Archive for October, 2017

A couple helped out of huge shortfall after their separation

A former couple had been under the weight of a huge shortfall of over £105,000. They were both trying to move on with their individual lives, but, this lender, in particular, remained unsympathetic to their situation. After a number of weeks negotiating, the lender placed the file on hold for a year, hoping for a change in circumstance that may lead to a higher return for them. This, of course, was unreasonable on all fronts.

The individuals wished to move on with their lives but were tied together with this debt. The bank remained solid that they were not negotiating for a year regarding this case. Our team strategized and decided to adopt a different approach to the lender. Within a few weeks, the lender had been convinced to accept the offer at 20% of their shortfall.

Like all cases at Bell & Company our team was very hands on, but in this case, when faced with obstacles from the lender, our team devised new strategies and became even more determined to get the best deal for our client, which is a testament to our success. Expert Negotiators with a wealth of experience in dealing with many types of lenders.

If you are experiencing similar issues and need assistance in property debt, then call us today. Our negotiators are experiencing excellent settlements even in times where lenders are changing their protocols.

The dangers of an interest-only mortgage

Have you been enticed by an interest-only loan or mortgage?

An interest-only mortgage may initially seem like a brilliant prospect when you decide to buy a house; an interest-only period where you only pay back the interest of your loan rather than what you’ve borrowed is an attractive option for many.

Lower monthly repayments mean you’ll free up more cash, and you’ll have a long time before you must actually start paying back what you owe (the interest period on interest-only home loans is usually five or ten years). An interest-only loan might simply be the only option you can afford at the minute. However, there are dangers to consider when going in for an interest-only loan that you should be aware of before signing up to one.

Zero-progress payments

When you sign up for an interest-only mortgage you’re essentially signing up to be giving away your own cash for several years without even putting a dent into the actual amount you’ve borrowed. Consider how much your total payments for the interest period will be once it’s over, and then added that to the amount you’ve borrowed. The final sum may not be as an attractive option as you first thought. You could possibly be signing up for a loan which is going to charge you a huge surplus on what you need to borrow, and it may be worth simply waiting a year or two and going for a traditional loan that could be much cheaper in the long run.

Putting off the inevitable

Many consider ten years to be a lifetime away, but it will, of course, come around eventually. An interest-only loan may delay reality for a period of years, but you should be aware that you are going to have to pay the full amount back one day, in addition to a hefty sum accrued over the interest period. Always think of the total amount repaid when considering opting for an interest-only loan rather than the eye-catching, attractive monthly repayments.

What if you already have an interest-only mortgage and are approaching the repayment part?

Those of you who already have an interest-only mortgage and are approaching repayment should be vigilant to the fact that it’s been ten years since the recession. As a result of this, house prices have fallen and many may be in negative equity, meaning that there could be serious financial implications including insolvency, bankruptcy and asset seizure should you not be able to meet repayments. If this happens, you can rest assured that Bell & Company will be right by your side to provide high-quality services and advice regarding debt management, personal and business insolvency and business turnaround to remedy your situation. Are you looking for sound financial advice from a team of experts in the field? Call 0330 159 5820.

Despite difficult lender, a 10% settlement can be achieved

A settlement of 10% can still be achieved, even when faced with a difficult lender

A couple with a large shortfall of over £120,000 with a notoriously difficult lender approached us for help. While we had overseen the sale of the property and had been attempting to negotiate with the lender for quite some time, the couple began to consider the option of personal insolvency. Personal Bankruptcy has so many negative connotations associated with it. Bell & Company feel, however, since 2008 the stigma associated with the process has gradually lessened.

Bankruptcy can have benefits and it is an excellent tool when armed with the best advice. Sometimes, if a person is saddled with excessive, unaffordable unsecured debt then Personal Bankruptcy can be the best route forward. Our team was able to utilize innovative new strategies and within a few months, the lender settled at 10%. A massive achievement, as this lender, in particular, is not usually open to negotiations!

If you find yourself facing issues such as insolvency, contact the team here or call 02895 217 373 to discuss your circumstances and take the first steps towards your fresh start in life.

English ‘buy to let’ case settled within 5 months

A young man based in England approached our company regarding an unsustainable ‘buy to let’ property he owned.

After weighing up his options, he decided after much deliberation to surrender the property back to the lender. Thankfully the property sold quickly and left a shortfall of just over £30,000. This shortfall is deemed as a “manageable debt”, especially for someone who is quite young and in full-time employment. “Smaller” shortfalls such as these are notoriously difficult to settle, especially at a lower percentage. They will often take quite some time.

In this instance, however, our clients were in a position to offer £3,000 in full and final settlement, 10% of the debt. The lender was extremely cooperative, thanks to our strong professional relationship and the case settled within a few weeks. From surrender to the settlement, the turn around was just 5 months. Needless to say, our client was ecstatic!

“Smaller” shortfalls such as these are notoriously difficult to settle, especially at a lower percentage. They will often take quite some time. In this instance, however, our clients were in a position to offer £3,000 in full and final settlement, 10% of the debt. The lender was extremely cooperative, thanks to our strong professional relationship and the case settled within a few weeks. From surrender to the settlement, the turn around was just 5 months. Needless to say, our client was ecstatic!

From surrender to the settlement, the turn around was just 5 months. Needless to say, our client was ecstatic!

If you find yourself facing issues surrounding property debt, feel free to contact us.

Our team will endeavor to answer your queries within a few hours of receiving your inquiry.  If your query is of an urgent nature you can call our office directly on  02895 217 373 or speak to a member of our team via live chat. We offer a free consultation and full financial review.


Finance professional avoids Bankruptcy

Bell and Company recently assisted a professional to avoid Bankruptcy

Our client, who happened to be a professional in the field of finance, unfortunately, fell victim to the property crash, which saw them left with a shortfall of over £110,000. They decided to surrender the property back to the lender as arrears and liability continued to grow, with no visible resolution.

Upon the initial consultation with ourselves at Bell & Company, we were able to oversee the surrender of the property and swiftly entered into negotiations for settlement. Due to our strong relationship with their lender, we achieved a full and final settlement of £5,000, under 5% of the shortfall, with a write-off, of over £105,000!

We pride ourselves on our ability to think outside of the box. We can provide strategies and solutions that others wouldn’t consider. Contact us today if you would like to arrange a free, no-obligation consultation on 02895 217 373.

Alternatively, have a look at our frequently asked questions on our website.

A young couple caught up in the Recession

A young couple found themselves caught up in the Recession, financial downturn of 2007, have a look at their journey to success.

The couple had made investments into 3 rental properties across different lenders, along with having a mortgage on their own home. After the downturn in the market in 2007, they found themselves with 4 properties in negative equity.

With rental income not covering their mortgage payments for the properties. At this point, our client sought resolution consultation from Bell & Company and our trained debt strategists were able to devise a plan for moving forward.

Following attempt for resolutions for 2 properties, the couple found themselves faced with an aggressive non-cooperative lender. Through rigorous negotiations, our team, after developing a tailored strategy were able to achieve a full and final settlement at 10% of their shortfall, with savings of over £55,000! A great success for the couple, and for Bell and Company.

If you are facing any of the issues highlighted above, feel free to get in touch with one of our team here at Bell and Company. You can contact us on 02895 217373 or speak to us via our live chat.

Have a look at our Negative Equity page here.

Why we should think before taking out Credit Cards

Why you should think before you pick up the plastic

UK consumers are using credit cards, debit and charge cards more and more; 158.7 million cards wers issued as of 2019. Many view cards as an easy way to pay for items they cannot afford now and pay the money back at a later date, or to tide them over until pay day at the end of the month. Having a good repayment history can actually improve your credit score anyway, so what’s the problem?

A downside of using credit, debit and charge cards is that they can make it harder to track your money and keep a hold over your finances.

Spending without realizing

The average credit or debit card user will buy multiple things during the average day and think nothing of it. The UK alone has a credit card debt of £72.5 billion .

A quick swipe of the contactless card for a coffee during lunch or a quick drink after work all adds up, but it’s unlikely if you asked a card user to tote up all of their outgoings, they’d include purchases such as these. They’ll usually add up their main bills such as rent, bills, and car payments and forget to include their smaller day-to-day payments, which often take multiple days to go through and can trick people into thinking they have more money in their accounts than they actually have.

People who fall into too much debt from excess spending may even fall into bankruptcy and be at risk of losing their homes and assets in order to recuperate what they owe. If this happens to you or someone they know, rest assured that Bell & Co are on hand to provide the right advice for dealing with debt situations for individuals and businesses.


Another reason that cards can make money difficult to track is the issue of surcharges. Missing a payment will leave you with less money than you would’ve done if you’d paid your bill on time. This negatively affects your credit rating.

You might not even be aware of having surcharges as your card may allow you to pay for items you may not have the cash for anyway, which makes it even more difficult to track where your money’s. Horror stories about overdraft charges are rife. Many people have bought an item they thought they could afford, only to discover massive charges on their account.

Balance checking

As mentioned, many charges on credit and debit cards often take days to be processed. Fooling users into thinking they’ve got more cash on their cards than they have.

The only ways to combat this is to either keep a list of outgoings which is stringently updated daily, so you know exactly how much you’ve spent, or to check your account as often as possible. Rather than every couple of days to get the most updated version of your balance before you spend more.

If you’d like reliable advice on money management from experienced industry professionals, call 0330 159 5820



Mortgage debt settlement at 4%

Mortgage debt settlement at 4%

An older gentleman had come to us with a second property that had fallen into disrepair. He had an interest only mortgage where the term had come to an end. Our client was being pursued full repayment of the facility as per his terms and conditions, however, given his age and a slowdown in his agriculture business, he was not in a position to meet the repayment terms.

In this case, the lending institution was extremely sympathetic to our client’s circumstances. He did not have the capability to offer a lump sum payment initially, so he entered into a payment plan of a small amount each month. He continued these payments for almost a year, before being offered a case review from the lender. At this stage, our client had gathered enough funds to offer as a full and final settlement.

Due to the cooperation with the lender, along with our team’s continuing strong relationship with the bank and negotiations, a full and final settlement was reached at 4% of the outstanding debt.

This saving enabled our client to get his life back and live the rest of his life with peace of mind his debt wouldn’t be a burden.


If this sounds like a situation which you may be in, visit our negative equity page and see how we can help you today. Alternatively, call us on 02895 217373 or speak to us via our live chat.


For more success stories regarding property debt see:

No company is too big to fail!

Why do many large companies view themselves as being “too big to fail”?

Huge businesses turning over hundreds of thousands of pounds a year can be being a million miles away from a small, family-run business.

It’s important to remember, however, that debt still needs to be paid off whether you’re running a massive investment bank or a family bakery. Evidence has proved over recent years that no company is too big to fail, a point that all large businesses should never forget.

2008 Financial Crisis.

The term ‘too big to fail’ was coined after the 2008 financial crisis. Being ‘too big to fail’ was seemingly the impression that many huge companies had of themselves. They were so large, that if they went bust, they’d have a catastrophic chain effect upon the economy. Therefore, would have to be bailed out. The name that springs to mind, of course, is that of Lehman Brothers.

The enormous investment bank had a staggering sum of $619 billion dollars’ worth of debt when it filed for bankruptcy, the largest ever case of bankruptcy in history. This all came as a result of the company being too eager to lend. Buoyed by its own size and swelled by its importance in the market. The company allowed itself to get into debt that it couldn’t have any hope of paying back.

Many contest that simple business acumen such as considering when money can be paid back and not allowing the business to fall into too much debt could have avoided the initial reckless lending, and subsequent collapse that followed. Alas, this didn’t happen. You may have noticed that Lehman Brothers are no longer with us today.

What should we learn from this?

The lessons that businesses need to take away from the fall of Lehman Brothers is that no matter how large a company they are. They should always be aware of the warning signs of impending financial trouble. Poor retention of money being lent or bad rates of repayment on payment plans for products could signal an incoming crash.

Likewise, businesses should be careful about how much they initially lend out and ensure they only lend to clients who have a realistic prospect of paying for what they owe.

If the worst happens, businesses should immediately turn to debt-management experts for the right solution to financial troubles, insolvency and business turnaround.

Call us on 0330 159 5820 or read our E-brochure for further information on Bell & Company and the service we provide. 


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