As featured in the Autumn 2024 edition of Your Business magazine, my journey into debt recovery is not just a career—it’s personal. My name is Ron Mookerjee, founder of Talk to Ron, and I once found myself burdened with £195,000 of personal debt following my divorce.
Having worked in corporate debt recovery, I was familiar with how creditors pursue debts, but being on the receiving end was a life-altering experience. With no legal representation, I quickly learned how many business owners fall into the trap of signing personal guarantees on loans, unknowingly putting their homes and personal assets at risk.
The Danger of Personal Guarantees
Business owners often sign personal guarantees without fully understanding the consequences. If your business can’t repay its debt, you could be personally liable, endangering your financial security. Unfortunately, many only realise this when it’s too late. That’s where Talk to Ron comes in.
How I Can Help
At Talk to Ron, I use my expertise to:
- Negotiate debt relief: Whether reducing the total debt or extending payment terms.
- Protect personal assets: Helping business owners navigate and avoid the risks of personal guarantees.
- Offer empathy and professionalism: Having been through it myself, I truly understand the emotional and financial toll debt takes.
If you’re facing debt or want to protect yourself from financial pitfalls, read my feature in Your Business or contact me for expert advice.