Personal Guarantee, Personal Guarantees and Indemnity guidance
Any ex director receiving a demand on a director's personal guarantee bank debt claim should seek specialist independent guidance immediately - an email to IBAS will allow you to obtain specialist guidance quickly. A 'joint and several' demand on a director's guarantee debt claim does not mean sharing it!
Are you prepared to defend the bank's claim? Can you afford a solicitor - costing thousands? We have assisted many LIP's to obtain a fair result after IBAS investigations.
A personal guarantee is an agreement made between an individual or individuals which means that if they act as a business director they then take a level of responsibility for their company's debts in the event that they cannot be paid back by the business or company itself. If a claim is made under the personal guarantee, the director will be liable to pay the company's or businesses debt and the partner, proprietor or company directors' personal assets may be at risk as they become liable for the relevant business debt that is covered by the guarantee.
Personal Guarantees on Bank Business Debts or business banking debts or disputes for Limited Companies allow the bank to claim a debt is owed personally by the personal guarantor if the business fails or the Limited company cannot pay the debts claimed on the bank's demand. It is not enough for a personal guarantor to resign from the company and even if a company director resigns that may not protect them from a bank claim on their personal guarantee for debts owed by the business whilst they were directors or partners. If you need to have a release/discharge/end/finalize or 'determine' a personal guarantee you will require specific advice to make sure the Personal Guarantee is no longer 'relied upon' by the bank.
IBAS experience has proved to be the deciding factor in effective and sometimes almost miraculous settlements for business banking customers.
The ﬁrst question when you receive a demand for your director's personal guarantee will be is this personal guarantee valid? or can this director's personal guarantee be contested in any way - if so how?
Who best can help you? IBAS prepare business banking 'cases' and investigate business banking issues - so that a defence can be made - if it is appropriate.
But initially you need to know what you should not do if you have recently received a bank personal guarantee debt claim demand or a business banking debt claim.
If your business was forced into Lloyds Bank Business Support Unit, Royal Bank of Scotland/NatWest bank/RBS Global Restructuring Group (GRG) unit or HSBC Specialized Lending Unit - we know how they operate and how false defaults are engineered - lawyers do not have that specific experience or IBAS knowledge from such cases. It is also now documented that Mandatory referrals and transfers to such units were required by those banks and that any 'breakdown' of the customer relationship (whether engineered by the bank or not) was used to refer businesses to such units and that even the questioning of bank charging by the business was enough to 'trigger' the bank moving that business to what are effectively 'debt recovery units' and building up penalty fees and charging rates to drive up the debt then being claimed - so contact IBAS with your case details and let us know whether your company is still trading - or been forced into insolvency by the bank.
Business Support Units, Specialized Lending or Specialist Relationship Managers are all terms used by the banks for those individuals specifically employed by the bank to 'rip off' businesses by forcing or 'triggering defaults' - which forced businesses into insolvency situations, where the bank could then plunder the cash flow and assets and then having brought the business to it's knees 'follow on' to demands and then enforce on Director's Personal Guarantees to take their homes.
We have been investigating business banking cases since 1992 and we know what can be achieved using IBAS strategies developed and finely tuned since then. Can you afford to take the risk of using anyone else to help you?
IBAS provides experienced specialist and practical advice to IBAS members on how best to deal with and control the bank’s ‘collection’ activities after demand of the debt has been made on a Director’s Personal Guarantee. What can you do and how best to do it? Can you 'get out of the personal guarantee' - is it possible to do so? Can you dilute your director’s personal liability under a bank’s director personal guarantee debt demand? Those questions have been asked in cases where IBAS investigate bankers and the bank actions.
'I found IBAS to be Impressive & professional with no nonsense. I followed IBAS strategy totally and the result was spectacular. Thanks for putting my life back on track and saving me a bucket load of money - I cannot thank you enough. I would now start with IBAS and ignore all the others who are 'selling' an imitation of these guys but without IBAS knowledge! - AT November 2016
IBAS business banking dispute negotiating experience has a proven strategy which provides claims and defences for business bank customers. IBAS has excellent banking investigation reputation and has featured on BBC TV, BBC TV News, ITV, Meridian and Sky News and contributed to editorials and articles for the Sunday Times, Times, Daily Mail, Daily Express and Daily Mirror.
The following statement is posted online by one of our members: “I know that IBAS provided me with the necessary tools to defend against Barclays successfully.” - DeeJay “I want to give hope to others that may be going through what Barclays Bank put me through for over 4 years (2005-2009) - now I have no fear of them - what was at risk to me was a great deal – my home and my career ( I am in financial services and any judgement against me would have ended my 30 year career within the financial services industry).
The bank would have taken it all, despite them knowing they had a flawed claim. I joined IBAS (Independent Banking Advisory Service) as soon as Barclays sent me their opening gambit letter. This was the only fee I had to pay throughout my fight against Barclays.” - DeeJay
"I understand that so many cases are lost before they start because under threats from the bank the customer provides an offer of payment - without understanding there may be a defence to the bank's claim. Having been induced to make that offer, the bank then goes for the jugular. Apparently I am one of a very small band of successful litigants, which I wouldn’t have been without IBAS behind me." and
"The fact that IBAS have the knowledge and provide assistance in formulating the strategy, which was provided to me under membership and which provided the necessary case law ammunition and support (letters continually making the correct points) to prevent the bank gaining the upper hand (preventing me making offers which I wanted to make, just to get this case against me closed, and which would have destroyed any defence) - that strength of position then also enabled me to 'face off' the bank's threat (although the bank/solicitors knew their claim was flawed) and this strength of resistance then forced them to discontinue their action - this is all a matter of fact and something which IBAS should be very pleased about." Source
Those comments illustrate how dangerous Director's Personal Guarantees may be for those who have signed them.
IBAS has been featured on BBC TV, BBC TV News, ITV, Meridian and Sky News and contributed to many editorials and articles including those for the Sunday Times, Times, Daily Mail, Daily Express, Telegraph and Daily Mirror.
see: IBAS Testimonials
see Business: Your Money Not a moving account - BBC 22/07/99
Last modified: 11th September 2019