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  • FIRST POST
    • kencharlton
    • By kencharlton 29th Mar 18, 10:50 AM
    • 4Posts
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    kencharlton
    Store First Petition
    • #1
    • 29th Mar 18, 10:50 AM
    Store First Petition 29th Mar 18 at 10:50 AM
    Doe anyone have information on Store first and why the government are trying to wind them up , please?


    kind regards ken
    Last edited by kencharlton; 29-03-2018 at 11:00 AM. Reason: remove data
Page 1
    • dunstonh
    • By dunstonh 29th Mar 18, 11:08 AM
    • 92,639 Posts
    • 59,952 Thanks
    dunstonh
    • #2
    • 29th Mar 18, 11:08 AM
    • #2
    • 29th Mar 18, 11:08 AM
    It was effectively a scam.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • kencharlton
    • By kencharlton 29th Mar 18, 11:31 AM
    • 4 Posts
    • 0 Thanks
    kencharlton
    • #3
    • 29th Mar 18, 11:31 AM
    • #3
    • 29th Mar 18, 11:31 AM
    very useful thank you
    • dunstonh
    • By dunstonh 29th Mar 18, 11:50 AM
    • 92,639 Posts
    • 59,952 Thanks
    dunstonh
    • #4
    • 29th Mar 18, 11:50 AM
    • #4
    • 29th Mar 18, 11:50 AM
    There are some old threads on this site you may wish to look at. We were saying for years that it was a scam. Like most scams, the authorities are slower to react. However, even before it was recognised as a scam, it was discussed in this forum that it was a very high-risk unregulated investment that could be a scam.

    This thread started in 2012:
    http://forums.moneysavingexpert.com/showthread.php?t=3866319
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • kencharlton
    • By kencharlton 29th Mar 18, 12:11 PM
    • 4 Posts
    • 0 Thanks
    kencharlton
    • #5
    • 29th Mar 18, 12:11 PM
    • #5
    • 29th Mar 18, 12:11 PM
    I do have store pods which do exist and I have made some returns on them being rented out , so not really a scam.
    They just do not provide the returns you are expecting . Plus up until the GOV stuck the Petition on them I was about to get my investment back , or so they said . Now I have no chance .
    • dunstonh
    • By dunstonh 29th Mar 18, 12:28 PM
    • 92,639 Posts
    • 59,952 Thanks
    dunstonh
    • #6
    • 29th Mar 18, 12:28 PM
    • #6
    • 29th Mar 18, 12:28 PM
    I do have store pods which do exist and I have made some returns on them being rented out , so not really a scam.
    Getting some returns before the thing collapses does not mean it avoids being called a scam.

    There was a general feeling early on that they were using money being invested to pay the money out rather than the income from the storage.

    They just do not provide the returns you are expecting
    Which is a scam when they guaranteed to pay a certain amount and dont do it. It is also a scam when they do not return the money for those pulling out. It is also a scam when the breach regulatory rules on pension transfers.
    lus up until the GOV stuck the Petition on them I was about to get my investment back , or so they said . Now I have no chance .
    People weren't getting their money back long before the authorities got involved. Excuse after excuse given. Yours is just another one.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • marlot
    • By marlot 1st Apr 18, 9:36 AM
    • 3,423 Posts
    • 2,541 Thanks
    marlot
    • #7
    • 1st Apr 18, 9:36 AM
    • #7
    • 1st Apr 18, 9:36 AM
    https://www.telegraph.co.uk/tax/news/investors-top-gear-presenters-notorious-storage-pod-scheme-face/?li_source=LI&li_medium=li-recommendation-widget
    • redpete
    • By redpete 1st Apr 18, 10:48 AM
    • 4,239 Posts
    • 3,775 Thanks
    redpete
    • #8
    • 1st Apr 18, 10:48 AM
    • #8
    • 1st Apr 18, 10:48 AM
    Plus up until the GOV stuck the Petition on them I was about to get my investment back , or so they said .
    Originally posted by kencharlton
    'they' being Store First presumably, the ones who didn't provide returns that they promised, the ones who failed to honour commitments about paying up to many people.
    Now I have no chance .
    Not sure you ever had a realistic chance.
    Last edited by redpete; 01-04-2018 at 10:59 AM.
    loose does not rhyme with choose but lose does and is the word you meant to write.
    • PeacefulWaters
    • By PeacefulWaters 1st Apr 18, 11:18 AM
    • 8,320 Posts
    • 10,638 Thanks
    PeacefulWaters
    • #9
    • 1st Apr 18, 11:18 AM
    • #9
    • 1st Apr 18, 11:18 AM
    Plus up until the GOV stuck the Petition on them I was about to get my investment back , or so they said . Now I have no chance .
    Originally posted by kencharlton
    Don't delude yourself. You never had any chance.
    • Malthusian
    • By Malthusian 1st Apr 18, 6:26 PM
    • 4,112 Posts
    • 6,446 Thanks
    Malthusian
    You were never going to get your investment back. 100% was lost the moment you handed it over.

    This is Classic Scam Excuse no. 1. Whenever a scam collapses the scammers invariably:

    1. Blame the government - "If the government hadn't shut us down everything would have been fine"
    2. Blame the media - "If the media hadn't printed lies about us we would have been able to refinance and everything would have been fine" ("refinance" in this case = "find new investors to pay the old ones with")
    3. Blame the victims - "If the investors hadn't been greedy and tried to take their money out everything would have been fine"

    All of this is, of course, BS. The only people to blame for the collapse of a failed investment are a) those who orchestrated a supposed investment where there was no external revenue source to meet payouts b) those who took out more than they put in, which in a scheme with no external revenue inevitably means they are stealing other investors' money. A) and B) are of course the same people.

    Who fed you the line that it was anything to do with the winding up petition, which is nothing more than the Government sweeping up the debris?
    • molerat
    • By molerat 1st Apr 18, 6:37 PM
    • 18,598 Posts
    • 12,746 Thanks
    molerat
    And now the taxman may come after you as well !
    www.helpforheroes.org.uk/donations.html
    • kencharlton
    • By kencharlton 15th May 18, 11:41 AM
    • 4 Posts
    • 0 Thanks
    kencharlton
    Looks like I must play dirty LOL
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