Worried about a guarantee you have given to a bank, finance company or other creditor? Let us help you.
In the recent tough economic environment you may have signed personal guarantees to secure funding for a loan for your business or even that of a third party. You may no longer be involved with the business or even left it.
Banks and lenders have been particularly aggressive in pursuing recovery of any losses they have suffered and you may be faced with the prospect of losing your home or other personal assets secured by means of the guarantee. You may have signed the guarantee along with other directors or partners.
We have experience in dealing with guarantee claims and have successfully saved clients significant sums which they had otherwise considered paying after the initial threat of claim from the bank.
Some of the key points we will consider with you are:
Is the guarantee actually enforceable?
Are other guarantors equally liable and can I seek a contribution from them?
What risks do I face when being pursued under a guarantee?
What are the prospects of negotiating a settlement with the bank?
If a bank does contact you and claim money under the guarantee ensure you talk to us before providing the bank with any information. You will not want to prejudice your position or admit you have a liability to make payment.
Need help or advice?
If you have a dispute and would like advice please call us on 0333 577 5677 or complete our online contact form.