Extracting yourself from a Personal Guarantee
You may have signed a personal guarantee but you wish to extract yourself from it. Perhaps you are no longer involved in the business or you have concerns surrounding the business or personal guarantee itself.
Most guarantors caught in this trap don’t know how or think they can not extract themselves.
However all personal guarantees can be terminated including allegedly continuing ones but there are consequences and risks to understand and the way a personal guarantee termination is executed can make all the difference as to those risks.
If you find yourself in a position where you need to consider extracting yourself from a personal guarantee then contact us to discuss it.