If you’re wondering what an NPL actually is – then you’ve come to the right place.
NPLs stand for non-performing loans. A standard loan becomes an NPL when borrowers stop repaying a loan they have taken out, for example, a mortgage.
NPLs are a problem for banks. When they become non-performing the likelihood of them ever being repaid in full becomes increasingly unlikely.
They will want to offload as much of these as they can as they weaken a bank’s profitability because they generate losses which reduce the amount of money banks earn from their credit business.
As a result of this, Banks will offload these NPLs by selling them to vulture funds who will then work solely with the aim to recover as much of the debt as possible.
How does this affect you?
This could affect you if you handed back the keys to your foreign property to the banks and walked away. Axactor, a large multinational vulture fund has recently acquired over €459 million of unsecured non-performing loans that include Spanish property from Santander.
Other examples of vulture funds that our clients have received a letter or even an email from include:
If you, like thousands of other people, handed back the keys of your foreign property to the banks 15-20 years ago when costs spiralled out of control in the hope that the matter would be resolved amicably, it gives us no pleasure to say you have unfortunately been misinformed. The debt still exists and a letter or email from one of these vulture funds is imminent. These organisations will stop at nothing to recoup the debts owed to them. They will go after every asset you have.
| Procobro | APS | Tilden Park |
| DoValue | B2Capital | KKR |
| Skycac | Themis | PIMCO |
| Altamira | CAC Coral | Cerberus |
What should I do if I receive correspondence from a Vulture Fund?
EU Property Solutions have been extremely successful in resolving these types of cases involving non-performing loans. Check out our Youtube Channel and watch a direct testimonial of our clients Debbie and Dave who we worked with to achieve a fantastic settlement below:
If you have received a letter from SKY CAC, Axactor or another vulture fund, do not hesitate to contact our team today. By contacting us you will be taking the first step to resolve your foreign property debt in the most cost-effective and efficient way, so what are you waiting for?
By employing EU Property Solutions to resolve the issue we can translate documentation, communicate & negotiate with these vulture funds whilst achieving massively reduced settlement figures helping save you time and money.
If you want professional representation from a company with years of experience managing foreign property debt and dealing with vulture funds, contact us today at +44 (0) 330 124 1230, as well as this, you will receive a free consultation.
Finally, you can also email us at [email protected] to find out how our team of specialists here at EU Property Solutions can assist you.
