Questions tagged [guarantor]

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1 vote
0 answers
116 views

Who is actually receiving the loan?

Before signing for a guarantor loan for the first time, in reading the contract I'm confused by this wording Your payment schedule will be: Number of Payments; 24 Amount of Payments; $ 177.13 When ...
2 votes
1 answer
258 views

Can an individual agree to guarantee the investment of another individual in a legally enforceable way?

Suppose individual A want to make an investment in a non-liquid investment vehicle, but they would like to limit their downside if the venture turns out poorly. Suppose another individual B would like ...
12 votes
5 answers
4k views

guarantor's responsibility if lease is completed, but tenants refuse to leave

We signed a lease guaranteeing the rent for our son. He was expected to pay when he got on his feet, but has made no payments. We have paid all monthly payments and there are 2 months left on the ...
2 votes
1 answer
4k views

How does an eviction affect a guarantor's credit score?

If I am the guarantor for someone (say a child, or a younger sibling), and that person got evicted, under what conditions (if any) does this show up on my credit score/report?
4 votes
1 answer
4k views

Will being a guarantor impact my ability to rent an apartment for myself?

I am considering being a guarantor for my brother (for his apartment in NYC) because he doesn't make enough money. I'm also considering moving in the next 6 months or so. If I am the guarantor for ...
2 votes
4 answers
843 views

value of guaranteeing a business loan

I am a co-founder in a small business that has a number of investors. We are looking at doing an expansion that includes an capital raise and a SBA loan. The loan is roughly 5 times larger than the ...
0 votes
2 answers
160 views

Are guarantor loans reliable or shady business?

One of the hard things about living in the UK and being an immigrant is paying rent 6 months upfront (of course, unless you have a guarantor... which is usually parents who are not in the UK). My ...
3 votes
1 answer
311 views

Effect of having a guarentor on one's credit

As I understand it, paying rent on an apartment in the US can positively affect your credit score. But when someone has a guarantor with their lease, is their credit touched at all, or is their paying ...