Dealing with Personal guarantee issues
Dealing with Personal Guarantee issues with an example of a ‘personal Guarantee scenario’.
So, I signed a personal guarantee at a time when my company was performing well so it could grow. The loan taken out for the company at the time was not a risk. Still, now changes in 2020 are forcing the companies creditor whom the company borrowed from to demand repayment, falling heavily on me personally to repay, as secured by my guarantee!
Many individuals currently find themselves in this position nowadays. Former trading conditions, uncertainty over Brexit and the Coronavirus COVI19 Pandemic, however, caused concern and company failures to grow, mainly on the UK high street. Therefore, in many cases, a direct effect was that guarantees given are coming to a head, and directors who gave guarantees in good faith with well-performing companies are finding that their assets, such as their homes, are at risk.
For further reading, view ‘What happens to directors of an Insolvent Company?
However, do not panic if this is you?
Please contact HBG Advisory. We are a bespoke practice assisting those who experience corporate insolvency and then further experience personal solvency problems. Usually, the director has given personal guarantees to secure loans, supplies or equipment for their companies. However, an insolvency of your company may prompt personal guarantees you offered. We then negotiate with the creditor holding the security of a guarantee on such an occasion, ultimately securing a better outcome for our clients.
Your company’s creditors may call in personal guarantees secured, which may cause issues for individuals to have a personal guarantee executed, especially when your company has failed.
However, remain firm and fight the guarantee, do not capitulate on day one.
The team at HBG advisory has over 40 years experience in contentious negotiations involving insolvency issues, including guarantees, assisting many hundreds of company directors.
As a bespoke practice, we are considered professional in what we do, and minimise disruption nor introduce additional hassle for clients. We have an excellent success track record with no regulatory issues. We like to think our growing team adds value and success for clients.
Once we agree on terms, a team member from HBG Advisory remains assigned to you. Moving them forward, advising you on the strategy, indicating all critical areas and your involvement. A key partner is also appointed, allowing you to make contact while ensuring your wellbeing throughout the process. Remember, good health requires little or no stress!
How HBG Advisory help
Our team has many years of professional and commercial experience, assisting distressed clients through the trauma of Insolvency, and it’s resulting in issues. Having the ability to remain focused and robust, dealing with issues such as clients’ personal guarantees remains paramount. We do not merely bolster your counterclaim, but also lay down a vision for the result for you, which is achievable.
If you, please check out the foot of our website, you will view the professional bodies and organisations we are either authorised by or members. HBG Advisory are fully insured with professional indemnity to assure you are moving forward.
Importantly, we are not only professional, but also human, carrying on in life as Mother’s Father’s Daughter and Sons.
We understand and care. Why not request ‘‘Post Covid review” and understand your business’ viability and future.
We engage you, representing your best interest at all times.
If you require urgent contact, please contact HBG Advisory on:
All contact is confidential.
Personal Guarantee exposure during Insolvency.
The Sooner You Start, The Quicker We Can Commence Pour Protection!
Individuals, Directors believe in HBG Advisory.
- Most importantly, HBG Advisory offers transparency from day one with fees. Remember your first meeting remains‘free’, ‘confidential’ and ‘without commitment’.
- From day one, we will be open and upfront on your potential chances;
- Our team has many years of experience dealing with overturning or mitigating guarantees;
- Our team and associated practice use experienced legal professionals to support a viable action without wasting time and cost;
- We are seasoned commercial professionals who assure you of the highest integrity when dealing with what is a critical issue for individuals personally;
- Finally, all our team are approachable, and the art of success is often in the detail while listening.