Debt Manager
"Debt Manager" is FGS's debt restructuring service for individual investors who are struggling with loan repayments, the threat of foreclosure and even bankruptcy.
The service is tailored to individuals with significant debt exposure primarily on rental and other property investments (other than their principle private residence) in Ireland and abroad.
The service is geared towards individuals that have significant debt exposure on property investment other than their family home rather than individuals who have consumer debt issues.
"Debt Manager" gives you immediate access to our experienced multi-disciplinary team of personal insolvency professionals. We will mediate between you and your creditors, particularly financial institutions, to find a workable solution for all.
At FGS our primary focus is on mediation, reaching out-of-court resolutions with creditors and putting you back in control of your debt.
Brokering a solution
Our team starts by conducting a full financial review of your current situation. This includes the compilation of a statement of affairs and modelling of repayment schedules. We then focus on brokering a solution through options such as:
- An informal scheme of arrangement - you and your creditors enter into a voluntary arrangement to assist you in restructuring or reducing the amount owed and the repayment period.. The scheme may be dependent on the immediate disposal of certain property or other assets.
- Secured debt – for clients with secured liabilities, we negotiate on their behalf for either a moratorium, an extension of the loan term or disposal of the secured asset in satisfaction of the debt . We also ensure that any payments are prioritised in any scheme of arrangement.
- A formal scheme of arrangement – this is a court-approved scheme that is enforced on all creditors, once 60% of those creditors agree. This is suitable where there is significant debt across a number of creditors. The scheme may be dependent on the immediate disposal of certain property or other assets.
Act early to solve debt issues
One of the biggest issues in debt management is failing to act quickly enough to resolve the problem. So our "Debt Manager" initiative assists you to act early in devising a solution and getting a proposal to creditors for consideration as soon as possible.
Call us today on +353 (0) 1 418 2000 or mail: debtmanager@fgspartnership.com for more information about "Debt Manager" or to arrange a free initial consultation.
Case studies
Find out about typical client cases that can be resolved with Debt Manager - case studies.
Related links
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