ratio money

[creditman09]

You are bound to get sniping at CMCs as they have put disorder into the collection system. I am a customer of one and the " creditors " are holding off collection process because there are so many flaws in their agreements or they have lost the original agreement.

 

The solicitors involved are getting to grips with this type of work and are going to make life very difficult in the future for the "creditors". As I see it this site is a valuable one but if 10,000 people suddenly decide to contest their agreements tomorrow followed by another 10,000 the day after and continuing on this basis would it cope with the situation?

 

The way forward is for professional companies and solicitors to develop

this market which is something the "creditors" and vested interests, or The Establishment, do not like contemplating.

[cerberusalert]

As I see it this site is a valuable one but if 10,000 people suddenly decide to contest their agreements tomorrow followed by another 10,000 the day after and continuing on this basis would it cope with the situation?

As this site has 2,255,075 Registered Caggers I don't see why not.

[creditman09]

It would be interesting for a site team comment regarding large numbers requiring advice at any one time.

 

There does seem to be a place for good CMCs at a reasonable price as well as this site to me. However, are larger numbers of people contesting their agreements needed in order to change the situation in general?

 

The bank charges situation developed into large numbers and got the banking sector on the back foot.

[cerberusalert]

The bank charges situation developed into large numbers and got the banking sector on the back foot.

Yes and numerous claims companies developed & morphed into the likes of the Rankines hoping to make a fast buck. Now the OFT & the FSA et al are closing them down.

[gezwee]

You'd have to assume that once a given number of CMC's start to earn a steady revenue stream on results rather than up-front fees things would settle in the market and those that were providing a quality service would show a leading role.

 

IMO the issue with CMC's receiving such bad press is because they are currently a fee paying service, this makes them easy prey for media and financial institutions.

 

Maybe in a couple of years we'll see them extend their services to faulty DN's etc.

 

Its a difficult subject, there is definitely a need for them but there is equally a need for them to be proficient and not allow themselves to fall into DCA practises by making false claims or misleading consumers.

 

Does seem a shame that the FSA don't put as much effort into closing down DCA's when they misbehave

 

If things progress we may yet see the same budgets set by CMC's as banks currently have for their legal departments putting the consumer on a level footing at long last.

[swizzly]

I have an ongoing claim at the moment and I find the solicitor and cmc are often saying different things with the cmc being very gung ho and perhaps oversimplistic whilst the solicitors are very cautious.When i speak to the cmc they are like excited sales people who just talk over you when you question how long things will take.I also get the impression that the solicitor doesnt trust the cmc and is more concerned with protecting her own back than progressing the claim.Is this a common experience

[saddler68]

An intersting observation Swizzly. I got into some difficulty when attempting to take on Natwest on my own. I gave in and paid out 295 to a CMC. A solicitor in Cardiff was appointed within about 6 weeks. I had a letter from them yesterday informing that they had instructed a barrister to draft court papers. The solicitor is confident about my chances of success but as you would expect is rather more reserved in her approach than the CMC. Im sure good CMCs have a role to play.

[swizzly]

Hi Sadler

Did your cmc provide an audit to the solicitor or was one provided later?

 

I might not get ATE insurance if there are any doubts over the quality of the audit and I might have to get a further report done

 

Many thanks

[gezwee]

Hi Saddler/Swizzly

 

Would the £295.00 be a total incl ATE premium, or is the 'risk' aspect calculated pre litigation (audited) with possible further increases to premium?

 

Sorry if that sounds a daft question, not used CMC's before but remember reading somewhere that the premium is risk associated and can therefore increase if the sols are not confident of an out of court or ajudge that additional work will be involved. Either you agree an increase to premium or the balls dropped back in your court less an admin fee from your initial £295.00.

 

Got a biggy coming up with Natwest...... or at least I will have in about a years time if history is anything to go by. Could do with seeing some good results posted over the next few months to see how CMC's control costs/charges.

 

Gez

[swizzly]

Hi Gezwee

 

The ate is a separate self funding arrangement which my solicitor has to get but the cmc said they had it ready approved.This turns out to be untrue as a barrister has to give a final thumbs up which they wont do if the audit is dodgy.

Looking at it myself even though the audits math might be questioned there are other issues anyway which should help my claim

 

I'm getting into this a bit now and seeing villainous tricks from both sides of the fence!

[gezwee]

Hi Swizzly

 

Pretty much what I thought tbh......... be ok if we could get an audit prior to parting with the initial fee.

 

Are you running a thread for yours on here so I could look in from time to time to see how things progress with them?

 

Maybe I've become paranoid about anybody wanting my money but I suppose nothing ventured nothing gained...... everything seems to have a financial risk these days and every buggers out to lighten your wallet by whatever means.

 

Very interested to see how things pan out, wish you the best of luck with yours.

 

Gezwee

[saddler68]

My audit report was prepared by a firm of solicitors in the North. I was assured at Point of Sale ( and subsequently) that all cases highlighted by this firm as 'unfair' are insurable for ATE purposes, as the report is signed off by a rather eminent QC. I did have one other claim being handled by another solicitor instructed by the same CMC who wants to do it 'his own way' and doesnt want to rely on the audit report or the CMCs ATE, needless to say he is causing me endless problems. The CMC are aware of these issues and have said that they would be happy to transfer the case to their in-house solicitor who would be in a position to commence proceedings within a month. All-in-all I have to say I am happy with my CMC though I do question the ability of one particular firm of sols they have appointed. For those considering using a CMC, its no walk-in-the-park, be sure to do your research first.

[swizzly]

Hi Saddler

Have you actually got ate with your cmc case

thanks

Swizzly

[swizzly]

Hi Saddler

Just another thought has this QC actually approved the audit

 

Thanks swizzly

[saddler68]

Swizzly, my Natwest case is with the barrister as we speak. The ATE is a formality once he gives the go ahead. Ive spoken to the sol' again today who has told me that the cases come back in batches. They have already received positive responses from the barrister and expect mine to be no different as I have a 'clear' case. The methodology for the initial audit report is approved by the QC and an Oxford Uni Prof of Maths.

 

Swizzly are you saying that your CMC cases are not insurable? As I mentioned earlier I do have another case with another sol' who wants to do it his own way, ATE might be a problem if he doesn't swallow his pride and use the CMC's ATE and chambers. My CMC is clearly having a problem with panel solicitors who are averse to be being directed ( by the CMC) in how to proceed these claims.

[swizzly]

Hi Saddler

 

Thts the point apparently .The methodology is accepted but a variety of sols have issues with the data that is then inputted .My sol says that a few firms and insurers have concerns that the cmc dont want the audits examined too closely and actually getting the barrister to approve the individual audit is not a formality.

 

I will spk my sol and get back to you

Thanks Swizzly

[swizzly]

Hi Saddler

sol still insists that needs the barrister to sign off each individual case.The other thing is cmc keep saying different university this maths professor is supposed to be from you can never pin them down to give a straight answer.Mind you i dont know whether its that important if they tell a few fibs to get the sol moving:confused:

[humbleman]

normally this kind of forums get posters that either want help or help others

[babybear39]

normally this kind of forums get posters that either want help or help others

 

My post was mad e to the previous poster...We posted at the same time

[babybear39]

Professional I think CMCs are the scurge with very few exeptions

[cerberusalert]

School holidays are nearly over & the kiddies are getting bored now.

[Guest Larry1234]

Well babybear if that was directed at me then again i feel your probably spouting on about smoething you truly know nothing about, CMC's claims back thousands of unfair charges for clients, the unenforceable agreements are a far more complex subject which is why the process takes so long, saddenly people are far to worried about being ripped off or to feel there being treated unfairly

[angry cat]

Agree BB...C*** indeed!

[babybear39]

Well babybear if that was directed at me then again i feel your probably spouting on about smoething you truly know nothing about, CMC's claims back thousands of unfair charges for clients, the unenforceable agreements are a far more complex subject which is why the process takes so long, saddenly people are far to worried about being ripped off or to feel there being treated unfairly

 

I'm not spouting C*** just speaking personally from one who knows that there is no need for CMCs only to make money. Everything you need to know about debt management is here FOC!!!

[gezwee]

Just a quick point, most of your comment is complete jibberish mate, you clearly dont know what your talking about so wouldnt post on things you dont understand!! If you read the courts reports all the adverse credit history was removed and i could pull apart every other things you claim on there, i dont know if ther service is any good put what your preaching is miles off the mark!!!

 

Lol...... If Larrys comments are anything to go by and he/she/it is indeed employed by a competitor of Ratio you can understand the need for public forums.

 

Mate........ who wants to pay a CMC £295.00 to be called mate, guess customer service isnt a priority after lightening your wallet.