor, but the basic conditions of a guarantor are as follows: his organization or citizen.
Is it risky for a friend to ask me for a bank loan guarantee?
As long as you are the loan guarantor, it means that if the person you guarantee is unable to pay off the debt, you must repay it on his behalf. Usually there are two kinds of bank loan guarantees, one is general guarantee and the other is joint guarantee. These two different guarantee methods face different investigation methods. Therefore, as a bank loan guarantor, the risks are different, and the responsibilities and obligations are also different. Also, you should know that once you become a guarantor, if you want to borrow money yourself in the future, the amount of the loan will be reduced.