[Anonymous]

I guess I’m a little confused about suretyship. Here is my question.. Why would someone choose to be a surety for someone else? What benefit do they get out of that relationship?

If someone could explain this with an example that would really help me grasp this whole topic a lot better. Wiley assumes I just know all this stuff!

[Brenna]

In my experience, my mother was a surety for me with my student loans. She was my co-signer. I hope this somewhat helps you out?

[Operation_CPA]

I don't really think there is any benefit to the surety to be honest. For example: Let's say I am paying rent of $3000 a month in NYC and my Dad is the surety. If I don't feel like paying my rent for 3 months, the landlord doesn't even have to try to go to me for the funds – he can immediately go right to my Dad who would be directly liable to pay the $9,000 bucks. Now, if he had been a guarantor, I believe the landlord would have to do everything in his or her power (i.e. exhausting all legal remedies) to obtain the funds from me before going to him, the guarantor. Someone please correct me if I am wrong.

[Author]

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