Stephensons Trustpilot stars
Based on count 911
View all reviews

Personal guarantees

Personal guarantees are often requested when starting a business or forming a limited company. They ordinarily mean you promise to pay the business debt should it fall in to financial difficulty be unable to pay. 

Our specialist lawyers can support clients when a personal guarantee is enforced by a lender. As legal professionals we can advise you on the implications of your personal guarantee before you sign to ensure you fully understand its terms. We can also become involved if a lender demands repayment under such guarantee to consider the validity of the agreement and any avenues for challenge.

For advice in relation to any aspect of a personal guarantee speak to our legal team on 01616 966 229 or complete an online enquiry form and we will contact you directly to discuss your situation.

Coronavirus Business Interruption Loan Scheme - advice to owners and directors providing personal guarantees - find out more

   

loading staff

Personal guarantee advice

Stephensons has a team of specialists experienced in the recovery of business debts by way of personal guarantees and have successfully assisted guarantors in reducing their liability. A high percentage of all business loans and banking facilities are now backed up by a personal guarantee. 

Advice should always be sought before a personal guarantee is entered into. Our commercial team can provide the advice and practical assistance required before the documents are signed.

It is not only major lenders or financial institutions that are seeking to secure their position by obtaining personal guarantees from directors. The use of personal guarantees is becoming more common with trade bodies. If your business has problems with late payment by limited companies, it may be worthwhile seeking a personal guarantee from its directors. Stephensons have legal expertise in preparing personal guarantees to ensure the agreement is clear and enforceable.

4.7out of 10
4.7 score on Trustpilot Based on count 911

We're Great

It is our business to deliver legal services that work for our clients, and you can trust our specialists to take care of things on your behalf.

Our Trustpilot reviews

Suspension on possession proceedings extended

On 5 June 2020, the Housing Secretary announced plans to extend the current stay on possession proceedings until 23 August 2020. This means that renters across England and Wales will now be afforded greater protection from eviction with the moratorium...

Read more

Twitter commercial

@CommercialLLP

Trio qualify

Stephensons has been proud to recruit apprentices at administration entry level for many years. We were one of a select number of leading law firms to engage with the Greater Manchester Chamber of Commerce’s ‘Employer Ownership of Skills’...

Read more

Commercial reorder

  • Jonathan Chadwick
  • Louise Hebborn
  • David Baybut
  • Kate Bullen
  • Chris Graves
  • Alistair Gregory
  • Philip Richardson
  • Julie Ball
  • Martha McKinley
  • Paul Davies
  • Jonathon Waterhouse
  • Jessica Charnock​
  • Julie Hunter
  • Adam Pennington​​
  • Andrew Whitehead
  • Sebina Noreen Malik
  • Mark Williams​
  • Martin Haisley
  • Terri Meehan
  • Laurence Searle
  • Kenneth Tang
  • Neil Marshall
  • Declan Gilroy​
  • ​Kerrie Ainscough
  • Matthew Smith