Pptc153 2025

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A guarantor is an individual that agrees to pay a borrowers debt if the borrower defaults on their obligation. A guarantor is not a primary party to the agreement but is considered to be an additional comfort for a lender. A guarantor will have a strong credit score and earn sufficient income to meet the obligation.
If you are asked to be a guarantor: Check the terms and conditions. Get independent legal advice, such as from a Community Law Centre. Make sure the lender does an affordability test on you, as well as on the borrower. Avoid using assets worth more than the amount owed as security, such as your home or car.
Entry into Canada: Canadian law requires that all persons entering Canada carry proof of citizenship and identity. A valid U.S. passport, passport card, or NEXUS card satisfies these requirements for U.S. citizens. Children under 16 only need proof of U.S. citizenship.
However, you should only be a guarantor for someone you trust and are willing and able to cover the repayments for. To be a guarantor youll need to be over 21 years old, with a good credit history and financial stability. If youre a homeowner, this will add credibility to the application.
PPTC 203 E : DECLARATION CONCERNING A LOST, STOLEN, INACCESSIBLE, DAMAGED OR FOUND CANADIAN TRAVEL DOCUMENT. Page 1. PROTECTED WHEN COMPLETED - B. Page 1 of 2. DECLARATION CONCERNING A LOST, STOLEN, INACCESSIBLE, DAMAGED OR FOUND.
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You can usually be a guarantor if: You are over 21 years old. You have a good credit history. You have a separate bank account to the borrower.
A guarantor is a person who guarantees your identity. This person must have known you for at least 2 years and well enough to confirm the information in your application is true.

pptc 153 e