Business borrowings in personal name

By on November 16th, 2016


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Debt settlement

-A retail Client of ours had a debt settlement who was involved in an acrimonious breakdown with a local Bank regarding money he owed to them for which he was personally exposed.

-There was a shortfall of c£400,000 owed on his own home, further to a consensual sale negotiation involving an agreed third party and business debt of c£600k owing further to the consensual sale of several properties.

-His overall exposure then was in the region of £1m

-Further to advancing intellectual, detailed and supported argument and proposals to the Bank, we settled on a full & final basis with a monetary amount of £50,000.00

-This resulted then in savings of £950,000

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