Personal Guarantees with PLS Solicitors
PLS Solicitors specialise in Personal Guarantees or PG’s. Personal guarantees (“PG’s”) are common place and in essence are agreements whereby one party promises to honour or guarantees, the obligations of another. Personal Guarantees can be found in agreements for bank loans, leases, trade supplies and credit, to name but a few. PG’s are frequently in relation to financial obligations but can also be in relation covenants in leases and other non-monitory obligations.
Careful thought should be given and proper advice obtained as to the potential consequences, before signing any Personal Guarantee. Problems arise when there is default and the party who has given the PG is called upon to discharge the obligations of the other party whether due to their default or otherwise. Default can potentially have far reaching consequences not only for those who have given Personal guarantees but also for their families and in serious cases can result in properties being sold and even bankruptcy.
PLS Solicitors specialise in investigating and advising on the complex area of commercial litigation, especially Personal Guarantess. We offer a friendly, efficient and effective legal advice on any area of commercial litigation.
- We explain the process in plain english, no legal jargon.
- We adopt an understanding and methodical approach when dealing with each individual case.
- Our office hours are 9am to 7pm Monday – Friday and 9am to 4.30pm Saturday and Sunday
- We have a team of 100+ staff based in the UK
- All work is carried out in-house by a member of our team.
- We are fast. Because of our speed, we work as a nominated solicitor for many of the UK's largest developers.
Get a Free Quote
For a Free quote without obligation, get in touch below...