The guarantee company has the obligation to pay compensation, and your bonds can claim compensation from the guarantee company. Guarantee companies can be listed as defendants in litigation. If the guarantee company is unable to repay all the debts, it will pay off the debts for you after the assets of the original borrower are liquidated. If it is still unclear, the guarantee company will liquidate its assets to repay the remaining debts. If you still don't know, you can only admit that you are unlucky.
The present situation is equivalent to two people borrowing money from one person. People who lend money to others can ask them for anything, but they can't afford it. People who mainly use money sell houses and land to pay off debts. If you can't afford it, the guarantor will sell the house and land to pay it back; If you don't pay back, people who lend money to others think they are unlucky.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.