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Emergency

Being released from a guarantee

A guarantee often binds you for years and can become a threat to your existence. You cannot get out of a valid guarantee just like that. But there are ways, from an amicable release to the question of whether the guarantee is valid at all.

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Your chances of getting your money back

With a guarantee, you undertake to answer for the debt of another (§ 765 BGB). You are generally only released from the liability if the creditor consents or the secured principal debt is extinguished.
Guarantees can be invalid, for instance in case of gross financial overburdening of close relatives (immorality) or in case of formal errors. Guarantees limited in time or amount also end when the limit is reached.

What you should do now

  1. 1

    1. Check the guarantee

    Look at whether the guarantee is limited in time, limited, or possibly invalid.

  2. 2

    2. Clarify the principal debt

    Clarify whether the secured debt still exists or has already been paid off.

  3. 3

    3. Seek a release

    Negotiate with the creditor about a release, for instance against a substitute security.

  4. 4

    4. Check validity

    In case of suspected overburdening or formal error, have the validity examined.

How to spot the scam

  • A guarantee unlimited in time was signed 'into the blue'.
  • The guarantee grossly overburdens you financially.
  • The creditor calls on you although the principal debt is unclear.

Frequently asked questions

Can I get out of a guarantee again?

A valid guarantee generally only releases you with the creditor's consent or the extinction of the secured principal debt. A release is possible, for instance against a substitute security. Guarantees limited in time or amount end when the limit is reached.

Can a guarantee be invalid?

Yes. A guarantee can be immoral and thus void if a close relative without their own interest is grossly financially overburdened. Formal errors can also lead to invalidity. Then you are not liable. This must be examined in the individual case.

What is a guarantee limited in time?

A guarantee can be limited to a maximum amount or a certain duration. When the limit is reached or the time elapses, the liability ends. When entering into a guarantee, watch out for such limits in order to keep the liability manageable.

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General information for self-help, not legal advice (RDG). In case of a high loss or uncertainty: contact a consumer advice center or a lawyer.