Reality Expansion Group / Property Mentor

[PlanB]

Re: Could do with some advice, please

They also make out that everyone on the course will gain a 'buy to let' property within their first year of being with Property Mentor but it just doesn't happen! I have a black Zip up folder with paper work in it which is mostly just a copy of what was shown up on a screen and it does say on the front of the folder 'Property Mentor' in gold letters and www.propertymentor.co.uk.

Oh how I would love to see the contents of that black zip folder!

I know this outfit because I met them at a trade fair in London. I have a portfolio of BLT properties and it isn't that simple to make a fortune. I expect this will all be about promises made which could never be fulfilled if you say you are on JSA. There's no way on earth you could buy a Buy-to-Let property when on benefits. It will also depend on whether you were asked about your financial circumstances at the outset.

I have to rush out now :sorry: but I'll have a read back through your posts in the next couple of days I'm sure I'll have plenty to say after that.

* my thanks to Miss FM who sent me a PM to flag this up

[labman]

Re: Could do with some advice, please

I have a portfolio of BLT properties

Urban Dictionary:

1. blt
1) Bacon Lettuce and Tomato Sandwich

Should earn you some bread!

[PippaApple]

Re: Could do with some advice, please

Thanks Alsatian for your response and support. The trouble is these people make out they can help anyone and everyone, no matter what your age or employment status! I did explain to Peter Franklin that I was not in a regular job and had only ever earnt peanuts teaching music on and off as a Private Music Teacher. The only time I made any serious money was when I sold my previous property but the money has since dried up because of every day living expenses! The funny thing is they get you to send them a copy of one's Credit Score after you have signed the Credit Agreement for their Property Mentor Course not before, then you get told by one of their staff on their Financial Team that they can not help you! I did say to Peter Franklin that an Estate Agent did tell me that one needs to be earning about £25,000 per year to be able to get a Buy To Let Morgage. This was back in 2009 but he said 'No we are different we can get you a Mortgage'!

I think if they can not help people, which is really/partly a Miss-selling of the course and the Credit Agreement they should let you go and not pursue any more monies. I did not get anything out of the course and still can not understand their system/methods for buying property! They teach buying property via No Money down then re-mortgaging, but I don't get it!

It seems I am not the only person to have trouble with this Company who are now threatening me with Court Action etc with nasty letters from DebtSolve. If you look further up the threads, It was actually Steph who started this thread who has also had trouble with Property Mentor/Reality Expansions but I don't know what has happened to her. I don't know if she did get taken to court, is still fighting them or just paid them off, just don't know as there are no more entries after July 2013 so it makes one wonder? Two years ago I did actually put my case to Property Mentor in writing saying that I would not pay them anymore money and then after a few threatening letters from them and demands for payment did not hear anything at all for two years, until very recently in the last two months! In fact I was hopping that they had stopped trading. It would be interesting to know how many other delegates who signed up for the Course have stopped paying them.

I did go to my local Citizens Advice Bureau but they were unable to advise me whether I should just let this 'outfit' take me to court or try and pay them. I wouldn't be too happy if I pay them off and then find out in the next few months that they had gone into Administration or Liquidation or whatever it is called! I know there have been in the past a few similar dodgy Companies offering help to buy property and courses that have gone to the wall, like Inside Track or something I think!

I think I will have to write a letter of 'Dispute' to DebtSolve as they are getting evil because they know that I own the house that I live in and consider this an asset and I don't want a 'charge' or whatever it is called put on my property. They can't make me sell my property can they? Only as I live in a bit of a deprived area in Lincolnshire I am stuck in Negative Equity. I bought my house back in 2007 and all the house prices have gone down since then!

I have not looked at the contents of the Black Zip Up Folder in a while but I will do within the next couple of days then I will let you know what is in there!

Thanks.

[PlanB]

Re: Could do with some advice, please

I bought my house back in 2007 and all the house prices have gone down since then! .

I bet you won't find that premonition in their black zip folder :lie:

[PlanB]

Re: Could do with some advice, please

It seems I am not the only person to have trouble with this Company who are now threatening me with Court Action etc with nasty letters from DebtSolve. If you look further up the threads, It was actually Steph who started this thread who has also had trouble with Property Mentor/Reality Expansions but I don't know what has happened to her. I don't know if she did get taken to court, is still fighting them or just paid them off, just don't know as there are no more entries after July 2013 so it makes one wonder? .

I think you need to have a thread of your own. When I've given some thought as to which section your story belongs I'll ask Admin to move it :typing: Although you are definitely most *Welcome* on LB, this tale of woe will get more attention if it's in a section designated to your kind of problem not the general Welcome threads

[labman]

Re: Could do with some advice, please

I think you need to have a thread of your own. When I've given some thought as to which section your story belongs I'll ask Admin to move it :typing: Although you are definitely most *Welcome* on LB, this tale of woe will get more attention if it's in a section designated to your kind of problem not the general Welcome threads

Excellent! I look at the Welcome Threads pretty much every night, and have kept thinking this needed moving, but like you I have been unsure where to suggest admin move it.

So to clarify, the clients are asked to sign a credit agreement to loan how much? This is approved before any credit check has been carried out, and clients are expected to provide their own credit report?

Is this not irresponsible lending? I'm sure there's a myriad of other significant issues here as well.

[PippaApple]

Re: Could do with some advice, please

Yes, Labman, it is indeed irresponsible lending, but they don't seem to care as long as they grab money off people! People have the choice of paying upfront, that is the whole £8000 or if they can not afford to do that they can sign the Credit Agreement to pay monthly - which in my case was £100 per month! You have to pay a deposit of about £500 first, so an Agreement to pay back £7,500. I was supposed to get a discount for signing at the Free Taster Session but I was mislead. No they do not check one's Credit Score before getting you to sign up! I had to pay to get a copy of my Credit Score from Experian I think it was; they did not do this for the delegates for free, no!

[PlanB]

Re: Could do with some advice, please

kept thinking this needed moving, but like you I have been unsure where to suggest admin move it.

I tend to view Welcome threads as the *triage* of Legal Beagles.

Assess the problem and then admit the OP to the appropriate ward

[PlanB]

Re: Could do with some advice, please

it is indeed irresponsible lending, but they don't seem to care as long as they grab money off people!

There's a fine line between irresponsible lending and irresponsible borrowing.

My gut reaction is that this may be about broken promises. Perhaps that's because I'm a woman reggers: I suspect it'll be down to contract law. They made you an offer. You accepted the offer. Money changed hands. Did they deliver what they offered

I think we should start at the end. Can you tell us the situation with DebtSolve the DCA which is chasing you. If there is any threat of legal action you should take this seriously. Maybe a letter telling them the account is in dispute while you seek legal advice would be good, but you need to update us on the debt status first.

[labman]

Re: Could do with some advice, please

Also, if you signed an agreement, it would be helpful to see a redacted copy of it if possible. :beagle:

[PippaApple]

Re: Could do with some advice, please

Sorry what is a redacted copy of an agreement? I am still searching high and low for the copy of the agreement I should have been given but can not find it. I have asked Reality Expansions to send me a copy but whether they will or not I just don't know. They must have my signed copy somewhere!

Yes it is partly about broken promises and also the cost of the course being extortionate and really not worth the money they are charging. It is not like when you get a loan for something 'concrete' that you can see and touch like a washing machine or a new car or a new kitchen for example. This loan was for something rather vague in the form of information/learning! Also it is called Property Mentor so you would think there would be some Mentoring involved, i.e more on a one to one basis with perhaps someone ringing up the delegates from time to time, keeping in contact with them to see how they are getting on with regard to Property. I thought a Mentor was supposed to help and encourage or help train someone. Also they advertise gaining an NVQ in Property/Letting/Buying Property etc, but there was no mention of this when I attended the course from Mathew Lauchlan.

[PlanB]

Re: Could do with some advice, please

This loan was for something rather vague in the form of information/learning! Also it is called Property Mentor so you would think there would be some Mentoring involved, i.e more on a one to one basis with perhaps someone ringing up the delegates from time to time, keeping in contact with them to see how they are getting on with regard to Property. I thought a Mentor was supposed to help and encourage or help train someone .

You've been watching too much of The X Factor. Can Gary Barlow really make you sing or just bring out the best in you? On that basis I should recover all the school fees I paid for my daughter who didn't get good *A* Level grades.

Stick to the legal facts. Get hold of a copy of the original agreement.

[PippaApple]

Re: Could do with some advice, please

The last letter I received from DebtSolve was dated 04 October 2013 says:-

Dear Miss.................

Regarding Fixed Term Loan arrears to Reality Expansion Group Ltd

Arrears including late payment and collection charges:

Unless your remittance for £7503 is received in this office made payable to Debt Solve UK Ltd by no later than 12 noon on 11/10/2013, we will advise our Client to issue Legal Recovery Proceedings against you without further notice. Should it prove necessary to issue Legal Recovery Proceedings, a claim will be made for both fixed Court costs together with interest at a rate of 11.9% pursuant to the terms of the loan agreement.

Take Notice - we are aware you have a financial interest in
...........my property address...................................

If the debt remains unpaid following court action solicitors will apply for a charging order to secure the debt, substantial additional cost and charges will be added to your debt as the law directs.

Should you be in any doubt as to your legal or financial position with regard to payment of the sum due, we suggest that you seek independent advice.

Your remittance is awaited accordingly to conclude this matter.

Please contact Debt Solve UK Ltd

Yours sincerely,


Debt Solve UK Ltd.

[labman]

Re: Could do with some advice, please

A redacted agreement is a copy of the agreement signed for the fixed sum loan with all personal details removed - anything which could identify you, name, address, account number, reference number etc...:beagle:

[CleverClogs]

Re: Could do with some advice, please

You've been watching too much of The X Factor. Can Gary Barlow really make you sing or just bring out the best in you? On that basis I should recover all the school fees I paid for my daughter who didn't get good *A* Level grades.

Not to mention all the money you've paid to the "beauty parlour". :behindsofa: