Code: 2.7.2 · Adults
Guarantors and collateral
Descriptors
Knowledge
What you can do at this level
- K
Aware that some credit providers may require a guarantor to cover credit payments in the event of default
- K
Aware that a asking for a credit may require a collateral to secure repayment of a loan
- K
Understands the social and financial implications of asking someone to become a guarantor and the responsibility it brings when credit repayments are not made
Skill
What you can do at this level
- S
Takes into account the social and financial implications of asking someone to be a guarantor
Attitude
What you can do at this level
- A
Confident to guarantee another person or to ask another person to be a guarantor
- Learning outcome types
- K — What you need to know: theoretical understanding and factual information.
- S — What you can do: practical and technical abilities.
- A — How you approach things: values, dispositions and behaviours.