The Rules of Engagement...
I am fortunate to work alongside some inspiring business leaders, the kind of people who look at issues 1080°, to bring real solutions to client problems. When I joined the practice three years ago, I was given some simple but strong advice from one of them - in order to be successful, for both your clients and yourself, you need to be the best at what you do.
An inspirational Einstein quote sits on my desk that I read every day: "You have to learn the rules of the game. And then play them better than anyone else." Armed with this information, I have studied the various sources of legislation and regulation, the "Rules of Engagement" as it where, in order to mediate amicably (and to date successfully) with banks on behalf of my clients the distressed borrowers.
GDP entered the bank mediation market to help people - to level the playing field that existed between banks/borrowers in order to amicably end, or indeed rebuild, strained relationships that have developed between the two parties.
The GDP aim is to help a borrower obtain a solution to their legacy debt whilst the bank repeatedly requests the proposals from them. This focuses on educating borrowers on their options, help them prepare debt proposals for the bank, and assist them to implement their proposals.
GDP are not a practice of "bank bashers", a common misconception, but we do now and again come across instances where a bank has not abided by the "Rules of Engagement" but instead adapted the role of "Financial Terrorist", terrorising a distressed borrower with the unfair relationship.
In fact, the NI Attorney General Mr John Larkin QC has accused Halifax and Bank of Scotland of "criminal fraud" in relation to the bank's treatment of customers in arrears. He told the court that the matter has now been drawn to the attention of the police. Naturally the bank have rejected the claims, saying it strongly takes issue with the allegations. Contrary to this position, the bank have dropped their appeal to the previous court hearing that confirmed they had unfairly been double billing customers.
This isn't the first time in recent times that Lloyds Banking Group have come to our attention for acting outside the regulations that they must adhere to. The Financial Conduct Authority (FCA) are currently investigating their non-compliance with Section 13.3.2A of the Mortgage Conduct of Business when dealing with customers in arrears and in financial difficulty. This refers to dealing with payment or sale debt shortfalls. We urge you to watch this space.
Lloyds Banking Group includes Bank of Scotland, Birmingham Midshires, Cheltenham & Gloucester, Halifax, Lloyds Bank & TMB.
If you have ever been in arrears, or brought to court by this banking group, please get in touch. Subject to your circumstances you may now be entitled to financial compensation due to their actions.