Personal Guarantee – It’s Not My Signature

The team at Bell & Company help business owners across the United Kingdom and Ireland, who find themselves in financial difficulty as a result of personal guarantees....more

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Personal Guarantee – It’s Not My Signature

When there are surges in lending or surges in different types of lending, sometimes anomalies arise in terms of the legal documents (like a Personal Guarantee) and their validity. There are three main ‘surges’ we work with where particularly incorrect signature(s) arise:

    1. Those stemming from the Financial Crash of 2009 (yes, it’s still ongoing),
    2. The explosion of Peer-to-Peer Lending, and
    3. Asset Finance Agreements, where there can be conflicts of interest.

Our commentary above is measured because signing a Personal Guarantee falsely is a criminal act.

Therefore, you may think that if a Personal Guarantee has been falsely signed on your behalf that merely advising of that – will see the case ended. DEFINITELY NOT!

Personal Guarantees are a niche area of work and we fully review any falsely signed documents and ensure you fully understand the implications of reporting such acts.

Even if it’s not your signature, just asserting that fact will not resolve it, as the creditor involved, and their advisors will see this as an attempt to escape the requirements of their security, namely the PG.

Essentially, they will not believe you. Obviously, when any credit provider is advised of a wrongful signature it is a blow to them to say the least, as they have relied on the PG as security. It is our role to then manage their expectations and resolve the situation and this is never easy.

This is an area that unfortunately will compound as we see the introduction of legal signatures and as we see the number of cases involving poor practice and Due Diligence by lenders, during the said ‘surges.’

There are ways to resolve such issues but as ever it’s not that easy.
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