loancheck/solicitors claiming ppi

marshallka

petermb wrote: »

Quite

Four senarios

One) Lender settles. Solicitor wins his costs. (client celebrates)
two) Case goes to court and fails. Solicitor claims the costs from the After the Event Insurance. (client not out of pocket)
three) case does not start (It appears the majority of claims. Solicitors simply have not run them for whatever reason), Solicitor Claims back the fees that have been paid by the funder from Loancheck/Severn. (client not out of pocket)
four) No Severn/Loancheck to repay the money.

That is how the service was set up and supposedly backed by some £56million of funding by a subsidiary of one of the big four banks. That is the figure I was assured was in place.

So where has the £56 million gone then?

petermb_2

marshallka wrote: »

So where has the £56 million gone then?

Withdrawn when the bank pulled out of the deal, apart from the money that had already funded cases.

lesley65

hi all

just wanted to give a bit of an update

have spoken to my solicitor this afternoon, he has said that 4 out of the 5 cases of mine he is handling he is going to go ahead with, he his hopeful that within a month he will have made an appointment for us to meet (he is travelling to my home address) and he is hopeful that by mid april that he will have issued court proceedings. i didn't think to ask why the 5th claim was now a no goer but he did say that he is writing to me in due course to explain everything so hopefully it will state in the letter the whys and wherefores.

i will keep you updated when i have more info.

lesley x

marshallka

lesley65 wrote: »

hi all

just wanted to give a bit of an update

have spoken to my solicitor this afternoon, he has said that 4 out of the 5 cases of mine he is handling he is going to go ahead with, he his hopeful that within a month he will have made an appointment for us to meet (he is travelling to my home address) and he is hopeful that by mid april that he will have issued court proceedings. i didn't think to ask why the 5th claim was now a no goer but he did say that he is writing to me in due course to explain everything so hopefully it will state in the letter the whys and wherefores.

i will keep you updated when i have more info.

lesley x

That is good news for you lesley. Did he say anything about the fees also? Glad he is putting it all in writing. This must mean that Watsons are now working on the claims back log perhaps.

lesley65

marshallka wrote: »

That is good news for you lesley. Did he say anything about the fees also? Glad he is putting it all in writing. This must mean that Watsons are now working on the claims back log perhaps.

lets hope so, no he didn't say anything about any fees, i'm hoping that all this will be in the letter but when we have our meeting i will certainly challenge having to repay the audit fee using the advise and comments from this site and see what he has to say. hopefully things are now moving forward and i won't be posting up something different in 6 months saying i still haven't heard anything, although nothing would surprise me anymore.

lesley x

maxdp

lesley65 wrote: »

lets hope so, no he didn't say anything about any fees, i'm hoping that all this will be in the letter but when we have our meeting i will certainly challenge having to repay the audit fee using the advise and comments from this site and see what he has to say. hopefully things are now moving forward and i won't be posting up something different in 6 months saying i still haven't heard anything, although nothing would surprise me anymore.

lesley x

Really pleased for you Lesley. Hope it all works out for you.

THOMAS123

petermb wrote: »

Quite

Four senarios

One) Lender settles. Solicitor wins his costs. (client celebrates)
two) Case goes to court and fails. Solicitor claims the costs from the After the Event Insurance. (client not out of pocket)
three) case does not start (It appears the majority of claims. Solicitors simply have not run them for whatever reason), Solicitor Claims back the fees that have been paid by the funder from Loancheck/Severn. (client not out of pocket)
four) No Severn/Loancheck to repay the money.

That is how the service was set up and supposedly backed by some £56million of funding by a subsidiary of one of the big four banks. That is the figure I was assured was in place.

An scenarios.

Client loses case, Loancheck fee not covered by the ATE policy, client responsible for fee, Lender chases client for money.

Client wins case, Loancheck fee not paid by Lender, fee not covered by ATE policy, solicitor has to pay.

marshallka

THOMAS123 wrote: »

An scenarios.

Client loses case, Loancheck fee not covered by the ATE policy, client responsible for fee, Lender chases client for money.

Client wins case, Loancheck fee not paid by Lender, fee not covered by ATE policy, solicitor has to pay.

I wonder who's senario's come out correct if any!!!!!

lesley65

THOMAS123 wrote: »

An scenarios.

Client loses case, Loancheck fee not covered by the ATE policy, client responsible for fee, Lender chases client for money.

Client wins case, Loancheck fee not paid by Lender, fee not covered by ATE policy, solicitor has to pay.

Hi Thomas

my money is on one of your scenarios as it looks like mine will be the 2nd of your choices, only it will be me paying not the solicitor.

lesley x

marshallka

lesley65 wrote: »

Hi Thomas

my money is on one of your scenarios as it looks like mine will be the 2nd of your choices, only it will be me paying not the solicitor.

lesley x

There was trouble obtaining the data wasn't there some time ago so things must have changed here too. That must be good for others as well. That was the hold up some time ago.