Solicitors for Tracker cases

mccoypat94

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Anybody have experience with solictors who are taking on tracker cases? P Kissanne is the man I know but im sure he has more than he can deal with at present , anybody else strong in this field? Even on a no win no fee basis?
 

Apples82

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I believe Anthony Joyce has a sustanstial number of tracker "victims" on his books.
 

Brendan Burgess

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Most solicitors have no understanding of the process.

The lender has an Independent Appeals Process which is free and quick and which you should use first.

If you dont' like the result you can go to the Ombudsman, which is free and quick.

But solicitors will automatically issue legal proceedings which are risky, costly and time consuming.

Brendan
 

IKEA06

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Solicitors and Legals may understand contract law, and quite rightly so, but they have precious little understanding of how a mortgage works. They rely on the banks to be clear, honest and regulated for their trust on the financial workings.

The banks have been proven to be wrong on their understanding of contract law. Experience would suggest that there's every expectation they'd be wrong on the financial workings as well.
 

moneymakeover

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If you dont' like the result you can go to the Ombudsman, which is free and quick.

But solicitors will automatically issue legal proceedings which are risky, costly and time consuming.

Brendan

If the bank has already admitted liability, how bad can the court case go for the borrower?

Also, if the ombudsman result is not as expected there is just couple of weeks to take legal action. Who wants to fight the ombudsman in court?

Thus not an option

Therefore what you're suggesting is to accept what the system is offering
 

Brendan Burgess

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If the bank has already admitted liability, how bad can the court case go for the borrower?
Very bad. It could take a long time and the court might well decide that no further compensation beyond the amount already paid is due.

I am not saying that people should not go to court. I am saying that they should use the Independent Appeals Process first in every case. There is nothing to lose and a huge amount to gain.

If you are not happy with the Appeals Panel's decision, they you have to choose between the Ombudsman and the Court. If you go to the Ombudsman, in reality, you can't go to the court.

Brendan
 

peemac

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How does one appeal not being included in a redress by the lender?
There's probably a misunderstanding here - you are unhappy that your mortgage has been deemed not impacted.

But as the central bank examination is not over, the ombudsman is not taking cases on that until the examination is finished .

As for going the legal route of solicitors - forget it. In a strict legal interpretation, the bank would probably win as the courts must go by that and in addition, the bank's legal team will be far far better than anything you could put together unless money was no object.

The central bank examination is really the only game in town.
 

Brendan Burgess

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Have you asked the lender to confirm that you are not included?

If they have not included you, then you can't go to their Independent Appeals Panel.

If they write to you and confirm that you are not included, you can complain about this decision to the Ombudsman. The Ombudsman will probably hear such complaints.

Or you can go to court, but as peemac says, the Central Bank has persuaded the lenders to go way beyond their legal obligations, so you would want to be very sure of your case, to risk going to court.

Brendan
 

Stitcher

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Are there people who have gone through the appeal process who have received a better deal ?
 

Brendan Burgess

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Yes.

According to Padraic Kissane - all the customers who went through the more serious Appeals Panel in ptsb got a good settlement.

About 15% of those who went through the less serious Appeals Panel got an increased amount.

I don't have any feedback on the other banks.

AIB is settling many cases with additional compensation before they even reach the Appeals Panel.

Brendan
 

Jim Stafford

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468
There are a number of aspects to this:

  1. Was there a breach of contract? In most "civil" cases you would generally need a solicitor to advise if there was a breach of contract. In the tracker cases that we are seeing, the banks are admitting breach of contract, and thus no solicitor is required to advise if there was a breach of contract.
  2. Borrowers need a forensic accountant to assist in advising on certain elements of the Points of Claim e.g. if the borrower used a credit card to pay interest then a calculation needs to be done on that.
  3. If the forensic accountant advises that there is a financial claim, combined with a possible claim for stress & anxiety, greater than the compensation offered, then the borrower needs advice as to whether they should use the appeal route or the legal route.
As many Personal Insolvency Practitioners are encountering tracker interest claims they can be a good person to initially consult. PIP's would have a network of experienced solicitors that they can access.

The bigger claims will, in my view, need a combination of a forensic accountant and a solicitor to advise.

Jim Stafford
 

TLO

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234
Thanks so much for that , I presume I should contact them prior to lodging an appeal ? Or should I appeal first ?
Suggest that, before doing anything, talk to both. See who you feel most comfortable in working with. Jim is an accountant, Anthony is a solicitor. Depending on your own circumstances you might be better with one or the other.
 

mccoypat94

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119
Have you asked the lender to confirm that you are not included?

If they have not included you, then you can't go to their Independent Appeals Panel.

If they write to you and confirm that you are not included, you can complain about this decision to the Ombudsman. The Ombudsman will probably hear such complaints.

Or you can go to court, but as peemac says, the Central Bank has persuaded the lenders to go way beyond their legal obligations, so you would want to be very sure of your case, to risk going to court.

Brendan
Hi Brendan

Yes I have recieved confirmation that I am not included. They told me on the phone that I can appeal. Am I just appealing to them, to throw it out again or an independant body? or do I go straight to the ombudsman?

I believe I am being left out of a cohort as KBC are using the date I began the mortgage application rather than the date I decided to proceed and accept their letter of offer. I believe this is outrageous and shouldnt stand up.
 

Brendan Burgess

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I believe I am being left out of a cohort as KBC are using the date I began the mortgage application rather than the date I decided to proceed and accept their letter of offer.
Have you received this in writing? If not, ask for it in writing.

I see no point in your taking legal action on this one on your own. There are others affected and you should get together and pool your resources.

Brendan
 
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