A person who shares the responsibility of guaranteeing or backing up a loan, contract, or obligation alongside another guarantor.
From 'co-' (together) combined with 'guarantor,' following modern English legal terminology.
When you co-sign a loan as a 'coguarantor,' you're equally responsible if the primary borrower defaults—banks use this as extra insurance, but it can seriously damage a coguarantor's credit if things go wrong.
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