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Personal Guarantee, Personal Guarantees and Director's Personal Guarantees

Directors Personal Guarantee Debt Claims - If you have been asked to pay a demand because the bank forced your business to close down or removed the business account lending you will require specialist advice to determine if the Director’s Personal Guarantees you signed before those events can be contested or now used against the bank’s claim on you.

IBAS provides experienced specialist and practical advice to our members on how to deal with and control the bank’s ‘collection’ activities after demand of the debt has been made on a Director’s Personal Guarantee. What can you do and how best to do it? Can you dilute your director’s personal liability under a bank’s director personal guarantee debt demand?

Those questions and many others have been asked in cases where IBAS investigate bankers and the bank’s actions.

IBAS will explain and identify all the issues for you when we take up any business banking case under membership - but before we can offer membership, we need to understand your case and what has already taken place.

As a non profit organization we cannot help everyone who enquires and we need to select cases which most require our specialist assistance. Often, a number of emails will be necessary for us to understand the specifics and what is being claimed. Once we have determined that we can assist with a case we can then offer IBAS membership.

IBAS is now in it's 25th year helping/guiding those with UK Business Banking disputes and Director's Personal Guarantee business debt claims - IBAS is the only UK non profit organization which provides business banking customers with specialist business banking assistance and specialist business banking guidance and also IBAS specialist business banking investigations.

Contact IBAS to see how we may help you

IBAS members are advised on all matters which may be raised in the course of their membership such as: Bankruptcy, Codes of Conduct issues, Company borrowings - which are now threatening the business owner’s home, Bank enforcing bank demands, Joint and Several Liability debts and Guarantees - how will that alter individual claims, penalty or overcharged interest, Charging Orders, Orders for Sale, Payment obtained from property equity, Full & Final settlements, phased payments and many others.

It is a normality that many of our members will have homes on which the bank can ‘see’ available equity - which the bank will know they can leverage by their actions to obtain payment of their debt claim/s. IBAS investigations centre on finding the facts with which we can best protect our member’s interest and their homes.

Independent Banking Advisory Service (IBAS) - IBAS launched in 1992 as a specialist unincorporated business banking membership organization assisting bank customers with UK business banking account loan disputes and business banking debt disputes with their bank. Our analysis and investigation of business bank loans, business bank accounts, business banking contracts, business banking account facilities and business banking debt recovery information has been instrumental in our member's success.

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'I found IBAS to be Impressive & professional with no nonsense. I followed IBAS strategy totally and the result was spectacular. Thanks for putting my life back on track and saving me a bucket load of money - I cannot thank you enough. I would now start with IBAS and ignore all the others who are 'selling' an imitation of these guys but without IBAS knowledge! - AT November 2016

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IBAS business banking dispute negotiating experience and proven strategy provides claims and defences for business bank customers. IBAS has excellent banking investigation reputation and has also featured on BBC TV, BBC TV News, ITV, Meridian and Sky News and in Sunday Times, Times, Daily Mail, Daily Express and Daily Mirror editorials evidenced in IBAS News Archive.

The first question in your mind when you receive a demand on your personal guarantee will probably be is the personal guarantee valid? or maybe your questions is can this personal guarantee be contested in any way - if so how?

IBAS 'case work' experience since 1992 has shown us how banks operate. IBAS has specialist knowledge, gathered from IBAS investigations of business banking account disputes over time and all IBAS knowledge and experience is used on your 'case' - no other organization has either our experience or IBAS knowledge. You will see in other 'advisors' web sites that once they have 'checked the validity of the personal guarantee document/s' their next step is to make a proposal.

But, 'checked the validity of the personal guarantee document/s' is not an 'investigation' of the 'taking' of a personal guarantee. It also assumes incorrectly that the validity of the guarantee documents alone means acceptance of the debt must follow.

IBAS investigate all areas of a Director's personal guarantee debt claim dispute because we know from very wide experience there are other areas (other than the documents themselves) which require very close examination. Much depends on other 'circumstances' involved at the time of the signing.

Banks seek security for lending in many ways but the PG is the easiest and the simplest for a banker to take (and the least resisted by the customer) particularly when bankers have not been truthful and stated: ʻitʼs only a piece of paperʼ or ʻthe bank will never rely on itʻ or when security on the home is being taken - the well used phrase of: ʻdonʼt worry we will never take your home, even if the business failsʼ. Banks and other lenders want you to sign a personal guarantee because it gives them a secondary source of payment if the business can’t pay back the loan and most we have seen are signed as ' deeds' which also means the bank has a 12 year limitation on which to rely for payment.

Those are areas in which IBAS has been ʻworkingʼ since 1992. We have found over time through our investigations that what was said before the personal guarantee signing or before other security for borrowings was taken is probably the most contested ʻbanking relationshipʻ dialogue. Bankers are very well aware of the legality of the signed Personal Guarantee (their banking exams specifically cover all aspects of taking valid security for the bankʼs benefit) and also how the bank will enforce on it later when required - it is often the ʻsellingʼ of the signing of a personal guarantee for a business which has been ʻmiss statedʼ by bankers in their quest to obtain the maximum security for their lending and in meeting loan/account/security targets. IBAS investigation on such matters focus on obtaining all information and evidence to properly investigate not only the circumstances of the lending but also the circumstances around the taking of all security by the bank.

Quote from a Daily Mirror article - John Stewart, director of Essex based IFA PMI, discovered the Independent Banking Advisory Service when one of his clients owed thousands of pounds on a house repossession. The debt was eventually cut to just over £1000. Since then he has referred a handful of clients who have serious debt to IBAS. Mr Stewart said: 'Sometimes as an IFA you have to admit that there is no advice you can give to help a person. In this financial sector there is someone who knows better'

IBAS help, guidance and advice on Director's Bank Personal Guarantees, Personal Guarantee debt claims, Bank Guarantees, Bank Joint & Several Personal Guarantees, Director's Personal guarantee and Indemnity and on Personal Guarantees for SFLGS can prevent the bank 'taking' your home.

Assumptions and theory do not work where a bank debt is being claimed from a director's personal guarantee, debt claim/company liquidation or company administration. CVA and Liquidation of Limited companies can present their own difficulties and Company Directors need to be aware of how asset sales and failure to collect business debts can alter their Director's Personal guarantee debt to the bank. It should be noted that an IVA arrangements will immediately force the bank to remove any overdrafts or loans previously agreed - so advise other than from the IVA or CVA provider themselves is necessary.

There is no mystery for IBAS in such matters and we are not 'learning' on your case. Our 'case work' experience has shown us exactly how banks operate. IBAS specialist knowledge and experience is unique only to IBAS. That's because it has been gathered from IBAS investigations into business banking account disputes and bank mistakes and we use all our knowledge and experience in every 'case'. A fully prepared defence can be drafted with the correct arguments. IBAS know how best to obtain all information necessary for defence purposes to prevent escalation quickly to a legal debt claim and avoid costly legal fees.  

The following statement is posted online: I want to give hope to others that may be going through what Barclays Bank put me through for over 4 years (2005-2009) - now I have no fear of them - what was at risk to me was a great deal – my home and my career ( I am in financial services and any judgement against me would have ended my 30 year career within the financial services industry).

The bank would have taken it all, despite them knowing they had a flawed claim. I joined IBAS (Independent Banking Advisory Service) as soon as Barclays sent me their opening gambit letter. This was the only fee I had to pay throughout my fight against Barclays. - “I know that IBAS provided me with the necessary tools to defend against Barclays successfully.” - DeeJay

The bold comments from DeeJay's online comment show exactly how IBAS assistance with director's personal guarantee debt claims with the correct strategy (IBAS Strategy) backed with IBAS experience and knowledge can destroy fear of debt for IBAS members.

The following statement is also posted online by one of our members: "The fact that IBAS have the knowledge and provide assistance in formulating the strategy, which was provided to me under membership and which provided the necessary case law ammunition and support (letters continually making the correct points) to prevent the bank gaining the upper hand (preventing me making offers which I wanted to make, just to get this case against me closed, and which would have destroyed any defence) - that strength of position then also enabled me to 'face off' the bank's threat (although the bank/solicitors knew their claim was flawed) and this strength of resistance then forced them to discontinue their action - this is all a matter of fact and something which IBAS should be very pleased about." Source

& they also wrote: I understand that so many cases are lost before they start because under threats from the bank the customer provides an offer of payment - without understanding there may be a defence to the bank's claim. Having been induced to make that offer, the bank then goes for the jugular. Apparently I am one of a very small band of successful litigants, which I wouldn’t have been without IBAS behind me. - DeeJay

This case illustrates just how dangerous Director's Personal Guarantees can be for those who have signed them. Also, it illustrates how IBAS Strategy works for IBAS members with Director's Personal Guarantee debt claims and also how each case 'turns on' it's own facts and information.

Bank debt recovery officers are trained to control conversations with customers once they have them on the phone. Bank debt recovery officer's training and their legal knowledge at debt recovery provides banks with a distinct legal and also psychological advantage. Particularly, when the customer is attempting to 'negotiate' themselves using the telephone. It is not an ordinary conversation and the customer is immediately placed under pressure and at a disadvantage as the bank's debt recovery officer takes control of the conversation to obtain what they want - which is information to use against you. They are not employed to 'advise' you - they are employed by the bank specifically to protect the bank and get your money from you. Customers have little knowledge of a bank's debt recovery strategy or how it operates but Bank debt recovery units are very skilled in defending the bank's position and are trained to use their legal position and knowledge to prevent defences from arising at an early stage in the bank's claim. That is why they seek your asset/income information - as a first priority. Immediately, they are provided with that information the customer is under pressure for payment regardless of any disputes or complaints which you may have previously raised.