Urgent advice required in relation to non payent of secured loans

[brazil.investor]

Hello to all members of Residential Landlord.

I have been looking for somewhere to speak to other property investors in the UK and found this website on google.

I am looking for some advice regarding a situation I have with a certain company based in the UK.

I am an investor based in Brazil and had been interested in investing in the UK property market for some time. After searching on google I came across a company which at this point I will not name. This company were requesting cash rich investors like myself to help fund their property purchases and also an investment service where I would have a small portfolio build for me.

After several conversations and correspondence with the company I agreed to lend two sums of money secured against property on 1st charges. I was then contacted by the company again who asked if I could "help them out" and lend two smaller amounts as they desperately needed the money for refurbishment projects and these were to be secured on two separate second charges with a monthly interest to be paid every month.

After lending this money I decided I would like to build a small portfolio over in the UK so I again sent over another sum of money for this, which I was promised a return every month until the first property was obtained.

The smaller loan which I was due to receive interest on I haven't received one payment for, the interest on the investment money I haven't received any interest on.

Unfortunately after lending this money I then got some bad news around 8 weeks later relating to my health and I would need the money back to support the treatment I would be undergoing. As per the contracts on the loans I requested the monies be paid back and gave the appropriate notices for this to happen. Unfortunately after 4 weeks nothing had happened, I then had direct contact with this company who made promises for deadlines for the money to be returned and also suggested that I forfeit all of the interest due to help speed things up. I have had countless promises made regarding dates for the money to be returned and none of them have come true, this has now been going on for two months and I have still received nothing.

I am really looking for any advice on how I can recover this money and if anyone has had similar problems with any companies in the UK and how they resolved the issue.

I have tried using the solicitor to issue notices and default notices but this doesn't seem to be working either, I don't know if this is because the solicitor who I used was appointed to act on my behalf by the company I lent the money to.

I have contacted 2 former employers of this company to ask for information on the company which I can use against them and to post on every property forum there is to stop anybody else being subjected to this. This is not the route I want to go down but I have nothing to lose and no reputation to worry about unlike the gentleman in question.

Thank you in advance for any help.

Brazil.Investor

[Creditsure]

Unfortunate situation really and it sounds like you need to act sooner rather than later. There has been a dramatic downturn in the UK housing market resulting in misfortune for the majority of property investment companies.

You are probably best enlisting the services of a highly reputable Debt Recovery Agency such as Federal Management who will work on a 'no collection - no commission' basis.

www.FederalManagement.co.uk

There is a nominal admin fee and this suprisingly covers all initial checks and fact finds as well as all actions to recover your monies. Far more cost effective that Solicitors. The other alternative is employing the services of another impartial Solicitor or Law Firm but quite often its like writing a blank cheque and you may find it cost you alot more than you thought to try to get your money back.