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Can you place a lien against a home owned by a debtor to secure a personal guarantee on a business loan that was given in writing but does not mention any security?
Wiki User
∙ 15y ago
You could petition the appropriate court for a judgment against that person. If you are successful the court will issue a order that can be recorded against the real estate in the land records. Your lien would take its place behind any other outstanding liens that have already been recorded against that person.
Wiki User
∙ 15y ago
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How can a person get loans for their small business even if they have bad personal credit?
To enable a person with bad credit to obtain a small business loan they will likely need a guarantor to provide a guarantee or provide proof of substantial financial holdings to mortgage the loan against.
A way to protect the personal assets of an investor against losing everything if a business fails?
LIMITED LIABILITY
If you default on personal credit can a lien go against a business checking account?
Depends on how your business is set up - sole proprietor, corporation, limited partnership, etc.
In the State of Illinois how long does a bank have to make a claim against the estate of a deceased person with respect to a personal guarantee on a commercial loan?
According to the information at the link below- two years.
What form must a personal guarantee take does it have to be in written form or will a promise made orally suffice?
A " P G " must be in written form... and notorized in order for it to be valid for a debtor to collect against...
Can a director give a personal guarantee for a loan?
He can but should not. A personal guarantee defeats any corporate shield against seizure of personal assets.
What is the difference between security deposit and performance guarantee?
Security Deposit is the amount kept by the customer towards the guarantee against completion of a contract.;where as performance guarantee is the guarantee given by the contractor towards performance quality of the executed job/supplied product.Thus requirement of security deposit ends with complete execution of the contract whereas Performance guarantee holds till the period of warranty/defectliabilityis over.
Can you get a credit check without a social security number?
If you are a corporation, you can apply for a merchant account without a social. The problem with doing this is that there is no guarantee that you will be accepted. Your merchant account provider will need copies of your financial statements dating back 2 years and other information. Seems like a lot of work for 9 digits. The reason a social is the standard when opening a merchant account is because your merchant account is essentially a bank account. You need your social when you open a business bank account to protect the bank against fraud. It works the same with merchant accounts.
How can a person get loans for their small business even if they have bad personal credit?
To enable a person with bad credit to obtain a small business loan they will likely need a guarantor to provide a guarantee or provide proof of substantial financial holdings to mortgage the loan against.
What is whole turnover guarantee?
A whole turnover guarantee is an insurance policy that protects the complete sales ledger of a business. It protects against non-payment through default.
What protection do I have against property damage?
The Airbnb Host Guarantee provides protection for up to $1,000,000 to a host for damages to covered property in the rare event of guest damages above the security deposit or if no security deposit is in place.The Host Guarantee program doesn't cover cash and securities, collectibles, rare artwork, jewelry, pets or personal liability. We recommend that hosts secure or remove valuables when renting their place. The program also doesn't cover loss or damage to property due to wear and tear.Learn more about the Host Guarantee at http://airbnb.com/guarantee
Caveat over a building property?
This is a form of security lodging against the property. It means that the person issuing the caveat has "say or control" upon sale of this property. Generally used when a personal guarantee is issued, and you want your money paid to you. However you cannot force the sale of the property, but you can be fully involved in the final sale and have rights to your money when the property is sold.It is an excellent tool to use when you have personal guarantee. The Banks will have priority to you, but you will be next in line.
How do you buy a Social Security number?
You don't buy a social security number. You go to your local social security office and apply to receive your own personal social security number.Buying a social security number is against the law.
What is the work of insurance agents and brokers?
Although their primary function is to sell policies offering financial protection against loss, agents and brokers may also help their clients plan for personal, family, or business financial security.
What is an abstract noun of security?
The noun security is an abstract noun, a word for freedom from risk or danger; freedom from doubt, anxiety, or fear; a system of protecting against risk or danger; something deposited or pledged as a guarantee of the fulfillment of a loan.The noun security is a word for a concept.
What protection do your business partners have if you have a judgment placed against you?
Obviously it is not related to the business and therefore as a personal affair, it would have no effect upon a jointly owned business. Creditors generally cannot take action against jointly owned business when there is a sole debtor.
Can you press criminal charges against the majority owner in an S-corporation for taking money from the business bank account for personal use?
Yes, the business activities must remain separate from personal activities.
