Right
Borrower approaches Phillips usually hoping to get a medium or long term loan.Phillips never has the money there and then,or access to this type of borrowing when you need it.But he always has a new scheme about to be launched.Don't worry we can put you into an 'opportunity finance' loan until that scheme is up and running.Opportunity finance is bridging finance, simple as.Anyway the new scheme he is promoting sounds ideal so the borrower accepts,probably taking the long term view and glad to have been accepted.As soon as you agree the papers are delivered to you to sign,very often in hours ! Phillips then instructs valuer,you pay,and never see valuation.If you are working to a deadline you will then find the deal slowing right down,and the more desperate you get the more likely the terms will change.It will always be taken up to the wire.As you don't see the valuation they can tell you what they wish at the time,but strangely,very few cases are turned down on the valuation.
The deal completes and then reality hits home,the working capital you had been promised,which is generally to make the investment to service the loan ,will have all but disappeared in a mass of charges you weren't expecting.The problems have started but you still take the long term view,you've had your leg lifted but you'll have to live with it,it would be too expensive to get out of.As the opportunity finance period runs on ,you start to wonder when the paperwork for the new loan will arrive,so you think,I'd better call Des.Next problem,trying to contact them .Business meetings,dentist ,hairdresser,away on business and return calls,no chance.
The opportunity finance term expires,you get a letter calling in the loan,you are now on penalty finance usually 2% pcm.The longer term finance is still being offered,this is to 'keep the meter running',to erode the borrowers equity as much as possible,to take them to a point of no return.When it is eroded sufficiently they appoint their pet LPA receiver,Nick Burd.He will tell you he is your friend.
You are now entering a world of the most accomplished liars you will ever come across.A world where all the professional people know, that payment only comes on sale of the asset,there is no alternative.
The criminal part is first, the lie,to get you onboard,The second will probably be in the paperwork, delivered to you to sign -but not read-and sometimes witnessed by somebody you have never met.The third one is the valuation but you won't see it until very late in the day,probably when you eventually get some worthwhile advice (difficult to find,well beyond your average market town solicitor).The fourth one is then the litany of lies from the other professionals involved,to whom perjury and forgery are part of the working day,court procedure rules a joke and Land Registry rules there to be broken.
And while all this is happening you will have unexplained visits from Trading Standards,EHO,RSPCA,DEFRA vets, just to make you lie down and die.
Don't think this is restricted to UK Acorn,it seems that most of the Bank recovery units are now fully prepared to totally ignore any regulation and carry out their business in a similar fashion,be warned.
Just makes you wonder how many more families there are out there whose lives have been ruined by these people.I would be most interested if anybody has suspicions of people that were targeted by these crooks,acting in the name of the bank,but not acting in the way the bank intended.PM me anything that you think might be of interest.
Seems quite eperdemic in all types of property fraud told to me today by high authoritie seems they can’t seem cope ,ant it a worry
Dirty b`stards , I wonder how they sleep at night ? I`m not suggesting that they may have a conscience , they clearly dont , if I was them I`d be very worried about getting a five o clock knock and two No5`s in the guts , I`ve always believed one needs to be very careful of upsetting a man with nothing to lose.Right
Borrower approaches Phillips usually hoping to get a medium or long term loan.Phillips never has the money there and then,or access to this type of borrowing when you need it.But he always has a new scheme about to be launched.Don't worry we can put you into an 'opportunity finance' loan until that scheme is up and running.Opportunity finance is bridging finance, simple as.Anyway the new scheme he is promoting sounds ideal so the borrower accepts,probably taking the long term view and glad to have been accepted.As soon as you agree the papers are delivered to you to sign,very often in hours ! Phillips then instructs valuer,you pay,and never see valuation.If you are working to a deadline you will then find the deal slowing right down,and the more desperate you get the more likely the terms will change.It will always be taken up to the wire.As you don't see the valuation they can tell you what they wish at the time,but strangely,very few cases are turned down on the valuation.
The deal completes and then reality hits home,the working capital you had been promised,which is generally to make the investment to service the loan ,will have all but disappeared in a mass of charges you weren't expecting.The problems have started but you still take the long term view,you've had your leg lifted but you'll have to live with it,it would be too expensive to get out of.As the opportunity finance period runs on ,you start to wonder when the paperwork for the new loan will arrive,so you think,I'd better call Des.Next problem,trying to contact them .Business meetings,dentist ,hairdresser,away on business and return calls,no chance.
The opportunity finance term expires,you get a letter calling in the loan,you are now on penalty finance usually 2% pcm.The longer term finance is still being offered,this is to 'keep the meter running',to erode the borrowers equity as much as possible,to take them to a point of no return.When it is eroded sufficiently they appoint their pet LPA receiver,Nick Burd.He will tell you he is your friend.
You are now entering a world of the most accomplished liars you will ever come across.A world where all the professional people know, that payment only comes on sale of the asset,there is no alternative.
The criminal part is first, the lie,to get you onboard,The second will probably be in the paperwork, delivered to you to sign -but not read-and sometimes witnessed by somebody you have never met.The third one is the valuation but you won't see it until very late in the day,probably when you eventually get some worthwhile advice (difficult to find,well beyond your average market town solicitor).The fourth one is then the litany of lies from the other professionals involved,to whom perjury and forgery are part of the working day,court procedure rules a joke and Land Registry rules there to be broken.
And while all this is happening you will have unexplained visits from Trading Standards,EHO,RSPCA,DEFRA vets, just to make you lie down and die.
Don't think this is restricted to UK Acorn,it seems that most of the Bank recovery units are now fully prepared to totally ignore any regulation and carry out their business in a similar fashion,be warned.
Do you have a contact link for Mr Hain ? Thanks
The farms that have livestock, that these people repossess, they, clearly need help from the various agencies, eg Trading Standards, Defra etc. There are some offices that are clearly known as `Dirty Offices' and there must be palms being touch with gold dust
They are German I believe,but have a house in South Africa and money in Liechtenstein,some of which Des has relieved them of.
Desmond Victor John Gupta, the fourth brother.
Hadn’t relished he was on trial must have slept through that oneI have heard that the trial of the-solicitor-who-cant-be-named has been put off to next April...............disgrace,if it's true.