How do Personal Guarantees impact the ability to get a settlement?
It is common for small business owners to sign personal guarantees for vendors, leases, secured and unsecured loans, lines of credit, and inventory. Some business owners may be personally liable for the debt—even when a business has closed. Emerge180 understands the need to protect the personal assets of our clients. In negotiations involving a personal guarantee, we include language to prevents a creditor from pursuing personal assets after a settlement has been reached.
