It can take years of hard work to build a successful business, and so exiting that business can be a very difficult decision for an owner to make. For others who have an exit strategy in place finding a buyer may be difficult, particularly in certain...
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 0203 816 9303 or complete an online enquiry form and we will contact you directly to discuss your situation.