BAD CREDIT - CCJ - Default - Arrears - Adverse - Cash flow issues - Pending bankruptcy - IVA - Company insolvency - Partnership IVA - Sole trader IVACommercial property mortgage light industrial unit remortgageMr Smith was in a lot of financial problems. He had piles of brown envelopes turning up on his doorstep each morning from virtually every county court in the country. His local country court knew him well. Mr smith was a builder and he was owed a lot of money from 3 different companies he had done work for. It got to the stage where one of his sub contractors was about to bankrupt him. His house was in joint names with his wife and he didn’t want to go bankrupt or do an IVA. He was in trouble with his bank and didn’t want to use any of his cards for fear that they would be taken from him and cut up. Mr Smith had no fewer than 11 credit cards he had bust up all their limits. His bt phone in his office was about to be cut off.
He did own his industrial unit out right, but he didn’t think he could mortgage it because of all of his bad credit. He managed to find a commercial property lender that would mortgage his commercial property industrial unit up to 90% with no lenders fees, no brokers fees, no valuation fees, no legal fees. He did need his sole trader IVA or bankruptcy.
He was able to pay some of his bills, clear the mortgage arrears on his own house and sort out all his problems without his wife knowing what he had done and was able to save face. His mortgage payments were interest only and completely tax deductible and were much lower than his other borrowing commitments he was try to service. He was even able to paid his VAT bill to the Her majesties customs and excise and pay the inland revenue the money he owed them from 3 years ago. He also use the money from his commercial property re mortgage to get a lawyer to get the people that owed him money so it wasn’t him that was getting all the brown envelopes from the country court for once. He got his finances and his business back on track. BAD CREDIT - CCJ - Default - Arrears - Adverse - Cash flow issues - Pending bankruptcy - IVA - Company insolvency - Partnership IVA - Sole trader IVA |
The credit crunch has had a big impact of property in the UK, France, Spain, Germany, Scotland, Ireland and of course the USA |
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