Do you need some help with a Personal Guarantee?

Innate Wisdom in Personal Guarantee Issues is the number 1 provider of services to minimise your exposure when faced with personal guarantee issues.

We measure our success on a regular basis to ensure we are delivering the best possible results and to improve our service for the benefit for those that we help both now and in the future. We have been helping people with personal guarantees since 2003.

There are a number of areas where our expertise can help you with regard to personal guarantees (click on the relevant link below or scroll down the page):

As of June 2014, we have helped hundreds of people deal with over £52 million of personal guarantees over the last five years and of this total, £12.3 million have been settled for £3.6 million with an average settlement rate of 29% (and a further £11 million of debt restructured to avoid the personal guarantees being called). We have helped with personal guarantees from as small as £1,000 to more than £10 million.

Bank Personal Guarantees

Bank Personal Guarantees

Bank personal guarantees come in many forms and sometimes can be secured against personal assets such as personal residential or commercial property. Each bank’s process in initiating personal guarantees and their debt collection processes vary considerably and, as we are experts in the field, we know what to expect and how to deal with the issue better than anyone else.

You might be about to sign a bank personal guarantee or have one called upon you, or you might be in a pitch battle defending one.

Wherever you are in the process, click on the relevant link below to see how we can help:

Asset Lease Guarantees

Asset Personal Guarantee

Asset leasing personal guarantees can be complex to say the least. Quite often it is confusing as to what kind of personal guarantee document you have signed because some are far more onerous in nature than others and it is important to clarify this to best protect your position.

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It is also important to understand that leasing companies have limited internal debt collection resources and tend to refer out to solicitors at a very early stage, which obviously escalates the matter (and the inherent cost involved). It is well worthwhile contacting us to discuss the options. For example, pre-December 2008 asset lease, hire purchase and/or finance lease agreements have particular issues that make enforcement difficult.
(see above). Time is of the essence if you want to mitigate your costsget in contact now so we can help clarify your situation to best protect your position.

Invoice Finance Guarantees

Personal Guarantees can often be provided to support factoring, confidential invoice discounting and other finance secured on a business’ debtor book.

Quite often verbal assurances are provided by representatives of the funders before or during the signing of a personal guarantee and it is important to understand these in the context of signing such a document.

There are also other traps for the unwary, including indemnities and warranties which can add further complexity to the situation.

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If you are about to sign a personal guarantee, these funders can be flexible on certain aspects of the document you are signing and it is worth contacting us to understand what flexibility there is to mitigate any potential claim.If you are being pursued on an invoice finance personal guarantee, time is of the essence if you want to mitigate your costs – get in contact now so we can help clarify your situation to best protect your position.

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Trade Supplier Guarantees

Builders Merchant Personal GuaranteeBuilders Merchants

These are very interesting documents because, as a matter of industry standard, they seem to attempt to include personal guarantees within credit application forms and have been doing so for more than 30 years. There are generally multiple opportunities for contesting these and, unfortunately, too many people try and contest the wrong things.

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Sometimes a personal guarantee is not part of a credit application form and these cases are treated differently. If this is the case, read “Other Trade Suppliers” below. If not defended properly when proceeding to court, the builders’ merchants will quite often win just because they usually have someone at the court arguing these cases day in, day out. So it is important to set out the right argument in the first instance.Contact us now to help establish a strong, robust response, clearly setting out the real reasons why will lead to a preferential conclusion.

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Property Lease Guarantees

Property Lease Personal Guarantee

Personal guarantees relating to property leases quite often form part of the lease documents themselves and the signing of such documents are usually rigorously controlled by solicitors.

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However, it maybe that it is a licence rather than a formal lease, or that there has been some assignment, and all these issues affect enforceability. In particular we find the real ability to enforce a personal guarantee can quite often depend on the construction of the lease document itself and how that stands up to current day precedents. So, to get the best advice possible regarding a property lease personal guarantee, contact us now.

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Other personal guarantees

Trade suppliers may create a personal guarantee that is part of the credit application form and for more information on this see “Builders’ Merchants” above.

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Sometimes a personal guarantee is part of an overall document that is not a credit application form or a separate document altogether, whilst the circumstances around signing the personal guarantee may have a significant bearing. These really do need to be considered on a case by case basis, so talk to us to help you get the best advice possible.

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