Personal Guarantees
23rd June 2011
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General Comments


Are you even getting a salary from your business?

Are you in fact propping your business up by doing any of the following?:- * borrowing against your house * depleting your personal savings * using your spouses income or income from elsewhere * loading up personal credit cards * taking out personal loans. As a one off considered decision as part of a plan of action, then fine, but is it happening monthly or even weekly? Then you need to ask this question -

When will it stop?
If this is what you are doing, it is probably because your business is losing money, and three things will inevitably happen.

1. You will turn around the business so it starts paying you.

2. The business will fail, taking down all the money you put into it and possibly you.

3. You run out of personal funds, taking both you and your business down

About the Author

Stefan W

Member since: 16th September 2011

My name is Stefan Wilkinson and I deal with the mis-selling of financial products
Mis–selling is more widespread than you might have realised
I believe mis – selling is wrong and needs highlighting...

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