Receiving a letter from a bank or solicitor may seem like the end of the world. However, there are options available to prevent the situation from escalating. EU Property Solutions take a realistic and manageable approach to all debt issues.
So you have received a threatening letter from a bank or solicitor about your property in Spain, Portugal or Cyprus. We understand the immediate worry this can cause but, don’t panic. Lenders employ this technique as standard however, it does mean that they are intent on recovering money owed. This can be through the banks themselves or via third parties (vulture funds).
If you have received a letter, it more than likely is a result of your original lender selling your loan to a vulture fund. Vulture Funds deal with distressed securities with a high level of default. Like ‘vultures’ they swoop in on their prey and extract whatever they can from the defenceless victims. It’s best to be wary of them, as they are incredibly efficient in legal proceedings and the recovery of every Euro/Pound owed to them.
Unfortunately, these funds can and will pursue you across at home in the UK or Ireland. They may employ a UK-based collection form/solicitors to do this. Ultimately, this could put your assets such as your home at risk.
Quite often the communications you receive will become more frequent and more aggressive in an attempt to scare you into paying the outstanding debt.
As we said firstly, do not panic. Second, do not ignore the issue. Although it can be easy to feel like you can leave this issue behind you, it can follow you. Ultimately, these problems only get worse with time as costs and fees are added.
EU Property Solutions have assisted hundreds of borrowers in your situation. If you have received a threatening letter from a bank and don’t know where to turn to, contact our team today on 0044 330 124 1230 or send us an email at [email protected]eupropertysolutions.com
If you’re interested in learning more about Loan Sales & Vulture Funds we have released a 4-part series on YouTube detailing the implications involved, click here to watch: https://www.youtube.com/watch?v=oKdM5LdnrPA
We are a UK based firm with legal teams in Spain and Cyprus who understand the market and Bank practices as they stand. We remove the language barrier and utilise law, Bank lending flaws and current client circumstances to negotiate the best feasible outcome for all our clients.
EU Property Solutions was formed following the success of our associate firm Bell & Company. An FCA registered firm of Debt Strategists, Bell & Company assist individuals in difficulty in the UK and Republic of Ireland with Personal and Business-related debt issues.
We have an excellent track record of success. Our success stories and testimonials come straight from our clients & highlight the high quality of our works and outcomes. We have individuals willing to speak to prospective clients on the telephone to offer their story and experience.
Our obligation is always to our client and that is where our strength lies. Debt is highly stressful and emotional. We deal with debt day in day out and employing an intermediary removes emotion from the situation allowing clear strategy to be implemented to get the best outcome for our clients. Understanding a firm of professionals is acting on your behalf can remove stress and focus the mind to a positive end goal.