Having a good credit history is key to getting the loan or making it through credits with banking entities, depending on the personal objective of each individual.
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If a surety is requested, it is advisable to ensure that the person requesting the surety credit fulfill and accept your responsibility.
If he debtor If the client is unable to pay the amount, the guarantor must, as deputy, assume the debt and the relevant payment agreed with the entity.
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This means that the guarantor is the one who voluntarily decides to be obliged to guarantee the credits or loans granted under your consent, in accordance with data collected at Datacredito.
With regard to the guarantor who assumes the debt, Article 2395 of the Civil Code states that “he shall take action against the main debtorfor the repayment of what has been paid, with interest and costs, even if the down payment has been ignored by the debtor,” according to what is stated on the web portal gerencie.com.
The citizen who has provided guarantee also has the option to take the debtor to court once the debt and interest have been paid.
Source: El heraldo
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
