What is a Guarantor?

Written By Minh Tong
Nov 21, 2022
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A Guarantor is the person who promises that a borrower will pay back his or her debts. A Guarantor might be asked to provide proof of income, like a tax return, and/or a credit report showing their credit score to prove there are no major defaults on their financial record. If the borrower does not make payments on time, the Guarantor can be required to make them for him/her.


A Guarantor plays an important role in providing assurance that borrowers will pay back any outstanding loans they have taken out. In many cases, people may need to apply for financing with a Guarantor because they do not meet certain requirements themselves (such as having enough wealth or income). By acting as a Guarantor and signing loan documents promising to make any missed payments if necessary, the Guarantor can help borrowers get approved for financing.

Requirements to becoming a guarantor

Guarantors are typically asked to meet certain requirements before being approved as one. These may include providing proof of income, like a tax return or pay stubs from their job, and/or a credit report showing that they have no major defaults on their financial record. This is done in order to ensure that the Guarantor has enough money and good financial standing to cover any missed payments if necessary.


When acting as a Guarantor, it’s important always to remember that you’re responsible for making sure any outstanding loans taken out by the borrower are paid back in full and on time. If payments are missed, you’ll be required to make them on time – which means having enough money to cover the missed payments and potentially any late fees. This can be stressful, so it’s important that you fully understand what being a Guarantor means before agreeing to provide this kind of assurance for someone else. In addition, you may want to consult with an attorney or an Americor financial professional for help understanding your responsibilities and obligations as a Guarantor.


Overall, being a Guarantor is an important role in helping borrowers get approved for financing when they may not otherwise meet certain requirements themselves. It’s crucial that guarantors fully understand their responsibilities and obligations before taking on this role, including having enough money to cover any missed payments if necessary. However, with the right guidance and support, being a Guarantor can be a very rewarding experience, helping borrowers achieve their financial goals while protecting their own finances as well.


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We provide debt resolution services. Our clients who make all monthly program payments save approximately 40 – 50% of their enrolled debt (average of 43%) upon successful program completion, before program fees. Fees are based on a percentage of your enrolled debt at the time of starting the program and range from 15%-25% of your enrolled debt. Programs range from 20-48 months. Clients must save at least 25% of each debt due to an enrolled creditor before a bona fide settlement offer will be made. On average, clients receive their first settlement within 4-7 months of enrollment and approximately every 3-6 months thereafter from when the prior debt was settled. Not all Clients complete the program. Estimates are based on prior results and may not match your results. We cannot guarantee that your debts will be resolved for a specific amount or percentage or within a specific timeframe. We do not assume your debts, make monthly payments to creditors or provide tax, bankruptcy, accounting, legal advice or credit repair services. Our program is not available in all states; fees may vary by state. Some programs may be offered through The Law Firm of Higbee & Associates d/b/a Advantage Law. The use of debt resolution services will likely adversely affect your credit. You may be subject to collections or lawsuits by creditors or collectors. Your outstanding debt may increase from the accrual of fees and interest. Any amount of debt forgiven by your creditors may be subject to income tax. Clients may withdraw from the program at any time without penalty and receive all funds from their dedicated account, other than funds earned by the company or fees paid to third-party service providers, as may be applicable. Read and understand all program materials prior to enrolling. Certain types of debts are not eligible for enrollment. Some creditors are not eligible for enrollment because they do not negotiate with debt relief companies. To determine the offers you may be eligible for, Americor conducts a “soft credit pull.” This credit pull does not impact your credit score, creditworthiness, or ability to obtain credit from other sources. The soft pull is not a tradeline entry, it does not report against your score and will only take a few minutes.

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