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

[NeedTheSunshine]

I'm not questioning whether its a loan or not. I am saying that it was never mentioned to me when I signed up. I was told to sign on page one of a 24 page document. The loan bit is mentioned on page 19.

It has been suggested here that folk knew what they were signing up for. Eh ? You get paid for doing work but you only get loaned the money and have to pay it back ?

Who in their right mind would agree to that ? Unless I have misinterpreted what has been said. I'm not having a go at anyone here I'm just baffled why anyone would willingly sign up for a scheme where you have to pay the money back.

Totally ludicrous.

You're still in the denial/angry/upset mode. It doesn't matter if you did or didn't read the whole document before signing it. You signed it. We're all wise in hindsight.

Nobody has said that everyone knew what they were signing up for. Some did and some didn't. Once again it doesn't matter. You are where you are and you need to deal with it.

Being angry is not going to help. Taking action is. I've been on the receiving end of HMRC's behaviour and once you decide to calm down take action you will feel much more in control and therefore calmer. Joining a group is the best thing as you will no longer feel alone in this issue and can share costs. And being in a group with others does help on the dark days when it all gets overwhelming.

Personally I would not be engaging with these chancers without some advice from someone who knows what they are talking about.

[Col1n]

Same here

Hi all, new user of this forum.
I’m in the same situation as everyone else it seems. Struggling for information/advice from local sources. Would be keen to join up with any group activities and to learn of any reputable law firms that can help out. Based in Scotland, don’t know if that makes a difference?

[Scrogbank]

You're still in the denial/angry/upset mode. It doesn't matter if you did or didn't read the whole document before signing it. You signed it. We're all wise in hindsight.

Nobody has said that everyone knew what they were signing up for. Some did and some didn't. Once again it doesn't matter. You are where you are and you need to deal with it.

Being angry is not going to help. Taking action is. I've been on the receiving end of HMRC's behaviour and once you decide to calm down take action you will feel much more in control and therefore calmer. Joining a group is the best thing as you will no longer feel alone in this issue and can share costs. And being in a group with others does help on the dark days when it all gets overwhelming.

Personally I would not be engaging with these chancers without some advice from someone who knows what they are talking about.

I am with you my friend we all need to chill and deal with the reality

[Culps67]

You're still in the denial/angry/upset mode. It doesn't matter if you did or didn't read the whole document before signing it. You signed it. We're all wise in hindsight.

Nobody has said that everyone knew what they were signing up for. Some did and some didn't. Once again it doesn't matter. You are where you are and you need to deal with it.

Being angry is not going to help. Taking action is. I've been on the receiving end of HMRC's behaviour and once you decide to calm down take action you will feel much more in control and therefore calmer. Joining a group is the best thing as you will no longer feel alone in this issue and can share costs. And being in a group with others does help on the dark days when it all gets overwhelming.

Personally I would not be engaging with these chancers without some advice from someone who knows what they are talking about.

What are you on about ? I'm not in denial at all. Its less than £2000. Hardly going to make me homeless. I own my house anyway. I'm just annoyed at being ripped off. I'd be annoyed at being ripped off for £50. It's the principle of it. I'm more upset for the folk who's tax bill ran into the tens of thousands and now thinking they might have to pay the loan back too. I am angry the umbrella company I signed up with is still trading and offering PAYE services and advertised as compliant.

[NeedTheSunshine]

What are you on about ? I'm not in denial at all. Its less than £2000. Hardly going to make me homeless. I own my house anyway. I'm just annoyed at being ripped off. I'd be annoyed at being ripped off for £50. It's the principle of it. I'm more upset for the folk who's tax bill ran into the tens of thousands and now thinking they might have to pay the loan back too.

It might help those people if you stopped ranting on about it and scare mongering.

[Culps67]

It might help those people if you stopped ranting on about it and scare mongering.

How can I be scaremongering when I don't even know what the situation is ? All I know is it says the loan is to be paid back. I don't know if it does or not. I don't know anything else and neither does anyone else it seems. I was merely relaying what happened in my situation and responding to some comments saying that the umbrella company told me don't worry its not a real loan and you don't have to pay it back. This did not happen. Sorry, am I not allowed to respond to that ?

[bosslady81]

signing up with WTT consulting

Hi, im new one here but there is a group signed up with WTT to deal with Gladstone (loan repayment demands) I advise more people join as larger action group will work better then individuals going out to them.

[emko]

Also one of the people who have received this letter from these chancers ( Felicitas, Gladstone's). I may be in a slightly different position ( or not), to some, as I have settled in full with HMRC prior to the April 2019 loan charge. I have all the correspondence from HMRC and the final statement from them says that " I can confirm that no inheritance tax liability can be calculated on the payments you received from xxxxxxxx which is a Note 4 scheme".

However, maybe we are missing a trick here. Surely as with PPI isn't it the fact that these 'solutions' to tax planning were mis-sold. ie. I still have documentation which states that the solution I used was supported and backed by an eminent tax QC, met with all HMRC requirements etc. However, evidently this is not true as it has been proved they did not meet the requirements as laid down and we were all exposed to 'risk' which was not clarified, identified, or notified to us.

Surely there is potential her for a 'class action' by a number of people ( us affected), whereby we could look to counter claim against these people for compensation for mis-selling of a financial product. Evidently they are signed up to the FCA, so shouldn't they abide by these rules ?

You make a good point. That is why in my dispute letter I requested that Gladstones confirm that they are instructed to deal with my counterclaim for the losses I suffered as a result of THE CREDITOR mis-selling a product (through which income were disguised as loans) which turned out not to be fit for purpose.

I await their response.

[webberg]

You make a good point. That is why in my dispute letter I requested that Gladstones confirm that they are instructed to deal with my counterclaim for the losses I suffered as a result of THE CREDITOR mis-selling a product (through which income were disguised as loans) which turned out not to be fit for purpose.

I await their response.

Did you read the responses to the post you quoted?

There is no mis-selling. You can mis-sell only those things that have to be sold in accordance with regulations. This was an entirely unregulated industry and the rule was (and is) caveat emptor - buyer beware.

There is no body you can refer a mis-seller to. No rules that they have breached.

A QC opinion is just an opinion. They have been asked a very specific question and will have answered it narrowly. Without seeing what that question was you have no idea what the answer means. It was/is common practice for these promoters to say that the "opinion" is a broad one and covers everything.

That was/is

a. unlikely
b. proven to be incorrect

If you took advice from a professional (letters after their name) and that was demonstrably negligent, then you can perhaps sue them.

Otherwise, the sad outcome is that the promoters can continue to live on the considerable profits they made safe in the knowledge that it would cost hundreds of thousands of pounds and many, many years to part them from any of it.

[neveragain]

I have mailed gladstones requesting information and details about this 'loan' and interest charges amongst other queries.
Also asked them what they give as a guarantee IF I paid the 'offer' amount, not to come back again in the future.
They have not responded.

So, if we pay this offer amount, is there likely to be another tax from HMRC for the write off of this so called unsecured ‘loan’?
Some are saying IHT, or another?