What is a Debt Guarantee?

By | November 20, 2007

Debt Guarantee provides for a guarantor for the repayment of a debt. This guarantor basically acts as a co-signer for the borrower’s obligations to a specific lender. The guarantor will agree that if any of the borrower’s payments are late or not paid, they will make the payments. The guarantor may also agree that the guarantee may be enforced without having to first sue the borrower for defaulting on the debt.

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