Company directors receiving a demand on a director's personal guarantee bank debt claim should seek specialist independent guidance immediately - an email to IBAS will allow you to obtain specialist guidance.
A Joint and Several demand on a director's guarantee debt claim does not mean sharing the amount claimed.
Are you prepared to defend the bank's claim?
Can you afford a solicitor - costing many thousands?
We have assisted many LIP's to obtain a better result after IBAS investigations.
A personal guarantee is an agreement made between an individual or individuals which means that if they act as a business director they then take a level of responsibility for their company's debts in the event that they cannot be paid back by the business or company itself.
If a claim is made under the personal guarantee, the director will be liable to pay the company or businesses debt and the partner, proprietor or company director personal assets may be at risk as they become liable for the business debt covered by the guarantee.
Personal Guarantees on Bank Business Debts or business banking debts or disputes for Limited Companies allow the bank to claim a debt is owed personally by the personal guarantor if the business fails or the Limited company cannot pay the debts claimed on the bank's demand.
It is not enough for a personal guarantor to resign from the company and even if a company director resigns that may not protect them from a bank claim on their personal guarantee for debts owed by the business whilst they were directors or partners.
If you need to have a release/discharge/end/finalize or determine a personal guarantee you will require specific advice to make sure the Personal Guarantee is no longer relied upon by the bank.
IBAS experience has proved to be the deciding factor in effective and sometimes almost miraculous settlements for business banking customers.
The question when you receive a demand for your director's personal guarantee should be is this personal guarantee valid?
or can this director's personal guarantee be contested in any way?
Who best can help you?
IBAS is completely independent.
IBAS is not funded by the Banks and Lenders seeking debt repayment from you
most 'free' advice 'agencies' are funded by Banks and Lenders seeking debt repayment from you
IBAS is not compromised in any way by Banks or other lenders.
IBAS provides professional confidential advice
and the best opportunity for success on your Bank Debt Claims.
IBAS has investigated a great many directors personal guarantee cases since 1992.
Directors Personal Guarantee bank facilities, agreements and debt claims resulting from lending facilities are rarely simple and can be extremely complicated. We have found that quick or easy answers at the enquiry stage are only possible where the case has already been lost or defences compromised.
Signing into a Director Personal Guarantee and Indemnity is intended to expose the guarantor to a legal claim on their assets by the lender if their Demand for Payment on the borrower is not or cannot be paid.
That is the Lender's intention when seeking a Director's Personal Guarantee with an Indemnity.
Many Guarantors believe that having a co-owner of the family property will then prevent the lender charging against or issuing a possession order or order for sale on their home after judgment.
But, in our experience Lenders obtain a judgment for debt so that they can 'take' any personal assets which are not legally protected.
Therefore, a part owner or co-owner of a property will not prevent any claim (charging order or order for sale) on that property once judgment is obtained in court against the bank customer.
Our experience shows that lenders obtain all property ownership and existing mortgage details immediately their debt recovery commences – they are then able to enforce on judgments once the Judgment for debt has been obtained.
IBAS fully investigate Director's Personal Guarantee Debt Claims and that has been our standard practice since 1992.
Only after IBAS have fully investigated the 'paperwork' for each Director's Personal Guarantee debt claim can we ascertain whether there may be defences.
IBAS coaching and tactical guidance is available for IBAS members.
This is a battle that we have won, which could quite easily have been lost had I not joined IBAS.
I would recommend them to absolutely everybody" - TM Testimonial
There is no other non - profit UK organization providing independent and specialist individual business banking advice and specific assistance to members.
How can we help you? - email your 'situation' to IBAS
We have been investigating business banking cases since 1992 and we know what can be achieved using IBAS strategies.
If you are being asked to sign an indemnity with a directors personal guarantee now - check with IBAS first before you sign.
If you have already signed into a Director's Personal Guarantee with an indemnity make sure you FULLY understand what that means for you - if your company cannot pay the bank later.
IBAS provides experienced specialist, practical advice on how best to deal with and control the bank activities after demand of the debt has been made on a Directors Personal Guarantee.
What can you do and how best to do it?
Can you 'get out of the personal guarantee' - is it possible to do so?
Can you dilute your director personal liability under a bank director personal guarantee debt demand? Those questions are always being asked where IBAS investigate bankers and the bank actions.