Are you concerned about a guarantee which you as a business or an individual have given to a bank, landlord or other creditor?
We can help.
If you are a business owner and/or are a director of a limited company, you may have signed a personal guarantee when you first started your business, signed a lease, or took out a loan. We can help if you are being pursued for money under a guarantee and need advice on issues such as:-
- Do I have to pay the money demanded or are there other options available?
- If I am legally bound by the guarantee, can I negotiate with the bank or other creditor to accept a lower amount than has been demanded?
- Can I really lose my home or other assets or be made bankrupt as a result of signing the personal guarantee?
- Are my business partners or other directors equally liable?
It is often possible to challenge the validity of personal guarantees or limit your liability under it. However, these cases are rarely straight forward and advice from a specialist solicitor is highly recommended.