Bankrupt clients need not lose their property

They now provide a facility to negotiate with trustees

and their solicitors on behalf of bankrupt clients who are facing the possession of their property in order that the trustee may settle their outstanding debts. Successful negotiation of the amount required to settle or annul, often at

a discount favourable to the client, is followed by a remortgage to achieve settlement.

The service has been developed in consultation with trustees in bankruptcy, insolvency practitioners and lawyers, who provide on site technical support to Capital Link.

Tony Hagerty, principal of Capital Link, said β€œ We have worked hard over the last twelve months to put together a service which allows bankrupt individuals to settle outstanding debts through active negotiation with their trustees. We have taken time to perfect a service to meet the requirements of this currently niche but rapidly expanding sector and it is now ready to be launched to the intermediary market.”

He added β€œIt is important that brokers seek advice from experts in the field, who are used to dealing with bankruptcy matters. Whilst the law regarding the settlement of these debts cannot be sidestepped, resolution of the issues it raises need not be onerous or over complicated. It is vital that brokers work with a company that really understands not only the commercial, but also the legal elements of the transaction. We are a firm that can achieve maximum benefit to the client with minimum complication to the intermediary.β€œ