Tuesday, January 12th, 2010

Are company credit cards likely to covered by a personal guarantee that I signed for an overdraught facility?

Credit Facility
OrchardM asked:


I signed a debenture and personal guarantee in favour of the bank when I took out an overdraught for my business. Since then I have also taken out credit cards with the same bank. I can’t find my copy of the agreement at the moment. Is it likely that the cards are also covered by the same guarantee?

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This entry was posted on Tuesday, January 12th, 2010 at 12:00 am and is filed under Credit Problems. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “Are company credit cards likely to covered by a personal guarantee that I signed for an overdraught facility?”

Jon S Says:
January 14th, 2010 at 4:12 pm

Almost certainly.

wolsy Says:
January 16th, 2010 at 2:29 am

This depends on the actual paperwork you signed, and it is something you should speak to personal advisor at the bank about, don’t go through the call centre, for most banks they are worse than useless. Banks are very good at this, and I’m sorry but I’d guess that you were.

lasvegasrealtor11 Says:
January 17th, 2010 at 8:50 pm

- worked very well for me and showed me how to establish business credit without using personal credit

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