In most states a personal guarantee is deemed a written contract under their statutes and case law. As such, the statute of limitations for breach of a written contract varies state by state, but typically it is a four (4) year statute of limitations.Meaning, the time to bring a lawsuit for breach of a written contract (personal guarantee) is usually four (4) years where the time running from the breach of the contract (failure to make payments) to file a lawsuit begins running from the date the last payment was due. I recommend that you consult with a business attorney furth concerning your question.