You will need
- - the application for a guarantee;
- - the documents proving the identity;
- - proof of income and seniority;
- - other documents.
The surety shall be jointly and severally liable with the borrower for the faithful performance of the obligations under the loan. This means that if the borrower stops payments on the loan, the burden of monthly payments, penalties and interest is borne by the guarantor. That is why the guarantor must meet the same strict requirements for documentation as to the borrower. It needs to prove its financial stability, as well as the purity of the biography. The Bank may even refuse a loan or reduce the approved amount of loan provided that the surety was not scoring.
The ideal sponsor is a citizen aged 25 years with stable earnings and experience in the current workplace for at least six months. He must have a good credit history and be no outstanding credit obligations to other banks. The relationship between the guarantor and borrower is not prohibited, but rather encouraged.
Regardless of the Bank, the guarantor must submit the completed form. It is to be completed for each guarantor, and their number may vary depending on the requested loan amount. To the application form, you must attach the requested documents, which varies in different banks.
As a minimum the surety must present his own passport. He must be a citizen of Russia, and also registered (or registered) in the region of getting a loan.
From the main guarantors for the loan will need income certificate in form 2-pit. The amount of income of the guarantor must be sufficient to make monthly payments in the event of non-payment or death of the borrower.
In some cases, banks require additional evidence of work experience of the borrower. Then, in the list of documents should include a copy of the work book or certificate of employment.
Some banks also ask for a reference on balances on loans and guarantees. For men under the age of 27 years may require a military ID.
According to the civil code, the surety is a creditor of borrower. And, if the guarantor will fulfill his obligation on the loan, the borrower will be required to reimburse his losses. It is necessary to take a Bank certificate on the debt and deal with it in court.
Before signing a contract, check the correctness of a name of the borrower, amount of loan, and also check your debt. Put your signature on all pages of the contract and never sign blank forms.