1, permanent guarantor risk. If the borrower fails to repay, the guarantor shall bear the repayment responsibility;

2. Risks affecting the loan amount of the guarantor. Under normal circumstances, the borrower repays the loan by himself, and the guarantor need not worry, but the loan amount and monthly payment borrowed by the borrower will generally be displayed in the credit record of the guarantor. When the guarantor needs to apply for any loan, the debt he guarantees will be regarded as his own debt, and usually the lending institution will include it in the debt, which may affect the loan amount of the guarantor;

3. The guarantor voluntarily guarantees the debt and bears the debt risk. When lending institutions promise to act as guarantors, they often ask guarantors to sign independent legal consultation documents in law firms or notary offices, referred to as ILA for short. When signing this document, the guarantor can't sign in the same law firm of the borrower, but must find another lawyer to sign and testify, which proves that the legal responsibility of the guarantor has been explained to the guarantor, and the guarantor also understands that he has to bear the debt personally and voluntarily act as the guarantor without any pressure.

The qualifications of the guarantor are as follows:

1, a natural person with full capacity for civil conduct, aged between 18 and 65;

2. Have legal and valid identification (resident ID card, household registration book or other valid identification) and proof of marital status;

3. Have a good credit record and willingness to repay;

4, with a stable source of income and the ability to repay the loan principal and interest in full and on time;

5. When the lender fails to repay the loan, the guarantor will repay the loan principal and interest for the lender.

There are two types of guarantee liability:

1, general guarantee liability. That is, when the debtor can't pay off the due debts, the guarantor shall be responsible for it;

2. Joint and several liability. That is, when the debt has reached the repayment period, the creditor has the right to ask the debtor or guarantor to repay the debt.

To sum up, the consequences of the parties' guarantee for others are as follows: if the guarantor provides general guarantee responsibility, the guarantor will bear the guarantee responsibility when the debtor fails to perform the debt; Where the guarantor provides joint and several liability guarantee, when the debtor fails to perform the debt, the creditor may require the debtor to bear the liability, or may require the guarantor to bear the liability within the scope of its guarantee.

Legal basis:

Article 686 of the Civil Code of People's Republic of China (PRC)

The guarantee methods include general guarantee and joint liability guarantee.

If the parties have not agreed on the way of guarantee or the agreement is unclear in the guarantee contract, they shall bear the guarantee liability according to the general guarantee.

Article 687

If the parties agree in the suretyship contract that the surety shall bear the suretyship liability when the debtor fails to perform the debt, it is a general suretyship.

The guarantor of a general guarantee has the right to refuse to undertake the guarantee liability to the creditor before the main contract dispute has been tried or arbitrated and the debtor's property has been enforced according to law, except in one of the following circumstances:

(1) The debtor's whereabouts are unknown and there is no property available for execution;

(2) The people's court has accepted the bankruptcy case of the debtor;

(3) The creditor has evidence to prove that the debtor's property is insufficient to perform all debts or cannot perform debts;

(4) The Guarantor waives the rights stipulated in this clause in writing.

Article six hundred and eighty-eight

If the parties agree in the guarantee contract that the guarantor and the debtor shall be jointly and severally liable for the debt, it is a joint liability guarantee.

When the debtor of joint and several liability guarantee fails to perform the due debt or the circumstances agreed by the parties occur, the creditor may require the debtor to perform the debt, or may require the guarantor to assume the guarantee liability within the scope of its guarantee.