Does a personal guarantee have to be in writing in North Carolina?

Yes. North Carolina requires a promise to pay another person's debt to be in a writing signed by the guarantor.

Can a guarantor cancel a personal guarantee?

A continuing guarantee can usually be revoked for future credit by written notice to the creditor, but the guarantor stays liable for debts incurred before the notice. The Standard guarantee includes this revocation right.

What is the difference between the Standard and Professional Personal Guarantee?

The Standard edition is a complete, state-aware Personal Guarantee for common situations. The Professional edition adds longer clause coverage, schedules, and optional modules for more complex matters. You can preview either edition free before you pay.

North Carolina · Standard edition

North Carolina Personal Guarantee Template

Create a North Carolina personal guarantee online for a business loan, supply account, or lease. The Standard guarantee is a capped guarantee of payment covering demand, consent to changes, reinstatement, subrogation, waivers, guarantor statements, continuing guarantee and revocation, enforcement costs, and North Carolina guaranty law.

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North Carolina rules built into this template

North Carolina law: North Carolina requires a promise to answer for the debt of another to be in a signed writing (N.C. Gen. Stat. § 22-1). Attorneys' fees are limited to 15% of the outstanding balance and are recoverable only after written notice giving five (5) days to pay (N.C. Gen. Stat. § 6-21.2).
Spouse signature: under federal Regulation B, a creditor generally may not require the signature of a guarantor's spouse merely because the guarantor is married (12 C.F.R. § 1002.7(d)).
Cap: the Standard guarantee limits the guarantor's liability to a maximum amount, plus interest after demand and enforcement costs the law allows.

What the Personal Guarantee includes

Guarantee
Maximum Liability
Demand and Payment
Guarantor's Consent to Changes
Reinstatement
Subrogation
Waivers
Guarantor's Statements
Financial Information
Continuing Guarantee and Revocation
Costs of Enforcement
Assignment
State Law
General Provisions
Governing Law

Frequently asked questions

Does a personal guarantee have to be in writing in North Carolina?: Yes. North Carolina requires a promise to pay another person's debt to be in a writing signed by the guarantor.
Can a guarantor cancel a personal guarantee?: A continuing guarantee can usually be revoked for future credit by written notice to the creditor, but the guarantor stays liable for debts incurred before the notice. The Standard guarantee includes this revocation right.
What is the difference between the Standard and Professional Personal Guarantee?: The Standard edition is a complete, state-aware Personal Guarantee for common situations. The Professional edition adds longer clause coverage, schedules, and optional modules for more complex matters. You can preview either edition free before you pay.

Personal Guarantee templates for other states

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