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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.

SAVINGS OF £62,000 & BANKRUPTCY AVOIDED FOR YOUNG FAMILY
July 18, 2018 | 0 Comments

Our clients in this situation were a young family with a new baby. They had been struggling to keep up with payments on their mortgage for some time and made the decision to surrender their property back to the lender as the property was in negative equity. This left a crystallised shortfall of £70,000, an…

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What is a ‘zombie’ company?
July 16, 2018 | 0 Comments

A ‘zombie’ company is simply a company that is neither dead nor alive. It is so overwhelmed by debt that it merely exists and any cash generated is being used to ward off the debt owed to creditors. In many instances, the debt is not being reduced. With this, the majority of ‘zombie’ companies are unable…

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My Loan Has Been Sold to A Third Party – What does this mean for me?
July 9, 2018 | 0 Comments

Increasingly at Bell & Company, we assist individuals and businesses whose original loans have been sold to a third-party debt purchaser. 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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4 REASONS WHY you should appoint an Intermediary
July 4, 2018 | 0 Comments

  A question we often hear from potential clients in their initial consultation is why can’t I do this myself? In short there is nothing stopping you from liaising with your creditors yourself. However, we know that the process is much smoother, less stressful and often more successful with expert assistance. Intermediaries like ourselves carry…

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Liquidator of a Company – Do I have Personal exposure?
June 26, 2018 | 0 Comments

The failure of any company is distressing enough, and all company debts would be dealt within the liquidator’s work. There could be elements of the liquidation that cause personal exposure and put your assets such as your home, car or savings at risk. Personal Guarantees This is an area we specialize in. Personal Guarantees may…

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£54,000 Saving & Burden lifted
June 21, 2018 | 0 Comments

Our client, in this case, was recently a separated, parent of three. They had been struggling for some time with mortgage repayments and made the decision to appoint us at Bell and Company to lift some of the weight off. The client had a crystallised shortfall of £60,000 split between a major high street lender…

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£65,000 Saving & Home Protected
June 21, 2018 | 0 Comments

Our client, in this case, had been unable to maintain the payments on her mortgage and had developed huge arrears in an extended period of financial difficulty. The property in question was a 2nd property, which was tenanted. Bell & Company upon initial consultation advised the client on a consensual sale however the lender in…

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Eviction avoided & £200,000 shortfall settled for 10%
June 21, 2018 | 0 Comments

Our clients had found themselves in increasingly distressing circumstances and were due to be evicted from their family home. The bank had given the family 10 days to vacate their home before it was repossessed due to arrears on the mortgage. We have developed a great relationship with this particular lender over our years in…

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Tricky Shortfall of £40,000 settled for £8,000
June 21, 2018 | 0 Comments

Our client, in this instance, had been with Bell & Company for several years. They had simply invested at the wrong time, just before the property crash of 2008. He owned a problematic buy-to-let property portfolio and had a number of properties now in negative equity. The client’s lender, who are notoriously difficult and reluctant…

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We offer a completely free, no obligation initial consultation