Roslynn Doherty, recent Business All-Star accredited Thought Leader in Mortgage Restructuring and TRIBE member shares her story of starting her own Irish debt management company, The Financial Foundation which specialises in Mortgage Arrears and Repossession Orders.
Since the financial crash, thousands of people have been struggling and Roslynn highlights how she can help people struggling with mortgage distress to become stress-free.
“I started my working life in customer service roles for years initially. I learned what customers expect. After that, I went into the world of banking and learned all the background to banking, what goes on behind the scenes, and all the paperwork that comes with it. One thing I learned massively during my role in banking was mortgages and arrears. In 2010, I was made redundant, I thought I could do this and start my own business. Little did I realise the amount of work that was needed to set up my own business, it took me about 18 months, which I got in 2016. I opened the doors to the Financial Foundation and haven’t looked back.”
Roslynn Doherty was born and raised in Drogheda and is the founder of an Irish debt management company, The Financial Foundation, specialising in Mortgage Arrears and Repossession Orders.
“I help people in mortgage distress to engage with their lenders. More than ten years after the horrendous financial crash, there are still thousands upon thousands of people suffering,” says Roslynn.
“It’s a savage hangover from the economic crash, a terrible legacy. Ordinary people who did nothing wrong are being driven to the brink of despair and it is simply not being tackled as it should be.”
“We’re years on from the crash and for many people, it’s as if time has stood still and they feel despondent, trapped, and hopeless. They have no peace of mind and the human toll is incredibly serious.”
“I liken it to the famous iconic photo in Tiananmen Square of the man standing in front of the steamroller.”
I asked Roslynn to talk through her services. “I speak to people from all walks of life every day from highly paid professionals to single-parent families, all trying to keep their homes and I love it, I am obsessed with mortgages arrears.”
“I get some people coming in here with their post from over ten years that they are too afraid to open.”
“The fear that people are living in, they are afraid of the postman coming, to open letters, they are hiding them from partners, it is horrendous. Generally, when people come into me or talk to me over the phone I tell them this ‘Don’t be afraid, you leave this to me, I will fix it, let me do the worrying for you.”
I asked Roslynn is this a responsibility that she enjoys? “Over the years I have toughened up in the sense that I’m not carrying peoples’ problems every evening as before it used to affect me badly.”
But now I know that I am going to fix this for my clients and turn this around. I have seen people physically, mentally, and emotionally changing in the space of six to eight weeks because they know they have handed this problem for me to solve rather than themselves.
“It’s the most rewarding job you could ever have, to look someone in the eye and tell them their eight years of torture is over. It’s just unreal. My customers have become such good friends with me now, they come in and pour out all their problems, through marriage problems, illnesses, bereavements, where one person has left the home and the other is there to manage it all. I like to be there for them like a good friend would.”
Roslynn commends the importance of having a support network when being self-employed.
“The current pandemic has increased the need for a support network as self-employed in Ireland. I have used my time wisely and reached out to networking groups both within my locality and nationally.”
“As I said before when I get home, I just switch off the phone and have some quiet time which people around me kindly respect, because otherwise I would just be completely invested in work and that’s not good for anyone.”
There have been many highlights for Roslynn and her self made company to date. “Since opening in 2016, I have kept hundreds of people in their homes through negotiating long-term arrangements with their mortgage providers.”
“I have also removed repossession orders from homes that had already been granted and which hung like a noose over clients’ heads for years. I have recently been accredited with a Business All-Star from the All-Ireland Business Foundation and have also been acknowledged as a Thought Leader in Mortgage Restructuring. To have received two accolades has certainly been one of my greatest achievements.”
I asked Roslynn what her plans are for 2021.“There are many plans on the horizon to expand the team which will ultimately help more families stay in their homes. I really feel that we are heading into a harsh and life-changing period for many people again as our economy has been hammered by COVID-19.”
“People are going to suffer all over again and I would be so happy if people knew there is help available for them.”
“In my four years of operation not one client of mine has lost his or her home. People have come to me at the eleventh hour when a repossession order has been actually granted and I have been able to get that lifted and brokered an agreement. We all know that talking is the best way out of a problem – it’s in everyone’s interest. We need long sustainable agreement.”
I asked the entrepreneur to share a life motto with our readers.
“Enjoy what you do, and you will never work a day in your life.”
Lastly, I asked Roslynn to share some words of wisdom for those who may want to start their own company.
“Go for it! If you fail, you will learn from it, but you won’t spend the rest of your life wondering, ‘What if?’”
To learn more about The Financial Foundation, visit their All-Star showcase page here.
The process to select the next group of Business All-Star accredited companies has begun and further information is available at businessallstars.ie.