A couple were going through an acrimonious divorce. Both had very high incomes and an unencumbered property each back in the UK. They had a troublesome Spanish Villa which was c€300,000 in Negative Equity. This was their one remaining joint asset and the couple would not liaise directly with each other to resolve the matter.
We were appointed and we successfully negotiated the voluntary surrender of the property to the Bank and a complete debt write off despite their strong financial position in the UK. The savings made including the Negative Equity Balance and outstanding IBI taxes was in the region of €315,000.
You can read more about our works associated with problematic property debt in Europe from our sister company EU Property Solutions