What about the guarantor when the lender runs away?

1. In general, you three need to bear the guarantee responsibility for the credit union. Please pay attention to the guarantee period, after which the credit union has no right to ask you to bear the guarantee responsibility. Credit cooperatives usually hire legal advisers or have special legal affairs and risk management departments to deal with such affairs. Unless the credit cooperatives are collectively irresponsible and the management is extremely chaotic, it is difficult to happen.

2. Under normal circumstances, when you sign a guarantee contract with the credit union, the credit union requires you to carry out joint guarantee. This means that you and the debtor perform in no particular order, and the credit union can directly sue the guarantor.

3. You can claim compensation from the debtor after assuming the guarantee responsibility.

4. If there is conclusive evidence to prove that the debtor has transferred assets to avoid debts, he may apply to the court to cancel the sales contract or the gift contract.

Special statement: The above is my lawyer's personal analysis conclusion based on the current laws in People's Republic of China (PRC), which cannot guarantee long-term validity and cannot replace the court's judgment. It may be inconsistent with the actual operation of the law and is for reference only. It is not recommended for anyone to operate according to this. If all the consequences of this action have nothing to do with our lawyers. Tian Lei, lawyer of Jiangsu (E-mail:tianlei@tianlei.org Shao Ping Law Firm)