IQ Consultants, Felicitas Solutions, ECS Trustees - loan repayment demands

[eek]

Corrected ... Law of England based on Darwin contract ~2011

That contract covers the £94 a day you received for signing over the money.

Where did the rest of the money you earnt go and how did it get back to you?

As that contract does NOT cover anything about the rest of the money you received unless I'm missing something and I really don't think I am.

[Lonerous]

My biggest issue with this whole sorry affair is that I simply don’t know what to believe any more. The sheer lack of transparency and professionalism in the Felicitas repayment demands (generic emails and text messages with no website, company address, contact names or phone number) only muddies the water further.

Do Felicitas have a strong legal case for repayment of the loans? Quite possibly.
Is it simply scare technique to frighten people into paying money they are not legally obliged to part with? Quite possibly.

When I signed up to be paid in loans nearly a decade ago (naively or otherwise) I was given assurances it was HMRC compliant and the loans would never be recalled. Now I am repaying HMRC a five figure interest fee, with the spectre of repaying the entire loan hovering over my head.

Based on the duplicity and chicanery of the last ten years, what’s to prevent someone paying Felicitas the agreed 5% to ‘settle’ the loan for good, only to find further down the line that it still leaves you open to repaying everything back regardless? Maybe with additional interest and penalties. I don’t trust a word this company (or any of their ilk) have to say. If I am approached directly via phone or a formal demand letter from an entity that offers an opportunity for discussion, that is a different matter, and one for which I will engage a qualified representative. Until then, I am biding my time, and won't be divulging personal information via an anonymous portal.

[GregRickshaw]

My biggest issue with this whole sorry affair....

I am of the exact same mind, on the whole since February I have pretty much ignored this the same way I ignored THL, it was only the discovery of this forum which made me start reading. Seems to be lots of good advice from obvious professionals and a lot of confusion and emotion from the rest of us.

What a sorry mess this seems to be, I think I will continue to ignore because quite simply since first letter I have had zero correspondence.

[NotAllThere]

Based on the duplicity and chicanery of the last ten years, what’s to prevent someone paying Felicitas the agreed 5% to ‘settle’ the loan for good, only to find further down the line that it still leaves you open to repaying everything back regardless?

Read again these posts:
https://www.contractoruk.com/forums/...ml#post2734122
https://www.contractoruk.com/forums/...ml#post2797368
https://www.contractoruk.com/forums/...ml#post2798920

There are ways of partially paying back a debt and for it to be considered fully settled - which is why you need proper legal advice before making a decision.

[eek]

Missed this one

4. unsecured loans - worst case I'm blacklisted for 6yrs oh well. I have nothing for them to take anyway.

A secured loan just means that you can't sell the item the loan is secured against without their permission and they have first rights to the item if you fail to repay the loan

Unsecured loans are little different but don't have a defined security so they may receive nothing at the end. But an unpaid unsecured loan can still result in bankruptcy and / or if you are 55+ a possibly large part of your pension

[GregRickshaw]

Read again these posts:...

So thank you whoever posted this concise part of the thread, I will not be ignoring anymore, I hear WTT and ETC mentioned here is there a preference recommendation?

[Emily1985]

So thank you whoever posted this concise part of the thread, I will not be ignoring anymore, I hear WTT and ETC mentioned here is there a preference recommendation?

You couldn’t go wrong with either of the above mentioned firms. Just take other comments with a pinch of salt as they’re just opinions. Unless they’re barristers of note who specialise on this technically murky topic I wouldn’t lose sleep over their opinions. Each person will have a different view here and that’s the beauty of a helpful bunch of contributors on a public forum. I’ve watched this since early Feb and thank god for all the contributors be it some are very passionate and some are slightly set in their ways but to each their own . I would suggest visiting the websites of each company mentioned , I did back in February and it’s put my mind at ease. Hopefully I don’t get attacked for my comments. Be well and don’t pay a dime until you’ve got some professional opinions.


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[eek]

You couldn’t go wrong with either of the above mentioned firms. Just take other comments with a pinch of salt as they’re just opinions. Unless they’re barristers of note who specialise on this technically murky topic I wouldn’t lose sleep over their opinions. Each person will have a different view here and that’s the beauty of a helpful bunch of contributors on a public forum. I’ve watched this since early Feb and thank god for all the contributors be it some are very passionate and some are slightly set in their ways but to each their own . I would suggest visiting the websites of each company mentioned , I did back in February and it’s put my mind at ease. Hopefully I don’t get attacked for my comments. Be well and don’t pay a dime until you’ve got some professional opinions.


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Yep speak to both companies but I didn't spend an hour writing https://www.contractoruk.com/forums/...ml#post2798920 for fun on a Sunday morning. And if the trust has new beneficiaries the trust no longer owes you a duty of care and need to maximise the amount of money they recover.

So as etc said back on https://www.contractoruk.com/forums/...ml#post2797142 (see the quotes) while etc and WTT can help with the tax side of things (IHT still exists even after you've paid the loan charge) you will need other lawyers to resolve the loan repayment issues and ensure any closure is final.

Now I'm not involved (I post here as this is an area of interest to me) and I'm starting to think that paying the settlement offer may be in your best interests partly because the new posters are recommending that you don't (and I'm very, VERY suspicious about them).

[Emily1985]

Sunday morning fun indeed , it’s a great forum with many great threads outside of this topic also, and might I say very addictive indeed and you’ve contributed across many topics[emoji1360], I made the mistake of downloading the app and it’s a great well rounded site to be honest so credit to the admins on the account. So much other great information and some great giggles .

The firm I am using mentioned above has Barristers at Law / Chartered Tax Adviser types who have assisted me with the legal side. I think they were flown in to meet the demand of the many new clients they have received as a result of this kerfuffle.

For a bit of humour and please don’t attack me here . It was the Elvis anniversary recently and suspicious minds was a great song .


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[GregRickshaw]

Yep speak to both companies.

Thank you for your effort and your advice here, I have been reading from afar (as are many others). The biggest problem I have is I don't have a settlement or anything since first letter, as I put that in the file marked (Shred) thinking this was THL country.

I did read a post about a settlement but I don't have one. I wonder if I reach out.... Mmm a little bit rock and a hard place here.