1. The private loan contract stipulates that the loan period is ten months, and only interest is paid after the expiration, which is a failure to fulfill the repayment obligation stipulated in the contract. Lenders can file a lawsuit according to the loan contract and guarantee agreement, and demand a judgment for repayment.

In other words, because the borrower fails to repay the loan in time, the guarantor needs to bear the guarantee responsibility.

2. Loans that provide guarantees for others are divided into general guarantees and joint guarantees.

General guarantee means that the parties agree in the guarantee contract that when the debtor fails to perform the debt, the guarantor shall bear the guarantee responsibility.

The guarantor of a general guarantee may refuse to undertake the guarantee liability to the creditor before the main contract dispute has been tried or arbitrated and the debtor's property has been enforced according to law.

Joint liability guarantee means that the parties agree in the guarantee contract that the guarantor and the debtor shall bear joint liability for the debt. If the parties have not agreed on the way of guarantee or the agreement is unclear, they shall bear the guarantee liability according to the joint and several liability guarantee. ,

If the debtor of joint and several liability guarantee fails to perform the debt at the expiration of the debt performance period agreed in the main contract, the creditor may require the debtor to perform the debt, or may require the guarantor to assume the guarantee liability within the scope of its guarantee.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.