Review Of Can A Personal Guarantee Go After Home Nj References. A personal guarantee is an agreement regarding debts owed. A personal guarantee helps business owners get approved for a loan if the business doesn't have its own credit rating.

An individual’s legal promise to repay charges to a business credit card. To make the guarantee, you promise to pay for business. Signing a personal guarantee as part of a business loan agreement makes you personally liable for the debt if the business defaults on the loan.