Latest from the Blog

Anti Money laundering reports

Special offer to supply Anti Money Laundering reports at a discounted rate.    Purchase 25...

01 July 2014

Latest from Twitter


Directors guarantees

Often banks or trade creditors call on directors to give their personal guarantee if the limited company is small in size or has limited assets or it has only recently commenced trading and has limited trading experience.


In essence where the loan or requested credit cannot be supported by the assets of the limited company directors will be asked to provide guarantees in the event that the limited company fail to pay. In many cases when the limited company appears to have sufficient assets to support the loan or credit account it is the policy of most banks to take directors guarantees.


What this means for a director who is personally guaranteeing the debts of the limited company is that if the company fails to pay its debts the guarantor, that is the director, can only be sued if the company cannot pay its debts.


To obtain a personal guarantee from a director of a limited company will require the director to sign a legal document. It is imperative that the document signed has been drawn up by a solicitor ensuring that the correct wording is used within the guarantee.


Equally as important is to run a credit check on the director personally by way of a consumer search, you will require the residential address of the director to carry out the consumer search.We would also recommend establishing what personal assets the director has such as property, this can be established by carrying out land registry searches. A directors guarantee is worthless if the director who has provided the guarantee has no assets.


Creditserve are able to offer advice and services in relation to directors personal guarantees,Consumer Credit Reports and UK & Irish Company Credit Reports


For general information regarding our services please visit our website or you can go straight to our On-line Shop

 Alternatively you can call our offices and speak to Chris York or Laura Ferrie on 01992 414222. 


Google Author: "By Chris York"


Request a callback or visit our online shop Creditserve Contact Icon Creditserve Online Shop Icon
WorldPay Payments Processing

Creditserve Business Information Ltd is registered by the Financial Conduct Authority under registration number 626460.
Authorisation can be checked on the consumer credit register at