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

[MattWills78]

I've now found the loan agreement and it is not great...

"*3. Repayment*
3.1. The loan shall become due and payable one month after the service
of a written demand by the Lender on the Borrower, on the borrower
reaching his 70th birthday, or on the death of the borrower, whichever
is sooner.
3.2. The loan must be repaid in Sterling; repayment in any other
currency will not be accepted.

*6. Assignments*
6.1. The Borrower may not assign any of his rights under this Agreement
without the consent of the Lender.
6.2. The Lender may assign all or any part of its rights or benefit
under this Agreement without the consent of the Borrower."

Clearly there's more to it but I tend to agree with others that just because HMRC classed this as income and not a loan that does not affect the legal position of the loan itself. Sadly, like many of you, I have had to come to terms with paying a massive bill to HMRC and ending a horrendously stressful period of my life. For it to restart like this is horrific and I agree that we need to consider options and act as a whole here.

The HMRC got a decision from the Supreme Court in 2017 regarding loans / disguised remuneration - these leaches would have to overcome that ruling to prove you actually have a legitimate loan debt. Additionally if you can evidence what money was paid into the scheme by the company you contracted for and the total money paid to you, it will show there is no debt - I am advised no court in the land would consider that to be a legitimate basis for a claim...

[MattWills78]

That's not the loan agreement that is their T&Cs not the loan agreement you signed (if you did originally), if it gets to that stage they will need to provide an original signed credit agreement.

Agreed. I have requested a copy of my signed loan agreement from Gladstones and Felicitas - I’ll update you if / when they respond.

[corsair]

Can anyone confirm that Garraway or ECS international trustees limited are still functioning firms?

Because the letters are dated the 20th jan and neither look kosher, neither are signed.

[crowe99]

That's not the loan agreement that is their T&Cs not the loan agreement you signed (if you did originally), if it gets to that stage they will need to provide an original signed credit agreement.

OK - thanks. It was all I could find on file but that doesn't mean there wasn't something else. Hindsight is wonderful and I wish I had taken more care before getting into this mess in the first place!

[Wazza1882]

Can anyone confirm that Garraway or ECS international trustees limited are still functioning firms?

Because the letters are dated the 20th jan and neither look kosher, neither are signed.

I don’t, but ECS are listed under the Panama Papers. Courts would love to know these corrupt offshore firms are the ones wanting to wrongly claim back the loans.

[78paul]

Hi all,

MattWills78,
I have drafted my letter with the same request, will be sending this out. I will also be going to CAB.

Crowe99,
I found exactly the same T&C's as you, I am sure many of us have found the same.. I will look deeper into my files for anything else.

pnr8uk,
Thank you for clarifying that these are T&C's and not actual loan agreements.

A dispute is justified, who would without doing so simply agree to pay up to one aggressive letter that came completely out of now where demanding payment in an unrealistic timescale..
I will also be making a complaint to the SRA and anyone else I can think of.

[Socialsarah73]

I've now found the loan agreement and it is not great...

"*3. Repayment*
3.1. The loan shall become due and payable one month after the service
of a written demand by the Lender on the Borrower, on the borrower
reaching his 70th birthday, or on the death of the borrower, whichever
is sooner.
3.2. The loan must be repaid in Sterling; repayment in any other
currency will not be accepted.

*6. Assignments*
6.1. The Borrower may not assign any of his rights under this Agreement
without the consent of the Lender.
6.2. The Lender may assign all or any part of its rights or benefit
under this Agreement without the consent of the Borrower."

Clearly there's more to it but I tend to agree with others that just because HMRC classed this as income and not a loan that does not affect the legal position of the loan itself. Sadly, like many of you, I have had to come to terms with paying a massive bill to HMRC and ending a horrendously stressful period of my life. For it to restart like this is horrific and I agree that we need to consider options and act as a whole here.

My IQ “loan” doesn’t say that also still not received a letter from these parasites - I know shouldn’t be complaining although i wonder if they are targeting certain years - mine was 2016.

Mine states

Repayment and interest

Each loan shall be repayable on or before the thirtieth of it being made

Each loan will be interest free unless and until

A it is due and repayable, or if earlier

B the date (not being earlier than the date of service) specified in a notice served by the lender on the borrower requiring interest to be paid.as from that date

Wher upon it will bear interest

[TakenAlongForaRide]

what if

what if you no longer reside in the UK or europe and the letter arrived to your parents house who dont know where you currently live... ignore?

[Wazza1882]

Question...

At the end of my stay with IQ I received a P45. Surely that’s proof enough that I was employed by them and that those payments highlighted as ‘IQ Consultants Ltd’ on my statement was in fact my salary?

[DealorNoDeal]

what if you no longer reside in the UK or europe and the letter arrived to your parents house who dont know where you currently live... ignore?

I would. But then I'd ignore it even if I was living in the UK.

Until they send something recorded delivery, what letter?