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One practical step

Money

Set boundaries before guaranteeing a debt

You understand the documented obligations before deciding.

  • Time: Not specified
  • Cost: Not specified
  • Impact: Not specified
  • Difficulty: Not specified
  • Evidence not rated

Done when

You understand the documented obligations before deciding.

You understand the documented obligations before deciding.

Who this is for

People asked to guarantee debt; you may decline or seek advice first.

Why this matters

Potential obligations are considered before signing.

How to do it

Guidance compiled from the references below; follow the applicability notes for this item.

  1. Read the full agreement, amount and scope.
  2. Ask the lender when liability arises and how it ends.
  3. Do not sign if unclear or unaffordable; seek independent advice.

Evidence and references

Last reviewed: · Version 2