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I need help! FS Capital

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    #21
    Originally posted by MeeToo View Post
    As my username might suggest, I too am now in the same boat and am angry, confused and extremely worried. This puts my whole future in jeopardy. I seem to know even less about what to do though. My letter from FS Capital even mentions WTT although I have zero idea of who or what they are.
    An alternative view - ignore the letter. I don't believe it will ever get anywhere. If you stress then get an adviser.

    Comment


      #22
      Originally posted by webberg View Post
      It says that they "FS Capital" were approached by WTT and Peak and as a result of that, there was a moratorium placed on further action from FS Capital. That expires 14th March.
      If they had any sense, they'd offer to write the loans off for a modest admin fee.

      Compromise (where nobody wins outright) is better than conflict, where often only the lawyers win.
      Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.

      Comment


        #23
        I'm sorry to hear you are stressed.
        Webberg (WTT) can certainly help.
        Yes they were loans so if lawful money will be owed to HMRC, again Webberg can help if unsure.
        But it's highly unlikely, if not impossible, that you will be forced to pay back the loans to the loan company who acquired (bought) your data and who are now contacting you.
        Last edited by Contractor UK; 10 January 2021, 22:05.

        Comment


          #24
          Originally posted by DealorNoDeal View Post
          If they had any sense, they'd offer to write the loans off for a modest admin fee.

          Compromise (where nobody wins outright) is better than conflict, where often only the lawyers win.
          The above post has a lot of credibility in a few words.

          In general I'd agree that compromise is an option here that should not be dismissed. However you should be looking to create that compromise from a position of strength and not be forced into a situation in which your options have narrowed and been weakened.

          Here that is especially important.

          You need to detach yourself from the emotional elements about who owns the loans now and their claimed motives and character and make as objective an assessment as you can.

          Just don't have the loans written off before you settle or get an agreement from HMRC that a charge will not arise.
          Best Forum Adviser & Forum Personality of the Year 2018.

          (No, me neither).

          Comment


            #25
            Originally posted by webberg View Post
            Just don't have the loans written off before you settle or get an agreement from HMRC that a charge will not arise.
            Do you have any wording for this agreement that I could put to HMRC?

            Comment


              #26
              Originally posted by Superfly View Post
              Do you have any wording for this agreement that I could put to HMRC?
              Not especially.

              Just a simple request to HMRC should do.
              Best Forum Adviser & Forum Personality of the Year 2018.

              (No, me neither).

              Comment


                #27
                Did anyone else get an email from FS Capital?

                Originally posted by webberg View Post
                Call us - we are in the phone book.
                Received this email from FS Capital today

                Moratorium Update

                As you will be aware from our previous letters the moratorium on taking debt enforcement action is due to end on 31 March 2020. Although discussions continue with both David Gill of Peak Performance Head Office Services and Graham Webber of WTT Consulting, very little progress has been made, and the current coronavirus situation has only made this worse. FS Capital has therefore concluded that in the current uncertain environment it is prepared to offer an extended moratorium that will last until 30 April 2021. This offer is made on the basis that you confirm that you are prepared to enter into an agreement with FS Capital by 30 April 2020 under which:

                FS Capital agrees to take no enforcement action whatsoever with regard to the debt prior to 1 May 2021,
                FS Capital agrees not to assign or otherwise transfer ownership of the debt to any other party prior to 1 May 2021,
                In return for which each debtor will enter into such an agreement and will pay FS Capital £950 by 31 May 2020, such amount to count as a part payment towards any final settlement to be reached with FS Capital.
                No interest will accrue on the outstanding debt from the date any such agreement is entered into until 1 May 2021 at the earliest.
                This is open to all debtors whether or not they have joined the Peak sponsored group association or WTT’s Big Group.

                Yours sincerely


                Is this actually the case?

                Comment


                  #28
                  Originally posted by nebuke View Post
                  Moratorium Update

                  As you will be aware from our previous letters the moratorium on taking debt enforcement action is due to end on 31 March 2020. Although discussions continue with both David Gill of Peak Performance Head Office Services and Graham Webber of WTT Consulting, very little progress has been made, and the current coronavirus situation has only made this worse. FS Capital has therefore concluded that in the current uncertain environment it is prepared to offer an extended moratorium that will last until 30 April 2021. This offer is made on the basis that you confirm that you are prepared to enter into an agreement with FS Capital by 30 April 2020 under which:

                  FS Capital agrees to take no enforcement action whatsoever with regard to the debt prior to 1 May 2021,
                  FS Capital agrees not to assign or otherwise transfer ownership of the debt to any other party prior to 1 May 2021,
                  In return for which each debtor will enter into such an agreement and will pay FS Capital £950 by 31 May 2020, such amount to count as a part payment towards any final settlement to be reached with FS Capital.
                  No interest will accrue on the outstanding debt from the date any such agreement is entered into until 1 May 2021 at the earliest.
                  This is open to all debtors whether or not they have joined the Peak sponsored group association or WTT’s Big Group.

                  Yours sincerely
                  <Snipped>
                  Last edited by Contractor UK; 10 January 2021, 22:07.
                  Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.

                  Comment


                    #29
                    Originally posted by nebuke View Post
                    Received this email from FS Capital today

                    Moratorium Update

                    As you will be aware from our previous letters the moratorium on taking debt enforcement action is due to end on 31 March 2020. Although discussions continue with both David Gill of Peak Performance Head Office Services and Graham Webber of WTT Consulting, very little progress has been made, and the current coronavirus situation has only made this worse. FS Capital has therefore concluded that in the current uncertain environment it is prepared to offer an extended moratorium that will last until 30 April 2021. This offer is made on the basis that you confirm that you are prepared to enter into an agreement with FS Capital by 30 April 2020 under which:

                    FS Capital agrees to take no enforcement action whatsoever with regard to the debt prior to 1 May 2021,
                    FS Capital agrees not to assign or otherwise transfer ownership of the debt to any other party prior to 1 May 2021,
                    In return for which each debtor will enter into such an agreement and will pay FS Capital £950 by 31 May 2020, such amount to count as a part payment towards any final settlement to be reached with FS Capital.
                    No interest will accrue on the outstanding debt from the date any such agreement is entered into until 1 May 2021 at the earliest.
                    This is open to all debtors whether or not they have joined the Peak sponsored group association or WTT’s Big Group.

                    Yours sincerely


                    Is this actually the case?
                    Case??

                    Sent from my iPhone using Contractor UK Forum
                    Last edited by Contractor UK; 10 January 2021, 22:07.

                    Comment


                      #30
                      I didn't get that email (yet) - and I'm not expecting to.

                      After I got the initial letter from Gladstones Solicitors on 20th February I sent a reply (drafted under the guidance of WTT) asking for documentation (e.g. evidence of original loan, evidence of loan assignment, etc.).

                      I sent the reply by registered letter, and I gave them fourteen days to respond - just as they had given me. (Note: I deliberately didn't send the response by email - didn't want them to start spamming me by email.)

                      I've heard nothing since.

                      I strongly suggest you ignore these. They are clearly looking for a few "quick wins" - i.e. they are looking to get a few (who don't know any better) to pay them £950 under threat of future legal action.

                      It's also notable that your email didn't come from Gladstones Solicitors - I think Gladstones will have taken notice of the many threats to report them to the regulators and have now backed off from representing FS.

                      (But I could be wrong)

                      If you are at all worried about these, you should contact webberg.
                      Last edited by Contractor UK; 10 January 2021, 22:08.
                      "If You Tolerate This Your Children Will Be Next ..."

                      Comment

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