Banking royal commission: How do you protect parents who are going guarantor without killing small business? – ABC News

Banking royal commission: How do you protect parents who are going guarantor without killing small business?

The short answer is that you ensure that the parents get proper independent legal advice before they go guarantor. We routinely give this advice to parents considering giving a guarantee for their children’s home or business loan and ensure that they do so with open eyes and a clear understanding of the risks involved.

While your bank may not *require* you to get independent advice, we can do so whether it’s required or not. For peace of mind, feel free to call us on 08 8278 1779

We now have a set of FAQ’s on our website here: https://www.kruselegal.com.au/certificates/solicitor-guarantee-certificate/#FAQ

Source: Banking royal commission: How do you protect parents who are going guarantor without killing small business? – ABC News (Australian Broadcasting Corporation)