Personal Guarantees


For Guarantors:

A guarantee is potentially the most onerous contract you will ever sign. A guarantor takes on liabilities for large sums of money and often receives nothing in return. Many guarantors think that their exposure is somehow limited or that “nothing will go wrong.” Many things can go wrong. O’Shea Lawyers is experienced at explaining in plain English what exactly are your rights, risks and obligations when you sign a guarantee. We can provide informed and independent legal advice on guarantees.

For Lenders and Creditors:

As a lender and creditor you need security for payment. Sometimes a personal guarantee is the best way to achieve this but, unless the guarantee document is properly drafted and executed with the guarantor independently advised, it may not be enforceable. You need your guarantees guaranteed. O’Shea Lawyers is aware of all the pitfalls that can arise with guarantees and the ways to avoid them so that all parties are treated fairly and you, as a creditor, can have security.

When things go wrong:

Sometimes, debts are not paid and the law of guarantees becomes very important. O’Shea Lawyers has acted in some of Queensland’s leading guarantee cases. We fight for just outcomes in guarantee disputes. We can advise you clearly, and early, so as to reduce costs, as to whether there is a good case. We are familiar with the Courts and with alternative dispute resolution methods to avoid costly litigation. We have acted for both creditors trying to enforce guarantees and for guarantors seeking to avoid them. You need lawyers who know both sides of the argument.