The guarantor vouches for the borrower – guarantees the bank that the loan will be repaid on time. The guarantor does not have to keep track of the borrower’s payment schedule. If the borrower is late with the payment for a couple of days, the guarantor is not threatened with anything. But if the delay is severe, the bank will demand from the guarantor, and then the debt will be reflected in his credit history. For large loans, co-borrowers and guarantors can be involved simultaneously. If the borrower stops paying, the co-signer will repay the debt. If he fails to make payments, the guarantor will have to pay.