Ratio Money closes it doors!!

marshallka

BethanyD wrote: »

I had a case with Ratio Money that was dormant until about 6 weeks ago.

I called every week for about 8 months and asked for my money back if nothing was going to happen but was constantly told my claim was being allocated to a solicitor.

After an eternity I got a letter from them telling me my claim was being assessed by Black Knight Solicitors - who are not solicitors apparently:(

A guy from Black Knight called me to ask some questions which I thought was a bit starnge because Ratio had had my claim for ages and never asked me these questions before. When I asked him about the money that I had paid he said it was nothing to do with them and i should ask Ratio about that:(

Anyway, a few days later I got a call from a solicitor who said that they would be taking on my claim on a no win no fee service.

They sent me a contract and then phoned me again to go through how it works:T

My claim is now being dealt with at last and the lady solicitor seems really nice but I,m sure that this has got nothing to do with Ratio and they have taken my money for nothing

Can,t see how they,ve lost any money

No, it is strange how they can say they actually lost money when they took loads of it and did nothing??

I am glad you are happy with Black Knight Associates taking this over and that you have a solicitor but just be careful in what you sign as I am sure you have been. I would ask them what chance of winning they think you have, what timescales they are saying about for completing the claim/complaint and also as we always stress on here that whatever you sign has no hidden fees/solicitors fees etc are all covered by insurance. What percentage have they said they would take from any winnings?

BethanyD

marshallka wrote: »

No, it is strange how they can say they actually lost money when they took loads of it and did nothing??

I am glad you are happy with Black Knight Associates taking this over and that you have a solicitor but just be careful in what you sign as I am sure you have been. I would ask them what chance of winning they think you have, what timescales they are saying about for completing the claim/complaint and also as we always stress on here that whatever you sign has no hidden fees/solicitors fees etc are all covered by insurance. What percentage have they said they would take from any winnings?

She explained everything very carefully and assured me that there were no hidden fees and that I would keep all of my winnings.

She said it would take up to 18 months and that I had a good chance of getting some money back.

I didn,t really have much to do with Black Knight other than speaking to some young guy from them

ILW

f there is no insurance policy involved, you could be liable for any defence costs if your case goes to court and you lose. Check waht you have commited to.

marshallka

BethanyD wrote: »

She explained everything very carefully and assured me that there were no hidden fees and that I would keep all of my winnings.

She said it would take up to 18 months and that I had a good chance of getting some money back.

I didn,t really have much to do with Black Knight other than speaking to some young guy from them

So I take it yours with Ratio never went to a solicitor and then when they closed their doors they passed it onto Black Knight who then passed it onto their solicitors. Is this Stokes & Co? I know that some others from Loancheck were passed to Black Knight.

Although you have been assured there are no fees I would read the contract inside out, back to front to check this though as people have been caught like this with Cartel Client review and also Loancheck. They were told their cases were insured but are/were at threat of fees being charged in the end as not insured etc. I know you say it was all explained but just be very careful what you actually sign as this is then a legally binding contract and then no regrets later.

Good luck

~Brock~

ROFL at the use of the term 'winnings' as if it is a bleedin' gameshow you have entered...:rotfl:

marshallka

~Brock~ wrote: »

ROFL at the use of the term 'winnings' as if it is a bleedin' gameshow you have entered...:rotfl:

That is the term which the solicitors have used. You either win your case or lose your case. Not just me using the term Brock, apparently it goes on a percentage of the case winning or losing. Also I think it may be like a game show to these CMC's and solicitors involved in this. They have played roulette on "some" people's lives. Not all granted, but some were very innocent. Just difficult to tell who is and who is not. SOme only wanted PPI back that was missold and got dragged into this by someone telling them they could get more and should go for more. Others just saw this as a way of debt avoidance.

~Brock~

marshallka wrote: »

That is the term which the solicitors have used. You either win your case or lose your case. Not just me using the term Brock, apparently it goes on a percentage of the case winning or losing. Also I think it may be like a game show to these CMC's and solicitors involved in this. They have played roulette on "some" people's lives. Not all granted, but some were very innocent. Just difficult to tell who is and who is not. SOme only wanted PPI back that was missold and got dragged into this by someone telling them they could get more and should go for more. Others just saw this as a way of debt avoidance.

I agree with you 100% marshallka, it wasn't aimed at you. Unfortunately the situation with CMC's is just another sad reflection on our society nowadays.

It became fashionable to bash the banks. Web sites sprang up everywhere (including this one) describing how we all had the 'right' to reclaim what was apparently ours. Against this backdrop, scamming CMC's emerged to deceive the naieve about how easy everything was - all with the apparent (and very handy) blessing of the MoJ following the timely introduction of the Compensation Act 2006. They quickly moved from bank charges to unenforceable credit agreements.

Now the whole house of cards is tumbling down.

If you look back on my posts going back to 2008 I have made my position very clear on this subject - I have seen through the CMC's from day one, and their empty claims and promises.

This was never about consumer rights, or getting compensation when genuinely due, it was about get rich quick schemes designed to fleece an uninformed and in many cases, greedy public who thought they could 'get one over' their lenders, maybe to balance out their own overcommitment after the previous decade of government sponsored excess.

It is because of this that I find the use of the word 'winnings' so amusing. If I described this scenario to people from many other countries they would think I was making it up !!

I am all for consumer rights, but with rights should come responsibility. If we become a nation of nothing but petulant reclaiming whingers then we will be treated accordingly. I believe this is happening now to all but the highest earners and lowest risk.

BethanyD

marshallka wrote: »

So I take it yours with Ratio never went to a solicitor and then when they closed their doors they passed it onto Black Knight who then passed it onto their solicitors. Is this Stokes & Co? I know that some others from Loancheck were passed to Black Knight.

Although you have been assured there are no fees I would read the contract inside out, back to front to check this though as people have been caught like this with Cartel Client review and also Loancheck. They were told their cases were insured but are/were at threat of fees being charged in the end as not insured etc. I know you say it was all explained but just be very careful what you actually sign as this is then a legally binding contract and then no regrets later.

Good luck

No it,s not Stokes & co and I do have an insurance policy in place that covers the defence costs.

The only money I have paid out is to Ratio last summer who got around £300.

I know I wont get it back so if I get anything it will be a bonus to be honest

marshallka

BethanyD wrote: »

No it,s not Stokes & co and I do have an insurance policy in place that covers the defence costs.

The only money I have paid out is to Ratio last summer who got around £300.

I know I wont get it back so if I get anything it will be a bonus to be honest

Thats good then and glad you have thoroughly checked it all out and have insurance in place. It was just that reading on here people were also "told" the same with other companies/solicitors (not the one in mention though) and insurance was actually not put in place and the clients are at threat of charges. You do have to be very careful with what has happened just lately to all these "write off etc" type companies. You obviously have a good case.

THOMAS123

marshallka wrote: »

Thats good then and glad you have thoroughly checked it all out and have insurance in place. It was just that reading on here people were also "told" the same with other companies/solicitors (not the one in mention though) and insurance was actually not put in place and the clients are at threat of charges. You do have to be very careful with what has happened just lately to all these "write off etc" type companies. You obviously have a good case.

It's sad that it seems a rarity that someone has a "good" case.

Hopefully Bethany will be successful