Personal Guarantees - Should You Sign One? Part 1

What is a personal guarantee, and should you sign one to help a family member or a friend? Would your personal assets be at risk if you become a guarantor? Could you limit the value of your assets that would be at risk if the debt was not repaid by the borrower that you helped out, and if the guarantee got called in? How can you challenge a personal guarantee that you have signed, if you wanted to put an end to your responsibility as a guarantor? Becoming a guarantor is a very serious conside...