As a guarantor, you have some rights. You have the right to control the money. When the loan is approved the money goes to your bank account and you have two weeks to decide if you want to give the money to the borrower or send the money back to the lender. Moreover, you can delay the payment if the borrower starts defaulting every month. However, once you become a guarantor, you can’t leave or stop being a guarantor during the entire loan duration.