View Poll Results: I consider the demands to be

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  • totally above board

    8 13.56%
  • questionable

    15 25.42%
  • a scam

    36 61.02%
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  1. #1

    Still gathering requirements...


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    Default Montpelier & Newquay 10% loan repayment demands

    Keywords: Montpelier Rathowen Newquay Professional Fernleigh Ronsard Watkin Gittins Corrance Hazelmere

    If you have received a letter from the Trustees, demanding repayment of 10% of your loans, follow this thread.

    Think very carefully before repaying.

    More info to come...

  2. #2

    Nervous Newbie


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    Quote Originally Posted by Loan Ranger View Post
    Keywords: Montpelier Rathowen Newquay Professional Fernleigh Ronsard Watkin Gittins Corrance Hazelmere

    If you have received a letter from the Trustees, demanding repayment of 10% of your loans, follow this thread.

    Think very carefully before repaying.

    More info to come...


    What happen to the 10% repaid?

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    Still gathering requirements...


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    Quote Originally Posted by jimys View Post
    What happen to the 10% repaid?
    Supposedly they're looking at ways of redistributing it in a tax efficient way but they get pretty shirty if you question them.

    They want over 40k of me.

  4. #4

    TripleIronDad

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    Hello WG

    Care to comment?

  5. #5

    More time posting than coding


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    I was with another, now non-existent provider, but concerned the trustees of the scheme may do the same. What's the legal position about repayment? They have no idea how to contact me now, which may mean I never receive any communication from them. Where would this leave me if they requested repayment to an old address - what could unfold without my knowledge?

    The sales line was that the trustees are legally bound to act in the best interests of the loan recipients. On what basis are they asking for a loan repayment?
    Last edited by meanttobeworking; 7th April 2016 at 14:34. Reason: grammar

  6. #6

    Nervous Newbie


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    Quote Originally Posted by stonehenge View Post
    Supposedly they're looking at ways of redistributing it in a tax efficient way but they get pretty shirty if you question them.

    They want over 40k of me.
    We need this question to be clarified in written. All who is holding the trust fund? What person?i believe we need specialist person to check this.. Not sure how

  7. #7

    TripleIronDad

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    Quote Originally Posted by meanttobeworking View Post
    I was with another, now non-existent provider, but concerned the trustees of the scheme may do the same. What's the legal position about repayment? They have no idea how to contact me now, which may mean I never receive any communication from them. Where would this leave me if they requested repayment to an old address - what could unfold without my knowledge?

    The sales line was that the trustees are legally bound to act in the best interests of the loan recipients. On what basis are they asking for a loan repayment?
    On the surface, you are safe.

    What year(s) are you in? Have HMRC been in touch?

  8. #8

    More time posting than coding


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    Quote Originally Posted by BrilloPad View Post
    On the surface, you are safe.

    What year(s) are you in? Have HMRC been in touch?
    I was in 09/10 for a few months and I settled under the CLSO. Don't call me names

  9. #9

    TripleIronDad

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    Quote Originally Posted by meanttobeworking View Post
    I was in 09/10 for a few months and I settled under the CLSO. Don't call me names


    You in in the clear. Sleep easy.....

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    Quote Originally Posted by BrilloPad View Post


    You in in the clear. Sleep easy.....
    I think the question was alluding to the point that even though settlement has been made with HMRC, the loan from the trust is still outstanding and could be recalled at any time (subject to satisfying the trustees responsibility to the trust beneficiaries).

    So you would be paying the tax to HMRC and repaying the loan to the trust. Its a nightmare scenario really especially to those who have hundreds of thousands of pounds worth of loans.

    HMRC do not do anything in relation to the loans if you settle (which would be far too efficient and tidy for them). They still remain a legal agreement and a real debt.

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