Montpelier & Newquay 10% loan repayment demands

[webberg]

Hi Graham,

Is that offer still open going forwards to people who join that are effected, if the legal consultation goes ahead?

Thanks
ooc

Yes.

The situation is that we have supplied the law firm we selected with as much of the raw material as we could gather (thanks to all who helped) and we were preparing for a conference with them to gather their views.

When it became obvious that we would not have enough members/funds to meet the suggested cost of the first stage, we postponed the meeting.

So we have a lawyer in possession of the data and who would be able to move quickly but we have not yet incurred any cost.

Hope that's clear?

[BrilloPad]

https://www.citizensadvice.org.uk/de...debt-in-court/

Statute barred debt

The debt will be statute barred if you, someone representing you, or someone else you held the account with (eg your partner) haven’t:
•made a payment in the last 6 years
•written to the creditor acknowledging that you owe them money in the last 6 years
•had a county court judgement (CCJ) against you for the debt in the last 6 years

So for those affected, be careful what you say!

[centurian]

https://www.citizensadvice.org.uk/de...debt-in-court/

Statute barred debt

The debt will be statute barred if you, someone representing you, or someone else you held the account with (eg your partner) haven’t:
•made a payment in the last 6 years
•written to the creditor acknowledging that you owe them money in the last 6 years
•had a county court judgement (CCJ) against you for the debt in the last 6 years

So for those affected, be careful what you say!

I don't think that last piece is correct. It only appears on a credit file for 6 years, but the CCJ itself technically never expires. However, they do need to go back to court after 6 years if they still want to enforce it, which is almost unheard of

Also, I don't think you can sell on a CCJ, which is why it's rare for a CCJ to be re-registered with the court - because debt management companies can't buy old CCJs for pennies in the pound and start enforcing them.

Affirm the rest of the points above though.

[CanPayButWouldRatherNot]

We have a dedicated thread on this topic for those in BIG group and would welcome anyone on the fringes to join us.

Legal angles are being considered and at least its out of the prying eyes of the promoter and HMRC.

[Out Of Cash]

We have a dedicated thread on this topic for those in BIG group and would welcome anyone on the fringes to join us.

Legal angles are being considered and at least its out of the prying eyes of the promoter and HMRC.

Interesting, ... So BG has forums for both the tax and loan repayment demand/debt aspects?

Thanks
ooc

[CanPayButWouldRatherNot]

Interesting, ... So BG has forums for both the tax and loan repayment demand/debt aspects?

Thanks
ooc

Correct . NTRT private forum remains an excellent resource but is closed to the contractors that joined in the original campaigns here on CUK. For those coming forward now BIG group is the only option apart from going it alone and has much more experience with IOM loan schemes as it doesnt just focus on the BN66 impacted promoters

[Morlock]

BIG Group

I am still in 2 minds about whether to join BIG Group. Can anyone tell me what it has achieved since formation? (And please don't tell me to join up at a cost of £100 in order to find out )

[webberg]

I am still in 2 minds about whether to join BIG Group. Can anyone tell me what it has achieved since formation? (And please don't tell me to join up at a cost of £100 in order to find out )

PM me

[Loan Ranger]

Update

Big Group are helping with this. Some of the guys in our group have already signed up.

BIG GROUP

Previously, the trustees had only sent demands to the Newquay schemes. This morning, some of our guys in Rathowen, received demands. Montpelier are clearly going for broke on this one.

Take care everyone.

[webberg]

To clarify a little.

Big group has a number of users of schemes where repayment of loans has been demanded. We are expecting that number to grow.

Some of those members also belong to other groups. Some do not and I understand that some groups are now closed.

In any event it's very likely BG will be facing this issue across the board very soon. As such advice is being sought from a good quality law firm. That advice is not dependent upon increased numbers and will be obtained this week/early next regardless.

We will have to respect the fact that paid for knowledge is proprietary but to the extent that we can give general advice in what will be inevitably a bespoke situation, we will.