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CalAttorney2, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 10244
Experience:  I am a civil litigation attorney representing individuals and businesses.
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Is a personal guaranty on a gh-interest corporate business

Customer Question

Good evening,
Is a personal guaranty on a high-interest corporate business loan subject to consumer protection laws? Is there a possible legal way of having such persona guaranty dropped by a high-risk lender on the theory that it is subject to consumer protection laws or on any other basis? Borrower is in Florida, but lender is in New York.
We would greatly appreciate your input.
Submitted: 1 year ago.
Category: Consumer Protection Law
Expert:  CalAttorney2 replied 1 year ago.

Dear Customer,

Thank you for using our forum today.

Personal guarantees on commercial loans are not covered by consumer protection laws - these are commercial loans and dealt with under commercial lending laws.

It is possible to terminate a personal guarantee in a bankruptcy, it is also possible to terminate such a personal guarantee if the loan if the lender fails to follow other banking laws (however, these laws do not provide a great deal of protection). If you are in Florida, Florida lending laws would apply.

Florida lending laws are summarized here:, but as you may find, the laws are generally tailored to protect consumer interests as opposed to commercial ones.

If in doubt, I would suggest speaking with a local attorney, they can always review your specific loan and guarantee, and provide you with a formal opinion and potentially alternatives or options for you that do not appear based on "general legal principles" that would allow you to terminate your liability.