Creating a Credit Application

Personal Guarantees

Personal guarantees are considered a staple of any good credit application. If the client cannot pay their bills through their company, a personal guarantee binds the owner to pay you, even though their business is broke. A personal guarantee is one extra layer of protection in the event that you have to go to collections.

According to the National Association of Credit Managers (NACM), securing a personal guarantee when lending credit is essential to ensuring you get paid. Anyone who is not willing to provide you with one is not a person you should lend credit to. They are considered high risk.

In the event that the account goes to collections, you will need a competent commercial collection agency on your side. Commercial Receivers Incorporated is the lowest cost commercial collection agency you will find. We provide you with standard rates as low as 12% and an introductory rate of 10%. We believe that it’s your money, you deserve as much of it back as you can get! Contact Commercial Receivers Incorporated to get back more of what is owed to you.

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.

Share This