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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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My husbands business has just went bust he has a personal guarantee

Resolved Question:

My husbands business has just went bust he has a personal guarantee of £150,000 he says they can not touch the matrimonial home we were married after buying the house he owns it solely I am not on mortgage or title please help .
Regards Karen
Submitted: 3 years ago.
Category: Law
Expert:  Ash replied 3 years ago.

Alex Watts :

Hello my name is XXXXX XXXXX I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply as this is not an ‘on demand’ live service, but rest assured I will be giving your question my immediate attention upon return. There is no need to wait here, you will get an email when I reply.

Alex Watts :

Its bad news I am afraid. With a personal guarantee they can charge any assets that he owns.

Alex Watts :

As for the property, they can charge his share of the property and potentially seek an order for sale.

Alex Watts :

So they CAN charge his share of the family asset

Alex Watts :

I am sorry if this is not the answer you want and certainly not the one I want to give you, but I have a duty to be honest

Alex Watts :

Can I clarify anything for you about this today please?

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