Debt Relief Success: Saving Family Home After Unexpected Loss 

Our client faced a heartbreaking situation after the sudden passing of her husband. In addition to the emotional turmoil the family were going through, they were also facing repossession threats due to a £437,000 debt which was secured against their only asset, the family home. One lender held the primary mortgage for £385,000, while a second lender had a charge of £52,000. 

Why the Client Reached out to Bell & Company

The weight of this debt and the threat of repossession added immense stress to our client’s already difficult time. Fortunately, she sought our help after learning that we specialise in negotiating favourable outcomes for clients facing financial hardship. 

How We Helped

Our Debt Strategist team took a multi-pronged approach, they conducted a thorough review of all documentation relating to the liability, investigating the details of the original mortgage, uncovering potential irregularities. They provided the client with legal guidance regarding possible defences against any repossession threats. Our team made the crucial choice to arrange a property valuation, as we believed the value of the property should be lower than the initial estimate brought forward by the lender. This lower valuation strengthened our position during negotiations. We liaised directly with the lenders appointed solicitor, using legal and technical arguments that we had identified from our review of the documents. We asserted the rights of our client and the wider family to force the lender to accept a pragmatic and commercial settlement. 

After successful negotiations, the first lender accepted a significantly reduced settlement of £185,000. This saved the client a staggering £252,000. Furthermore, we also secured an early settlement discount from the second lender, resulting in a saving of £9,350. 

The Outcome

Through skilled negotiations and legal expertise, our team achieved a remarkable outcome for this client. We were able to reduce the overall debt by £261,350 and, most importantly, remove the charges from the property. This secured a clean title for the house, ensuring that our client could keep her family home during this challenging time. 

The Importance of Seeking Help

This case highlights the immense value of seeking professional help when facing overwhelming debt. Debt Strategists, like ourselves can navigate complex legal issues, negotiate with lenders, and save clients significant sums of money.  

In this scenario, our intervention not only saved the client from financial ruin but also alleviated a tremendous emotional burden, allowing her to focus on the things that matter most.  

If you, or anyone you know is struggling with a difficult financial issue, please don’t hesitate to reach out to our specialist team. We offer impartial, tailored advice alongside a free initial case review. Call us today on 0330 159 5820 or send us an email at [email protected]