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I provided a personal guarantee in respect of the lease of a limited liability company. The limited comnpany went into liquidation. The court ruled that under my personal guarantee I had to pay for the remaining 6 year term of the lease. I have paid monthly for 2 years. Is there any way, other then by agreement with the landlord or bankruptcy, that I can obtain a release from this crippling debt.
Optional Information: Province/Country relating to question : England Already Tried: disputing the liability in the County Court
Hi,Thank you for your question.Unless you can prove that the guarantee is defective there is not very much you can do.I would just appeal to the landlord and offer him one lump sum to escape the guarantee. Tell the landlord that if he does not agree you will have to consider bankruptcy and he will get nothing.Has the landlord now re let the property concerned?Kind regardsAJ