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

[piebaps]

Barry, I'd suggest you do some background reading. Here's as good a place as any https://www.contractoruk.com/forums/...d-summary.html

It summarises things quite neatly and will save you reading through this whole thread. There are many schools of thought and ignoring the problem is one of them. Each option has its own pros and cons.

Also, beware of taking advice from anonymous posters on web forums. If you seek professional advice, do some due dilligence yourself before parting with any of your hard earned.

[creativity]

There is next to zero possibility of these charlatans actually winning any sort of case in the UK to force any of you to repay loans or interest or costs. Not a chance.
Ask yourself, how many of these lOM loan sham companies have successfully tested the legal process and forced payment? None. It wont happen here, not today, not with them.

[webberg]

There is next to zero possibility of these charlatans actually winning any sort of case in the UK to force any of you to repay loans or interest or costs. Not a chance.
Ask yourself, how many of these lOM loan sham companies have successfully tested the legal process and forced payment? None. It wont happen here, not today, not with them.

And what strategy do you recommend to achieve this?

[creativity]

And what strategy do you recommend to achieve this?

Time.

[webberg]

Time.

Sorry, being a bit dim this morning.

Does this mean you will do nothing and hope that Felicitas et al give up?

Or does it mean that you hope over time Felicitas will collect enough to keep even their dreams of avarice satisfied and will then give up on your loan?

[pnr8uk]

There is next to zero possibility of these charlatans actually winning any sort of case in the UK to force any of you to repay loans or interest or costs. Not a chance.
Ask yourself, how many of these lOM loan sham companies have successfully tested the legal process and forced payment? None. It wont happen here, not today, not with them.

Great bravado, what happens tomorrow though?

[MrO666]

Whilst I agree that on the face of it these IoM schemes quite possibly have a battle on their hands to legally prove or enforce any form of payment, I'm not entirely sure that just ignoring everything and waiting is the best approach. I've always found that disputing any claim or accusation (regardless what it is) based on fact and evidence is a safer approach, but hey, if it works for you then fair enough.

[creativity]

I am not affected by Felicitas.
But I do have experience with loans and the IoM Baker Tilly and associates.
I personally dealt with the tax on my loans by communicating to HMRC directly, there was inevitable delays but I found them consistent and successfully brokered a very decent settlement.
I am not going into details here, but if you were to see their offices, meet these directors you would feel alot better in knowing that these people are not professionals.
It's my opinion that these cowards would never go as far as court to apply their tenuous legal position, and never in front of a judge. A judge would throw them out!
So wait it out, six years will pass quickly and the clock is already ticking.

That's my stance, like it or not. You can of course hire professionals who will direct you in correspondence. But most likely your letters go unopened.

[DavidD]

Time.

I do believe time is a useful strategy, as has been said many time 'low hanging fruit' is what (I believe) these crooks are after. I do not believe they possess the will or in most cases the financial strength to push through what is IMHO a series of unwinnable cases just to get back what is essentially a series of bad debts....

If they can persuade some people to pay them back or even a small % back they will have got what they came for - money for nothing.

They will have to have deep pockets, a strong will and importantly a strong chance of winning to take this forward to court. HOLD THE LINE.

[WoffleCopter]

I note that Weberg states "none of his clients have paid a single penny". I would respectfully counter by asking how many non-clients have been ordered to repay these "loans" by a court. If the answer is also "none", one wonders what is to be gained by engaging.