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Personal Guarantee

Bev74 · 2019-07-27 18:25:24

Hi, hoping for some advice please. A few years ago I invested in a friends retail business, they created and signed a personal guarantee to assure me that should the business go bust that within 6 months they would reinburse my investment. The lady who I invested in was a friend, so when she had no choice but to liquidate…

Comments

jonesMUFCforever Posts: 28,898 Forumite

28 July 2019 at 5:43PM

A personal guarantee without security to back it up is a waste of time.
I would check that the letter you received is from a kosher solicitor - if it is then I suspect your money is lost.
Unless she has property to charge you can forget a court case because even if you win you will probably lose because of the costs.

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