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Thread: What should I consider, if some one asks for me to be Guarantor? What are the risks there?

  1. #1
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    Default What should I consider, if some one asks for me to be Guarantor? What are the risks there?

    Hi All

    What should I consider, if some one asks for me to be Guarantor? What are the risks there?

    Thanks
    Sunil Kumar



  2. #2
    Moderator Rahul's Avatar
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    If you are ready to become guarantor for someone, you should read the document first what it is saying before signing it like any other legal document. If you are OK with it go ahead if not then don't sign it. Nobody tell you what will be there in it, without reading the document. You will be ONLY liable for that property as per your signed documents.
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  3. #3
    PW Expert
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    Quote Originally Posted by msgforsunil View Post
    Hi All

    What should I consider, if some one asks for me to be Guarantor? What are the risks there?

    Thanks
    Sunil Kumar
    Only become guarantor, when you know a person very well. Because if that person defaults then the bank will start proceeding against you.


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