Debt Resolution – business still trading
Reduced debt settlement, with business still trading – client saving £450k
A client with a substantial investment property portfolio had a loan facility of £1m. Loan payments were fully covered from rental income and they had an unblemished payment record.
However, due to their bank’s change of strategy they were given three months notice to find a new bank. Unfortunately the deterioration in the property market left them in negative equity and they were unable to raise sufficient funds to repay the bank.
AFT successfully negotiated a settlement agreement with the bank at £550k enabling the refinance to proceed – a client saving of £450k or 45% of the original debt