If you’re a business owner dealing with insolvency, things can become even more worrying if your private wealth is also at risk as a result of personal guarantees.
You may have one or more personal guarantees as the result of business loss in the past. This means that your personal assets are at risk, as well as those of the business. This can be an incredibly stressful time; fortunately, there are options available to you.
At Corporate Clinic, we can help to either extract you out of a personal guarantee or we can negotiate a deal for your personal guarantee debt and agree on a discounted settlement amount to make things easier for you. Call us for an informal, confidential discussion about your business and finances, and we will advise you on how best to act.
Contacting creditors can be an intimidating process. We can help alleviate this stress by contacting the claimant, as well as any third parties who may be involved to make an agreement that benefits your business as much as possible and is in line with legal requirements.
If you’re concerned about personal guarantees at the same time as dealing with corporate insolvency, get in touch with us today and we can start planning your next move together. As well as providing debt management services, we devise strategies that can help protect your business and improve its overall health in the future.
Call us today for an informal consultation and let us help deal with your personal guarantee worries.