A gentleman appointed EU Property Solutions having been contacted by a UK firm of solicitors acting on behalf of an eminent Spanish Bank. Our client had fallen into difficulty repaying the mortgage and fell into arrears. Subsequently, through the Spanish legal system, the Bank repossessed the property and a forced sale position was realised.
Following the sale of the property, a shortfall was realised. The Spanish Lender through the European Enforcement Order appointed a UK Firm of Solicitors to collect the debt. The finalised shortfall balance including costs and interest was €109,389.
EU Property Solutions negotiations negotiated a full and final settlement of €4,000 – a massive saving of €105,389. We protected our client’s income, credit rating and also his home asset. The lender in question has previously placed charging orders on UK assets should there be an unsettled shortfall debt in Spain.
Furthermore, the letter from the appointed Solicitors was threatening and ultimately threatened Personal Bankruptcy. All of this was avoided and our client was delighted with the settlement.