AFT provide guarantee debt settlement solutions, including debt reduction agreements where a reduced payment is made as full settlement of the debt
We secure workable solutions to personal guarantee debt issues by taking a different approach
Personal guarantees from directors of limited companies are now common in the SME market. While you’re doing well it’s easy to ignore the potential implications, but the situation can change quickly if your business gets into financial difficulties.
Directors, who may not even be aware they have provided a guarantee, can be faced with a demand from the creditor or lender to make good the shortfall for any outstanding debt following a business insolvency.
We have extensive experience in dealing with personal guarantees and can provide help and support for directors, who may still be coming to terms with the failure of their business.
We’ll review the circumstances surrounding the taking of the guarantee to highlight any shortcomings or irregularities. Along with the client’s individual circumstances our review will become a key factor in seeking a sensible debt settlement agreement.
If you’re concerned about the implications of a personal guarantee it’s important to act quickly. You may receive letters and even a formal demand for payment. If you do you must not ignore them, as it will lead to your case being processed quickly through the courts and you will lose control over how the matter is dealt with.