QUESTION
A law firm in Connecticut says they are filing a mass tort action suit vs. a class action suit. Still want retainer of $6k up front to get included.
Asked on May 26th, 2012 on Business Law - Missouri
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They also say there is a monthly retainer of $500 as well. They say all will be reimbursable once the case settles in 6-15 months. In addition they say we can get a new mortgage at 70% of the current underwater value at a rate of between 2-4% because unlike a class action, the mass tort allows me to have individual damages and awards specific to my circumstances. Is this a normal way mass tort cases are handled and is there usually retainers paid by clients?
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Doland & Fraade
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It sounds very suspicious to me. I would run an internet search on this "law firm" which may not be a law firm and see if a "scam" has been reported.
Answered on Jun 12th, 2012 at 5:29 PM
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This is essentially a scam in which a firm is offering to represent you individually in return for bringing a claim against your mortgage lender. This is no certainty of success. If you have good grounds for suing your lender, you should probably hire an attorney where you reside and negotiate the terms of engagement on your own.
Answered on May 27th, 2012 at 2:52 PM