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

[WoffleCopter]

You probably notice that the loan is being referred to as a singular but you most likely got paid a loan on a weekly basis... in my case 20 loans over 20 weeks approximately. I never see that break down anywhere.

I received 5 one-line "loan payment" notifications by email. One for each month I was engaged. The term "loan payment" that they used is itself an oxymoron. A payment is a sum transferred in consideration of goods or services, which precludes it from being a loan advance [imo].

As I said, I don't recall signing any loan agreement. Perhaps it was part of the application process, similar to when installing software etc. Not sure how binding that would be.

[JOSHR]

I too have a Loan Payment demand from Felicitas..

I received 5 one-line "loan payment" notifications by email. One for each month I was engaged. The term "loan payment" that they used is itself an oxymoron. A payment is a sum transferred in consideration of goods or services, which precludes it from being a loan advance [imo].

As I said, I don't recall signing any loan agreement. Perhaps it was part of the application process, similar to when installing software etc. Not sure how binding that would be.

Following receipt of all letters, I am estimating that most of us will dispute or not send a reponse

What do we think that Felicitas/Gladstone will then do...

Send notification threating imminent litigation - if so does each person need legal representation at that point? Or can individualssimply go to court to represent themselves?

[H20]

Why do you think it needs to have "agreed loan figures"?

It is my naivety and lack of accounting knowledge that has got me into this mess in the first place. My lack of understanding is why I ask the most basic of questions. I do know how forums work and it is usually like minded people sharing experiences and knowledge to come up with solutions and answers, and I guess a better understanding.

I apologise for speaking outwith the financial guidelines and basic standards for accounting if I knew what they were.

I suppose I could always pay more people to give me the wrong answer.

Guys,
This is a numbers game, A loan equivalent of a ponzi scam. As i understand it up to 50,000 people used these ‘Tax Planning’ schemes which we now know and are proved in law to be disguised remuneration , hence HMRC claw back of Tax and NI on the money deemed earnt and taxable.
If letters have only gone out to half of those people say 25000
And an average of say £15k is asked for ‘ for settlement in full then if inly 10% of the 25000 settle thats 2500 x £15 k = £37.5m.... if Felicitas think they can get this sort of money, then why use a s—t outfit like Gladstone’s to collect for you. It doesn't make sense.

[uplock]

Guys,
This is a numbers game, A loan equivalent of a ponzi scam. As i understand it up to 50,000 people used these ‘Tax Planning’ schemes which we now know and are proved in law to be disguised remuneration , hence HMRC claw back of Tax and NI on the money deemed earnt and taxable.
If letters have only gone out to half of those people say 25000
And an average of say £15k is asked for ‘ for settlement in full then if inly 10% of the 25000 settle thats 2500 x £15 k = £37.5m.... if Felicitas think they can get this sort of money, then why use a s—t outfit like Gladstone’s to collect for you. It doesn't make sense.

Hello all - I also received a 5th Feb dated notice for a Darwin Pay scheme I entered into in 2009 - 2011.

I note that some have relieved notices of assignments and demand for payment, while others have only received the notice of assignment (ie no payment demand). Is there any thought on why they would adopted this two different routes for some scheme/contractors and not for others?

Also, should I join WTT Big Group, if at this stage, they have not demanded payment (yet).

Thoughts would be appreciated.

[cushty]

Sanzar Partnership and Felicitas

On this topic I just received a couple of letters, just thought I'd share my experience so far.

1. Deed of Assignment of "loans" from Professional Independent Trustees Limited of the Sanzar Solutions Isle of Man Trust (Assignor) to Felicitas Solutions Limited (Assignee).
2. Letter from Felicitas saying that I will need to pay them back the "loans".

Firstly I never worked with Sanzar Solutions, although I did have a contract through Sanzar Partnership. Back in 2008, as soon as they sent me a letter saying that they were changing company names it all smelled so bad I terminated my dealings with them immediately.

I too was stung for the tax from HMRC and paid up a healthy sum by selling my apartment.

Now these low-life scum Felicitas are trying to extort more money from us buying fictitious loans from Sanzar. Makes me sick to the stomach.

Fortunately I kept all correspondence from Sanzar Partnership. One important letter that I found was this dated May 2009

Dear XXX

As you are aware the Sanzar Partnership closed for business on 5th April 2009. As part of the winding up of the company the Trustees have confirmed that (as of 5th April) there is no liability between yourself and The Sanzar Partnership Trust.

There is no further documentation required to conclude your employment with The Sanzar Partnership or resolve the payments that you have received.

Should you wish to receive any further information regarding the payments that you have received from The Sanzar Partnership Trust in the period to 5th April 2009, please contact us at the above address.

I mean, I'm hoping that this is proof enough that I don't owe any money, apart from the fact that these payment i received from Sanzar Partnership were my own money in the first place and that the HMRC considered these payments income, not loans.

[webberg]

Guys,
This is a numbers game Agreed, A loan equivalent of a ponzi scam no comment. As i understand it up to 50,000 people used these ‘Tax Planning’ schemes which we now know and are proved in law to be disguised remuneration entirely untrue - not been proven at all , hence HMRC claw back of Tax and NI on the money deemed earnt and taxable.
If letters have only gone out to half of those people say 25000 I suspect the schemes we see here represent less than 5% of that 50,000
And an average of say £15k try £60,000 for a more accurate value is asked for ‘ for settlement in full then if inly 10% of the 25000 settle thats 2500 x £15 k = £37.5m.... if Felicitas think they can get this sort of money, then why use a s—t outfit like Gladstone’s to collect for you. It doesn't make sense.

#
Using my numbers.

(2,500x 20%) x 60,000 x 3 years? = £90m.

All speculation of course.

However, even if the number if 10% of that, reason enough to do it.

None of my clients will be contributing to that.

[Smudge67er]

I've been away this morning doing the day job so this is a round up of comments on some of the above.

Statute barred/6 year rule

The loan agreements we have seen have a repayment clause that can be exercised pretty much at the lender's discretion. There is therefore no statute bar to that action.

Further, the 6 year rule applies to actions that are initiated but which the lender does not follow up for 6 years. In other words, the 6 year clock starts when the loan is asked to be repaid.

If the loan was in the form of a deed, it's 12 years.

I have all of my Sanzar paperwork. There is no loan agreement in it, no mention of a loan. I've certainly not signed anything either.

[webberg]

I have all of my Sanzar paperwork. There is no loan agreement in it, no mention of a loan. I've certainly not signed anything either.

I have said in another post that the Sanzar scheme claimed that all the "loans" were repaid each year and therefore there is nothing left to demand.

[webberg]

Why do you think it needs to have "agreed loan figures"?

It is my naivety and lack of accounting knowledge that has got me into this mess in the first place. My lack of understanding is why I ask the most basic of questions. I do know how forums work and it is usually like minded people sharing experiences and knowledge to come up with solutions and answers, and I guess a better understanding.

I apologise for speaking outwith the financial guidelines and basic standards for accounting if I knew what they were.

I suppose I could always pay more people to give me the wrong answer.

I did not mean to be sharp or derogatory.

There are however limits to what I and other advisers can do in terms of explanations and whilst we may perhaps expect prospective clients to have done some background research of their own and to be au fait with the basics, I appreciate that sometimes I can be a little too forthright (or to quote another poster "high and mighty").

I did not mean to offend.

[Smudge67er]

I have said in another post that the Sanzar scheme claimed that all the "loans" were repaid each year and therefore there is nothing left to demand.

Sorry, I must have missed that bit.


So you think I should just ignore them and hope they'll go away?