Before signing for a guarantor loan for the first time, in reading the contract I'm confused by this wording
Your payment schedule will be:
- Number of Payments; 24
- Amount of Payments; $ 177.13
- When Payments are Due; Monthly, starting 30 days after the loan is disbursed to your guarantor.
I understand the terms of repayment. I'm not clear on that last sentence. Does that mean the loan goes to the guarantor first? And if so, what's the guarantee that guarantor will forward me the loan, that I will be responsible to pay back?