NI PREMIER DEBT ADVISORY PRACTICE
It’s incredible how time moves so fast. Just over five years ago I sat down with my now business partner James Gibbons as we felt there was a real demand for a team of professional people who tried to help borrowers in distress and more importantly did not work for the bank. In September of that year we decided to have a go and GDP Partnership was born. Five years on and we are now recognised as Northern Irelands premiere debt advisory practice and have been able to achieve hundreds of millions of pounds written down on behalf of our client base, which is a very empowering feeling for our team.
Since 2007 Northern Ireland has been under serious distress due to the collapse of our banking system, property crash and global financial crisis. Literally hundreds of thousands of people got caught out in the crash and many people have lost everything. It will go down as one of the most incredibly painful times for our people in the last one hundred years.
Nearly ten years on from the onset of the crash, it would be fair to say that some things are starting to improve. Unemployment is reducing, more jobs are being created and the housing market has started to show some positive signs.
However one problem that still remains across the country is that scourge of property related debt and negative equity. It is now estimated that over 70,000 homes across the province are in negative equity and instead of our own practice getting quieter in this area, in the first three months of this year we have been twice as busy as this time last year. What does that tell us?
In counties like Armagh, Tyrone, and Derry, there are hundreds of families still facing this deeply distressing problem, which is causing huge issues for all of those affected.
One of the goals of GDP EQUITY EXPERTS has always been to educate people on all of their options if they find themselves in financial distress related to property debt. We then would put together a tailored plan bespoke to the individual, family or business.
It’s ultimately down to you the borrower to take responsibility and more importantly action, to deal with the challenge you face, this is the hard part.
In terms of our own team at GDP we are thankful that we have been able to literally take hundreds of people very successfully through this process in the last five years. By the way things are shaping up in NI it looks like there will continue to be a high demand for our expertise for some time yet.
It is important to understand that there are always options and always light at the end of the tunnel.
If you do find yourself in a situation like this, we want to hear from you. Our company is the only company in this sector to be fully regulated by the FCA, and have a full professionally qualified team ready to assist you and your family through this distressing period.
GDP EQUITY EXPERTS: www.gdpequityexperts.co.uk 02892 444 555
Conor Devine MRICS