I started a company during the pandemic and it grew steadily for three years before, abruptly hitting a period of sharp revenue downturn in 2023. With a lot of fixed costs I simply could not move fast enough to manage the situation and it was very stressful. Eventually I found a solution to move on … Read more
A year on from our previous update on trade suppliers, and the state of play remains very mixed. While the vast majority of trade suppliers have made efforts, since 2008, to reduce ambiguity when it comes to the inclusion of personal guarantees (PGs) within application forms for business trade credit accounts, others appear to be … Read more
Personal Guarantee are incredible! When my limited company went into administration I was left with a loan of £45k with a personal guarantee that I was unable to fulfil the £4K a month repayments for. Personal Guarantee negotiated on my behalf and got the total repayment amount down to less than half of the outstanding … Read more
Further to our last update in August 2024, Just Cash Flow plc (“JCF”), who went into administration in December 2022 have further extended the administration through to December 2026. There appears to be some confusion about who owns what personal guarantee debt, with assignments to various other organisations, so it is difficult to plot what … Read more
Following the liquidation of my limited company, Amex asserted that I was personally liable for an outstanding business credit card debt. I was unaware that the card carried terms making me personally liable for business borrowing on the card. This made an already stressful time even more challenging for me. I’m so pleased that I … Read more
We have had good success over the years in removing charges on personal properties that were put in place to support personal guarantees or limited company debt directly while the company was trading. This has been particularly successful where the demand on the personal/ guarantee charge, or the company debt itself defaulted more than 12 … Read more
