Legal action against Assetz Capital - No Win No Fee

Following the initial post, I contacted Mendelsons and have subsequently spent nearly an hour speaking with them on the phone. They seem like a very professional outfit and have a track-record of success in these scenarios.

As far as I am concerned, it is a no-brainer. Why would one not try to get one's lost money back from a firm that treated them abysmally in all manner of ways, and operated unethically and illegally? Mendelsons are willing to do all the work on a 'no-win no-fee' basis. I asked them repeatedly and they reassured me there were no additional fees whatsoever. 

For transparency, I myself have signed up with them. And I can reassure anyone that, when one utilises Mendelsons, there is no obligation whatsoever to 'sign up' anyone else. Any completely unfounded bitterness against them may be coming from people who are biased in favour of Assetz by, for instance, having shares in Assetz, or those still under the delusion that Assetz will robustly protect their interests going forward when Assetz themselves state their focus is now their institutional lenders.

After years and years of giving Assetz the benefit of the doubt, in more recent times I have tried the routes of complaining about Assetz to Assetz, the FOS and FCA and it's all a complete waste of time. Therefore, as far as I am concerned, this is the only avenue with a fair chance of success we have available to us.

If anyone wants me to fill them in on what Mendelsons have told me on the phone re: this case, they can send me a DM.

I think the bitterness from some people still in AC is because they are worried that AC will have to pay out money (win or lose) and then AC will come after more of their cash to pay for their loses. However AC have got form using posters (as has been mentioned for Trustpilot) to trash the ones who criticize them. I have had a lot of attacks in the past from a vocal set of posters including one who trolled me to GrowthStreet board (I had funds GrowthStreet) to attack me there. Most seem to have disappeared now as it is clear they were wrong and can’t defend their position or perhaps AC have just given up as they are not looking for any new retail business.


Totally agree that this is “the only avenue with a fair chance of success we have available to us”, AC must be held to account.

I do find it odd that those bitter with Assetz Capital seem to be attributing this feeling to those who have questioned the merits of their course. It doesnt seem to be unreasonable to question the approach in the light of bitter experience elsewhere in P2P where the law of unintended consequence has been much in evidence.

No idea if the lawyers are any good or not ... Im just looking at their website which makes various claims without providing any evidence and contains factual errors and commenting on that basis. 

Thanks for the update p2pfan, I'm going to sign up as well. Nothing to lose and it sticks in my craw that AC has got away with everything that they have over the years. 

Assuming it is the only interest bearing loan left then it [the 80% share] is likely as a result of the up and down calculation of 'performing capital' if you had two loans paying interest last month (say) then this month's deductions would be proportionately greater.

Oh and stuartassetzcapital is it really worth it to collect 80p a month from an unhappy customer? Hmm? Is that worth a £750 complaint fee (never mind staff overages) to 'sort out' if they want to ask for it back and you blink?

Thanks. That has exceeded any greed level I thought even AC capable of climbing to. Daylight robbery, I had no idea. Can't be bothered logging in to find out what loan it is, what difference does it make which pocket they steal from.