Who can be my guarantor, and what are their responsibilities?

A guarantor is someone who agrees to be responsible for the loan if you are unable to make payments. The guarantor is usually a family member or close friend, and they will need to provide evidence of their financial stability and ability to cover the loan if needed. The guarantor is responsible for the loan if you are unable to make payments, and they will need to provide evidence of their financial stability and ability to cover the loan. This could include providing a copy of their bank statements, proof of income, and other financial documents. The guarantor will also need to sign a legal document that outlines the terms of the loan, and the responsibilities of the guarantor. It is important to make sure that the guarantor understands their responsibilities, and the potential risks of being a guarantor. It is also important to make sure that the guarantor is aware of the loan terms, and the repayment schedule. If you are considering using a guarantor for your loan, it is important to make sure that you have a good relationship with them, and that they are aware of the risks and responsibilities involved.