👉 In the context of financial or legal matters, a "preguarantor" refers to an individual who is responsible for paying off a loan or credit card debt. This could be someone who has been given a loan by another person or company and is required to pay back the amount owed to them. The term can also refer to a person who provides financial assistance to another party, often in exchange for their own personal property or services. In some cases, this may involve pre-existing agreements or contracts