Are You Jeopardizing the Collectibility of Your Accounts With a Stale Guaranty?

By Johnny White, Esq. - Not much needs to be said about the benefits of a personal guaranty to a credit or AR manager. For all the U.S. bankruptcy system has to recommend it, it is brutally unfair to unsecured creditors most of the time, and bankruptcy often carries with it no adverse consequences for the businessman who recklessly, or even fraudulently, trades a company into in- solvency.A valid personal guaranty is a crucial piece of leverage when an account is past due, but only if it is…