What are the next steps?

What are the next steps banner

You have to think about the steps you will need to take in order to deal with the issue of any personal guarantees you have signed.

Here are some of the questions you will be asking……………..we know because these are all the urgent questions we get asked every day!

  • How do I come to a sensible settlement figure?
  • Will it count against me if I put in a low offer?
  • How long does it take?
  • Do I negotiate on the penalty interest?
  • Can I freeze any penalty interest?
  • Will they force me to sell my house?
  • Will I need to sell my assets?
  • Will they only accept a lump sum?
  • Can I suggest a monthly payment plan?
  • How do I write the proposal?
  • How do I value my assets?
  • How do I write an income, expenditure and asset statement?
  • Do I speak to the bank or should I write to them only?

As you read through all the information on this website you can see that we can help to answer all these questions  and also to deal with all these issues on your behalf.

Here is a step-by-step description of what we will do :-

  • 1. Have an in depth discussion with you and assess your position, then advise you on the best way forward – and whether we can help.
  • 2. We will then advise you of the fee structure and send through the documentation that will allow us to work on your behalf.
  • 3. The first thing we will do is check the validity of the guarantee documents that you have signed.
  • 4. Then we will ask for detailed information so that we can assess your financial position.
  • – Your income / Your expenditure
  • – Your assets/ Your liabilities
  • 5. We will then collate all the supporting document:
  • – Mortgage statements/Tenancy agreements
  • – Wage slips
  • – Bank statements
  • – Property valuations
  • 6. Following this we will produce a document called “Estimated Outcome Statement in the event of bankruptcy”
  • – This is what we will use to negotiate on your behalf and to demonstrate that our offer of settlement is the best option
  • 7. We then negotiate for you based on what is affordable and sensible for all parties
  • 8. Finally we agree the offer to be made
  • 9. We finalise the settlement

Call us to discuss your situation and we will do our very best on your behalf.