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Personal guarantees

With the current banking climate, high street lenders are increasingly looking at using personal guarantees as a way of securing their lending and eroding the limited liability status of a limited company.

For legal advice call us on 0114 249 59 69 or ask a question

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Personal guarantees

Personal guarantees are also known as PGs.

Directors will be asked to guarantee their company’s debt. If the company defaults on payment, the lender is entitled to pursue the director personally providing the guarantee.  In most cases, it does not have to pursue the company first or indeed at all.  This can mean that a director is at risk of losing his home and personal assets.

We would strongly advise and would suggest that it is imperative that any director entering into a personal guarantee takes legal advice before entering into such an agreement.

Contact Business Solicitors in Sheffield today

Our commercial solicitors are experienced in not only advising clients on entering into a personal guarantee but what will happen when a lender enforces the personal guarantee. Please email legals@bellbuxton.co.uk or call 0114 249 59 69 for more information.

For business law advice call 0114 249 59 69


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