What is the guarantee for loans?
 The guarantee for loans talks each other of a payment commitment for with an obligation which is in favor of the creditor or also so called beneficiary, who is granted him by a third one, in case of not expiring with the principal forced payment. The guarantee for loans is the guarantee that one usually offers on the entire or partial payment of the acquisition of a credit. The same one talks each other of a tool for which the third involved individual promises to cover the payment of the total and his interests in case the original debtor will not expire with the same one. The figure of the guarantee for loans only is applied to those credit qualifications in which a third one supports acting of a person.
Usually, if a person wants to realize the request of a loan, it needs of the support of a guarantee, since most of the financiers do not run the risk of having problems with any debtor who could turn out to be a bad debt. In general, the fact of having a fixed payroll or of being the holder of real estate goods there are the requisites that the banks or financial institutions demand to grant a credit to a person since the same ones usually serve like guarantee for loans, therefore they will not need to resort to anybody so that it goes out of guarantee in the request of a loan. It is important to bear in mind that as well we said, a guarantee is a guarantee which target is to demonstrate him to the bank or to the financial institution that grants the loan, that although to title that he acquires the credit does not constitute sufficiently a guarantee for the same one, there exists a co-holder who answers for the holder promising to pay any type of debt that the same accent of paying. A guarantee for loans constitutes a public contract which is signed by a notary. The most common thing is that this step is carried out by means of the above mentioned notary who belongs to the same entity that is granting us the loan.
 Other one of the possibilities to which we can resort is that is realized from the office of the notary, although this will depend on the availability of three actors who interfere in the loan, but in case the guarantee for loans is used in a mortgage credit, the signing of the contract will be carried out in the same bank or financial lender. On the other hand we must say that there are two types of guarantee for loans: the expressed ones by natural persons (personal guarantee) and those that are bank guarantees, where who promises to pay the debt is the same entity. In case of guarantee for personal loan, we can say that they are usually used for those loans that are personal.
The most common thing is that the elected ones, and who offer to serve to us as guarantee for loans there is a person with whom we share a big confidence, like a friend or a relative, also in these cases, it represents a free guarantee what was helping us even more with the financing of the requested loan, we say this because there are many people who offers herself like guarantee for loan and retrieval a percentage of the same one. It is important that it takes into consideration that this one, in addition to being a practice very little ethical, is illegal. In case of the guarantee for bank loan, we can say that these are more sutilizados for the companies and also they are used very much in the contracts of rent of housings; but it is important that we think that an originated guarantee from a bank for loans, is not free since he will receive from the holder of the same one a commission.
Before signing the guarantee for loans
The giver of the guarantee for loans can go so far as to sign guaranteeing only a part of the same one, both in case of the personal guarantees and in the bank employees. Before signing this contract, the guarantor must have knowledge about the amount to pay and the term in which it will be paid. As soon as it was passed this period will remain completely free of his commitment; in simpler words, a guarantee for loans can endorse only half of the payment of the same one, when it is either the guarantee is cancelled either it will not have any more responsibilities and the prestario will keep on paying it without any support. In case of the period of validity of a guarantee for loans we must say that in case of some banks, the same ones keep on receiving quarterly commissions although the term of the guarantee finds finished that the endorsed quantity has been cancelled. The period of validity of the guarantee for loans does not have the obligation to coincide with the period by which the loan contract has been signed, and in this case, as soon as this period was finished, the holder of the loan must demand from him to the bank that of for finished in guarantee contract for loans.
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