By the way, Ltd is not truly limited liability. If you sign a personal guarantee for debts of your Ltd, creditors can still chase you for unpaid debts of your Ltd, that is what I understood. Maybe, I am wrong??
Correct, if you sign a personal guarantee then this falls back on the person who signed it removing the safeguard of a Ltd company, having the personal guarantee insurance protects you 👍. This would cover 90% of the debt max, but that is still better than nothing 🤣
How much does it cost for a personal guarantee insurance policy? In terms of % of the amount of debt as a ball park figure is helpful. Thanks, in advance.
If you click the link in the comments, this will give you a rough idea. It depends on circumstances, but is penny’s when compared to the amount of protection this offers 👍
Thanks. Very informative.
Glad you enjoyed 😁
By the way, Ltd is not truly limited liability. If you sign a personal guarantee for debts of your Ltd, creditors can still chase you for unpaid debts of your Ltd, that is what I understood. Maybe, I am wrong??
Correct, if you sign a personal guarantee then this falls back on the person who signed it removing the safeguard of a Ltd company, having the personal guarantee insurance protects you 👍. This would cover 90% of the debt max, but that is still better than nothing 🤣
How much does it cost for a personal guarantee insurance policy?
In terms of % of the amount of debt as a ball park figure is helpful.
Thanks, in advance.
If you click the link in the comments, this will give you a rough idea. It depends on circumstances, but is penny’s when compared to the amount of protection this offers 👍