Debt-Less? More like Clue-Less

[mufc1959]

I think it's worth starting a separate topic for Steve Knight and his money-making scheme known as Debt-Less. The premise appears to be that he tells people they aren't in debt, offers them mentoring at £400 an hour, as well as paid-for letters to ask for a DSAR (which, apparently, is the key to unlocking the scam the 'agents' have perpetrated on the victims) as well as drafting replies to court documents. Inevitably,when it doesn't work, it's because they've not done their research properly.

There's a Debt-Less Facebook Group (members only), as well as a website, https://www.debt-less.co.uk/, that doesn't seem to have been updated for a while. Although it's referred to as a LLC, I doubt very much if it's registered with HMRC. I expect all payment for services rendered is done via PayPal or direct bank transfer.

The mission statement on the FB page is delusional and dangerous.

Steve Knight shared a link.

Greetings to this afternoon's 114 new members.

Quite simply, you are not in debt, there is no fight, and there are no processes or templates in this forum. There is nothing like Debt Less on earth, it is unique. Any preconceived notions should be left outside this forum, Debt Less is intelligent and highly successful.

Our mission is to educate mankind as to the heinous nature of the illusionary debt and Ponzi scheme that is the Banking and Legal system which supports a few elite psychopaths at the capstone. Please spread this message far and wide by informing your friends, inviting your friends to this platform and your online community at www.debt-less.co.uk. Only by education will mankind be pulled from the depths of mind control that is work, debt and servitude.

For those who wish to succeed and better their lives for themselves and their families, you shall soon discover Debt Less is the only platform where you may find information with respect to;

1. Continual success within the Banking and Legal system in England and Wales since the inception of both, used purely to maintain your enslavement and that of mankind, as are their continual lies and deceit.

2. The fact you are not in debt to any financial institution, and with every relationship an express trust exists. You are not a debtor, customer, borrower or mortgagor - you are a beneficiary. Many of you will struggle with cognitive dissonance and will simply fail to comprehend this at first, or may never comprehend, equity aids the vigilant however, and not those that slumber on their rights.

3. The fact you do not use money. Cash is not money, it is legal tender, and in no way money. Cash is diametrically opposed to money. You do not take out money from a cash point, you take cash.

4. If you have any CCJ these can be set aside and compensation obtained from the claimant - we require a copy of the N1 claim form and judgement in order to assist you, these may be obtained from the respective court by pdf / email / telephone request for free.

5. If you have used DD with any utility, CT, mortgage, personal finance, vehicle finance, TV Licence, or business finance you are due immediate refunds on these accounts - search the group to find out why and request a DDR from admin.

6. You may see our announcements section for the main topics and to commence your learning.

7. You may use the search facility in the group banner to answer your questions, the information is there if you take the time to look. If you ignore this point, all you will do is take the time of others you have no entitlement to, that is inequitable and unconscionable.

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11. You shall discover resounding successes when dealing with the Banking cartels and mind control construed by their agents. Our style of delivery is also unique, we do not have time to flower responses with niceties, the information is direct and intelligent, there is a reason for this, as those that have the opportunity to discover will realise.

12. We use acronyms for efficiency - see our files section for a list. Do not ask what something means without using the search bar first, all you are doing is proving your indolence. Use the search icon in the group banner as you would do Google.

13. The use of proper English is required when posting, text speak will be immediately deleted, bad grammar corrected, foul language blocked and the poster removed. Words and terms are everything here, your membership is a gift from admin, so consider that gift equitably and respect it, abuse it, and you will lose it, it's that simple.

14. If you have suffered Bankruptcy, IVA, DRO, CCJ, made payments to any DCA, no matter what you have been through, there is relief and restitution available here within any of our about us topics.

15. Courses and weekly webinars are available for online training and mentoring services directly with admin. These platforms, along with private mentoring by admin are unmatched anywhere in any University, book, website or other Facebook Group. Please be patient when awaiting a response from admin.

16. Our information is strictly private and confidential. Any member using our data and information for the purposes not intended here, and without admin's express permission may be subject to further action which may include injunctions and enforcement.

17. As a footnote, Debt-Less also offers a unique solution to s.172 Road Traffic Act 1988 notices ("speeding tickets" to the layman) for which we have a 100% success record in this area. We only assist at the s.172 stage where the driver details are requested by the agent ("Police" to the layman).

We do not advocate dangerous driving or speeding, but we do advocate driving equitably, responsibly and with courtesy to other road users and within the RTA. If you do however find yourself in a situation where you have received a s.172 notice, please PM admin directly with a copy of the notice so you may receive payment details (£250) and be given the information to have the notice cancelled.

No legal idiot (Solicitor or Barrister) comprehends what is actually occurring in the Magistrates' Court, not even 'Mr Loophole', the aptly named Nick Freeman himself - they do after all only 'practice' law. Here at Debt-Less we do comprehend the sleight of hand and deceit the legal system uses, and are able to annul any s.172 notice in less than 10 mins, without any Court appearance whatsoever.

Please do not request points removal or assistance if the s.172 notice has progressed to court or a single justice procedure notice, we are primarily a debt forum and simply have no inclination to be dealing with Magistrates' Courts even though the former is possible.

Enjoy your journey.

Regularly, new punters post in the Facebook group, worried sick about their first experience of being in debt, and the first thing they're told is "You're not in debt. Do your research." Baffled by this nonsense, they're then told they need to book in for mentoring at £200 for half an hour.

Taking money from people who have none, selling them snake oil and making things much worse for them, then blaming them for not 'doing the research' when it all goes pear-shaped is disgraceful.

Although he claims on the website not to be undertaking any reserved legal activity, he's actively engaged in drafting pleadings, for which I would assume he is expecting payment.





Not only does Steve Knight-in-Rusty-Armour know all there is to know about cancelling consumer debt (which will only be shared with you at an eye-watering hourly rate that would actually buy you some decent legal advice), he's also an expert on cancelling Capital Gains Tax and Inheritance Tax.



This advice is just downright reckless.



I don't know if I'm the only sockpuppet hanging around in the Facebook group, but I think this is someone who needs to be kept an eye on.

[John Uskglass]

Any member using our data and information for the purposes not intended here, and without admin's express permission may be subject to further action which may include injunctions and enforcement.

the Banking and Legal system in England and Wales since the inception of both, used purely to maintain your enslavement and that of mankind, as are their continual lies and deceit.

What was that about cognitive dissonance again?

[The Observer]

Regularly, new punters post in the Facebook group, worried sick about their first experience of being in debt, and the first thing they're told is "You're not in debt. Do your research." Baffled by this nonsense, they're then told they need to book in for mentoring at £200 for half an hour.

Taking money from people who have none, selling them snake oil and making things much worse for them, then blaming them for not 'doing the research' when it all goes pear-shaped is disgraceful.

More than disgraceful, this is outrageous. This is simply preying on people who may be at their wits' end in trying to resolve severe financial difficulties. Such people may be at the point that they are willing to listen to anyone who can promise them resolution. The behavior of taking money from them that could have been used to resolve some debt is calculated predation. Of course, some of the marks are probably greedy idiots who may not be in any financial trouble, but think this is a great way to get out of their responsibility.

[JamesVincent]

Any member using our data and information for the purposes not intended here, and without admin's express permission may be subject to further action which may include injunctions and enforcement.

the Banking and Legal system in England and Wales since the inception of both, used purely to maintain your enslavement and that of mankind, as are their continual lies and deceit.

What was that about cognitive dissonance again?

Well, according to all my sources the Rothschild family owns all the UK banking anyway. And London. And the federal reserve. And Swahili. Probably Guam too. Vatican City also since the Catholic Church is just a front for the shape shifting lizard people running the NWO. You down with OPPT?

[letissier14]

Maybe I should have used a different user name

Hi letissier14, we regret to inform you that your member account at https://www.debt-less.co.uk has been denied...

[Gregg]

A twenty pound note is not money, it is fiat currency and as such, is worthless.

This is TRUE! Not only that, but they also cause any number of ailments up to and including Minaj's Cousin's Friend's Swollen Balls Syndrome!

To avoid any chance of unforeseen dire circumstance, immediately send all you twenty pound notes, and tenners and fivers and fifty pound notes as well, to us and we will dispose of them properly.

WARNING!

Improper disposal of fiat currency is extremely hazardous, DO NOT TRY TO DO THIS AT HOME!

We'll handle your worthless, hazardous fiat currency for FREE! Yes, FREE!
Just send it, straight away to

The Chili Dog and Root Beer Fund for Pupperoni, Hookers and Blow
C/O Gregg
The Keith Richards Suite
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Bryanston St
London W1H 7EH

*Offer valid now through 31st December 2021.
Offer does not imply acceptance, donations are accepted only upon application being approved.
Not valid in Scotland, Norther Ireland or American Samoa, your mileage may vary, objects are larger than they appear in mirror.
Any damage or injury resulting from helicopter flying wiener dogs is strictly the responsibility of someone besides said wiener dogs and/or their hooman attendant

[The Observer]

The Chili Dog and Root Beer Fund for Pupperoni, Hookers and Blow

Pupperoni? I hope that is nothing to do with turning dachsunds into sausage.

[Gregg]

Oh hell no. Pupperoni is the preferred fuel of Assault Dachshunds. It is, to them, the very best way to dispose of worthless fiat currency.

[The Observer]

Ok, glad to see no puppies were harmed in the creation of this product.

[mufc1959]

This'll end well ...



Ah, no, sorry, it won't ...

[AnOwlCalledSage]

This'll end well ...

It could be that's he's been mis-sold his mortgage, as I suspect that having an interest only one with no repayment vehicle would be a tad reckless for a lender to offer without guarantees.

However, given that 25 years ago was after the mis-selling scandal, it's more likely that he's done a Crawford and just stopped paying on it.

[mufc1959]

25 years ago it was perfectly acceptable to say that the repayment vehicle was going to be the sale of the house. In fact, that was allowed right up until 2016, and now it's only permitted if strict criteria are met.

[AnOwlCalledSage]

25 years ago it was perfectly acceptable to say that the repayment vehicle was going to be the sale of the house. In fact, that was allowed right up until 2016, and now it's only permitted if strict criteria are met.

To be honest, given the rise in house prices, that's probably fair. As long as the buyer was told that if they didn't stump up the redemption cost, they'd have to find a new abode at the end of the mortgage, 25 years of below rental market rate "rent" is a bargain.

[mufc1959]

For at least the last 15 years all interest-only mortgage annual statements have to contain wording prescribed by the FCA warning that the mortgage is interest-only, payments made will not reduce the capital, that a separate repayment vehicle is required and that the borrower should regularly review any investment plan to make sure it's on track to repay the mortgage at the end of the term.

As I said above, the borrower saying the sale of the property was the repayment vehicle used to be fine. The problems are coming now where people bought or remortgaged at 85%-95% LTV between 2004-2007, when prices were rising at a ridiculous rate, and even if the value of their house has recovered somewhat from the financial crash it's still not gained enough in value to enable them to sell, repay the mortgage and downsize. So it's not that they didn't have a repayment strategy - they did, but it was a risky one and the risk hasn't paid off.

There were also loads of people who had low-cost endowment policies which were intended to repay the mortgage. Some borrowers (like the Crawfords) cancelled the policy early on without fully appreciating the implications further down the line. Others, having received the performance warning letters in the early 2000s, cashed in the policies and didn't then switch to a repayment mortgage (although they were given many written explanations of why they'd need to do this in the regulator-approved letters send at the time).

Lenders usually allow borrowers a year to sell, but this is dependent on the borrowers actively marketing the property, not just pretending to so they can stay there longer. We've had a lot of cases go to the Ombudsman, and not a single one has been upheld. The FOS's view, generally, is "You agreed to - and are bound by - this contract to pay only interest over the last X number of years and to pay off the capital at the end of the term. The contract has now come to an end, and so you have to repay the money. You can have another six months to sell the property or take financial advice on the options (remortgage, equity release, sale)."

And if as a last resort the lender has to take legal action, the court''s powers are very limited. Possession can only be suspended under the Administration of Justice Acts if the contract is still running and there are arrears that can be repaid over the remaining term. But where the term has already come to an end and the capital balance is due, the court has no power at all to suspend possession and is obliged to grant a possession order in favour of the lender. I think a lot of borrowers don't realise this and think that the court will give them another 20 years to pay off the mortgage. Once the courts are open for business again, it's going to be a very rude awakening for many people.

I'm not unsympathetic - if there's not enough money left over after paying the mortgage off, then going into rented accommodation is a daunting prospect, particularly as many of these borrowers are at or reaching retirement age. But on the other hand, mortgage lenders are not in the business of becoming landlords to thousands of people who want to pay only the interest on the money they borrowed and never repay the capital. It's also not fair on borrowers who struggled over their mortgage term to make the higher payments on a capital repayment mortgage if they see all the borrowers whose interest-only mortgages have come to an end being allowed to stay in their homes without repaying the capital.

Our man above, however, is, it seems, about to get all his mortgage interest repayments back, plus 8% interest AND get to keep the house, courtesy of the (£400 per hour) help of our friends at Debt-Less.

[mufc1959]

Oops!

[mufc1959]

Another recipe for disaster.



For those who 'enquire here', the answer is 'PM me for mentoring'.

Mentoring is, I believe, £200 per half-hour.

[Hercule Parrot]

I'm not unsympathetic - if there's not enough money left over after paying the mortgage off, then going into rented accommodation is a daunting prospect, particularly as many of these borrowers are at or reaching retirement age. But on the other hand, mortgage lenders are not in the business of becoming landlords to thousands of people who want to pay only the interest on the money they borrowed and never repay the capital. It's also not fair on borrowers who struggled over their mortgage term to make the higher payments on a capital repayment mortgage if they see all the borrowers whose interest-only mortgages have come to an end being allowed to stay in their homes without repaying the capital.

I don’t have much sympathy for homeowners who have ignored the under-performance of their endowment policy, especially those who cancelled the policy long ago, aka "Doing a Crawford". We bought our home with an endowment mortgage back in the 90's, and as you say there were ample, very clear warnings in the early 2000's. It was absolutely clear that the endowment alone would not be sufficient to repay the capital. We all received those lurid red/amber warning letters, frequently. It was in the news, and a topic of conversation for anyone who had bought a home or was planning to do that.

Important to remember that the sums involved were not huge in the context of inflation. By the end of the mortgage term, our joint annual income exceeded the capital we had borrowed 20+ years previously. This was not an insoluble crisis, people just needed to put aside a little more over the decades. We chose to make periodic early repayments, at very modest sacrifice to our quality of life, and when our mortgage ended earlier this year the endowment fully met the remaining debt. Other responsible homeowners established a second investment or savings plan, or planned to make a downsizing move as retirement approached. I know people who sold their large "empty nests" and moved to smaller, easier-maintained homes without any difficulty.

Homeowners who did nothing deserve little sympathy. They chose to spend that money on having fun, they refused to take responsibility for their own lives and needs. They made stupid rationalisations - "Well it's the bank's problem really, they told us the endowment would pay for everything so they'll have to work out a solution. They can't just throw us out on the street." Now their Betty's are coming home to roost, and I have the world's smallest violin ready here.

But.... I'm still going to argue that the lenders should find a way to keep them in their homes. There's a significant social cost to displacing thousands of near-retired homeowners - most people struggle with unwanted change, and older people generally have less resilience or options available. The rental market is overstretched anyway, so it just swaps one problem for another. I think lenders should offer an equity release plan, or allow the mortgage to be extended and recover outstanding debt at death, from the ample value of the home.

I don't see how this is 'unfair' to responsible homeowners. We who made sensible plans now truly own our homes, which are generally much more valuable than when purchased. We own that wealth, and we can use it as we wish. Importantly for many people, we want to help our children "get a foot on the ladder" for example. Maybe we'll downsize to release capital for exotic holidays, live on a chic houseboat or buy the quotidian Dunroamin bungalow in Hastings. We have all those choices, and at the end of it all, we'll leave some inheritance for our children and grandchildren. In my view this is a sufficient and tangible difference from our Crawfordian neighbour.

[AnOwlCalledSage]

I think lenders should offer an equity release plan, or allow the mortgage to be extended and recover outstanding debt at death, from the ample value of the home.

This is in fact what the Nationwide did for me in 2014 when I got into a little difficulty. They wouldn't let me re-mortgage because of the income rules, but they did extend the mortgage until I was 75 which had the effect of halving my monthly payments, kept their books and my credit clean and allowed me to sell the property in a timely fashion, not a fire sale.

I think most mortgage companies will try to help... unless you have shown a wilful refusal to co-operate.

[Hercule Parrot]

I think it's worth starting a separate topic for Steve Knight and his money-making scheme known as Debt-Less. The premise appears to be that he tells people they aren't in debt, offers them mentoring at £400 an hour, as well as paid-for letters to ask for a DSAR (which, apparently, is the key to unlocking the scam the 'agents' have perpetrated on the victims) as well as drafting replies to court documents. Inevitably,when it doesn't work, it's because they've not done their research properly.

....

I don't know if I'm the only sockpuppet hanging around in the Facebook group, but I think this is someone who needs to be kept an eye on.

This fellow is a spectacular, predatory fraudster - I wonder how many £200 "mentoring fees" he will extract from stupid, desperate people as their lives circle the drain. Doesn't seem implausible that he'll scam a few thousand from each 'client' while encouraging them in recklessly self-destructive behaviour, and then blame them when it fails.

I don't understand why our financial and legal regulators are so passive in these cases. We saw this with Werebank, in all the time that scam was running (well over a year) I can remember only one rather nuanced concern being expressed by an official body. Regulators really need to be more active and aggressive in challenging this stuff.

Final point - can't help wondering if Steve Knight is actually Steve McCrae. We haven't heard from the Expert in Fuck All recently, and there's some similarities in the style.

[Hercule Parrot]

I think most mortgage companies will try to help... unless you have shown a wilful refusal to co-operate.

I hope so, and I'm glad that you had that flexibility. The key point is that nobody expects lenders to forego repayment in full, with all due interest. The ask is only that they reschedule this. Even if I hadn't repaid a penny of my endowment loan, the value of the home amply meets that. I can't see any rational reason why a lender can't put a charge on the property at Land Registry, and recover their full pound of flesh when I meet Binky.

Even for the 'wilful refusal to co-operate' borrowers, this seems an easier way to safeguard the lender's rightful interests. But I don't mind a few of the egregious offenders being repo'd - eg The Battle of Crawford Castle. If a borrower is contemptuous towards their lender and encourages others to follow, it is sensible (and entertaining) to make an occasional example.