The Guarantor stands in the shoes of the borrower and has all the responsibilities and liabilities that the borrower has. There can sometimes be a mistaken view by borrowers that the need for a guarantor is just something the lending insititutions look for but don't take all that seriously and that it is highly unlikely that a guarantor will ever be called on to cough up. Not true. If a person is asked to go guarantor, they need to be sure that they can make all the payments if the borrower defaults.