Unpaid debts: Does the guarantor have the right to claim his money from the debtor?

Unpaid debts: Does the guarantor have the right to claim his money from the debtor?

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In case of non-payment, there are several precautionary measures to protect the guarantor

Unpaid debts: Does the guarantor have the right to claim his money from the debtor?

Signing as a guarantor is one of the most altruistic and dangerous financial procedures any person can perform, since by doing so we acquire many responsibilities without obtaining any benefit. If we are determined to do so anyway, we must take at least some minimum precautions, according to LaVanguardia.com HelpMyCash.com.

Let’s imagine the following case: Luis asks the bank for a 20-year mortgage and the bank tells him that it is granted as long as he obtains the signature of an endorsement. So Luis talks to his cousin José and he agrees to take a quick signature, since he knows Luis well and knows that he is a hardworking and reliable guy, who does not usually lack the money.

Twelve years later, Luis unexpectedly loses his job and does not receive any help, so José must now take over the debt, just as he committed twelve years ago. The judge dictates that José sells his car and also that his savings and part of his salary be garnished to answer the debt. Thus, José faces the debt of his cousin with all of his assets and waits for Luis to recover financially to get his money back. Months later, Luis finds work and is recovering. However, when José brings up the subject he only gets long. The relationship with the family member is not the same as before and now Luis has his own family and lives outside of Spain, which makes the contact more difficult. And José asks himself: is there any law that could force Luis to pay?

In this situation, José has to know that, in general, a guarantor can not do anything in the face of the holder’s default more than trying to pay off the debt that is what he committed when he signed the loan contract, and that there are only three shares that can “protect” the guarantor:

1. Sign a counter-guarantee or counter-guarantee on the same day the guarantee is signed. This document certifies before a notary that, in the case in which an endorsement must be executed, the guarantor may claim the payment of the amount that he has had to pay because of the non-fulfillment of the guarantee. If José has this document signed by Luis, he can claim his debt with all of the law.

2. Become a guarantor but only part of the debt , for example, 40%. This will prevent the guarantor from carrying huge debts that can ruin his life.

3. Go to trial . In some cases it is possible to demonstrate that the debtor is able to pay but is “draining the bundle” so that the guarantor is the one who carries the debt. Thus, despite not having signed the counter-guarantee at the time, it is perfectly possible to take someone to court to try to recover the money.

In addition, you have to know two more things before deciding to become the guarantor of someone’s debt. The first is that the guarantee agreement only regulates the relationship and obligations between the guarantor (José) and the bank, but does not say anything about the commitments that the debtor and the guarantor acquire between them (José and Luis); That is why it is so necessary to sign a counter guarantee.

The second thing is that, if the person needs a guarantor to obtain a loan that is not a mortgage, there are products in the market that make it possible without having to commit a guarantor. This is the case of SUizaINVEST in Barcelona, SF Gold in Madrid and Barcelona or GodivaCredit throughout the national territory. These financial intermediation companies allow you to obtain large sums of money in 48 hours, without guarantee or payroll and regardless of whether the applicant is registered in a list of defaulters such as RAI or ASNEF. That yes, we will pay a higher interest than we would pay in the bank.



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Goodwill with it. Each of us sets goals, then during the year “forget” or pretend to do so. The month of January is always purposeful and you have the desire to get involved. From a research by Richard Wiseman – Professor and Researcher at the University of Hertfordshire – en Emerges That 78% of people begin to transgress almost immediately.

Here they are in detail:

Consolidate your installments

Your e-mail address is available at the top of our list. Though it is not among the things you think about, Cessione del Quinto is an opportunity to decrease your exposure. Suffice it to say that it is one of the most easily obtainable loans.

Renovate your home

A satisfactory lifestyle also passes through the renovation of one’s home: For example, having a bath that is not ashamed when one has been one of the reasons discussed for years and because of the exorbitant expense we tend to postpone. In fact, the assignment of the fifth salary is a form of fixed rate financing with the payment of the installment, which is held by the employer or the social security agency.

Take a family trip

So much work in the year and a family trip that we would love to do. Google is the most sought after destination by the Sardinians on Google. This is because it is ideal for a family; mother and father rediscover their love and children can see a new country, famous for its cultural attractions and for romance. With the arrival of the new year. You know that you are extra credit, you know how much your credit card is paid to you  and give your family an experience to be framed. Many photos will remain on your computer.

Buy a new car

We usually buy our first car at 18, once the driver’s license is taken. Growing naturally we change from the high cost of cars, the car remains the same, but now no longer reflects. This is what we like most. We can go where we want, when we want it and take it with us who we want. The assignment of the Fifth satisfies our sense of freedom, in fact the financing is of a maximum duration of 10 years. Employees or retirees can request their free consultation immediately.  This loan will be reimbursed by the user through the automatic charging of the individual installments in the payroll or on his pension. 

Payable without problems

Being living in a harmonious and balanced environment contributing to the well-being of one’s family. What better way to search for? I know that they do not burden the rest of the expenses. To be a welcoming family who can work in a transparent manner, which follows the laws of the consultants rather than following the laws of the sellers. Skilled at listening. Agencies like ours with a ten-year experience that intertwine the individual’s attention to the problem of seemingly unsolvable problems 


German Finance Minister Schäuble: Greece does not need options because it does not want a program

German Finance Minister Schäuble: “Greece does not need options because it does not want a program”

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German Finance Minister Wolfgang Schäuble has acknowledged that he is not very optimistic about the possibility of Greece and its euro zone partners reaching an agreement on debt on Monday. Upon arrival at the Eurogroup meeting he assured that “no options are needed if Greece does not want a program”.

Asked if the Eurogroup will find a solution to Greece’s debt problems, Schäuble has responded: “From what we’ve heard from the technical talks over the weekend, I’m very skeptical, but we’ll have a report today and then we” See “The minister made the remarks in an interview with the Deutschlandfunk radio station on Monday, hours before the Eurogroup, made up of the euro zone’s finance and the economy ministers .

“I am very skeptical” from the technical conversations over the weekend

The German politician has insisted that Greece should leave the euro zone, but that the new government of Athens must meet the main conditions of its rescue program. In this sense, he believes that it is not about finding a compromise agreement “only for the sake of a commitment”.

Read also: Time is running out and Dijsselbloem sees it difficult to reach an agreement on Monday with Greece

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“The problem is that Greece has lived beyond its means for a long period of time” and he added. Thus, the German Finance Minister described as “quite irresponsible” the behavior of the new Government of Greece and recalled that it is not very useful to insult those who have given you support.

The German Finance Minister described as “quite irresponsible” the behavior of the new Government of Greece and recalled that it is not very useful to insult those who have given you support.

This critical attitude is added to that of other countries, such as Finland and Spain. In the case of the Government, the President of the Government has already said that

On the other hand, in an interview with the German broadcaster ZDF, the Austrian Finance Minister, Hans-Joerg Schelling, said the new Greek Executive seems to be still “in an electoral mode and not in a way of working”.


Economy / Finance.- The Euribor closes February in negative (-0.008%) for the first time in history


Economy / Finance.- The Euribor closes February in negative (-0.008%) for the first time in history

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The Mortgage Association estimates that the index has yet to sink to -0.5% so that the mortgaged do not pay interest


The twelve-month Euribor, the index to which most mortgages in Spain are referenced, has deepened its downward trend by subsequent chaining historical lows at a daily rate and closed the month of February.

In particular, the monthly installment has been set at -0.008%, compared to 0.042% that marked in January. A year ago, Euribor stood at 0.255%.

The index has accumulated 17 daily rate values ​​in negative territory, waiting for the ECB to activate more in the euro zone. Since last February 5, the Euribor is in negative daily rates and has been reduced to -0.024%, its lowest level in history.

Experts consulted by Europe. It could help curb the fall in the benchmark mortgage index.


For a mortgage of 120,000 euros to 25 years and with a differential of 1%, which would mean a saving of about 173 euros in the year.

With the exception of the interest rate with the entity, and with the exception of the capital of the debt . which would symbolically translate into the bank.

Speaking to Europa Press, Santos Gonzalez, has estimated that the Euribor would have to maintain its historical decline until it sinks to -0.5% to absorb the average differential in mortgages. If this collapse materializes, which Santos does not see very feasible, the mortgaged would stop paying interest on their loans to acquire their homes.

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Since the “mathematically it is difficult”, the president of the AHE has been asked “to encourage” the public debate. Santos has calculated the bulk of the average spreads of mortgages between 0.5% and 1%.

However, the experts will be aware of the profitability of the financial sector. this year. .

In fact, some entities such as Liberbank are finalizing new strategies to stop the hemorrhage caused by the collapse of the Euribor in the income statement. These banks proposed to include a minimum reference rate of 0%.


In this regard, the OCU has urged banks to comply with mortgage contracts. “Although it is unlikely, the fulfillment of the contracts will be demanded and the actions will be initiated to force the banks to fulfill the said contracts”.

The OCU has recalled the imposition of so-called land clauses, which have been These ceilings have been declared a lack of transparency.