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Third Party Guarantee
Rajkumar P profile image Rajkumar P Member Join date: Mar, 2012 Posts: 2 Points: 0
Can u please explain what does it mean by third party guarantee or personal guarantee when we take loan without keeping any security?
  • March 06, 2012
  • Preferred study destination: Australia

Replies (1)

Nanthini Jp Nanthini Jp Expert Join date: Mar, 2012 Posts: 78 Points: 1085 Trusted Advisor

When you talk about the third party guarantee, it means your uncle, your father’s friend or any of your relatives can make this third party guarantee. This is to ensure if the first guaranteed person couldn’t able to pay then 3rd party person have to bear the loan. The 3rd party income proof is also needed.

Nanthini Jp | Peterkins Educational Solution Pvt. Ltd.

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