Barclays –how they operate calling in personal guarantees 2.

As noted previously, Barclay’s tends to go legal a bit quicker than perhaps necessary, so good communication with them is essential.

 

As bank solicitors are known to be working under some sort of ‘fixed fee contract’, it is highly advantageous for those on the receiving end to employ a solicitor who knows exactly what they are doing. This quick off the mark attitude to appointing solicitors is almost always to Barclay’s detriment, as bank lawyers tend to treat the process as a bit more as if it were a numbers game. Inexperienced, junior solicitors are often used to do much of the work; and hence, often get it wrong.

 

The key is ensuring that your solicitor knows exactly what they are doing, but unfortunately most solicitors are known not to do well in defending personal guarantee cases. In fairness to them, they don’t understand the nuances because they do not have the experience.

 

However, as with all banks, a deal is always on the table; the question is, is the personal guarantee enforceable anyway, and so is the deal is worth doing?

 

For more information, have a look at our website at www.personal-guarantee.co.uk