2 min read
The usual escalation
A missed payment moves the account into arrears, then default if it continues. The lender adds default charges, records it on the company’s credit file, and can demand the balance and pursue recovery against the company.
Where the director stands
Without a personal guarantee, the lender pursues the company, not your personal assets. The best move is to talk early — a lender would usually rather agree a plan than enforce. See what to do if you cannot pay.
What it means for you
Credicorp lends to your company, not to you personally, and takes no personal guarantee. See business loans or apply online.
Frequently asked questions
Will I lose my home if my company defaults?
Not without a personal guarantee. An unsecured company loan is the company’s liability, so your personal assets are outside the lender’s reach.
Can I fix a default?
Talk to the lender early. Many will agree a revised plan rather than escalate. A recorded default can be marked satisfied once cleared, though it stays visible for a time.
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Read →Funding for UK limited companies
Credicorp lends to your company, not to you personally — short-term working capital with no personal guarantee. See what your business could access.