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What's the difference between "personally guaranteeing" a loan and being "personally liable" for a loan? To me they mean the exact same thing: if Better.com (th
by PolygonSheep 4y ago
What's the difference between "personally guaranteeing" a loan and being "personally liable" for a loan? To me they mean the exact same thing: if Better.com (the company) can't pay off the loan then Mr. Garg (the individual) is responsible for coming up with the money.
- vmception 4y agoThe difference is that the liable is primarily used in the context of “not initially accepting responsibility for an action, but being forced to” Whereas “personally guarantees” is used in the context of “I meant to do this to provide confidence”