PGUK have the processes and experience to assess your financial position and advise you at what level settlement proposals are likely to be accepted by creditors.
This is based on over 20 years’ experience of dealing with Corporate and Personal insolvency gained by working in some of the leading UK accounting and insolvency practices.
When a client’s income and expenditure and assets and liabilities are established the level of a sensible settlement proposal can be calculated. This involves understanding what could be recovered by your creditor through formal legal proceedings from bankruptcy through to property charges and forced sale orders.
Therefore, once we have completed the initial assessment and documented our findings in a full proposal back to you, we can be sure that we can indeed help. So much so that we are prepared to guarantee it.
If we do not achieve a financial settlement which is less than the total demanded by your creditor (including our fee) we will return the fees paid in full. This gives clients peace of mind that they are not going to have to pay the full amount demanded by the creditor and our fees if they choose to use our service.
If we feel that you are in a position to repay the amount demanded in full, we will tell you so and our guarantee will not be required. After that it is up to you whether you want to pay for our service to manage the process to ensure you don’t lose control or handle things yourself. However, be aware that losing control and entering into formal proceedings with your creditor may end up costing you more in costs and could result in the sale of key assets below normal market values.
“When I first met with PGUK I was sceptical that they could help me. My home was fully paid off and worth much more than the amount demanded by the Bank. I therefore assumed I would have to repay the full amount demanded under the PG.
However, PGUK were confident that when taking into account my other creditors and the time and costs involved in the Bank taking formal action against me as long as I offered a sensible lump sum offer, the Bank would take it seriously. I decided on the basis of the fee guarantee that in reality I had nothing to lose because if they could not negotiate something better I would be refunded my fees in full. PGUK did exactly what they said they would and by presenting the financial case properly to the Bank I was able to achieve a settlement which even with their fees represented a saving on the total amount demanded.
The Bank was satisfied with a quick and certain recovery and I did not have the hassle of trying to sort this out myself.”
Managing Director – Steel fabrications Co