Setoff of directors redundancy to overdrawn directors loans
Below is an article by Chris McKay of McKay Business Solutions regarding overdrawn directors’ loan accounts, redundancy payment service and right of offset on insolvency.
Mel Loades
Personal Guarantee backed CBILS loans surpassed £2 billion
More relevant news from last year following a Freedom of Information request to the British Business Bank from Purbeck Personal Guarantee Insurance. Read the full article HERE
Call for Personal Guarantee register
This is old news from last year, but it is something that continues to be strangely absent given the number of people we see who have signed multiple personal guarantees for a variety of limited company business lending. Many high street banks have no formal personal guarantors register; however, with respect to secondary lenders who … Read more
PK – January 2022
After reaching an agreement relating to a PG and now bringing the matter to a close, I have to say that the service you and your team have provided was absolutely outstanding. This includes: swift responses, great negotiations with these heavy handed creditors, keeping us in the loop all along and most importantly we were … Read more
New criteria for Winding-Up Petitions
Chris Mckay of Mckay Business Solutions sets out new guidance on the winding up of companies for unpaid debt. READ HERE
MG – October 2021
I was recommended to Personal Guarantee after speaking to a friend who had gone through similar circumstances that I was struggling with. The heavy hand of creditors almost pushed me over the limit several times but Personal Guarantee were always a calming influence and understood the situation and always put my concerns at ease. It … Read more
ML – October 2021
We had a successful outcome from a nationwide wholesaler known for their rigid position on PG’s. Communication, professionalism and the support we received from personalguarantee.co.uk was of the standard we had hoped for and their experience helped navigate a very stressful situation.
JGF – October 2021
I would like to say a big thank you the team at Personal Guarantee for their hard work in negotiation an affordable agreement with a personal guarantee that was starting to get me down. The company was very pushy in their approach and Mel, Harry and the team took that pressure away from me where … Read more
If you cannot cope and/or are having suicidal thoughts …
Building on our article published on the 28th June as to the devastating effect on mental health that business distress has, if you find yourself unable to cope: • You could go to your GP but they are often overworked and unable to see you in a timely manner and some may not have the … Read more
Shoosmiths joint venture launch of Equivo Recoveries
Shoosmiths have setup with Chartsbridge a joint venture recoveries business branded as “Equivo”. We have already seen some of Shoosmiths’ collections and recoveries team, predominantly based in Northampton, move over to this new joint venture. You can find out more about this joint venture HERE