A director may give a personal guarantee to a lender to back the company’s debts, with the guarantee creating personal liability if the business cannot repay. A solicitor in this area reviews the guarantee, explains what liability is triggered, and checks for limits, caps and any carve-outs. They advise on negotiating terms, potential exemptions, and whether a deed of novation or rider could alter the obligation. They also help with repayment, restructuring, or exit strategies and explain the implications if the company fails.
Where a solicitor protects your position
A personal guarantee makes the director personally liable for company debts if the business cannot pay. A solicitor can identify the exact liability, any caps or exclusions, and what steps may expose personal assets. They explain remedies lenders have, how to negotiate terms to reduce exposure, and how acts under insolvency or corporate rescue processes could affect the guarantee.
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