Loancheck/Watsons Solicitors

marshallka

maxdp wrote: »

With the bribery and fraud are you meaning how much people were being paid to sell PPI alongside Loans. How they were given targets to meet each month so they got points towards holidays etc. Is that what you are meaning Peter?

I was on a jury once and it was to do with agents selling Life Insurance etc. These were two of the well known Insurance Companies. They took on Agents without checking their background etc. A lot of these people were ethnic minorities, would rent flats in different names and have bank accounts in different names. One Agent had 11 different bank accounts.

Anyway what they were paid to do as sell insurance for a commission. Their commission was paid into like a credit card account. What the Agents were doing was getting their vast families and friends to sign up for insurance, make a couple of monthly payments, just so the commission was paid into their accounts then they would cancel the insurance.

Now I am talking twenty five years ago here and they were getting paid about £150.00 for selling life insurance.

Maxdp, isn't that the opposite of what petermb was on about. I am confused here cause Petermb was on about the banks/finance companies (and from what I can tell also FOS and the FSA:eek:) fleecing consumers. This seems to be consumers/agents fleecing the insurance companies out of money or the firms?

maxdp

marshallka wrote: »

Maxdp, isn't that the opposite of what petermb was on about. I am confused here cause Petermb was on about the banks/finance companies (and from what I can tell also FOS and the FSA:eek:) fleecing consumers. This seems to be consumers/agents fleecing the insurance companies out of money or the firms?

I do not know about the FOS and the FSA though I understand the Banks pay them money to officiate. Perhaps it should not be connected in anyway. Saying that they do a good job helping out little ol us.

No what I am saying is that it is a bit like doctors being courted to sell drugs from big Pharmaceutical companies. They prescribe their drug and the doctors get a nice jolly in a 5 star hotel. The same way Vets are courted by companies like HILLS Science Diet who get in early when they are in training sponsoring this that and all else. Why do you think Vets "prescribe Hills Kidney Disease" food? To cure a condition that a lot of the time has been created by dried food in the first place.

My point is that there is a lot of bribery and under the table you scratch my back and I will scratch yours. The Insurance companies pay the banks to sell their product so which product are you going to sell to your client who has come in for a Loan. The insurance company that says thank you or the insurance company that gives you a nice big bonus. That is my point.

The rest of the court stuff I mentioned was just really to show how corrupt these insurance companies are or were. So are the banks for letting this practice go ahead.

If the bank staff did not get any money for selling PPI for example do you think they would have sold it?

There are lots of corrupt people out there I am afraid.

marshallka

maxdp wrote: »

I do not know about the FOS and the FSA though I understand the Banks pay them money to officiate. Perhaps it should not be connected in anyway. Saying that they do a good job helping out little ol us.

No what I am saying is that it is a bit like doctors being courted to sell drugs from big Pharmaceutical companies. They prescribe their drug and the doctors get a nice jolly in a 5 star hotel. The same way Vets are courted by companies like HILLS Science Diet who get in early when they are in training sponsoring this that and all else. Why do you think Vets "prescribe Hills Kidney Disease" food? To cure a condition that a lot of the time has been created by dried food in the first place.

My point is that there is a lot of bribery and under the table you scratch my back and I will scratch yours. The Insurance companies pay the banks to sell their product so which product are you going to sell to your client who has come in for a Loan. The insurance company that says thank you or the insurance company that gives you a nice big bonus. That is my point.

The rest of the court stuff I mentioned was just really to show how corrupt these insurance companies are or were. So are the banks for letting this practice go ahead.

If the bank staff did not get any money for selling PPI for example do you think they would have sold it?

There are lots of corrupt people out there I am afraid.

Exactly maxdp, there are a lot of corrupt people (our goverments first and foremost) and I am not in cloud cuckoo land that I do not believe it goes on but fueling something like this is not the answer in my eyes. Do two wrongs make a right?!!!!

I believe that anyone hungry for money can be corrupt. Just if you are actually that hungry that it becomes your only food in life and you get too greedy and others are badly affected in the process. Does that make you any better than those you are fighting.

And for the record I am not someone that does not believe these things do not go on. I know the world is not a nice place and learn't from a very young age but I try to make do with my lot in life as best i can.

THOMAS123

maxdp wrote: »

I do not think it is as blatant as that. Somebody somewhere said that they were being audited again by the new Solicitors. Perhaps they are trying to get through those that can quickly raise an income.

As they don't get paid unless they win a case then that must be good news for the client?

marshallka

THOMAS123 wrote: »

As they don't get paid unless they win a case then that must be good news for the client?

Where do they get paid from?

maxdp

THOMAS123 wrote: »

As they don't get paid unless they win a case then that must be good news for the client?

If these cases can still go through then yes it is. My concern is that the boat has already left for some people.

I presume you mean the Solicitors here Thomas not Black Knight who do not get paid unless they win a case.

maxdp

marshallka wrote: »

Where do they get paid from?

Their fees are sought from the Lender separately to the Claim from the Client. So as in lots of CMC they take 25% of what you win back, in Loancheck( or whatever it may be now or in the future )you get all you claim back.

maxdp

marshallka wrote: »

Exactly maxdp, there are a lot of corrupt people (our goverments first and foremost) and I am not in cloud cuckoo land that I do not believe it goes on but fueling something like this is not the answer in my eyes. Do two wrongs make a right?!!!!

I believe that anyone hungry for money can be corrupt. Just if you are actually that hungry that it becomes your only food in life and you get too greedy and others are badly affected in the process. Does that make you any better than those you are fighting.

And for the record I am not someone that does not believe these things do not go on. I know the world is not a nice place and learn't from a very young age but I try to make do with my lot in life as best i can.

No two wrongs do not make a right but unfortunately that is what goes on and always will do I am afraid. Money and religion the two biggest evils.:(

THOMAS123

maxdp wrote: »

If these cases can still go through then yes it is. My concern is that the boat has already left for some people.

I presume you mean the Solicitors here Thomas not Black Knight who do not get paid unless they win a case.

Sorry, yes I mean the solicitors.

maxdp

Thomas have you seen Lesley 65 post on the other Loancheck thread. Do you know of any way of helping her?