Credit Issues Limited

greystonesben

~Brock~ wrote: »

Charging up front fees on the basis of speculative claims and part owned by a legal firm?

Thats a very distorted view you have there Brock. You are implying that CI charge upfront fee's on speculative claims and keep the upfront money if the claim is unsuccessful, which is simply not the case. The upfront fee is only kept if there is something in the claim. If the claim is unsuccessful, then the upfront monies (-£50 per agreement to cover the solicitors time spent on the case and administrative fee's so far) are returned to the client.

*Chattie*

greystonesben wrote: »

Thats a very distorted view you have there Brock. You are implying that CI charge upfront fee's on speculative claims and keep the upfront money if the claim is unsuccessful, which is simply not the case. The upfront fee is only kept if there is something in the claim. If the claim is unsuccessful, then the upfront monies (-£50 per agreement to cover the solicitors time spent on the case and administrative fee's so far) are returned to the client.

Lost me there, you have upfront fee of £50 so how much are the upfront monies you now talk about that will be returned less £50

Isn't funny how the new members who post about such a company always have a friend who has been successful but the friend never appears.

petermb_2

greystonesben wrote: »

Thats a very distorted view you have there Brock. You are implying that CI charge upfront fee's on speculative claims and keep the upfront money if the claim is unsuccessful, which is simply not the case. The upfront fee is only kept if there is something in the claim. If the claim is unsuccessful, then the upfront monies (-£50 per agreement to cover the solicitors time spent on the case and administrative fee's so far) are returned to the client.

So just charge £50 then, if that is how much it costs to vett the case. You stated that that is how much it costs. Charge the £50, identify that there is a claim and then charge the client to proceed

But they cant do that because part of that up front fee pays you agents doesnt it?

sombrero

This company have a number of agents working for them. They will be working on commission. If the company gives back the £400 to the client does this mean that the agent has to give back the commission earned.

I am sorry but I do not accept what Greystoneben says. His company offer No Win - No Fee. Therefore there is no need to take any money from the client upfront. I can understand taking a few pounds for the SAR and just to open a file but say £10.00 is the max they should take.

Notice how he is unable to support his companies misrepresentation.

greystonesben

*Chattie* wrote: »

Lost me there, you have upfront fee of £50 so how much are the upfront monies you now talk about that will be returned less £50

Isn't funny how the new members who post about such a company always have a friend who has been successful but the friend never appears.

The upfront fee's are £450 for the first agreement and £150 per agreement there after, so 3 agreements would be £450 + £150 + £150. The refund you would receive if all cases were deemed enforcable would be £400 + £100 + £100.

Hope that makes sense

greystonesben

petermb wrote: »

So just charge £50 then, if that is how much it costs to vett the case. You stated that that is how much it costs. Charge the £50, identify that there is a claim and then charge the client to proceed

But they cant do that because part of that up front fee pays you agents doesnt it?

To be honest, the amount of work done on a case can vary and I would imagine that the majority of the time, the £50 doesnt even cover the costs when you consider how much time would be spent on the case up until that point.

Yes the upfront costs contribute towards commission, however, this is clawed back if the case is unsuccessful too. Neither CI or their agents earn a penny from cases which do not go through.

And Peter, you failed to answer an earlier question...

*Chattie*

So you do work for them :rolleyes:

Why not be honest about it instead of pretending, isn't doing the company many favours you know.

greystonesben

sombrero wrote: »

This company have a number of agents working for them. They will be working on commission. If the company gives back the £400 to the client does this mean that the agent has to give back the commission earned.

I am sorry but I do not accept what Greystoneben says. His company offer No Win - No Fee. Therefore there is no need to take any money from the client upfront. I can understand taking a few pounds for the SAR and just to open a file but say £10.00 is the max they should take.

Notice how he is unable to support his companies misrepresentation.

What is your problem Sombrero?

I have explained in english what the 'No win, no fee' comment relates to. If you still dont understand it, may I suggest you ask someone to read it for you and explain it in conversation. It may be the way you are reading it.

Why would a company who actively seek approval for the way they market and infact trade from the MOJ be so stupid to promote something which is misleading and incur a £50k fine and possibly stand to lose their licence?!

The reason why CI charge upfront fee's is to protect the work they do on a case.

In lament terms, imagine you build a brick wall for someone, you put in hours of work and cost yourself money with materials, then the day of completion arrives and another firm puts the last brick on and takes all credit and payment for the wall. You would be a little miffed yes? It is a similar version of this to why CI charge fee's.

It is to stop CI doing all the leg work for the client to take that leg work and use it at the last point without having to pay CI, or the client instructing more than one firm and playing them off against each other completing with the quickest one.

greystonesben

*Chattie* wrote: »

So you do work for them :rolleyes:

Why not be honest about it instead of pretending, isn't doing the company many favours you know.

Chattie, may I suggest you reading the thread before implying other people are 'pretending' or 'lying'. You only make yourself look foolish.

I have not claimed to 'not work for them' and infact I believe somewhere in this thread I have said I do work with them.

Must.try.harder :rolleyes:

*Chattie*

greystonesben wrote: »

Firstly, before I get scrutinised for being a newby by the regulars who appear to get a kick out of being a forum messiah, I would like to state that at present, I do not work for Credit Issues, although it is something I am considering like a previous poster.

I am currently considering becoming a rep for CIL, I am eager to see the result of these test cases and do not believe it is a scam. I know it is not.

Anyone considering the services of CIL should make their own informed decision. Just read the T&C's. Yes some of the posts may have been 'plants' but equally they may be genuine. You dont have to take the advice of some jumped up internet know it all who would easily be able to do it all himself/herself, so therefore assume everyone else can do it all too!

must.try.harder as I must of missed the post where you say you do work for them :rolleyes: