Credit and Loans Subcategories

Subcategories are listed below to provide more narrow searching within the Credit and Loans category.

Knowledge Base Issues

How do I withdraw as a loan guarantor?
A guarantor may request to be released from the guarantee. However, the decision is up to the financial institution. The financial institution may: Agree without conditions Agree subject to an...
What are the liabilities of a guarantor?
More often than not, guarantors willingly sign the contract of guarantee without fully realising the impact it may have in the future. Therefore, it is extremely important for a prospective...
What are the limitation of actions against guarantors? When will your liabilities as a guarantor be discharged?
Limitation Of Action Against Guarantors Where a guarantee is made payable on demand, a financial institution cannot bring an action against the guarantor until a demand has in fact been made under...
Can I be a guarantor for a loan taken by my spouse or child?
Yes. However, the financial institution has the discretion whether to accept you as a guarantor. Back to Guarantors' Contents
If I decide to be a guarantor, do I have the right to be informed of the status of the borrower's account?
You have the right to be informed of the account you guaranteed, subject to the borrower's consent. Guarantors will normally receive a carbon copy of the reminder letter which was sent to the...

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