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Personal Guarantees in Commercial Collection: How Helpful Are They?

The McHughes Law Firm

It is a prudent credit manager that attempts to obtain personal guarantees from the principals of an incorporated entity to which credit is being extended. In conjunction with the execution of a personal guarantee, the well-informed credit manager will also attempt to obtain a personal financial statement from the guarantor.

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How to Collect Debts Fast and Improve your Accounts Receivable

Debt Recoveries

Every invoice and statement that you send out to a client or debtor should contain the exact and up-to-date information about how much they owe you, when that amount is due, and when it will be considered late. Knowledge is power, and the more you know about your debtors/customers, the more power you have. Keep Good Records.