The Key Issue
Our client was facing financial difficulties as a result of significant personal debts. They had limited options due to the nature of their occupation, which made bankruptcy an unsuitable route. Compounded by their limited funds to settle the debt, the client’s livelihood and personal assets hung in the balance.
Why they came to us
Faced with the possibility of losing everything, they turned to the team at Bell & Company for assistance. They had heard about us from a friend and came to us hoping that we could assist them with a strategy that did not involve formal insolvency action.
What we did
Thorough Financial Review: Our team conducted a comprehensive review of the client’s financial situation, carefully analyzing their income, assets, and liabilities. Armed with this knowledge, we were able to present a compelling case to the creditor, highlighting the client’s current circumstances and advocating for a mutually beneficial repayment agreement.
Negotiations with Lender: Our highly skilled debt strategists immediately initiated negotiations with the lender and their appointed legal team. We approached the discussions with the aim of settling the outstanding debt for a significantly reduced amount, considering the client’s financial limitations.
The Outcome
Through relentless negotiation efforts, dedication to our client’s best interests, and expert presentation of the client’s financial situation, we successfully secured an amicable agreement with the creditor. The outstanding debt of £170,000 was settled for just over £10,000. This was a mere 6% of the original amount.
The benefit to our client cannot be overstated, as they were able to continue their work and regain control of their life while settling the debt for a minimal sum, relieving them of the stress and burden it had imposed.
This successful conclusion brought immense relief to our client, lifting the burden that had weighed heavily on their shoulders. It also serves as a testament to the hard work and dedication of our team at Bell & Company, ensuring the best possible outcome for our clients in challenging financial circumstances.
