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What is a personal guarantee?

What is a Personal Guarantee?

 

 

What is a personal guarantee? | TNG Legal | Attorney Tonya N. Gibbs | http://tnglegal.com/ | (540) 632-1864 | general@tnglegal.com

Video Transcript

A personal guarantee is something that a creditor might require for an individual that is an owner of a business to sign in order to guarantee payment of a business debts. For example, a business credit card might require a personal guarantee, which would require the individual that owns the business to state that they are guaranteeing payments on that obligation and that they will pay if the business cannot.

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