Looking to “do a deal” with Pepper or any other lender

I have regular consultations with people who have debt difficulties.

Much of this debt is an overhang or legacy from the Celtic Tiger years leading up to the property crash in 2008. The debt has not gone away in many cases.

But the person sitting in front of me in my office is looking to “get a deal” from the lender.

My advice in all these cases is predictable and simply founded on common sense and putting myself in the shoes of Pepper or whoever the lender is.

Is doing a deal in the best interest of the lender? Or is the lender not motivated to do a deal because their debt is well covered by the value of the underlying, charged asset?

If the borrower is a completely busted flush from a financial perspective, then a deal is more likely.

If the borrower has sufficient assets to cover the outstanding balance, then it would be irrational for Pepper or any other lender to “do a deal”.

It’s just common sense, isn’t it?