Being a Guarantor: The liabilities?

Other than having to cover rent,damages and associated costs, are there any legal documents, charges or official account notes/footprints left or created against a mortgage/bank account etc?

I.e., By being a guarantor are one's accounts or the like affected in anyway in the meantime prior to any default on the tenant's behalf? Or is there nothing to worry about other than the potential end game?

Thanks

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