Would you sign this kind of guarantor's form?

[Heatman]

A guarantors form is used to hold a leverage on anyone who wants to borrow money or be employed in a big firm. The guarantors accepts to be held responsible should the person steals or commits fraud.

Even though in getting bank loans, there's nothing like signing a guarantor's forum, what banks want is your collateral. It's in getting personal loans from individual that they may ask you to get a guarantor.

Now, in a situation where someone (a friend of yours) asks you to sign a guarantor's form for him to take a personal loan of $2 million dollars and there's a clause in the guarantor's form that states "In the event of the borrower's death, the guarantor will pay off his debt", would you sign such a document?

 

[Henrywrites]

If our friendship is worth more than 2 million dollars, I won't mind signing such guarantor's form. There are levels that you and someone will get in life, and you will begin to see life differently with them, and that includes the sacrifices that you make too.

 

[Heatman]

If our friendship is worth more than 2 million dollars, I won't mind signing such guarantor's form. There are levels that you and someone will get in life, and you will begin to see life differently with them, and that includes the sacrifices that you make too.

The real question that you should be asking yourself if you have 2 million dollars to pay back should your friend whom you have so much trust in default?

I have come to accept in life that change is always something that is very constant in any human being and someone can always change tomorrow. This is why there are some decisions that I am not going to make that will put me in a very tight spot.

 

[Nomad]

I can become a guarantor for my family members (parents and siblings), in fact, I have signed a guarantor form for my brother and father. However, other than my own family members, I will never sign such forms for other people, even a close friend. It is too risky.

 

[Heatman]

I can become a guarantor for my family members (parents and siblings), in fact, I have signed a guarantor form for my brother and father. However, other than my own family members, I will never sign such forms for other people, even a close friend. It is too risky.

Before I am going to be interested in signing a guarantors form for someone who is my friend, I will have to know that such a friend is someone who is trustworthy and have proven his loyalty to me. Even though I know that some people can change tomorrow but I will know that this person have gone to a greater extent to prove his loyalty to me. Anything other than this, it will be impossible for me to sign such guarantors form.