Liability of £120,000 with secured assets worth £195,000 sold to ‘vulture fund’ settled for £38,000, vulture fund negotiations took place.
Our client’s liability with a major banking institution which was sold to a ‘vulture fund’ with a secured asset attached worth £195,000. This case involved vulture fund negotiations.
The client could not bear the thought of losing his family home.
He tried to ignore the situation, however:
- at this stage, solicitors were instructed by the vulture fund to take possession of the asset.
Giving notice to the client, he sought independent advice and this is where Bell & Company came in.
With our strong legal & financial backgrounds, our team of strategists were quick to act and thus halted immediate action from the solicitors.
With continued correspondence and negotiations with both the Bank and Solicitors.
We successfully managed to stop any further legal action and propose a full and final settlement.
With our steadfastness approach to getting the best result for our client with vulture fund negotiations.
We were able to come to an agreement with the lender and settle the debt for £38,000 in a full and final settlement.
Not only this but the client was able to protect his home and exit the scenario with his liability cleared.
Total Savings of £82,000 achieved!
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