what if guarantor is fraudulent by the borrower
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The guarantor becomes legally liable for repaying the outstanding amount of loan if the borrower dies or defaults in repayment due to financial difficulties. If the borrower defaults in payment of loan, it not only lowers the borrower's credit score, but it also adversely impacts the guarantor's credit score too.
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The guarantor becomes legally liable for repaying the outstanding amount of loan if the borrower dies or defaults in repayment due to financial difficulties. If the borrower defaults in payment of loan, it not only lowers the borrower's credit score, but it also adversely impacts the guarantor's credit score too.
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