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Nottingham solicitors who specialise in giving advice on personal guarantees

Are you concerned about a personal guarantee which you have given to a bank, landlord or other creditor? Our experienced solicitors can help.

A personal guarantee is when an individual agrees to be held responsible for paying the debts of another person or business. If you are a business owner and/or are a director of a limited company,  you may have signed a personal guarantee when you first started your business, signed a lease, or took out a loan. In the current economic climate, our enquiries in this area are increasing, as many banks are calling in business loans and when the company is unable to pay, the bank will seek to recover the money by pursuing the directors under personal guarantees.

Are you being pursued for money under a personal guarantee and need advice on issues such as:-

  • Do I have to pay the money demanded or are there other options available?
  • If I am legally bound by the guarantee, can I negotiate with the bank or other creditor to accept a lower amount than has been demanded?
  • Can I really lose my home or other assets or be made bankrupt as a result of signing the personal guarantee?
  • Are my business partners or other directors equally liable?

We have been able to help a number of clients in relation to these issues, for instance Mr W of Burbage was being pursued by a finance company for £70,000 in relation to a personal guarantee he had provided related to a Limited Company’s debts.  The guarantee was secured upon our client’s property by way of a legal charge.  He had previously been advised by another national firm of solicitors that he had no defence to the claim.  Our advice to our client was that he had a good technical defence to the claim, and eventually the finance Company accepted the token sum of £300 in full and final settlement to include the release of the charge over the property.

It is often possible to challenge the validity of a personal guarantee or limit your liability under it. However, these cases are rarely straight forward and advice from a specialist solicitor is highly recommended.

To learn more about the representation we offer, contact us online or ring 0333 355 9221 to arrange your initial consultation.

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What our Clients Say:

"John's work was excellent, I would recommend people to seek John's help without any reservations.  His help and advice was very sound."  Mr Latus, West Midlands

"Having been completely let down by my previous solicitor (who missed a crucial time limit causing a settlement offer to be withdrawn, and then went AWOL), I contacted Paul Davis at Nicholson Davis. Paul promised me 2 things:

a) he would try to win our professional negligence case against my former solicitor;

b) he would try to restore my faith in the legal profession.

Due to his professionalism he has certainly achieved both."  Mr Bass, Lincolnshire

"What can I say, there are no words adequate enough, a plain thank you does not do justice for all you have done in taking what was deemed [by other lawyers] a lost cause and getting such a resounding result."

"I was kept fully informed at every turn. John delivered the outcome I had hoped for within a short space of time. The service was simply first class"

"John is very astute, immediately seeing the way forward, he gave me peace of mind." Mr Granger, Leicestershire

"Nicholson Davis exceeded my expectations, were timely, very professional and I would not hesitate to recommend their service to anyone who finds themselves in need of legal representation." Mr Hobday, Leicestershire

"Paul has the skill and experience to be able to talk and explain each detail in layman's language every step along the way. His guidance through the uncertainty started to assure me I had (although better late than never) engaged someone who was not only was going to fight my corner but, as time evolved, also win my case.

I cannot speak more highly of a true professional who is a credit to his profession. I would not hesitate to recommend Paul to anyone who has to engage in a legal issue and I wish Paul and the rest of the team at Nicholson Davis every success in the future."

"Great from the start. Always rings when he says. Very professional. Knows what he is talking about. I would use Nicholson Davis again and would definitely recommend Nicholson Davis." Miss Briggs, Lancashire

"After speaking to several other solicitors before Nicholson Davis, I was very impressed in our initial telephone conversation. John digested the material very quickly and effectively. He understood the information without diagrams very quickly. He didn´t need to keep going over the same thing." Dr Partington, Hertfordshire

"We had high hopes as we had been recommended to use Nicholson Davis. We were very impressed. John knows his job and his areas of law. He handled our case perfectly. We were kept informed, with quick responses." Mrs Watson, Norfolk

"We were very very pleased. Our previous solicitor had been ineffectual with no personal service. We had far greater confidence in John and felt very reassured. Very good personal service." Ms Mackie, Leicestershire

"Paul was very helpful, explained everything. Thank you!" Mrs Lexster, Bournemouth

"I wasn´t expecting a speedy conclusion to my claim, but with your firm my claim was dealt with quickly, efficiently and to a high standard. Everything exceeded my expectations." Miss Azam, West Yorkshire

"I was very worried about using a solicitor. Now I am more than happy. Nicholson Davis let me know everything that was going on. I would definitely recommend them." Mrs Plahktienko, London

"Paul, my sincerest thanks to you again, can't tell you how grateful I am. You have done a super job and I will of course recommend you...." Miss King, Leicestershire

"We are very pleased with the service that you (Paul) provided me and will happily recommend you in future." Mr and Mrs Deans

Our Affiliations: PNLA Professional Negligence Lawyers Association