What's the difference between co-borrower and the guarantor?

1. What's the difference between co-borrower and the guarantor?

1. The difference between co-borrower and guarantor is as follows:

(1) Different responsibilities, co-borrower must bear joint and several liability for compensation, and the guarantor only bears the guarantee liability;

(2) The limitation of action is different. Creditors in co-borrower can claim their claims from them within three years. For the guarantor, it is generally necessary to claim compensation within six months after the expiration of the guarantee responsibility.

2. Legal basis: Article 5 18 of the Civil Code of People's Republic of China (PRC).

There are more than two creditors, and if some or all creditors can request the debtor to perform the debt, it is a joint creditor's right; If there are more than two debtors, and the creditor can request some or all debtors to perform all the debts, it is a joint debt.

Joint creditor's rights or joint debts shall be stipulated by law or agreed by the parties.

Article 5 19

If it is difficult to determine the share between the joint debtors, it shall be deemed that the share is the same.

A joint debtor who actually undertakes more debts than his share has the right to recover the excess from other joint debtors within the scope of unfulfilled share, and shall enjoy the rights of creditors accordingly, but shall not harm the interests of creditors. Other joint debtors' defenses against creditors may claim against the debtors.

If the recovered joint debtor fails to perform its share, it shall be shared by other joint debtors in proportion within the corresponding scope.

2. Does co-borrower need to bear all the debts?

Co-borrower does not have to bear all the arrears. Co-borrower can only sue one person. Where the debts of some joint debtors are exempted by the creditors, the debts of other debtors to the creditors shall be eliminated within the share of joint debtors. If the debts and creditor's rights of some joint debtors belong to one person, the creditor's rights against other debtors will continue to exist after deducting the debtor's share. Where the creditor's payment to some joint debtors is delayed, it shall be effective to other joint debtors.