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Personal Guarantees In The Construction Industry

In the construction industry, personal guarantees are popular, and can provide an additional option for recovering money due. Generally, a personal guarantee is most likely to be utilized as payment protection when dealing with a new, or small, business, and when dealing with relatively limited credit amounts. This is because a personal guarantee is just […]

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Credit Application Series: Personal Guarantee

A quick google search is all anyone needs to see that personal guarantee is a very popular, and feared, topic. Most advice articles say that business persons should not sign personal guarantees. The purpose of this post is not to debate the merits of whether or not one should sign a personal guarantee, but to […]

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Mechanics Lien Rights Are Better Than A Personal Guaranty

Lien Law Questions and Answers

Since mechanics lien laws and credit policies go hand-in-hand, we’ve had the opportunity in the past to write about different credit protection mechanisms like joint check agreements, credit insurance and personal guarantees. Which remedy is the best?  Of course, each situation is different and calls for different credit protections, but we are obviously fans of […]

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Is A Personal Guarantee Enough To Protect Your Company?

This morning I came across a question on the Credit Management Association’s LinkedIn Group: You have a Personal guarantee from the owner, but are you really safe and believe you are now guaranteed payment if the company fails? Numerous CM’s believe that simply having a PG will guarantee payment. The fact is, it may not. What […]

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