Is it true that rural credit cooperatives are withdrawing funds from outsiders now?

A big bank like a credit union won't entrust that kind of informal collection to collect money.

The loan guarantor of rural credit cooperatives shall bear the following responsibilities according to the different guarantee methods:

1. As the guarantor of the general guarantee responsibility, he has the priority right of defense. That is to say, before the debtor's property can't be performed after being enforced by the court, the guarantor can refuse to undertake the guarantee responsibility to the creditor.

2. As a guarantor of joint and several liability, he shall bear the same repayment liability as the debtor and shall not enjoy the right of defense. That is, regardless of whether the debtor has property or not, the guarantor has the obligation to undertake the guarantee responsibility and repay the debt to the creditor.

3. If a specific property (real estate, etc.). ) is mortgaged to provide a guarantee, when the debtor fails to perform the debt, the credit cooperative can apply to the court for auction and sale of the property, and the property will be paid in priority.