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Loans being demanded - a summary

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    #51
    Originally posted by IWasRobbed View Post
    I got a text message off them a few weeks ago giving me 14 days to pay. They sent me a "copy" of teh loan agreement a few months back but a large number of the pages were blacked out. It's a giant con in my view. MASSIVELY missold. WTT have been brilliant.

    Felicitas' messages are basically identical to some random dude coming up to your door and asking for money. Zero proof.
    I've got agreements back from feciltas and they are not blacked out but they have been changed and do not even match the ones garraway gave me.
    They have definitely been messing around with the agreements changing words and adding new bits on. I compared it with what garraway emailed me about 10 years ago and it dont even match.
    My solicitor is trying to stop garraway resolutions and professional indepndent trustess trustees shutting down as they got questions to answer as one or more of them garraway, pro trustess or feciltas has been messing with agreements as well as a load of other stuff they need to answer for.

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      #52
      I'd have to disagree.

      There are many advisers looking at the situation and dealing with the FACTS.

      These advisers will have their own view as to the veracity of the claims being made and will be advising clients in line with their view of those facts and the law.

      Are you suggesting that such advisers are aiding and abetting a "fraud"?

      Or perhaps because an adviser is applying their knowledge and expertise for a fee, they have a vested interest in keeping the plates spinning even if there is "huge fraud"?
      Last edited by Contractor UK; 11 January 2021, 11:52.
      Best Forum Adviser & Forum Personality of the Year 2018.

      (No, me neither).

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        #53
        Originally posted by webberg View Post
        ...vested interest in keeping the plates spinning...
        It's hard not to wonder when an advisor's entire business, for over 5 years and counting, depends on the ongoing fallout from loan schemes.

        Don't pay any attention to me, though, because I'm just a cynical old bastard.
        Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.

        Comment


          #54
          Originally posted by DealorNoDeal View Post
          It's hard not to wonder when an advisor's entire business, for over 5 years and counting, depends on the ongoing fallout from loan schemes.

          Don't pay any attention to me, though, because I'm just a cynical old bastard.
          The thing to remember is that a loan from as trust isn't easily solved unless it is repaid or formally written off (and there are potential tax implications with the latter).

          A lot of people really don't understand how seriously they were screwed when they thought that joining a scheme would save them some tax / make IR35 go away.
          merely at clientco for the entertainment

          Comment


            #55
            Originally posted by eek View Post
            The thing to remember is that a loan from as trust isn't easily solved unless it is repaid or formally written off (and there are potential tax implications with the latter).

            A lot of people really don't understand how seriously they were screwed when they thought that joining a scheme would save them some tax / make IR35 go away.
            I don't like loose ends, so schemes with indefinite loans never appealed to me. The ones with loans in depreciating currencies didn't seem quite so bad because at least they would erode over time.

            Flouting IR35 would almost certainly have been a better bet than joining a scheme.
            Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.

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              #56
              Originally posted by DealorNoDeal View Post

              Flouting IR35 would almost certainly have been a better bet than joining a scheme.
              1 million percent

              Comment


                #57
                Originally posted by DealorNoDeal View Post
                I don't like loose ends, so schemes with indefinite loans never appealed to me. The ones with loans in depreciating currencies didn't seem quite so bad because at least they would erode over time.

                Flouting IR35 would almost certainly have been a better bet than joining a scheme.
                Pretty much identical to me. The fact they disappeared, even if naively/legally/whatever, seemed logical. Loans that existed forever would have been less appealing.

                I didn't even want to be contract, but it was the dotcom bust and beggars weren't choosers. I was heavily warned about IR35 more than schemes but turned out that IR35's bark didn't have much bite to go with.

                Comment


                  #58
                  Originally posted by DealorNoDeal View Post
                  It's hard not to wonder when an advisor's entire business, for over 5 years and counting, depends on the ongoing fallout from loan schemes.

                  Don't pay any attention to me, though, because I'm just a cynical old bastard.
                  "Entire business" - no.
                  Best Forum Adviser & Forum Personality of the Year 2018.

                  (No, me neither).

                  Comment


                    #59
                    Originally posted by webberg View Post
                    "Entire business" - no.
                    OK then, what % of WTT's income does not come from loan scheme related work?
                    Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.

                    Comment


                      #60
                      Originally posted by DealorNoDeal View Post
                      OK then, what % of WTT's income does not come from loan scheme related work?
                      none of your business?
                      Best Forum Adviser & Forum Personality of the Year 2018.

                      (No, me neither).

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