Portfolio recovery can be a very frustrating process for the debt collector as well as for the debtor. There are many life circumstances that may result in an individual not being able to pay their debts. From a miscalculated business deal, payments of hospital bills using business capital, to the loss of employment, anyone can be in this unfortunate situation. While it may be tempting to avoid contact with debt collectors, Paul Mackenzie Portfolio recovery experience indicates that you use a different approach to make your life bearable. The best step to take when you realize that you will not be able to repay your debt is to approach the office of Paul Mackenzie because they can help you out. Just as they are in the practice of helping businesses to recover their money, they also help debtors pay off their debts in these simple steps.

Analyze your income

The reason they want to find out where you get you money from is so that they can add up how much it is. Some people have no knowledge of financial management and though they earn a considerable amount of money they are never able to account for it. After analyzing your income, Paul Mackenzie Portfolio recovery team will advise you on the lifestyle changes you need to make. They may advice on moving houses to cut down on utilities, substitutes to buy to save on expenses and even the need to find and extra source of income.

Negotiate with creditors on your behalf

Most creditors are rigid on changing the terms of a credit agreement and it may require a third party intervention for them to consider it. As your recovery partner, Paul Mackenzie portfolio experts will listen to the plans you have on recovery and if it is reasonable, present them to the creditors. Reviewing the agreement terms means that the debt will now be recovered on the terms of the debtor. This is beneficial because the amount paid, frequency of serving recovery and duration over which it will be recovered are all set in agreement with the debtor.

Make a debt recovery plan

Based on the financial analysis made by the debt recovery professionals, it is now time to draw up a recovery plan. The aim of this plan is to help the creditor to recover their money in a pace that will be practical and fair to their business. This means that both parties must agree to the terms of the recovery plan. The involvement of Paul Mackenzie portfolio experts in your personal financial struggles means that you will receive free financial management tips that you never thought of. It is a fact that people with financial guidance manage to do more with their income than those who don’t. Do not be surprised then that within a few years of seeking the help of expert debt collectors you manage to repay all your debt.

Paul Mackenzie of PHM Consultancy
07496191101