Personal Guarantee Dispute Solicitors in Birmingham, London and Northampton
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At Witan Solicitors, our personal guarantee dispute solicitors can support you, as an individual or business, if you are worried about a guarantee you have given a creditor. Since 1986, we have been successfully resolving dispute cases across Birmingham, London and Northampton. With our professional knowledge and approach, we can support you to ensure your case comes to a swift and promising outcome.
We offer a range of accessible funding options, enabling anyone to access our personal guarantee dispute solicitor’s excellent legal advice. Contact us today on 0300 303 2071 to arrange a no-obligation consultation with our experts.
Our Personal Guarantee Dispute Services
In starting a business, arranging a loan or signing a lease, it is common to be asked to sign a personal guarantee. However, if you are now being pursued under this agreed guarantee, our personal guarantee dispute solicitors can provide legal advice under the following concerns:
- Are there other options or must I pay the demanded amount?
- Is the personal guarantee legally binding? Is it possible to negotiate or lower the amount?
- Will I lose my home or assets?
- Can I be made bankrupt as a result of the personal guarantee?
- Are other business partners or directors also liable?
While personal guarantee disputes are often complex, our specialist solicitors can explore your case and help you understand the reality of your situation. It is often possible for personal guarantee solicitors to change the validity or limit the liability of your agreed guarantees.
What Is Personal Guarantee and When Is This Required?
If your business is unable to repay a financial agreement, a personal guarantee names another individual as personally liable. This person could be another company director or simply a family member or friend.
Personal guarantees are common when business loans or tenancies are arranged, particularly for start-ups and SMEs. In these cases, it tends to be a director who steps forward to guarantee a loan. This is often on the assumption that there will never be a cause for the lender to come knocking.
The Impact of Personal Guarantee
For the individual who has personally guaranteed a loan, if ever the business was unable to meet their payments and defaults, they would be expected to step in. The business’s financial problems would then be extended to the personal guarantor.
When it comes to English Law, the legislation tends to favour the lender. Often a case made by a company director or individual who has been stated as the guarantor will be met with some scepticism. However, with a specialist personal guarantee dispute solicitor representing you, they will be able to best represent your case and financial difficulties.
Our Approach
Fortunately, at Witan Solicitors, we are no strangers to personal guarantee dispute cases. Our professional lawyers are aware of the range of legal avenues they can explore when assessing your personal guarantee and looking to reduce your liability.
By assisting with the initial review of your position and assessment of your exposure as a personal guarantor, we can take care of your entire case, including representation in any upcoming court proceedings.
Key Legal Issues Affecting Personal Guarantees
Discover the key legal issues that can affect personal guarantees from our years of experience.
Contractual Formalities and Issues
For a court to give effect to personal guarantees, the terms must be complete and certain. The guarantee has to be in writing and willingly signed by the proposed guarantor or someone who can legally sign on their behalf. A personal guarantee that is not stated in writing/electronically in writing is not enforceable by law.
Personal Guarantee Characteristics
The characteristics of a personal guarantee come down to something referred to as ‘co-extensiveness.’ What this term means is that the named guarantor’s liability is directly related to the underlying obligation on which they entered into the agreement. The personal guarantee’s co-extensiveness will not apply to indemnities unless an indemnity agreement is signed.
Unfair Terms Of Guarantee Contracts
Fairness and measures of reasonableness apply to all personal guarantees in standard form. If any term is deemed in any way unfair, the agreement may not be legally binding.
Misrepresentation And Undue Influence
A personal guarantee may come under question whereby misrepresentation and undue influence arises, particularly if a fiduciary relationship exists.
Why Should You Choose Witan Solicitors?
At Witan Solicitors, our personal guarantee dispute solicitors near you are highly qualified to deliver resolutions quickly and efficiently. We know how stressful personal guarantee disputes can be, and that is why we look to shoulder the weight of your case, helping you with the best legal direction for your unique circumstances. Let us protect your best interests and represent you throughout.
With Witan Solicitors on board, you will benefit from:
- 35+ years of experience resolving and supporting personal guarantee disputes
- Highly trained and qualified dispute resolution solicitors
- Personal guarantee dispute solicitors in London, Birmingham and Northampton
- Legal 500 recognised and recommended lawyers
- Professionalism throughout your case
- Jargon-free and honest legal advice
- A range of different funding options
Contact Us
Are you in need of our legal expertise in relation to concerns regarding your personal guarantee to a creditor? Get in touch with our personal guarantee dispute solicitors today on 0300 303 2071, or send us your query at info@witansolicitors.co.uk. We are proud to offer a no-obligation initial consultation to anyone considering Witan Solicitors. Our experts are based in Northampton, Birmingham and London, discover our rusted dispute solicitors near you.
Qarrar Somji
Solicitor-Advocate
Qarrar qualified as a Solicitor Advocate in 2014 having previously had experience in a varying range of litigation roles.
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