Guarantor services in the bank
In the process of applying for a loan, people very often start asking for much more than those who can afford it.
In the event that the loan amount is large and there is generally no property to give on bail, a good surety can help out. It will take not only his honesty, but also his wallet.
The surety itself is the guarantor of the debt repayment by the borrower to the bank. As a result, he will not make any payments. Nevertheless, if it happens, so that the borrower ceases to repay the loan, then as a result it must be done directly by the surety. After the required amount of money has been returned, the surety will be the lender himself and will be able to request from the borrower that he compensate him for all expenses.Surety is mainly practiced as a result of consumer lending; take, for example, when cash is borrowed. Also, in some cases, the guarantee is in car loans, as well as with a loan to purchase a dwelling.
Almost all banks provide similar requirements to both the guarantor and the borrower. That is, in order to become a surety for another person, it is necessary to earn good money so that no more than forty percent of the earnings go directly to pay the debt, and also provide a certificate of work on which the surety is at least six months old.