Ray McCarthy
- Title: Debt Mediator
- Location: Roscrea
- Country: Ireland
- Email:aegiscollections@gmail.com
- Status:
- Available for Businss
Summary Profile:
An experienced, conscientious and accomplished financial institution manager, with over 32 years experience in the banking and credit union sectors. Currently managing own pre-legal debt recovery/debt negotiation business and recently qualified as an Accredited Mediator with the Mediation Institute of Ireland.
Possesses a natural talent for business development and an excellent track record in leadership skills, in both commercial and community sectors.
Portfolio
My most recent portfolio relates to my debt mediation work on behalf of clients throughout Ireland. I have listed some sample case studies below
Case Study 1
John was referred to me by a solicitor. He had bought 30 acres of land at the height of the boom and owes c.€400k to his bank. He has since lost his job and cannot meet any payments to the bank. His bank have a legal charge over the 30 acres and a further 80 acres he gave them as security.
I provided the bank with the current financial position and arranged a meeting with them. At the meeting, the bank were insistent that the full 110 acres would be sold – I was pushing for the sale of 40 acres – the 30 he had bought and another 10 acres – all in the one lot. Eventually, the bank agreed to this – the land is on the market and the bank have stopped contacting my client. He continues to farm the 110 acres
Case Study 2
Mary is in a very good job, earning €100k per annum. She is an unmarried mother who bought a house at the height of the boom. She currently owes €400k on her mortgage, but the house is only worth €200k. She owed €25k on three credit cards arising from a period she was not working. She came to me as she didn’t want to or know how to deal with all the financial institutions who were ringing her.
I acted on her behalf in all dealings. I negotiated with one credit card company who accepted €1700 on a debt of €7500 in full and final settlement. The other two credit card companies have “backed off” and are not contacting her anymore. I am currently trying to get agreement from the mortgage provider to keep the mortgage on interest – only. I am also looking into Insolvency for Mary, which would have the effect of bringing her mortgage back to a realistic level of €200k after 5 years.
Case Study 3
James was referred to me as he was under significant pressure from his local credit union. He bought a van with the help of a credit union loan – borrowed €15,000. After a number of months, the engine went in the van and he had to sell it for €2,000. He struggled to keep payments made but found that he couldn’t do this when he was in receipt of Social Welfare of €140pw.
I reviewed his position and agreed with the credit union that he’d pay €20pw in the short-term. As he has no assets, he will be availing of a DRN – Debt Relief Notice whereby his debts under €20,000 will be written off, subject to a 3 year supervision period. After three years, James can get back on his feet again.
Career History
Director:Aegis Collections & Legal Ltd - 2011-date
Managing a Limerick based pre-legal debt collections business, dealing with multiple companies across a broad commercial base. Direct contact with client debtors, setting up repayment plans. Other services provided - Mediation and debt negotiation on behalf of individuals and SME’s in financial difficulty.
One of three mediators on a panel with a Galway based company – Helplink – the only Irish company providing online mediation and counselling services.
CEO: Credit Union - 1996-2010
Responsibility for the overall development of the Credit Union within the community and nationally within the movement, reporting to a voluntary Board of Directors. During this period, the credit union achieved significant growth, and achieved significant elevation of its profile within the community and movement.
Increased the credit unions asset size by €50m. Increased the loan book by €32m. Increased savings by €37m. Increased membership by 7,500. Became one of the first credit unions in Ireland to achieve the Qmark award. Became one of the first credit unions in Ireland to become a member of the Irish Credit Bureau. Held the post of Chairman of the Progress User Group for 8 years – representing c.115 credit unions.
Assistant Manager: AIB Bank - 1978-1996
Worked in various locations within AIB, quickly progressing through the ranks to assistant manager. I was assistant manager in two locations in Donegal. Had responsibility for office administration in one branch and commercial lending in the other, working closely with the Commercial Banking section of AIB. Achievements included:- Successfully managed a staff of 23. Managed a sizeable loan portfolio. Business development was a strong feature of my role in both branches.
Education & Professional Training
Accredited Mediator: The MII - 2012
Diploma in Credit Union Studies: University College, Cork - 1998/99
Numerous internal courses completed over the years – Customer Service, Health & Safety, Anti-Moneylaundering, Lending, Credit Control.
IMI Supervisory Management Certificate- 1990
Hobbies & Interests
Chairman of Dromakeenan National School Board of Management - 2000-2012
Board member of Colaiste Phobal Roscrea - 2006-date
Treasurer of Dean Maxwell Welfare Home - 2006-date
Past President of Roscrea Chamber of Commerce - 2005-2006
Past Board member of St. Annes Service - 2006-2009 (for clients with intellectual disabilities)
Past Chairman of Progress User group - 2000-2008 (representing c.115 credit unions)
Member of Roscrea Golf Club. Member and PRO of Roscrea Ramblers hill-walking club.
References
Excellent Corporate and Personal References can be provided upon request.