Re:Companies that help people vanish
by 9nGQluzmnq3M on Monday September 07, 2020 @10:21AM
(#24399582)
In Japan you need guarantors even for mundane things like renting an apartment. This is particularly difficult for immigrants if they don't know anybody and their employer won't sponsor them.
That seems excessively prohibitive to personal growth.
On the other hand it makes lending easier.
Re:Companies that help people vanish
by SpelingBeeChamp on Monday September 07, 2020 @02:22PM
(#24401363)
I am not sure "afford" is the right word. If someone needs a guarantor, it means they can't qualify for the loan.
If the person needs a guarantor, it means that they cannot afford the loan.
Even if they have the best of intentions, life may happen (people die before their time for many reasons), they can get caught up with the wrong crowd and fall out of (financial) grace, a bad partner can get them to "drop this life and move away" (ignoring obligations), and you can end with a damaging debt.