# Solicitor /Independent financial advisor to act for us all



## AppleSun (5 Aug 2015)

As Bronte suggested elsewhere, Might be useful for anyone interested in getting together and getting a single person/Company to represent us all for moving the appeals process forward, and negotiate an appropriate fee for same.

Aim obviously for us would be to get services at a reduced rate due to numbers  (so any compensation we receive isn't gobbled up) and also have someone very familiar with the appeals case to represent us. It would be of benefit to those of us who aren't located in Dublin, and can't get to meetings etc.

Brendan, Not sure if this is included in your committee post or different, so feel free to close if required.


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## oakie2015 (6 Aug 2015)

I agree completely,


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## AAM_User (6 Aug 2015)

I'm in.


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## robert power (6 Aug 2015)

id be interested in this also as after receiving the letter this morning and making some calls some are charging 200 euro an hour


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## damien (6 Aug 2015)

i would also be interested


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## shelley (9 Aug 2015)

I am in keep me posted


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## Brendan Burgess (13 Aug 2015)

Folks

I think it's very early to be consulting solicitors on this.   It's likely that there will be ambulance chasers who have no knowledge of the issue trying to get involved.  While some will work on an no foal , no fee basis, why should you have to pay them a percentage of your compensation, if you can get it without using a solicitor? 

You should return the forms, get your redress and get your compensation - you don't need a solicitor for this. 

If you are not happy with any aspect of it, you can appeal.  The payment of the redress and compensation is not relevant. 

You don't need a solicitor for an appeal - unless you believe that a solicitor will be taken more seriously than you. 

However, I think you should probably hold off appealing until we see how things are progressing. You have up to a year to appeal. 

Padraic Kissane is handling hundreds of these cases.  He will have a better understanding than anyone else of what is achievable. I am sure he would negotiate a fair deal in most cases.  And in some cases, where he is unable to get a fair deal from ptsb or where he feels that there is a legal issue e.g. the treatment of those without a rate specified in their contract, he would pull a group together and get appropriate legal advice.


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## AppleSun (14 Aug 2015)

Brendan Burgess said:


> Padraic Kissane is handling hundreds of these cases. He will have a better understanding than anyone else of what is achievable. I am sure he would negotiate a fair deal in most cases.



Have removed Padraic's fees as I see now that they differ depending on each person's case.


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## Brendan Burgess (14 Aug 2015)

Hi Apple

I understood from speaking to Padraig that he charges no fee for the first consultation.  If you choose to use his services, he charges a €500 engagement fee. And after that, the fee depends  on the complexity of the case. If he gets you no improvement on your current position, he charges nothing beyond the €500.

If you have been restored to your rate of 1.1% and the only thing at issue is the level of compensation,  I would see no need to use Padraig or a solicitor.  You can argue the case yourself.

If you have been in deep arrears or have a split mortgage, your situation is more complicated.

If you had no price promise and they have put you on a rate of 3.3%, you need someone who knows what they are talking about. 

If you lost your home, then you may well need a financial advisor and a solicitor and the costs will be far higher.

Brendan


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## AppleSun (14 Aug 2015)

Brendan Burgess said:


> Hi Apple
> 
> I understood from speaking to Padraig that he charges no fee for the first consultation.  If you choose to use his services, he charges a €500 engagement fee. And after that, the fee depends  on the complexity of the case. If he gets you no improvement on your current position, he charges nothing beyond the €500.
> 
> ...


Thanks for clarifying. Have edited my above post. I am on a split. To be honest, I don't know if I should appeal or not.  I will called PK.


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## L John (14 Aug 2015)

No disrespect to Mr. Kissane, he has done excellent work on this issue, but I don't know why anyone would pay him a fee to go through the appeals process. 

Remember, the central bank signed off on every letter as part of the enforcement action. They have accepted the terms offered, including the 3.25/2.25 rates for those where rates weren't stated. 

If you're appealing that rate then its on the application of the special conditions in the mortgage contract in determining when was the de facto ending of the fixed term and whether that requires the tracker rate to be applied rather than a notional date when the period was to expire. 

The central bank enforces based on statutory regulations such as the consumer protection code. The issue at hand surrounds the terms of a contract and as such legal advice is required.


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## Brendan Burgess (14 Aug 2015)

Hi L

There are many categories of borrowers affected by this. 

You have identified a key one which is the rate on which people who had no price promise in their contract were put.  I think that this will probably have to be tested in the High Court eventually.  If you go to a solicitor, they are going to have to go to someone like Padraic to get a lot of information about the issues involved and how others were treated.  So these cases will require a combined financial and legal approach. If people want to drop into their local solicitor on this they can, but they are going to waste a lot of money.  The people affected will need to come together. Padraic has handled by far the most of these cases and would be, in my opinion, the best person to lead this case, in conjunction with a barrister.  But if people want to ring their local solicitor, they can of course do so.  

My own experience of solicitors on financial issues is that they go off on wild goose chases, like that guy who sought an injunction to get secure a payment which was already available to him.

But,  L , you probably have a much higher opinion of the legal profession than I do.

Brendan


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## L John (14 Aug 2015)

Brendan

I think we ultimately agree here as im not suggesting a local solicitor but a solicitor well versed in contract law.

I think a package of Mr. Kissane and such legal representation acting as a unit for a group where the issues are more substantive would be a good idea.

But I think there are some people that think that by engaging Mr. Kissane they are going to get multiples of their compensation for emotional and financial stress and it is they who are on the wild goose chase.

In addition, a fee of 500 is not going to go too far if barristers become involved so people need to be realistic about the cost and indeed the time frame in getting progress on those more substantive issues.


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