IBAS - Independent Banking Advisory Service
UK Directors Personal Guarantee Advice on Demand for Payment,
Directors Bank Personal Guarantee Advice Guidance and Help provided
Updated: 14th November 2023
WG's Testimonial to IBAS said:
"The 'peace of mind' was worth every penny of IBAS membership.
I am now 'free' from the bank personal guarantee debt claim.
We are totally indebted to IBAS for their expertise and absolute integrity in gaining that position.
Our resolution was incredible. We would recommend IBAS to anyone faced with a serious bank debt claim."
JE's UK Personal Guarantee Debt Claim was for over 500k and their Testimonial said:
"I want to thank you from the bottom of my heart
You have achieved more in two letters and less than 1000
than a posse of high ranking big charging solicitors have in over three years
I thank God for that Google search that brought us in touch and I thank God for IBAS"
IBAS acts for UK Business Banking customers
IBAS investigate UK Directors Personal Guarantee Disputes and Banking Debt Claims and we help defend banks legal claims or directors personal guarantee debt claims and we help UK Directors avoid personal guarantee court judgments on claims
IBAS provides UK Directors Personal Guarantee Debt Claim advice help, guidance and assistance - If you have been 'served' with a bank demand you need specialist advice to assess if the Director Personal Guarantees you signed can be contested now.
Directors Personal Guarantee debt claim disputes can be very complex and IBAS experience is that too many business banking customers wait too long before obtaining specialist help in UK and that creates pressure on the customer to make proposals to pay.
A personal guarantee is an agreement between an individual or individuals which means 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 business debt and the partner, proprietor or company directors' personal assets may be at risk as they can become liable for the whole business debt that is 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.
If you need to obtain 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.
Bank demands are extremely stressful - IBAS can act between the Bank and the customer diluting customer stress and also protecting the customer from bank bullying.
IBAS early involvement allows the bank customer to continue with their work and their life whilst the Bank/Lender's concentrate their thoughts on IBAS requests for specific information and providing information to IBAS rather than commencing legal actions.
We are happy to peruse documents and provide input remotely
Paul's Case: Both Paul and his brother signed a joint Personal Guarantee for their company. The company failed. The bank made demand on them both for a significant amount.
They requested IBAS direct assistance with the Bank's Debt Demand Claim on their Personal Guarantees.
IBAS assessed the preliminary documents and the brothers provided their statements as requested on what had happened, when and how regarding the 'signing' of the Personal Guarantees.
The customer's statements conflicted with the bank's documents and the Bank's explanations.
IBAS investigation of the first bundle of the Bank's information caused IBAS to raise our 'concerns' direct to the Bank, the Banks Debt Recovery Unit dismissed our 'concerns' and refused to accept that any irregularities occurred in taking the security.
Regardless of the evidence - Debt Recovery Units tend to believe they are right.
IBAS investigating skill and knowledge of historic cases mean we have the ability to look deeper into Banking Cases and are able to question not only why but also how security was 'taken'.
Having found a legitimate defence and also evidence to support it (which the Bank had hidden), IBAS continued to argue the merits of the customer's case and continued to 'engage' the Bank in negotiations and requests for further information to establish a trail of evidence for our use later.
IBAS progressed the case with the Bank direct on behalf of the customers. The customers carried on working, without worrying about what to do next and without the constant stress of contact with or from the Bank.
IBAS negotiations prevented large legal costs and the Bank issuing a legal claim.
Eventually, an acceptable compromise was agreed and as this prevented any risk to the customer's homes - the case was settled.
The moral of this extremely good result for the customers is that IBAS knowledge, skill and in depth investigations used immediately after the Bank demand protected the customer's homes and prevented both homes being 'taken' by the Bank. (Customer's Testimonial provided)
IBAS business banking account investigations experience, our expertise in analysis of business bank loans, business bank current accounts, business banking contracts, business banking account facilities plus our knowledge of business banking debt recovery strategy - has provided us with expertise in utilizing our specialist banking knowledge.
IBAS business banking dispute knowledge and negotiating experience provides IBAS members with proven strategy for business banking debt claims and Director's personal guarantee debt claims with almost miraculous settlements for IBAS members.
Company Borrowings - Bank threaten business owner's home after Bank's PG Debt Claim issued - Mr H signed a Personal Guarantee with his Bank to cover the borrowings of his company.
When the company failed the Bank aggressively demanded full payment of more than 100k
Mr H was advised (by other advisors) to offer payment but that would have placed his home at extreme risk from legal action, as the bank would seize that opportunity to apply for judgment and immediately apply for a charging order on his home.
IBAS investigated the PG claim and were extremely unsatisfied with the paperwork which the bank provided.
IBAS considered his Personal Guarantee was not legally reliable to support the banks claim.
After a good deal of written debate the bank was forced to agree.
They finally accepted that IBAS view was correct. They also agreed the Bank would not pursue their claim any further, or at all. - Mr H was absolutely delighted
Mr H's Testimonial stated: We would highly recommend your services to anyone placed in the same position that we found ourselves in.
AT's Testimonial for IBAS said:
"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!"
Banks seek security for lending in many ways but the Personal Guarantee 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.
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 bank and focus on how the bank will enforce on it later when required.
But, it is often the selling of the signing of a personal guarantee for a business which has been miss stated by bankers in their quest to obtain the maximum security for their lending or in meeting their 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.
IBAS provides good specialist advice and resolution before litigation and if IBAS is involved immediately after demand for payment by a bank, our aim is to gain all information which we know is necessary to assess legal arguments.
IBAS lay the 'groundwork' for successful defences of banking claims by first preserving any defences which then exist - and yes, we have assisted in many cases which have been won by our members after litigation in the County Court, High Court and the Court of Appeal.
IBAS experience and personal guarantee advice is extremely important for any business banking customer in dispute with their bank.
IBAS has obtained some very high value overcharges and considerable refunds from banks because we knew how to do it - but often those 'overcharges' also concealed the bank's intention for 'plundering' personal assets because Director's Personal Guarantees were being 'called' by their bank for 'payment on demand' of business debts 'secured' by the director's personal guarantee.
NB's Testimonial: " Just a quick note to thank you for all your help and guidance with my DGT issues over the past two years. Without your calm, concise advice, I think I would have gone mad!
I wouldn't hesitate to recommend your services to anyone with a Directors GT problem. Very best regards
- NB Testimonial
RS's Testimonial: "Thanks to the team at IBAS. God only knows where I would be today, had I not had the much needed help to take on the wrath of the monster known as "Nat West".
Once again, thanks for your assistance, not only this time but also a few years ago when you saved my 'bacon' then - as well. You couldn't put a price on IBAS's true value".
- RS Testimonial
DeeJay's Testimonial: 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 IBAS testimonial is posted online: I know that IBAS provided me with the necessary tools to defend against Barclays successfully.
"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 - Testimonial from DeeJay
The cases above show how dangerous Director's Personal Guarantees can be for those who sign them.
IBAS has featured on BBC TV, BBC TV News, ITV News, Meridian TV and Sky TV News since 1992 and contributed banking editorials and business banking articles for Sunday Times, Times, Daily Mail, Daily Express, Telegraph and Daily Mirror.
Independent Banking Advisory Service (IBAS) - launched in 1992 as specialist UK Business Banking Dispute Resolution Experts assisting and advising UK Business Bank customers with UK business banking account overdraft, loan disputes and business banking debt disputes.