Many of us sign up and guarantee someone a loan from a bank, and then we are surprised that the man who guaranteed him took the loan and stopped paying it.. And here he does not know what to do.. and how to get out of this disaster.. especially since in this case he will be obliged to pay the value of the loan or be imprisoned. If you want to know the most important tips and penalties that you may be exposed to if you go under warranty, watch this report until the end
Of course, we all know that any client who applies to take a loan from any bank must get a guarantor for the loan he wants to take, and here he is forced to get the owner of lands or real estate or any property or a government job as a guarantee for the loan or get someone to guarantee him in the loan, and the latter is a very common thing and unfortunately in… Many of us are kind and naive people who go out and sign any loan for anyone, even though they do not even know the seriousness of what they have done.
We all know that the courts are currently full of cases of issuing checks without balance, and many cases against people who were guarantors for other people in order to take out loans, and in the end, they left the one who was the guarantor to be the one who got dressed, and one day he will pay or be imprisoned, and he will also pay the late fines, interest, and everything else on the loan..
So, what damages can be incurred by the guarantor due to a loan to a client?
There are many problems that you will encounter if you act as a guarantor for anyone, the first of which is that if the owner of the loan is late in paying the value of the installments, then you will be responsible for paying the value of the interest and principal to the owner of the loan, and in the event that the client is late in paying, the guarantor will bear the value of the legal fees related to the loan, as well as The guarantor bears the responsibility of paying all installments in the event that the owner of the loan is late in paying the value of the installments, and in the event that the owner of the loan and the guarantor They are late in repaying the loan or the interest on it. In this case, the bank has the right to seize the property of the loan owner and the guarantor in order to take his money. If the guarantor is an employee, the bank has the right to take the value of the installment owed by the loan owner from your salary if the customer is late in paying the monthly installment of the loan. If the bank takes any legal action, the guarantor will bear all the legal fees that are paid to file a lawsuit.
