Can Guarantor Loans affect the Credit Rating of the Guarantor?
- 6 years ago
Have you been asked to be someone’s guarantor? This video covers the pros & cons of doing this for a friend or family member.
------
▶️ ON OUR WEBSITE & "MONEY MATTERS" BLOG
- Guarantor Loans: https://www.solution-loans.co.uk/guarantor-loans/ & https://guarantor-loans.co.uk
- Requirements to be a guarantor: https://www.solution-loans.co.uk/guarantor-loans/guarantor-requirements/
- Can guarantor loans affect credit rating? https://www.solution-loans.co.uk/blog/can-guarantor-loans-affect-credit-rating-guarantor/
- Been asked to be someone's guarantor: https://www.solution-loans.co.uk/blog/asked-guarantor-heres-need-know/
- The definitive guide to guarantor loans: https://www.solution-loans.co.uk/blog/definitive-guide-guarantor-loans/
------
▶️ SOCIAL
Like us on Facebook: https://www.facebook.com/SolutionLoansUK/
Follow us on Twitter: https://twitter.com/solutionloansuk
Follow us on Instagram: https://www.instagram.com/solutionloans/
Website: https://www.solution-loans.co.uk/
Subscribe to our YouTube channel: https://bit.ly/solutionloansYT
------
▶️ VIDEO TRANSCRIPT
Can Guarantor Loans affect the Credit Rating of the Guarantor? When someone agrees to be a guarantor for a credit agreement they assume a degree of responsibility for the debt. So what exactly is the role of a Guarantor? A Guarantor is someone who promises to make loan repayments, or repay a debt in its entirety IF the borrower is either unable or unwilling to make the scheduled repayments. So taking on the role of a guarantor is to take on a big responsibility. But potentially it is also a very worthwhile thing to do. The borrower gets the chance to improve their credit rating by repaying the debt. Something that would have been impossible without the credit guaranteed by their guarantor. But if the borrower defaults on the repayments it could have a negative effect on the guarantor's rating. Our website has a detailed FAQ that should cover any questions you have about being someone’s guarantor. Visit Solution-Loans.co.uk/guarantor-loans for more information.
------
▶️ ON OUR WEBSITE & "MONEY MATTERS" BLOG
- Guarantor Loans: https://www.solution-loans.co.uk/guarantor-loans/ & https://guarantor-loans.co.uk
- Requirements to be a guarantor: https://www.solution-loans.co.uk/guarantor-loans/guarantor-requirements/
- Can guarantor loans affect credit rating? https://www.solution-loans.co.uk/blog/can-guarantor-loans-affect-credit-rating-guarantor/
- Been asked to be someone's guarantor: https://www.solution-loans.co.uk/blog/asked-guarantor-heres-need-know/
- The definitive guide to guarantor loans: https://www.solution-loans.co.uk/blog/definitive-guide-guarantor-loans/
------
▶️ SOCIAL
Like us on Facebook: https://www.facebook.com/SolutionLoansUK/
Follow us on Twitter: https://twitter.com/solutionloansuk
Follow us on Instagram: https://www.instagram.com/solutionloans/
Website: https://www.solution-loans.co.uk/
Subscribe to our YouTube channel: https://bit.ly/solutionloansYT
------
▶️ VIDEO TRANSCRIPT
Can Guarantor Loans affect the Credit Rating of the Guarantor? When someone agrees to be a guarantor for a credit agreement they assume a degree of responsibility for the debt. So what exactly is the role of a Guarantor? A Guarantor is someone who promises to make loan repayments, or repay a debt in its entirety IF the borrower is either unable or unwilling to make the scheduled repayments. So taking on the role of a guarantor is to take on a big responsibility. But potentially it is also a very worthwhile thing to do. The borrower gets the chance to improve their credit rating by repaying the debt. Something that would have been impossible without the credit guaranteed by their guarantor. But if the borrower defaults on the repayments it could have a negative effect on the guarantor's rating. Our website has a detailed FAQ that should cover any questions you have about being someone’s guarantor. Visit Solution-Loans.co.uk/guarantor-loans for more information.