Individual Tailored Solutions for Your Debt Problems

Industry Expert advice with complete understanding for home owners and companies

 

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Specialist Services

Negative Equity

We can provide positive options to individuals suffering at the hands of extensive property debt. We specialise in providing strategies to help people who wish to resolve their issues with property debt.

Corporate Debt

We have developed an excellent team who understand the circumstances borrowers find themselves in. We empathise with their situation, and together with our detailed knowledge of how each lender operates, the team can offer independent advice tailored to the client’s situation.

Dispute Resolution

On an on-going basis, we work alongside some of the most reputable, Legal firms who specialise in dispute litigation.
Where necessary, we shall work in conjunction with such third parties in order to address how a Borrower may have been wronged, in various contexts, and to ensure that they are compensated and awarded accordingly.

Pre & Post Insolvency Advice

Bankruptcy can be complicated if you are not aware of the process. Bankruptcy is feared by many and has negative connotations associated with it. Effectively, we advise, assist and hold the client’s hand throughout this process.

Struggling with Debt and Not Sure What to Do?

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Recent Articles

settlement

Settlement of £78,000 on a £1.2 million liability – Savings of £1,122,000

In November 2017 we helped a client out of a huge Crystallised Shortfall   A farming client previously held a large property portfolio which was sold, leaving a crystallised balance of £1,200,000.   The Bank was pursuing the balance and commenced legal proceedings to recover the amount.   On appointment, Bell & Company initiated meetings with the…
personal guarantee

Personal Guarantee exposure, 97 jobs saved and savings of £560,000

In October 2017, Bell & Company assisted a multi-site Northern Ireland business with Personal Guarantee exposure.   The clients instructed Bell & Company regarding their Personal Guarantee Exposure of £200,000 and potentiality loss of the company properties to a Fixed Charge Receiver.   The closure of the company would result in 97 employees losing their jobs…
property costs in the uk

Will property costs in the UK continue to rise?

Property costs in the UK For many of us, property prices are simply too high. A sizeable majority of us are priced out of living in our capital where, along with higher living costs, you’ll find the average house price to be a whopping £481,556. Perhaps soaring prices are to be expected in Britain’s capital,…

Frequently Asked Questions

I work 9-5, is there an availability to call after 5pm?

We understand that it can be difficult to speak about such sensitive matters during working hours. We can accommodate out of hours calls and/or meetings every Tuesday and Thursday until 8pm.

What documents are required to assist your review of my case?

Should your case fall within our corporate department, the following documentation would greatly assist our review:

  • Copy of original letter of offer from Lender
  • Most recent letter of offer from Lender
  • Most recent correspondence received from Lender confirming the current balance owing
  • Please confirm your primary point of contact at the Bank
  • With regards the security, please provide original planning permission to build up the land – if applicable
  • Please forward all correspondence pertaining any ongoing issues regarding the issues with security
  • Please provide contact details as to the Bank’s instructed Agent/solicitor
  • Please forward all correspondence to and from the Bank’s instructed Agent/solicitor
  • Please advise if any Receivers have been instructed and provide all correspondence to and from same
  • Please provide any written valuations obtained
  • Please complete and return statement of affairs which are in fact Bank, pro forma templates
  • Provide copy of any previous proposals submitted to Lender
  • Please provide copy of any previous sworn financials submitted to Lender

If you fall within our Resolution department all we require is you to complete our standard Statement of affairs to gain an insight into your situation

I cannot attend an interface meeting for my free consultation, what other methods are available?

We understand that due to logistics and busy work schedules it can be difficult to pin down a time to attend our offices for your free consultation. We do offer Skype and conference call as alternative methods for your free consultation. We can also attend your offices should you require same.

When can I have my free consultation?

In Most cases a free consultation will be offered only when we feel we have all sufficient information & documentation requested and conducted our review on same. This is for the sole purpose that we prefer know the background of your situation before we can provide you with options and advice. We conduct a thorough case review beforehand completely free of charge.

How can I get in contact with you?

We offer several methods of contact:

  • Office number 028 95 217373
  • Office email [email protected]
  • Via our website contact us page
  • Via live chat
  • Facebook
  • Twitter

How do you assess my case?

Each and every case is wholly unique therefore every case is assessed individually. A full comprehensive fact finding exercise shall be completed on the initial call and further assessment to be conducted through review of your documentation

What happens after my free consultation?

Each case is followed up with an email (or alternative contact method at your request) detailing out advises provided in the meeting and further detailing fees required.

How do your fees work?

Our fees work on a 2-fold basis:

  • Initial fee which is payable upon appointment
  • Success fee which is payable on date upon which agreed objectives have been met

What exactly is a Personal Guarantee?

In the majority of instances, where a Banking Institution agreed to lend money to a Limited Company, the Directors and/or others would have been required to sign a Personal Guarantee for the Limited Company loans before drawn down.

This essentially meant that, in the event that the primary Borrower, i.e. the Company, defaulted or became insolvent, the Banking Institution could call in the Personal Guarantee and pursue the Directors directly with a view to recovering what would otherwise be lost.

A Personal Guarantee is often for a specified amount which would have been based upon the Guarantor’s overall personal circumstances and net worth at the time of signing.

This signing of a Personal Guarantee does not assign automatic security to the Bank over the Guarantor(s)’ assets but rather gives the Bank the right to pursue same individual(s) by whatever means required, up to and including Bankruptcy.

On occasion, some Guarantor(s) would have offered specific properties as collateral in which case the Bank would have security and could seek to recover their debts via the sale of the subject properties.

The opportunity is very much there to seek to reach settlement in respect of a Personal Guarantee if your position is such that you cannot address same in full.

Can I contest a Personal Guarantee signed without legal advice?

One of the first things that we request from any potential Client, being pursued on the back of having signed a Personal Guarantee, is sight of the signed document.

This is imperative in order to ensure that matters were handled in the correct way.

We seek to identify then whether or not legal advice has been obtained or, at the very least, offered by the lending institution.

Very often, individuals will have signed Legal Waivers meaning that they were essentially waiving their right to legal advice. This causes difficulty somewhat in disputing a Personal Guarantee on the basis of no advice.

In the event however that there is a challenge in terms of the environment/way in which the Personal Guarantee was signed and, indeed, if there was no legal advice obtained or offered, we will challenge this head on.

One example of this would be where a Wife allegedly signed a Personal Guarantee under duress from her spouse and without separate, independent legal advice.

What happens if I signed a Personal Guarantee without consideration?

It is not a defence to pursuit for a Personal Guarantee to claim that you had not given it consideration.

Very often, those signing Personal Guarantees will be business men/women and so will be expected in a sense to have an understanding of the commitment being made.

If it is the case that you had no/incorrect advice however, this can be very different.

What exactly is a Personal Guarantee?

In the majority of instances, where a Banking Institution agreed to lend money to a Limited Company, the Directors and/or others would have been required to sign a Personal Guarantee for the Limited Company loans before drawn down.

This essentially meant that, in the event that the primary Borrower, i.e. the Company, defaulted or became insolvent, the Banking Institution could call in the Personal Guarantee and pursue the Directors directly with a view to recovering what would otherwise be lost.

A Personal Guarantee is often for a specified amount which would have been based upon the Guarantor’s overall personal circumstances and net worth at the time of signing.

This signing of a Personal Guarantee does not assign automatic security to the Bank over the Guarantor(s)’ assets but rather gives the Bank the right to pursue same individual(s) by whatever means required, up to and including Bankruptcy.

On occasion, some Guarantor(s) would have offered specific properties as collateral in which case the Bank would have security and could seek to recover their debts via the sale of the subject properties.

The opportunity is very much there to seek to reach settlement in respect of a Personal Guarantee if your position is such that you cannot address same in full.

What happens if I signed a Personal Guarantee without consideration?

It is not a defence to pursuit for a Personal Guarantee to claim that you had not given it consideration.

Very often, those signing Personal Guarantees will be business men/women and so will be expected in a sense to have an understanding of the commitment being made.

If it is the case that you had no/incorrect advice however, this can be very different.

Could I lose my home?

One thing we understand entirely is that home is sacrosanct to most people thus it is imperative that the situation in home is investigated first and foremost.

In many instances, a Borrower/Guarantor’s home will be mortgaged with another lending institution and, as a result of the property crash, there will very rarely be equity in home thus there is nothing there for lending institutions to pursue/Official Receiver to vest an interest in.

Each case is different however and a lot centres around mortgage balance, current market value and whether there is any equity within the property.

A lending institution only has the ability to initiate re-possession proceedings in respect of your home if it has been directly offered as security.

That being said, if you have signed a Personal Guarantee, your personal assets are exposed somewhat and any Creditor can seek to realise the equity in any assets pertaining to you by either seeking Judgment and enforcing same thereafter or, alternatively, petitioning for Bankruptcy, even if they have no security.

If there is equity in your home, this will have to be taken into account in any settlement proposal to ensure that same is protected.

This will often avoid aggressive action then by a Creditor however rights are reserved at all times.

Can I be made Bankrupt?

As referred to briefly above, a Lender reserves their rights to initial proceedings, up to and including Bankruptcy, if your debts are not acknowledged.

They typically only take such action where there is no communication/efforts made to address debts to the best of the Borrowers’ ability.

Even if these can cannot be paid in full, there is the option to negotiate with a view to settling and avoiding Bankruptcy.

Those who are pro-active achieve results however where matters are simply ignored, the threat of Bankruptcy very much looms.

On occasion, Bankruptcy may in fact be the best option for an individual in terms of protection.

Should this be the case, then we have specialised members of staff available to advise, guide and assist through this entire proceed.

What if I have a Personal Guarantee but no assets?

When considering your ability to address a Personal Guarantee, any lending institution shall request detailed, substantiated and supported proposals along with sworn statements demonstrating your overall, financial position.

They will consider any assets you do or do not have and shall request reporting on any property transactions that have occurred up to 5 years previous.

During their due diligence process, they may conduct property searches which will highlight any transactions in terms of sales, transfers etc. that have occurred.

If a person genuinely has no assets, then they may wish to seek to settle their Personal Guarantee to the best of their ability with funds provided by a third party in order to avoid litigation or Bankruptcy.

Again, this is a process in which we specialise and the availability of funds is paramount in order to engage.

Where there are no monies available to settle, an individual may, worst case scenario, be minded to seek advices in respect of Bankruptcy.

Will seeking to reach settlement with my lender impact on my credit rating?

In most instances, Commercial Loans/Facilities will not appear on an individual’s credit rating. For personal loans/borrowings this is very much assessed on a case-by-case basis.

One of the first things we will ask any Client to do is to download an up-to-date credit report which shall provide confirmation as to what is registered.

This means that reaching settlement with a Banking Institution in respect of commercial liabilities will not necessarily impact on your ability to start a fresh and engage with lending institutions in the future, so long as everything else is positive.

What Our Clients Say

I would like thank you for everything that you have accomplished for my wife and I over the last few months & your professional approach to this difficult situation- well done! We can now get our lives back on track & plan for the future.

H.H. LH

Co Down

We wanted to sell our home but like so many others it was in negative equity. We contacted Bell and Company, who offered clear, precise and professional advice. After our first meeting, we made the decision to appoint Bell and company to act on our behalf. They took control of the situation and went into negotiations with our mortgage lender, providing us with regular updates. They successfully negotiated with our mortgage company to release us with minimal repayments, enabling us to sell our home and move on with our future. We found Bell and Company straight talking, pro-active and professional and I would recommend anyone in our position to contact them.

R. McP

Birmingham

Thanks a million James, hopefully I won’t ever need your help again but if I ever do, I will not hesitate to contact you or recommend you to anybody else in trouble.

I wish you and your father, and the entire company all the best in the future.

Thanks again, I will never forget what you have done for me.

O.M & R.R

Co Fermanagh

Hello Helen,

Thank you for all your help and understanding and patience with our trying project.

I realise it is what you do for a living, but Terry and yourself have greatly helped our families to get through this mess and we very much appreciate what you have done and continue to do to resolve it.

Thanks again and all the best.

T.M & MMcD

Co Derry/Londonderry

“I have referred in excess of 30 of my clients to Bell and Co. The main point is they only charge an engagement fee and no hidden costs. The client knows what to expect from the start. They have been able to obtain excellent settlements.”

“I have had all the stress and hassle of dealing with lenders taken from me by Bell and Co. It’s great to have someone on your side.”

KGB

Co Down

I would just like to thank Terry Bell and Jessica Cullen for their immediate action during a very depressing time in my life, a few months ago.

I really don’t know how to thank everyone concerned but without you all I would have ended up in a sorry state.

E. G

Co Down

Our daughter purchased a house with her then partner approximately 10 years ago. Unfortunately, the relationship broke up a short time later just before the collapse of the property market and they were left with a house in negative equity.

Mrs A S

Comber, Co Down

We offer a completely free, no obligation initial consultation