Payplan’s Assisted Voluntary Sale Is Ethical Repossession Alternative

Payplan and movewithus Announce Partnership to Offer Ethical Alternative to Repossession with Assisted Voluntary Sale

Free debt solutions service, Payplan, is partnering property specialist, movewithus, to provide struggling homeowners with an alternative to repossession and a realistic route to a debt-free future.

Payplan will begin offering Assisted Voluntary Sale (AVS) as an additional option when advising its over-indebted clients. The service offers an ethical and efficient property sale that is fully managed by experienced debt advisers and estate agents, ensuring homeowners achieve true market value for their properties while also resolving their underlying debt problems.

AVS Designed to Avoid Drawn-out Property Sales

The service is designed to avoid the pit-falls of a drawn-out property sale due to unrealistic valuations and unmotivated selling agents. Once the house sale has completed, Payplan will provide support to ensure remaining debts are dealt with through full and final settlements or other debt solutions.

Peter Gammon, movewithus asset management director, said:

“In today’s market, lenders are looking for alternatives to the usual cycle of possession, sale, shortfall and recovery. Through our AVS schemes, we offer a totally independent and ‘arms length’ management service. We accurately value and proactively market the borrower’s property, avoiding possession proceedings and ensuring the lender can limit their losses. We’re delighted to be working with Payplan to offer this proven service.”

Lenders Must ‘Exhaust’ All Options of Support

Figures from the Financial Services Authority at the end of last year showed a 71 per cent increase in repossessions compared to 2007. These figures prompted Gordon Brown to remind lenders that they must exhaust all means of offering support before applying to the Courts for possession.

Peter Gammon commented:

“Through the Assisted Voluntary Sale scheme, Payplan customers can avoid repossession, maintain control of their property and move towards resolving their debt problems. Our accurate pricing and robust marketing methods avoid the need for distressed selling through auction channels, benefiting both parties by ensuring maximum value is attained.”

John Fairhurst, managing director at Payplan agreed, adding:

“In recent months, Payplan has seen a significant rise in the number of homeowners facing mortgage arrears who are in trouble because they also have high levels of unsecured debt. People in this situation are increasingly seeing the sale of their house as a quick and attractive route to a debt-free future. In response to this and to the growing popularity but largely discredited buy and rent back schemes, we are very pleased to be working with movewithus on this new initiative.”

Notes To Editors

Notes to editors

About Payplan

Payplan is a free debt solutions service which provides free, ethical and immediate debt help to over 100,000 people every year, working closely with organisations in the field of money advice and consumer and employee welfare.

Freephone 0800 280 2816 six days a week to speak with an experienced debt adviser. Lines are open 8am to 9pm Monday to Friday and 9am to 3pm on Saturdays. Alternatively, submit your debt problem online for a response within 24 hours.

About movewithus

movewithus is a property specialist, providing a number of property sale and management services to lenders and home builders including Assisted Voluntary Sale (Prepossession), Repossession management, LPA Receivership and Lettings management.

For further comment, please contact James Nania on 0870 423 9397 or email james.nania@movewithus.co.uk

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