"Guarantor"? I have be asked by a family applicant to go gaurantor on

I have be asked by a family applicant to go gaurantor on a coup�� loan for them. What does this actually be determined? They say i wont be liable for the debt but i'm pressuming my credit rating will be artificial if anything goes wrong. Does anyone know?

Thanks

They lied to you.

You will become liable for the debt if your family memeber doesn't reward up.

Don't sign it!

you will become responsible for the debt if they stumble on it and it could accept your credit rating

Answers: oh yes you will be liable for the debt if they do not foot. its a fancy way of dictum co-singing. do not do it unless you want to and can take on the debt.
definition
Guarantor
A soul who guarantees to pay for someone Else's debt if he or she should defaulting on a loan obligation.

You will be liable if they defaulting on the agreement & the company will pursue you. I have worked contained by the credit & debt industry for years & know this to be true. So be very prudent.

What you would be doing is guaranteeing to the trader of the car, or the lender of the money to buy the sports car that if your relative defaults on repayments, you will cart over. Do you trust your relative enough not to consent to you down?
Personally, I've never heard of a in good spirits ending to this category of situation yet. Proceed next to extreme caution.

it means you hold to pay the loan put a bet on if they don't keep up the repayments.