Guarantor

Sometimes the loan application does not even reach the credit officer. They are declined at the application stage. Here are some reasons.

Five factors to know before being a guarantor to home loan

It is known that you have to pay if the borrower does not pay. But not many are aware that the guarantorship reduces their own borrowing capacity and influences the credit report.

Opting out as guarantor to a loan is no cakewalk

When you sign as a guarantor to a loan, you are taking responsibility to pay it back. It is difficult to move out of loan as a guarantor. You have to provide substitute guarantor for the loan.

Before you sign as a guarantor for a loan, read this!

From bank's perspective the guarantor is treated as good as the borrower. In case the borrower does not pay, guarantor has to pay off the loan, failing which his credit score goes for a toss

RBI must go after rogue companies instead of broad brushing

Pratibha Jain, Partner at Nishith Desai Associates believes that a balance is required between overregulation and allowing the market to grow. A guarantor‘s role is to guarantee, he cannot be the first call for debt payment, she adds.

Be careful of your CIBIL score if you are a loan guarantor

Harshala Chandorkar of CIBIL discusses on the need to be careful before signing as a guarantor for anyone else's loan. She stresses on how defaults on loan repayment by that person may affect the guarantor's CIBIL credit score.

All you wanted to know about Married Woman Property Act

Under Married Women's Property Act, all the properties belonging to the women gets insulated from court attachments or any income tax attachments that the husband has run-up.

Guarantor to loan? What responsibility you have to shoulder

Once a person becomes a guarantor then he cannot back out in between, personal finance expert, Gaurav Mashruwala said.