Here’s What You Need to Know About Foreign Property Debt
Received a letter from Axactor demanding payment for foreign property debt? Learn why they are contacting you and how EU Property Solutions can help protect your assets and resolve your debt issues.
Why Are You Receiving a Letter from Axactor?
If you’ve received a letter from Axactor, a leading vulture fund, it’s likely that they’ve acquired your foreign property debt. These funds purchase Non-Performing Loans (NPL’s) and will use all recovery methods necessary to recover debts owed. Many individuals who previously owned properties abroad have found themselves in this situation, particularly after the financial crash of 2008.
Axactor specialises in purchasing large portfolios of Non-Performing Loans (NPLs), including those from major banks like:
- Santander
- BBVA
- Banco Popular
- CitiBank
- Caja Mar
- La Caixa
- Banco Sabadell
Once the debt is sold to Axactor, they will pursue repayment through legal and financial means. They will continue to recover the debt, even if it means pursuing you in your home country.
Why Did This Happen?
The origins of this situation lie in the financial crisis of 2008, which caused many property owners to default on their mortgages. Additionally, issues like currency fluctuations (e.g., Euro to Sterling exchange rate changes) and Swiss Franc mortgages (especially common in Cyprus before 2008) have compounded these challenges.
When a lender sells your debt to a vulture fund like Axactor, they gain the right to pursue repayment, and that’s where things can get complicated.
What Can Axactor Do to You?
Once Axactor has acquired your debt, they will use whatever methods are available to them to recover the debt. Their methods can include:
- Issuing County Court Judgments (CCJs)
- Placing second charges on your property
- Pursuing other assets to settle the debt
Additionally, due to the age of the debt, Axactor will likely add substantial interest and legal fees, increasing the total amount owed significantly.
This means your financial future could be at risk if you do not act quickly. It’s crucial to understand your rights and the best steps to take in order to protect your assets.
How EU Property Solutions Can Help You
At EU Property Solutions, we specialise in assisting clients who are facing aggressive debt collection from vulture funds like Axactor. If you’ve received a letter from Axactor, here’s how we can help:
- Expert Debt Negotiation: Our team has extensive experience negotiating with vulture funds to reduce your debt and secure favourable settlement terms.
- Bilingual Support: We have a multilingual team that can translate documents, communicate on your behalf, and ensure you understand every step of the process.
- Protection of Your Assets: Our goal is to help you avoid legal action and protect your property and savings.
Take Action Now to Protect Your Financial Future
Ignoring a letter from Axactor can have serious consequences, including escalating legal action. The sooner you take action, the better your chances of resolving the situation on your terms.
📞 Call +44 (0) 371 454 3676 today for a free consultation.
📧 Or email us at [email protected] for more information on how we can help.
Check out our website to read more on being pursued in the UK.
Conclusion: Don’t Let Axactor Control Your Future
If you’ve received a letter from Axactor, it’s crucial to take control of the situation before things escalate. With our expertise in handling foreign property debt, EU Property Solutions can help you navigate this complex issue and secure the best possible outcome.
For more information and helpful advice, visit our YouTube Channel for webinars, client interviews, and real-life case studies.
