Many of us rely on loans for big purchases like a house or a car. Some of us may even need an urgent personal loan. It may also happen that a close friend or a relative asks you to be a guarantor to her loan. Will you agree to be the guarantor? Read on to know some basics of guaranteeing loans.
The need for a loan guarantor
You might think that the person who has been asked to get a guarantor for her loan is being told so because she has a poor track record of repaying loans.
