Have you ever been asked to be a guarantor for someone else’s loan? Often it is a partner or relative who asks, but nowadays it can also be friends or work colleagues. Usually it is difficult to refuse and you would be surprised at just how many of us often agree to be one without thinking of the long term consequences. Farah Razali of Zul Rafique & Partners shares some advice on the risks and consequences that comes with being a guarantor.



Image credit: Shutterstock.com

Have you ever been asked to be a guarantor for someone else&rsquo;s loan? Often it is a partner or relative who asks, but nowadays it can also be friends or work colleagues. Usually it is difficult to refuse and you would be surprised at just how many of us often agree to be one without thinking of the long term consequences. Farah Razali of Zul Rafique &amp; Partners shares some advice on the risks and consequences that comes with being a guarantor.

Image credit: Shutterstock.com

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Ringgit and Sense

We explore financial themes and help you make sense of the world of finance. From setting financial goals, managing finances, investing and understanding the various issues that affect our wallets. Ringgit and Sense wants to help you understand personal risk profiles, realistic investment horizons, retirement planning, managing education loans and health insurance plans, as well as breaking down the various personal finance products that are available.

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