Capital lending is a dangerous market, but becoming a guarantor for someone else’s loan is a next level ball game. Testifying someone's credibility in front of a moneylender acknowledging the outcomes can be severe if his/her testimonial proves wrong, need a lot of guts. So, it’s always better to draw a clear picture of the consequences and benefits before stepping in as a guarantor. There are situations where it's relatively safe to act as a guarantor, but there are situations where acting as a guarantor can lead you into huge troubles. So, before you indulge yourself in thoughts of becoming a guarantor, it's better if you know about the safe and risky circumstances. Here are some circumstances where it’s okay for you to be a guarantor.
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AuthorAman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management. |