Businessman, Don't Originally Sign a Personal Guarantee, Know the Following Facts

# Businessman, Don't Originally Sign a Personal Guarantee, Know the Following Facts  Personal Guarantee or better known as personal guarantee is actually the same as underwriting or underwriting agreement. - According to Prof. Dr. Mrs. Sri Soedewi Masjchoen Sofwan, S.H., explained that in terms of its nature the guarantee of coverage is classified as an individual guarantee, namely the existence of a third party person (legal entity) that guarantees fulfillment when the debtor defaults. On such individual guarantees, fulfillment of achievements can only be maintained against certain people, namely the debtor or the guarantor. Usually, when earning abundant profits, entrepreneurs commonly use it to invest in property or stocks, both on their personal or wife's behalf. - However, be careful. Doing business is not always 'sweet'. There is a moment the company needs large capital that requires employers to apply for credit at the bank. # The bank requests a guarantee Launching the Infonitas page, this is a crucial moment. Because, banks must ask for collateral. The form of underwriting is broadly divided into three, personal or personal guarantees (PG), corporate guarantees, and bank guarantees. If employers choose to sign PG, famous lawyer Hotman Paris Hutapea said be careful. All your assets that have been obtained either on your personal or wife's behalf can become bankrupt if the debt is not paid. "So, the personal guarantee is very dangerous because all your personal assets can be affected even though the debt is the company. Salam Hotman Paris, "he said, quoted from @hotmanparisofficial. # What is a Personal Guarantee?  collateral or collateral is the borrower's promised assets to the lender if the borrower cannot return the loan. If the borrower fails to pay, the lender can have the collateral. In credit rating, collateral is often an important factor to increase the credit value of individuals or companies. Even in the mortgage loan agreement, collateral is the only factor assessed in determining the size of the loan. Personal Guarantee / Borgtocht is a guarantee of repayment provided by an individual. For example, if you give a personal guarantee to credit, then you guarantee (responsible) to pay off the credit. When you apply for credit to a bank, they will definitely ask for an individual guarantee as a guarantor. Even if you have guaranteed the object at the beginning when submitting credit. That is called a third party guarantee or Borgtogh.  This refers to the Civil Code (KUHPerdata) known as underwriting. Regarding the definition of underwriting itself can be seen in Article 1820 of the Civil Code, which reads as follows: "Underwriting is an agreement whereby a third party in the interest of a creditor, binds itself to fulfill the debtor's agreement, if the debtor does not fulfill the agreement." What can be seen from this is the function of individual guarantees where creditors can request repayment of debts to the debtor or the guarantor. This is done if the object used as collateral is not enough to pay off the debt. As described above that element of Article 1820 of the Civil Code. What needs to be considered are the following: ~~~ Underwriting is an agreement; Borg is a third party; Underwriting is given in the interest of the creditor; Borg binds itself to fulfill the debtor's agreement, if the debtor defaults; ~~~ # There is a conditional agreement. So in the event that the person is a third party as a giver of guarantee or Borgtogh, then the object belonging to a third party that is used as collateral for the debt can be executed if the debtor defaults