Security is a common financial act, which means that a person bears joint and several responsibility for the obligations or obligations of others. In the course of a loan or credit card application, it is often necessary to provide the guarantor as a strong source of credit for the borrower. However, for a variety of reasons, it may sometimes be necessary for the borrower to cancel the guarantor already created. This paper will analyse how to apply for the cancellation of the guarantor from several angles。

How do you apply for the cancellation of the guarantor

First, the type of guarantor should first be identified. The guarantors may be divided into natural persons and legal persons. In the case of natural person guarantors, it is generally only the borrower that can apply for the cancellation of their security liability. In such a case, the borrower may, in consultation with the guarantor, provide the bank with the necessary application material, such as a loan contract, the borrower's call record, proof of income, etc., to enable the bank to assess the feasibility of removing the guarantor. If the bank agrees, the parties need to enter into an agreement releasing them from the guarantee. In the case of a legal person guarantor, it is generally not possible for the guarantor to voluntarily request the cancellation of the security. The borrower is required to consult with the bank on its own initiative and to provide the relevant application material on the basis of the facts, and the bank assesses whether to agree to cancel the legal person's security。

Secondly, the conditions for the removal of the guarantor are known. Revocation of the guarantor generally requires certain conditions to be met. First, borrowers need to prove that they are in a good credit position, that they have sufficient repayment capacity to be able to pay for themselves. In addition, the borrower would need to provide sufficient grounds for security relief, such as a change of relationship, a change of economic circumstances, etc. In the light of these factors, the bank assesses whether the guarantor's liability can be waived。

Third, alternatives to security could be considered. In some cases, even if the original guarantor is removed, the bank will need to guarantee the security of the loan, which will require the provision of alternative guarantees. Common alternatives to security include the provision of other guarantors, additional collateral or third-party security. Borrowers may, in consultation with the bank, choose the most appropriate alternative security in their own circumstances。

Finally, an application for cancellation of the guarantor would require attention. When applying to cancel the guarantor, the borrower needs to agree with the guarantor to avoid unnecessary disputes. At the same time, borrowers may also seek legal assistance to ensure that their rights and interests are safeguarded. In addition, borrowers need to submit relevant applications to the bank in a timely manner and wait patiently for the results of the bank ' s review。