If you don't pay it back, the guarantee company has an obligation to pay it back!
Second, the individual guarantees the loan company for the company. What if the company doesn't pay it back?
Legal analysis: I vouched for others. At that time, the procedures were complete and the process was compliant. You can't run away from this. The loan can only be repaid from the corresponding assets of the main lender, such as real estate, cars, securities, etc. For overdue loans, banks usually deal with debtors with assets first. If you have proof, you can provide it to the bank, and then the bank will handle it first. If the debtor has no executable assets, you should pay him back.
Legal basis: Article 11 of the Interim Measures for the Administration of Personal Loans shall meet the following conditions:
(1) The borrower is a People's Republic of China (PRC) citizen with full capacity for civil conduct or an overseas natural person who meets the relevant provisions of the state;
(2) The purpose of the loan is clear and legal;
(3) The amount, duration and currency of the loan application are reasonable;
(4) The borrower has the willingness and ability to repay;
(5) The borrower's credit status is good and there is no significant bad credit record;
(6) Other conditions required by the lender.
Third, the individual guarantees the loan company for the company. What if the company doesn't pay it back?
Legal analysis: I vouched for others. At that time, the procedures were complete and the process was compliant. You can't run away from this. The loan can only be repaid from the corresponding assets of the main lender, such as real estate, cars, securities, etc. For overdue loans, banks usually deal with debtors with assets first. If you have proof, you can provide it to the bank, and then the bank will handle it first. If the debtor has no executable assets, you should pay him back.
Legal basis: Article 11 of the Interim Measures for the Administration of Personal Loans shall meet the following conditions:
(1) The borrower is a People's Republic of China (PRC) citizen with full capacity for civil conduct or an overseas natural person who meets the relevant provisions of the state;
(2) The purpose of the loan is clear and legal;
(3) The amount, duration and currency of the loan application are reasonable;
(4) The borrower has the willingness and ability to repay;
(5) The borrower's credit status is good and there is no significant bad credit record;
(6) Other conditions required by the lender.
4. What will the bank do if the secured loan is not repaid?
The guarantor should bear the responsibility of guarantee, that is, the consequences of returning the loan. The borrower's credit is affected. Because the bank pays more attention to the borrower's personal credit, if the loan is not repaid, the personal credit will be affected, which will directly affect the borrower's future loans. Generate penalty interest and increase the pressure of future repayment. If the borrower fails to repay the loan, there will be a penalty interest with the progress of time, which will increase the repayment pressure of the borrower. In loans overdue for a month or two, the bank will not pay it back immediately. Generally, it will call the borrower first to urge him to repay. If it is not paid, the bank will have a special person to communicate with the borrower. If the communication fails, the borrower provides collateral as a mortgage loan, and the loan cannot be repaid after repeated dunning, then the mortgage will be auctioned to repay the loan. Extended information bank loan refers to an economic behavior that banks lend funds to people in need of funds at a certain interest rate according to national policies and return them within the agreed time limit. Generally, you need a guarantee, a house mortgage, proof of income and good personal credit information before you can apply. Moreover, in different countries and different development periods of a country, the types of loans classified according to various standards are also different. For example, industrial and commercial loans in the United States mainly include ordinary loan limits, working capital loans, standby loan commitments, and project loans. In Britain, industrial and commercial loans mostly take the form of discounted bills, credit accounts and overdraft accounts.