By Mr Bankruptcy 29th September 2021 When company directors set up a limited company, in part this decision is driven by the desire to limit personal liabilities if the business gets into financial difficulty, but are they fully protected from all liability? What is a financial liability? Liabilities are monies or debts owed by a […]
Read moreBy Mr Bankruptcy 15th March 2019 I’ve seen a large increase in my debt casework involving personal guarantees lately but it’s been a while since a case involved one of the big four UK high street banks. Most of the problem debt cases I’m dealing with involves secondary lenders. So what’s going on with secondary […]
Read moreBy Mr Bankruptcy 17th December 2018 Christmas – a time for giving gifts, eating and drinking and inviting friends and family around to celebrate. But if you’re already facing a personal debt problem, or your business is suffering from cash flow issues, then you may not feel like celebrating; you may be worrying that Christmas […]
Read moreBy Julian Donnelly 4th August 2015 Now I have your attention, I must stress that this is not representative of the sort of results we frequently get – I find it an interesting case study as it does highlight some interesting points in relation to personal guarantees (PGs) issued by the banks. Generally speaking, banks […]
Read moreBy Julian Donnelly 21st July 2015 I find it interesting that things seem to be going almost full circle in the banking sector, almost back to how it was when I first started in 1990. With the re-appearance of TSB (“the bank that likes to say yes”), we could also see the resurgence of another […]
Read moreby Julian Donnelly 21st April 2014 As a director of a limited company, it is standard practice for lenders (and indeed some suppliers) to request that you sign a Personal Guarantee (PG) to act as security for company borrowing. By doing this, the creditor will have recourse to the director personally in the event the […]
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