Within the framework of the (personal) insolvency procedure each creditor category (insolvency creditors, creditors of the insolvency estate, creditors with the right of separation, and secured creditors), which may appear during the procedure, appears for the same reason – in order to protect the right to realise its claims. Their standpoints and expectations do not necessarily have to diff er, but considering the diff erent positions and consequences that they might suff er during personal insolvency procedures this is highly possible. This paper tries to show and analyse the position of one of the parties to the procedure i.e. the position of the guarantor as an “ordinary” insolvency creditor in the personal insolvency procedure. For the purposes of research a methodological procedure that implies studying professional local publications, and accompanying legal regulations, as well as analysing court practice is applied. The judicature of the European Court of Human Rights in procedures pursuant to Article 1 of Protocol No. 1 shall be examined alongside the European Convention for the Protection of Human Rights and Fundamental Freedoms (so-called right to peaceful enjoyment of possessions) because we believe the fi ndings in this matter can be crucial for understanding the problematics of the paper.