debt for personal guarantee

Company Directors and the Perils of a Personal Guarantee

Are you a company Director?

Has your business borrowed money?

Were you asked to sign several pieces of paper when you obtained the finance?

Do you know if one of them was a Personal Guarantee?

Do you know how much money you are guaranteeing?

Do you know what happens with a PG when a company can’t pay a debt?

Do you know you could have to sell your house?

Is your company unable to pay the debt?

Do you need to ask someone to help you?

Just over a year ago I did a short presentation which included these questions.

As I was leaving I was collared by a man, who had a work colleague who had answered ‘ yes ‘ to all the questions.

But he had no one to help him.

Later that day, I called his colleague.

We helped him, the call started a chain of events that saved him £20,000.

Have you got a PG?

Are you concerned about it?

Are you being asked to pay a company debt personally?

Would you like us to help you? Just get in touch for a chat and hopefully we can do the same for you.

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