Getting into this situation is as easy as shelling pears. It is enough to become a guarantor of a loan. Many easily agree to this. It doesn’t occur to people what this might turn into and all because they do not read the contracts. One question stands out can I be a guarantor on 2 loans? Let us find out.
Keep in mind. If you are a guarantor, and the debtor cannot pay the loan, the bank will recover the money from you. The entire amountincluding fines and penalties. Generally acting on behalf of one loan is natural. However, there are instances of single guarantor acting on behalf of two loans are there also. But you can ask can I be a guarantor on 2 loans? Answer stays with the bank.
So decideis it worth it to mess with. Of course, you can rely on the decency of friends. But practice shows that guarantors all the time fall into unpleasant situations. Recently, a completely wild story occurred in the US Territory. There a woman, a deputy of the village council, received a suspended sentence of 2.5 years for a series of arson of houses of villagers. The background of events is striking. The deputy named 150 thousand rubles in banks. Guarantors for loans were neighbors. Our peoplecount! The debtor stopped paying. As a result, the money was returned by court to the whole village. It is clear that the relationship deteriorated. The villagers began to press, in revenge, the deputy began to burn them at home.
An unpleasant turn of events for the guarantor is not uncommon. Impressive statistics on the Perm region. There, the guarantors had to return a total of 140 million rubles for debtors. An unfortunate story occurred in Yaroslavl. Two teachers of the military school named after Frunze vouched for a friend of the cadet. He gave the tear, and the court arrested the apartments of the unlucky guarantors. In the Omsk region the guarantor had to pay a debt of 500 thousand rubles for a friend. In Macadam, bailiffs arrested the property of 24 people. All of them were “confused” for the unemployed and low-income acquaintances. That left without cars, cottages and household appliances.
Simple rules
How to insure against such troubles? Before becoming a guarantor, you need to understand a few simple rules.
Firstly, the law does not make guarantors any indulgences. From his point of view, they are exactly the same borrowers as the real debtor. Therefore, if anything, the court will force the guarantor to pay. Includingit can impose an arrest on his property and force him to pay a debt from his salary. Surprisingly, even the death of the borrower does not relieve the guarantor of the obligation to repay the loan. In this unpleasant situation, not the heirs, but the guarantors will pay the debt…
Secondly, one cannot refuse a guarantee. From the moment you signed the contract, the sword of Damocles will hang over you until the debt is repaid. The only loophole is to agree with the bank and the debtor. If they do not mind, the guarantee can be “rewritten” to another person.
Thirdly, banks leave considerable room for maneuver. Usually, two people act as guarantors. The bank is free to choose. In which case, he can make a complaint to both. And it can make you pay only one, the most solvent guarantee. In any case, the court will side with the financiers.
Fourth, by applying for a loan, you reduce your own chances of taking a loan from a bank. Bankers check the solvency of potential customers. From their point of view, a loan is already “hanging” on the guarantor. Therefore, they will subtract hypothetical payments on it from the amount of your income. It doesn’t matter if you really pay anything. But what if? As a result, having vouched for someone, you will at least reduce the maximum possible amount of the loan that you can give yourself.
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How to get out?
What to do if you vouched for someone else’s credit and got stuck? There are several situations in which the surety can nevertheless be evaded from liability.
- Firstly, if the loan was targeted, let’s sayfor a car or apartment repair. If you prove that the debtor used at least part of the money for other purposes, your liability will be voided.
- Secondly, the guarantor can wash his hands if the terms of the contract with the bank were changed without his knowledge. With one caveatif the changes worsen the position of the guarantor. It opens up considerable space. For example, a bank increased interest on a loan or slightly changed at least one clause of an agreement.
- Thirdly, the guarantee is terminated when another person becomes the debtor. For example, a borrower rewrote a loan for his wife.
The Last Word
The main rule is this. If the court ordered you to pay, you have to pay. No matter how offensive it is. But then you can rightfully bring a so-called regressive lawsuit to the unfortunate borrower. The court will certainly take your side. And if the person who framed you has something to pay, he will sooner or later return the money.
