used Mis-sold pensions NWNF Solicitors - now they want fees because im going it alone to the FSCSCan a Solicitor Do This?

[corine39]

Hi just after some help and professional input if that's ok.

 

I had a pension that was mis-sold to me, and I consequently lost a substantial amount of money. I sought a solicitor that deals with this area of law, signing a contract with them to fight for compensation on my behalf. The contract was that they receive 30% of any monies recovered. This would be a maximum of £20k, but only if the solicitor was able to recover all of the loss. Since signing up with this solicitor however, the FSCS have set up an online system that now allows you to go directly to them, without the need of a solicitor. 

 

Given this is all the solicitor is doing, that is going through the FSCS themselves, I have decided there is little need for this solicitor anymore and that I can do this myself. I have written to them, and said I no longer will need their services, and could they give me a final bill. They are refusing to give me any sort of invoice breaking down costs but are telling me the final bill will be £25K.

 

How on earth can the final bill be more than the maximum compensation of £20K, which they may or may not get. Surely this means they work at a loss.

 

Therefore can any confirm if 

1) a solicitor can ask me for £25k when they cannot break down costs for me and

2) how they can charge more than any maximum recovered

3) what should be my next step

 

Many thanks for any help.

 

[dx100uk]

you always could go direct to the FSCS you never need these NWNF scammers

 

 

[BazzaS]

Because : if they win, for you, they get their costs (from the other side) AND the “success fee”.

£25k for costs sounds massive though!

 

The success fee compensates them for the risk they take on for working “no win, no fee” (NWNF), as the insurance that comes with ‘nwnf’ covers the OTHER SIDES costs if you lose, not your costs if you lose.

 

You want an itemised bill for work to date.

if they are declining : formal complaint.

If they then don’t resolve it : Legal Ombudsman.

Edited February 4, 2023 by BazzaS

[dx100uk]

its a bit like the PPI scammers of years ago, they want their fees/share anyway even if you drop them cause the letter of authority/contract you supposedly signed entitles them to it regardless.

 

Allay Claims and their various trading names scamming on PPI rings a bell, several threads here on them.