Bell & Company Newsletter - June 2021

VOL. 1 | MAY 2021 www.bellcomp.co.uk

DEBT STRATEGISTS

NEWSLETTER - JUNE 2021

Despite the reopening of UK hospitality over the past month, we at Bell & Company have been dealing with an increasing number of enquiries, especially in hospitality, entertainment, retail and leisure .

If you aren't familiar with our work, we have been working tirelessly on behalf of businesses and individuals struggling with debt over the past decade.

An Introduction from our Consultant, We encourage everyone who is struggling

Liam

with debt, especially SMEs, to read this and pass it on to anyone you know who needs

In this edition:

help.

How we help our clients

Our experienced and diverse team is always

Introduction to the team

on hand to deal with any financial issues you

Recent settlements

may face. If you need to talk, call us today.

Blog of the month Our free webinar series

Enjoy this month's edition and good luck.

The latest on loan sales Become an introducer

Terry bell

JUNE 2021

ISSUE 1 - MAY 2021

www.bellcomp.co.uk

DEBT STRATEGISTS

How we help our clients: A Recent Settlement In this case, our client had taken a business loan from a the loan was that he

secured EU funding.

The funding fell through but his co-director

large UK lender,

one of the conditions of

fraudulently pushed the Personal Guarantee

through

anyway. Failure to pay the PG could have had serious consequences in terms of his future as a director.

He was surprised to find he was being pursued for the full

£100,000

loan, despite not agreeing to the

personal guarantee. The creditor was being quite aggressive and the entire ordeal was extremely stressful for the client.

We argued that the PG had been invalidated due to the lack of EU funding, getting the creditor to agree to a total write-off of the debt.

Ultimately the client was saved the entire

£100,000,

gained peace of mind and was able to move on

with his life.

You can read more about how we have helped past clients here.

Loan Sales: Could You Be At Risk?

Funding Circle, the 'alternative lending' platform has made headlines recently for selling 1900 Personally Guaranteed Loans to a Azzurro Associates, a large debt collection firm. You can read more about this here.

This has sparked concerns about the potential that individuals and businesses could fall victim to aggressive repossession techniques. This was a common case after the 2008 crash and continues to be a serious issue.

Many of the recipients of these loans may not even know that their debt has been sold until the first correspondence from collection agencies.

As the economy has reopened and legal protections for businesses and debtors have been removed, we are seeing more and more instances where owners of SMEs are facing legal action such as repossessions and Bankruptcies.

In the shadow of debt built up over the past 12 months, it is likely the issue of loan sales will only become worse as lenders seek to recover losses.

JUNE 2021

Our Marketing Manager Walks You Through Our Belfast Office

www.bellcomp.co.uk Blog of The Month: Commercial Leases

By Terry Bell As the end of the ban on

DEBT STRATEGISTS This has been evidenced

A CVA is a form of

by the struggles of large

insolvency and can result in

businesses such as

the triggering of a Personal

Debenhams and House of

Guarantee, especially in

Fraser who struggled to stay

relation to commercial

on top of rent payments.

leases.

commercial evictions rapidly approaches (30th June 2021)

'The C word' - CVA

The full economic effects of the pandemic are only

many businesses are likely to

beginning to be felt and

fall victim to the billions of

Multiple recent examples

rent arrears that have built

have seen large businesses

there can be no doubt that

up since last March.

entering into a Company

commercial leases will

Voluntary Arrangement

become a major issue for

(CVA) and moving their

UK businesses.

Those most at risk are business owners who have

business fully online to

personally signed a

avoid paying landlords

We discussed the issues

guarantee on a lease.

large sums of money.

with commercial leases in a

Business owners already

SMEs often don’t have the

struggling with rent arrears

option of a CVA because of

are now contending with

the insistence of landlords

reduced capacity and are

demanding Personal

left playing financial catch-

Guarantees to support any

up.

lease.

recent webinar, watch it here.

You can read the full version of this blog on our website.

FREE WEBINAR: IS YOUR BUSINESS MODEL VIABLE? In our most recent webinar, we explore the viability of existing business models in today's world and give practical advice for business owners on how they can adapt to changes in the economy. Click to the right to watch.

Recommended webinars:

Statutory Demands - Watch Here Dispute Resolution - Watch Here JUNE 2021

www.bellcomp.co.uk THE BUSINESS PANDEMIC

DEBT STRATEGISTS BECOME AN INTRODUCER Do you have clients who are experiencing financial difficulty?

Many of our clients' first point of contact is usually their Solicitor, Accountant or Financial Advisor. These professionals specialise in specific fields but, traversing the murky waters of debt resolution is a niche field. A field in which Bell & Company are experts.

If you know anyone who is struggling in any facet of debt,

Our latest free ebook, The Business Pandemic features over 50 pages filled with

we will be able to help them and we will pay you a lucrative upfront fee for each client who appoints our services.

expert knowledge on SME financial issues. If you own a

All we need is:

business you can't afford not

Name,

to download it. Click the

Telephone number,

image above to download

Email address,

your copy.

REAL TALK PODCAST

Their permission to contact them

THANKS FOR READING! That's it for this newsletter, we hope you enjoyed it and hope to see you back here in July 2021.

If you have any questions about the topics discussed in this newsletter or would like to discuss your finances, do not hesitate to contact us. You can find our details below.

Want to Get in Contact With Us? Visit our site:

www.bellcomp.co.uk

Or find us at:

Scottish Provident

In our podcast series, Terry

Call us:

chats with those 'in the

Building,

0330 159 5820

Donegall Square West,

on the issues of the day.

Email Us:

Belfast,

Click above to listen to our

hello@bellcomp.co.uk

BT1 6JH

know' and gets their views

latest episode.

JUNE 2021