A unique perspective for lenders

The Madgwicks Financial Litigation Team advises commercial and private lenders in mortgage recovery and security enforcement. We are also able to assist with the recovery of unsecured loans as well as commercial loans including debtor finance and equipment finance.

Given our experience also representing borrowers and guarantors (where there is no conflict), we are uniquely positioned to document and serve default notices, issue court proceedings and recover funds or property. Our team is very familiar with the ‘typical’ defences and arguments run by borrowers and guarantors.

For those who have been served default notices, Madgwicks can advise you on your best course of action to reduce the risk of having your goods repossessed, and even the possibility of personal bankruptcy or administration.

It is important that borrowers (and guarantors) take immediate action to avoid court proceedings or even having exposure to having to pay their whole debt – not just the arrears. Many lenders are lenient on those experiencing financial hardship. After all, they just want you to be able to pay the loan back – they’re not in the business of selling off assets.

Lending and borrowing can be risky business for all involved. Whether you are the lender, borrower or guarantor, the time to act is now. You’ll have the best chance of recovery or avoiding default notices. Contact us today and we will provide you with a recommended course of action.

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