Is the guarantor affected if the borrower does not repay? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

Is the guarantor affected if the borrower does not repay?

Asked by Banky team 2 months ago 1 views
Banky team Reviewed editorial answer

The guarantee creates liability under the contract, and the guarantor's data may be entered into credit risk management systems.

Understand the obligation before signing.

Default may affect the guarantor.

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