Asset leasing personal guarantees can be complex to say the least. Quite often it is confusing as to what kind of personal guarantee document you have signed because some are far more onerous in nature than others and it is important to clarify this to best protect your position.
It is also important to understand that leasing companies have limited internal debt collection resources and tend to refer out to solicitors at a very early stage, which obviously escalates the matter (and the inherent cost involved). It is well worthwhile contacting us to discuss the options. For example, pre-December 2008 asset lease, hire purchase and/or finance lease agreements have particular issues that make enforcement difficult. (see above).
Time is of the essence if you want to mitigate your costs – get in contact now so we can help clarify your situation to best protect your position.