Trust demanding repayment of loan

[DavidD]

Thank you - that is a very useful post, are they charging you to do the write off? Thanks again.

My panic is over as they have agreed to just write the loan off. Anyone else who is in the same boat worrying about repaying their loan speak directly to Pinotage at their lawyers office (they appear to have seconded someone in there) on 01534 786705. There appears to be a lot of confusion created because of the speed at which the Trust is winding up. I hope other people who got the FS Capital letter, like me, get some good news from Pinotage.

[Forsythia]

Thank you - that is a very useful post, are they charging you to do the write off? Thanks again.

Yep. Just the legal costs of £950.

[dammit chloe]

Thank you - that is a very useful post, are they charging you to do the write off? Thanks again.

It's a suspicious post to me. Doesn't read like someone who is caught up in this.

[GhostofTarbera]

I’ve magic beans for sale

Seems like gullible people in this thread may purchase


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[BrilloPad]

Personally I would not have any contact with a scheme except via an adviser. But each to their own.

Posts from CUK have ended up being used against schemes by HMRC in courts. And I think it is well known that HMRC do post on here - unofficially. And that is just the tip of what HMRC are doing. Things are about to get rough.

[DavidD]

I can certainly see this as an carefully orchestrated scheme to further shake down the loan scheme users:

1. People receive a letter to say that the loans have been passed on to an 'outfit' in Birmingham (run by other scheme providers) and now interest is accumulating, they have no protection of a trust and they may be asked to repay the loan at anytime.

2. A couple of days later the scheme providers send an email saying they did not know the loans had been sold on but 'hey - that's life'

3. Then a couple of days later Pinotage say that there is still an opportunity to write off the loans for the fee of £950.

As I've stated before I will never pay back a penny of the loan, however my settlement with HMRC is into six figures so it seems £950 might not be too bad for some 'peace of mind and finality' I'm still mulling it over.

[BrilloPad]

As I've stated before I will never pay back a penny of the loan, however my settlement with HMRC is into six figures so it seems £950 might not be too bad for some 'peace of mind and finality' I'm still mulling it over.

I am not convinced £950 will be the end of it. I reckon they will want more. And HMRC might want IHT.

[DealorNoDeal]

I am not convinced £950 will be the end of it. I reckon they will want more. And HMRC might want IHT.

IMO, I think it will be the end of it. Once they've issued a certificate, deed, or whatever, stating that the loans have been written off, I don't see how they could tap people for more.

And, after all, £950 per user is not a bad little earner for what can only be a bit of admin work. I imagine their main cost will be recouping what they paid for the loans.

[Forsythia]

IMO, I think it will be the end of it. Once they've issued a certificate, deed, or whatever, stating that the loans have been written off, I don't see how they could tap people for more.

And, after all, £950 per user is not a bad little earner for what can only be a bit of admin work. I imagine their main cost will be recouping what they paid for the loans.

Yep. Totally agree. And I can totally assure people that what I have posted is entirely accurate and was done to help . Pinotage could have come after a percentage but have not. I have absolutely no reason to suspect them at all of any dodgy dealing. I think they just want out of it now and intend the 3 trusts they are involved with to be wound up by December 31. If people are in the same boat as me and are involved with Pinotage then ring the number I gave you. Or go through and an advisor if you want to. Its up to you.

[Dmac]

Take care

Personally I would not have any contact with a scheme except via an adviser. But each to their own.

Posts from CUK have ended up being used against schemes by HMRC in courts. And I think it is well known that HMRC do post on here - unofficially. And that is just the tip of what HMRC are doing. Things are about to get rough.

It may not only be HMRC surreptitiously posting on these pages. Who knows, it may be the trusts, or those who have "bought" their loan books, in an effort to *encourage* scheme users to part with yet more hard earned cash.

I'd agree with BP on this - always go through an advisor, preferably one which knows these schemes and the main players.