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Tbh I think WTT along with others is the way to go here. I'd hope that they and others would be able to JOINTLY push back on this. Going after parking tickets is one thing, going after a seriously organised group that can point at potential fraud is another. The lawyer reckoned that the...
and breathe...
and breathe...
Ok - so I have just spoken to a Lawyer, an expensive one (but free as a colleague of my cousins).
His view was that a collective approach to this would likely prove too tricky for a company like Gladstones. They will be hoping for low hanging fruit to cave in...
Yup a really good scam would be to have one set of solicitors send you threatening letters and another (just down the road - say) offer to fix it for you...
Why is it that so many of these firms are in the North West of England????
Some numbers
Some numbers
Say, 500 people receive these letters with an average exposure of 100K That's c 50 million.
Not bad.
On the flip side, that's also a lot of people to contribute to fighting this through the courts.
It's all rather unfair.
I spoke to a lawyer yesterday who's advice was ignore the demands. He said I could pay him to write a letter, but he didn't think it was necessary at the moment.
Also worth talking to WTT who've been looking at this for a while. They have multiple members impacted and are ahead of the game - they're probably best place to have the volume to kick back.
Remember the last attempt to extort money from the loans was a 15% write off fee?
Ignore the letters, do not engage. Certainly DO NOT send them any money. They're relying on some people caving to make this worth their while.
Sigh - I've had my run-ins with Saleos in the past - I'm still waiting for the solicitor's letter.
You could argue the toss that he's making money from other people's misery, you could observe that he's not massively collegiate in his attitude to others fighting the same battles and you could...