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PRE-INSOLVENCY OPTIONS

Bell & Company offer Independent and Impartial advice
to assess all options available.

We offer a completely free, no obligation initial consultation

PRE-INSOLVENCY OPTIONS

Pre-Insolvency is not always the best outcome for everyone. It is completely dependent on individual circumstances. Bell & company are different because we offer impartial advice to all clients and are able to advise on all options considering potential strengths and weaknesses. We offer a free consultation to review and assess all options and the merits of each.

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IN MOST CASES WE WOULD SAY THAT AN INFORMAL OR PRE-INSOLVENT ROUTE CAN BE THE BEST TO TAKE BECAUSE:

  • A formal insolvency procedure is avoided
  • There is more room for flexibility in negotiations yielding a better result
  • A tailored settlement can be adapted to suit all parties
  • A better return for all creditors involved
  • Reduced costs
  • Issues are usually dealt with on a consensual basis;
  • Legal proceedings and associated costs are avoided;
  • Relationships between creditors can be preserved

OPTIONS & ALTERNATIVES TO A FORMAL INSOLVENCY ROUTE

What is a Full & Final Settlement?

  1. A Full and Final Settlement (F&F) happens when a creditor agrees:To accept less than the whole debt claimed (“full debt”), and
  2. that they won’t take action to recover the rest (“final”).

This is sometimes called a “partial settlement” or “short settlement”

Bell & Company offer Independent and Impartial advice to assess all options available. A full financial review will be conducted to assess the merits of formal and informal insolvency routes dependant on individual circumstances. You can read more about formal insolvency advice here.

The misconceptions of Bankruptcy Exposed
September 6, 2018 | 0 Comments

Bankruptcy, the “B” word, is feared by many. This is often as a result of uninformed misconceptions. There is a possibility of positive and negative outcomes depending on the individual situation. However, regardless of the outcome, Bankruptcies are on the rise. This week we had 23 queries in relation to Bankruptcy. Individual Bankruptcies have increased…

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Third party debt settled for £11,000
August 21, 2018 | 0 Comments

In this instance our client had a longstanding shortfall debt of £36,000. This debt was recently sold to a third party. Our client was worried about the misconceptions of third party debt collection agencies. However, at Bell & Company we regularly deal with third parties such as this one and have a good working relationship…

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£38,000 saving on investment gone wrong
August 21, 2018 | 0 Comments

In this situation, our clients had invested in a second property with an interest only mortgage. However, the value of the property drastically declined in a short period of time leaving the couple with a large mortgage in negative equity. Bell & Company were appointed to negotiate the sale and the full and final settlement…

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Overall savings of £42,000 for older gentleman
August 21, 2018 | 0 Comments

The client in this situation was an older gentleman. He had several properties in negative equity that were causing him a great deal of stress as he was struggling to maintain payments. He approached Bell & Company in the hope of relieving some of the stress that the situation was causing him and his family.…

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£85,000 saving for working family
August 21, 2018 | 0 Comments

Our clients in this situation were a working family with two young children. They bought several investment properties before the crash,which had subsequently fallen into negative equity. This was a huge financial burden on the family and they were struggling to maintain mortgage payments on all properties. The couple appointed Bell & Company to negotiate…

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Summer successes
August 10, 2018 | 0 Comments

For many, summer is downtime for relaxation and rest with schools off and holidays to be had. As ever, at Bell & Company, we are working to steer our clients out of the burden of debt. Read below for some of our summer success stories. £85,000 saving for working family Our clients in this situation…

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What are debt strategists?
July 31, 2018 | 0 Comments

Bell & Company are the UK and Ireland’s leading Debt Strategists, that simply means we develop a strategy to best alleviate a client’s debt burden. We are approached daily by over extended borrowers and tailor our advice to their individual circumstances to ensure there is a realistic and pragmatic option for them. Our Experience With Lenders…

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My debt has been passed to a third-party debt collection agency, what does this mean?
July 24, 2018 | 0 Comments

You may have received a letter from your lender to advise you that they ‘have transferred your debt to a debt collection agency’ and subsequently received a letter from said collection agency that states that ‘your details have been passed to us and we will now be dealing with your account’. There is no need…

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Loan Sale – What does this mean?
July 9, 2018 | 0 Comments

With the recent controversy surrounding Ulster Bank’s sale of 5,200 ‘non-performing’ home loans, the topic of loan sales comes to the fore. People whose loans with the likes of AIB, First Trust and Ulster Bank have been sold would have been notified by letter that their loan had been bought by third parties such as: Everyday…

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Overall savings of £28,000 for family of 5
July 4, 2018 | 0 Comments

The case in question was ongoing for several years. Our clients, a family of five, owed in the region of £70,000. The family had fallen on hard times with the breadwinner being made redundant and they were struggling to make payments. Bell & Company entered negotiations with the lender on behalf of the family. The…

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We offer a completely free, no obligation initial consultation