(1) A guarantor shall not by reason of the operation of this Act be discharged from liability under his or her guarantee.
(2) A guarantor shall not be liable to any further extent than the consumer the performance of whose obligations he or she guarantees.
(3) Nothing in this Act shall affect any agreement by the guarantor binding him or her to the performance of any obligation which is not one of the obligations imposed on the consumer under the agreement in respect of which the guarantee is given.