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Max Lowry
Max Lowry, Advocate
Category: Property Law
Satisfied Customers: 1457
Experience:  LLB, 10 years post qualification experience
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Hi; just over three years ago I entered into a tenancy agreement

Customer Question

Hi; just over three years ago I entered into a tenancy agreement as a guarantor, for my nephew. this was as company named Weyly & co Ltd. I was the only silent partner/Director. Last November I was forced to dissolve this company. It was unable to keep up with the rent also having other debts. A new company has been set up and has taken over the tenancy. I have been told that I am still able to be the guarantor although not a Director. The new company is still struggling to pay the rent and is now in debt of some £11000. (the rent (£2000 p/mth) has been, although agreed in the first instance, found to be extortionate for the current public house environment. I have become very ill and unable to complete my responsibilities. I need to be let out of the guarantor responsibilities. Is this possible?
Submitted: 5 years ago.
Category: Property Law
Expert:  Max Lowry replied 5 years ago.

Max Lowry :

Hi welcome to Just Answer. I will help you with your question.

Max Lowry :

Can you clarify please: who gave the guarantee and who has the benefit of the guarantee?

Max Lowry :

Are you there?