Personal Guarantee Issues
As a director, you will likely be asked at some point to sign a Personal Guarantee (or PG) on a business loan. This is all good and well at the start of a commercial arrangement but when things go wrong and you find yourself being pursued for a Personal Guarantee.
To the side of this is a brief video are some of the typical scenarios we at Bell & Company become involved in and assist our clients to resolve.
Signed a Personal Guarantee?
If your creditor calls upon a Personal Guarantee, it is vital to be realistic and pragmatic. Often loopholes in Personal Guarantee agreements are the first thought when your loan is called in. Trying to remove a Personal Guarantee in this way can be an uphill struggle.
Outright denial usually worsens the situation.
We understand the ramifications and pressures involved, especially due to the risks of a Personal Guarantee in relation to your assets, including your home.
With such high stakes, whatever you do please ensure you get the best advice possible.
It needs to be advice from someone who has experience in this specific niche.
Bell & Company are the UK’s foremost Personal Guarantee specialists, we have been providing Personal Guarantee advice to business owners and Directors for over a decade. If you are worried about a Personal Guarantee liability, call us today on 0330 159 5820 for a free initial case review, our team are always happy to provide independent legal advice.