No PG? Can defaulting borrowers be chased by lenders?

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December 02, 2024

by a professional from University of Southern California - Marshall School of Business in North Palm Beach, FL, USA

Has anybody wondered whether lenders can come after defaulting borrowers who don't provide a personal guarantee?

BTW, I've seen it successfully done to some of the misdirected people graduating from the "buy businesses using no money," and other topics pitched by the charlatans preying upon naïve searchers.

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Reply by a lender
from University of Southern California in Los Angeles, CA, USA
Don’t understand the question. If a personal guarantee is not given then the corporate borrower is different from the person that owns the business. They can’t come after personal assets unless they can prove fraud.
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Reply by an admin
from Massachusetts Institute of Technology in Portland, OR, USA
^redacted‌ might be able to share their insights on how to handle Personal Guarantees.
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