Enforcement of a personal guarantee
Steps taken by a lender or creditor to recover money from a guarantor after the guaranteed obligation has become payable.
Related terms
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Personal guarantee claim
A creditor’s demand or legal claim against a guarantor for sums said to be due under a personal guarantee.
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Personal guarantee demand
A formal or informal demand requiring a guarantor to pay under a personal guarantee after the creditor says liability has arisen.
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Personal guarantee on a lease
A guarantee under which an individual agrees to meet a tenant company’s lease obligations if the company fails to do so.
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