A thing is that the guarantor becomes the defaulter in case if the person whose guarantee he gives defaults. That brings the guarantor in very odd position. Legally speaking the guarantor is liable to compensate the loss inflicted by the person on whose behalf he/she guarantees.
If the guarantor doesn't compensate for the loss as per the terms of document he/she signed being a guarantor, such a person has to face dire consequences. The property of guarantor can be attached and auctioned through court. Similarly in some matters, the guarantor can be arrested by the court of law.
If you are facing any legal consequences being a guarantor, do write us at firstname.lastname@example.org
Salman Yousaf Khan