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Our Client had an outstanding mortgage shortfall of £13,000 and needed to break free from their debt to move on with their life.
Many lenders consider lower outstanding debts such as this to be deemed as ‘affordable’ over someone’s lifetime. In such a case, the lower level of crystallised debt could provoke the Lender consider it reasonable to request full repayment over a long period time thus prolonging the burden of the debt. However, as ever, we were there to work through negotiations and achieve a deal which worked for our client and also for the lender.
After prolonged negotiations, our team achieved a full and final settlement of £5,000 thus saving our Client in total £8,000. The Client was delighted with the result, not least of all as they anticipated that the lender may have viewed them eligible for full repayment over time.
Each case we undertake is different and every client’s situation differs however the one thing that brings them together is their need for options and solutions to their problematic debt. We work around the needs of all our clients to enable the best solutions possible and provide the relief of a fresh start.