Remove Phone Field from the Personal/Corporate Guarantee and eSign it in minutes

Aug 6th, 2022
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How to Remove Phone Field from the Personal/Corporate Guarantee

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hello in this video im going to show you how to remove the phone number from the contact form in shopify so first well log into shopify account then go to online store then look for your current theme in my case debut and click on actions edit code then in the search type the following contact and in the templates folder look for page.contact.liquid file and then open it scroll all the way at the bottom and look for the line 15 51 at least thats in my case look for this code what you want to do is comment it out and to do so we have to place a cursor above in free space like on line 49 and press left curly bracket percent sign and type comment and copy the whole part and paste it underneath another empty space in my case line 52 and add and so comment and comment and this part is come trout and as such the phone number will not be visible so lets take a look lets save it now lets refresh the contact form and as you can see the phone number is no longer visible and that this proce

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If you fail to make your payments or you default on the loan, the lender doesnt have to absorb the remaining balance of the loan if youve signed a personal guarantee. Instead, the lender can go after the borrowers personal assets.
Unless a business is a sole proprietorship, personal guarantees can only be discharged by filing an individual bankruptcy. A business bankruptcy will not eliminate a personal guarantee. Likewise, the Chapter 13 co-debtor stay only applies to consumer debts and personal guarantees are usually considered business debts.
A personal guarantee can be enforced the same way as any debt. If the business owner does not pay, the creditor can bring a lawsuit to receive a judgment and levy the owners personal assets to cover the debt. The exact terms of a personal guarantee specify a creditors options under the guarantee.
When someone personally guarantees a loan and the loan goes into default, the lender can sue them and hold them personally liable for any unpaid loan balance remaining after any specific collateral securing the loan is foreclosed and sold.
Personal guarantees dont have a direct impact on your personal or business credit history, or credit score unless you run into trouble. They dont typically show up on credit reports, Luebbers says. But, a personal guarantee could affect your credit if you have late payments or default on the loan.
A personal guarantee is a provision a lender puts in a business loan agreement that requires owners to be personally responsible for their companys debt in case of default. Lenders often ask for personal guarantees because they have concerns over the credit history, age or financial stability of your business.
How to Limit a Personal Guarantee Refuse to sign or simply cross out the guarantee language. Define when the personal guarantee would go into effect. Decrease personal guarantee with improved business performance or passage of time. Limit a guarantee. Revoke old guarantees. Suggest terms of relief.
The first thing to do is to speak to your bank about getting released from the personal guarantee. They are very likely to simply say no, so you will need a great argument to convince your bank that the loss of a personal guarantee does not increase the risk of non-payment of your business loan.
The main disadvantage of a personal guarantee is also very simple. If your business becomes unable to pay its debt, you become personally liable for it . That means your companys creditor can pursue you personally and that puts your personal assets (including your home) at risk.
This can be a good thing if payments are made timely and as agreed, as you could get a bump on that for your own credit score. In the meantime, however, it does potentially impact your credit utilization ratio and your debt-to-income ratio.

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