“Gauging The Personal Guaranty For Your Borrower’s Loan”On November 10, 2011 by Schnader
On November 10, 2011, Law360 published “Gauging The Personal Guaranty For Your Borrower’s Loan,” by Han Nguyen. When a guaranty is the last and only source of meaningful recovery, lenders may find that enforcing the guaranty is more difficult than originally thought and may not yield as much recovery as the lender had hoped. While there is no specific language that will make a personal guaranty foolproof, all lenders should keep certain things in mind. This article covers what lenders should consider ahead of time when crafting a personal guaranty and things to consider when collecting on one.