.: Arrears Management:.

.: Arrears Counselling Interview

Arrears counselling is seen as a socially desirable alternative to litigation proceedings. When problems do occur, it is a customer-focused approach to help borrowers with payment difficulties and is perceived as offering assistance when it is most required.

Representatives will: -

• establish personal contact with the borrower
• work with the borrower to develop a realistic and acceptable solution
• explore ways of maximising income, advise on priority commitments and how to budget accordingly
• provide you with a full financial profile, which can be used with the new particulars of claim, if necessary
• provide information regarding the condition of the security property, with a photograph if relevant
• advise where the property is found to be tenanted or abandoned and if required, seek to establish the borrower's whereabouts
• obtain a signed form of settlement in accordance with your arrears strategy
• have a totally flexible approach to working hours

Most borrowers respond positively to a counselling session, personal contact significantly reduces the need for litigation and ultimate possession.

.: Assisted Voluntary Sale

There will be some cases where it is recognised that the borrower is unable to maintain the monthly mortgage payment and the Lender may consider consenting to a sale where it is known that the sale proceeds will be insufficient to redeem the total debt.

The Assisted Voluntary Sale Scheme enables borrowers to be involved and consulted in the marketing of the property right up until the point of sale. It avoids the need for the costly and distressing course of legal action and ultimately gains co-operation from the borrower when the loss on mortgage has to be addressed.

Lenders may wish to offer incentives to the borrower to encourage them to participate in the scheme. We see this as a positive move forward in the negative equity market and like all our services is tailored to meet your requirements.

.: Pre-Eviction Interview

Where eviction is unavoidable our Representatives will: -

• ascertain who is at the property
• advise of any special action to be taken e.g. animals, tenants, environmental health issues, insecure entries
• arrange for the borrowers to sign a personal covenant and make an arrangement to limit the loss, if appropriate
• ascertain the borrowers new address
• deliver an open letter stating the specific date and time of possession in the event of no contact being made with the occupants

.: Finacial Counselling for the Bereaved

When a party to the mortgage dies, their next of kin can be left with extensive financial matters to resolve. This is often a confusing and complicated process at a time when the borrower feels least able to cope with it. At this time, payments can be overlooked, matters can drift on indefinitely in the hands of Solicitors and all the time the mortgage account falls further into arrears. Even if there is an endowment policy, the claims process can be slow and there may be insufficient to redeem the account completely.

The purpose of this interview is to offer straightforward practical advice with the backup of Counselling bereavement organisations if more in-depth comfort and support is required.

Representatives will:-

• advise of the procedure for Grant of Probate/Letters of Administration
• liaise with Solicitors
• provide letters for the borrower to contact interested parties and the necessary authorities
• advise how to increase or maximise income and which Benefit Agency Benefits should be applied for
• ascertain if the borrower has sufficient funds to maintain the mortgage and provide a full report to the lender
• put the borrower in touch with organisations offering support for the grief element of the bereavement

The benefit to the Lender is the control of the mortgage at an early stage thus avoiding build up of arrears at a sensitive time.

.:Additional Services

.:Property Visits and Inspections

These can vary from a straightforward ‘drive by’ to check on occupancy and assess the external condition of a property, to a more detailed inspection.

.:Individual Voluntary Arrangement (IVA) Counselling

Counselling at the customer’s home with a view to preparing a report for a licensed insolvency practitioner or lender. Income and expenditure are discussed along with an assessment of the property and lifestyle, in order to agree a sustainable agreement.

.:Rent Arrears Counselling

A professional counselling service is available to registered social and private landlords to speak to tenants with a view to recovering rent arrears.

.:Process Serving

We deliver documents and notices that need to be handed over to a specific person.

An ethical approach...