X 
Already a User? Sign in!
Your email ID
 
Password
Keep me signed in (Uncheck if on shared computer)
 
 

New user?   Sign up
X 
Verify your account

You're almost done! We just need to verify your account before you can
start using it.

Your Mobile No.
+91 
 
Enter the code you received on sms >
Resend Code (Incase you don't get sms from us).
 

Note: Rediff will never share your number with any company for marketing purpose.

X 
We have sent you an email to . Please click on the link in the email to confirm your emailID.
Risks-Of-Being-A-Loan-Guarantor
1 other  is following
360 characters

  Loading ! Please wait...
Step 1 of 4 : Album created
Will-You-Use-NOTA?

#Will-You-Use-NOTA?

UnFollow
Follow
New-Govt-New-Expectations

#New-Govt-New-Expectations

UnFollow
Follow

#Risks-Of-Being-A-Loan-Guarantor

Harshala Chandorkar of CIBIL will answer your queries on what to know before...  more »
Harshala Chandorkar of CIBIL will answer your queries on what to know before being a co-borrower or loan guarantor in an online chat between 3 pm and 4 pm, January 27  « less
22 posts so far
Refresh | Share

AW

Abdul Warith

I've been asked to be a guarantor by my aunt and uncle for a loan they are taking out for 5lck over 3 years in order to buy a car. They've asked me to do this because I have a "clean" credit history. I agreed, but now I'm starting to wonder if I've done the right thing? What does being a guarantor actually involved? They have bad credit history.

I've been asked to be a guarantor by my aunt and uncle for a loan they are taking out for 5lck over 3 years in order to buy a car. They've asked me to do this because I have a "clean" credit history. I agreed, but now I'm starting to wonder if I've done the right thing? What does being a guarantor actually involved? They have bad credit history. #Risks-Of-Being-A-Loan-Guarantor
  ( 4 replies )  View more 
Posted : 4 months ago
Sab ko Bol
  - Reply
 - Share
  - Report Abuse
AW

Abdul WarithThak you for replaying. But if i dont pay then it will reflect on my CBIL as well. Then also i do not pay any amount what will happend? will bank do any legal activity on me?

 
Thak you for replaying. But if i dont pay then it will reflect on my CBIL as well. Then also i do not pay any amount what will happend? will bank do any legal activity on me?
4 months ago  
Sab ko Bol
  - Reply
  - Report Abuse
HC

Harshala CIf payments are not done the bank may initiate legal proceedings.

 
If payments are not done the bank may initiate legal proceedings.
4 months ago  
Sab ko Bol
  - Reply
  - Report Abuse
SS

Sharma sanjayAre you making loss in stock market !! If Yes 08803031516Call 08803031516andget a free advice on any one stock Be your own stock analyst in just one week. One week online technical analyst training programme .For more call or visit http://rediff.ly/2iist .Also call for stock and commodity tips .

 
Are you making loss in stock market !! If Yes 08803031516Call 08803031516andget a free advice on any one stock Be your own stock analyst in just one week. One week online technical analyst training programme .For more call or visit .Also call for stock and commodity tips .
4 months ago  
Sab ko Bol
  - Reply
  - Report Abuse
HC

Harshala C

Thank you for participating in today's chat.

Thank you for participating in today's chat. #Risks-Of-Being-A-Loan-Guarantor
Posted : 4 months ago
Sab ko Bol
  - Reply
 - Share
  - Report Abuse
1 more updates from Harshala C »
HC

Harshala C

The guarantor’s /co-borrower’s credit report and credit score get affected in case of a default on the loan. Hence, it’s imperative that the guarantor / co-borrower on the loan should keep a track of the loan payments and ensure that the borrower pays the EMIs regularly on the due date, month on month.

The guarantor’s /co-borrower’s credit report and credit score get affected in case of a default on the loan. Hence, it’s imperative that the guarantor / co-borrower on the loan should keep a track of the loan payments and ensure that the borrower pays the EMIs regularly on the due date, month on month. #Risks-Of-Being-A-Loan-Guarantor
Posted : 4 months ago
Sab ko Bol
  - Reply
 - Share
  - Report Abuse
VT

Vinayak Tavade

Will being a guarantor impact my chances of obtaining another loan?

Will being a guarantor impact my chances of obtaining another loan? #Risks-Of-Being-A-Loan-Guarantor
Posted : 4 months ago
Sab ko Bol
  - Reply
 - Share
  - Report Abuse
HC

Harshala CIf there are any defaults on the loan that you have guaranteed then this may impact the chances of you getting loan approvals.

 
If there are any defaults on the loan that you have guaranteed then this may impact the chances of you getting loan approvals.
4 months ago  
Sab ko Bol
  - Reply
  - Report Abuse
ND

Nitin Deshmukh

Hi, Is there any site whereby I can withdraw my Guarantor status sometime down the line?

Hi, Is there any site whereby I can withdraw my Guarantor status sometime down the line? #Risks-Of-Being-A-Loan-Guarantor
Posted : 4 months ago
Sab ko Bol
  - Reply
 - Share
  - Report Abuse
M

mustafa

hi mam, where i can find dos and donst about CIBIL?

hi mam, where i can find dos and donst about CIBIL? #Risks-Of-Being-A-Loan-Guarantor
Posted : 4 months ago
Sab ko Bol
  - Reply
 - Share
  - Report Abuse
HC

Harshala CYou may visit the CIBIL website for more information on CIBIL.

 
You may visit the CIBIL website for more information on CIBIL.
4 months ago  
Sab ko Bol
  - Reply
  - Report Abuse
AK

Abinash Kumar

Is a co-borrower different from a co-applicant? for eg in home loan case.

Is a co-borrower different from a co-applicant? for eg in home loan case. #Risks-Of-Being-A-Loan-Guarantor
Posted : 4 months ago
Sab ko Bol
  - Reply
 - Share
  - Report Abuse
HC

Harshala CNo. Co-borrower and co-applicant mean the same .

 
No. Co-borrower and co-applicant mean the same .
4 months ago  
Sab ko Bol
  - Reply
  - Report Abuse
AJ

Aatish Jagmanani

I currently have a loan with myslef. Can the same guarantor be guarantor for someone else in the same household as myself on a new loan?

I currently have a loan with myslef. Can the same guarantor be guarantor for someone else in the same household as myself on a new loan? #Risks-Of-Being-A-Loan-Guarantor
Posted : 4 months ago
Sab ko Bol
  - Reply
 - Share
  - Report Abuse
HC

Harshala CYes, it is possible that a guarantor can guarantee more than one loan.

 
Yes, it is possible that a guarantor can guarantee more than one loan.
4 months ago  
Sab ko Bol
  - Reply
  - Report Abuse
GG

Gurshan Gurmeet

I moved with my girlfriend years ago and she got a mortgage loan. I acted as guarantor. But now we have split up and she has another bf. If she can't pay. What happens if I don't pay either.? Please, advise.

I moved with my girlfriend years ago and she got a mortgage loan. I acted as guarantor. But now we have split up and she has another bf. If she can't pay. What happens if I don't pay either.? Please, advise. #Risks-Of-Being-A-Loan-Guarantor
Posted : 4 months ago
Sab ko Bol
  - Reply
 - Share
  - Report Abuse
HC

Harshala CThe information on the loan that has been guaranteed appears in the Accounts section of the guarantor’s credit report. The ownership status of this loan account will be reflected as ‘Guarantor’. The credit report will also show the month-on-month payment behavior of the principal borrower towards this loan.

 
The information on the loan that has been guaranteed appears in the Accounts section of the guarantor’s credit report. The ownership status of this loan account will be reflected as ‘Guarantor’. The credit report will also show the month-on-month payment behavior of the principal borrower towards this loan.
4 months ago  
Sab ko Bol
  - Reply
  - Report Abuse
HC

Harshala CAny delinquencies and defaults will also get captured and reflected in the Guarantor’s credit report. In case of defaults and delinquencies by the principal borrower, the credit score of the guarantor will also get negatively impacted.

 
Any delinquencies and defaults will also get captured and reflected in the Guarantor’s credit report. In case of defaults and delinquencies by the principal borrower, the credit score of the guarantor will also get negatively impacted.
4 months ago  
Sab ko Bol
  - Reply
  - Report Abuse
AD

Amol Dhurve

What happens if it does go pear shaped and your credit report is affected?

What happens if it does go pear shaped and your credit report is affected? #Risks-Of-Being-A-Loan-Guarantor
Posted : 4 months ago
Sab ko Bol
  - Reply
 - Share
  - Report Abuse
AD

Amol Dhurvemine*

 
mine*
4 months ago  
Sab ko Bol
  - Reply
  - Report Abuse
Hot Topics
Money
UnFollow
Follow
Did-You-Cast-Your-Vote
UnFollow
Follow
Poll-Meme
UnFollow
Follow
Elections-2014
UnFollow
Follow
India-Photos
UnFollow
Follow
Can-Smriti-Beat-Rahul?
UnFollow
Follow