How Tailored Financial Reconstruction™ can help people get out of debt
By Mr Bankruptcy
27th March 2024
Many people find themselves facing unmanageable debt every year, but the reasons for getting into that position can be as varied and numerous as the people who come to us for help.
So, when we are approached by a new client, the first step is for one of our Client Directors to understand fully the scope of the problem and all aspects of the client’s circumstances. We do this by arranging a consultation as the key first step of a process we’ve developed to help them navigate a route through their problems and to a better future.
Tailoring solutions for individual cases
During this first meeting we initiate “Tailored Financial Reconstruction ™”. Financial reconstruction is basically a restructuring and renewal of someone’s financial situation in order to avoid defaulting on their debts or going into bankruptcy.
Companies do it, even nations do it, renegotiating debt, reorganising assets, looking for loans and tightening up on public spending. Financial reconstruction also works for individuals, and this is at the heart of our approach.
A personalised service.
Tailored Financial Reconstruction ™ is necessarily a bespoke approach, so we can only take on a maximum of eight new clients a month to maintain our service standards, though we’d love to be able to help more.
To qualify for a place, a new client must be resident in England or Wales, and either runs a Limited Company, or is a private individual who is a homeowner and has personal unsecured debts of £50,000 or more (for example: directors personal guarantees, overdrawn directors loan accounts, personal loans, credit cards, overdrafts, etc).
What we then do is understand the journey that has brought the new client to the point in their lives and financial situation where they have to contact us. As I said, this journey is different in every case, so it’s important for us to do the listening at this stage, and refrain from making assumptions and trying to make a predetermined solution fit.
Following on from this, we perform a detailed financial assessment of the client’s current position, discussing their own plans and objectives.
This is critical for a successful outcome because it’s all too easy early on to plump straight for a short-term situation without taking everything into account. A number of solutions may look suitable at this stage but some of them may have unforeseen and unwanted consequences which we want to avoid.
Only when we are in possession of all the relevant facts can we start giving our client longer-term advice, based on market-wide options.
Education is key to agency
We describe in detail every solution open to the client, the mechanics of how they work, and the pros and cons of applying them in the client’s very specific circumstances.
By using our trademarked approach, we aim to put the client in the best, most informed position where they can then make an intelligent decision about the best way forward.
We believe it’s critical for our clients to regain their agency in order to arrive at a solution that they can put into action for themselves and stick to. We make our recommendations, based on experience and our knowledge of the client’s situation but, ultimately, it’s always their choice.
Putting a Tailored Financial Reconstruction™ plan into action
Once we’ve identified a way forward, we take the client through the process, supporting them every step of the way either directly, through one of our in-house solutions, or by making use of one of our trusted partners in debt resolution.
For the most complex cases, more than one solution might be needed. Before engaging in the process, during the consultation, we will already have ensured that the client is fully aware of our proposed solution, how it works and the likely results when they apply it to their own unique circumstances.
We give advice and support on all options of a potential financial reconstruction plan, which can include:
- Personal guarantees
- Debt management plans
- Negotiated full and final settlements with creditors
- Personal bankruptcy if necessary
- Individual Voluntary Arrangements (IVAs) support
- Company liquidations and dissolutions support
- Company administrations, CVAs etc support
Whichever combination of solutions is constructed, we will support our client every step of the way.
James Rosa Associates
James Rosa associates is a firm of debt advisors and debt adjustors. Well-known for our supportive and friendly approach when dealing with the most sensitive of financial problems, we offer a full range of advice and professional services to business owners, directors and individuals facing unmanageable debt or are involved in a civil or commercial dispute.
We are authorised and regulated by the Financial Conduct Authority (FRN665061) to work with clients to produce bespoke solutions to fit their specific circumstances. Our general services include:
Do you qualify for a free Tailored Financial Reconstruction™ consultation?
If you qualify and want to deal with an unmanageable debt, Contact James Rosa Associates, ring 0845 6807217 or email enquiries@jamesrosa.co.uk and one of our Client Directors will arrange that life-changing first consultation.
Please be advised that all views expressed in these posts are those of the author and not of James Rosa Associates ltd.