£1.75m of Debt Written Off
In the six weeks to December 2014 we experienced our most successful period with a number of our Negative Equity cases coming to a successful conclusion. GDP Equity Experts have had over £1.75m debt written off for our clients – full details of which can be found on our Facebook page and the Success Stories section of this site.
The recent settlements have been as a result of months of hard work and a mutual understanding between the bank and the borrower – that by working together, the optimum position is achieved. With amicable agreements obtained between 2p and 16p in the pound, local and mainland banks have secured a maximum return by working with the borrower and likewise, Christmas came early for a number of our clients.
Debt is still a major issue for too many of our SMEs and property owners in Northern Ireland and this is not going to change any time soon. We have been working tirelessly with clients who have found themselves in Negative Equity through no wrong doing of their own to find a solution which works for both the client and the bank.
For those who are new to the site, GDP engages directly with the Banks and the Mortgage Providers on behalf of our clients. GDP mediates on an impartial basis with no agenda other than to ensure the best outcome for all parties. The key point is GDP does not work for banks and has no conflict of interests, so endeavours to reach a full and final mediated settlement.
For me, being able to help individuals and SMEs remove the overhang of debt on many occasions is life changing for those concerned and as a professional person working in this space is very empowering.
Debt comes in all guises and we have seen its effect first hand. The sleepless nights, the breakdown in relationships, the adverse effects on health… the list is endless. Without a doubt it is best to tackle it head on and not to kick the can down the road. There is still a real lack of understanding around money, finance and debt and how you go about dealing with the issues. The point is, the support is there, many people are just unaware.
Nobody likes talking about their debts, so a lot of what we do in this area is to educate people around all of the options open to them on a very independent and impartial basis. Typically this would encompass a three-step plan: educate yourself with information and options; get a plan in place; and move forward with your strategy.
So get in touch! We have already started the year as we mean to go on with a number of recent settlements in the last few weeks. For many, 2015 could be the year they are no longer in debt!