Hi. Welcome back to the moneybackhero.com official weekly podcast on getting your money back. The topic today is legal help and whether or not it is needed in the case of scam recovery.


Please note that the transcript is unedited and machine transcribed so it may not read perfectly.

We are here to help you along your way to wealth recovery and getting out of getting scammed. Today the topic of our money back hero podcast is going to be legal help OK. A lot of clients have as a first reaction; “I’m going to speak to my solicitor” Let me speak to my lawyer let me speak to this person. And unfortunately, in these binary scams who are at the top of their game are beyond the reach of local law. That at least for you know a case somebody’s losing you know 10 20 30 40 even 50 thousand pounds. You know it’s a hefty fee you’re going to have to pay in order to recover even a portion of that money.

When legal help is not called for

A lawyer will help somebody out with a civil or criminal case. A solicitor can only do that for somebody as when there is a criminal they can approach it that way or if it’s to get somebody money back. It would be from a civil perspective. So and lawyer in order to attack one of these companies civilly will have to gather enough evidence. Following that, he must find the person behind it. Finally, he must prove to the court in that country that the scammer resides. That is for a case that they are liable civilly and the person’s losses. So how these companies operate is they are. However, there are layers and layers of companies from country to country that they build up as defenses to protect themselves from such a thing. It usually traces back to a number of countries and that’s how they hide.

What kind of evidence is needed?

So what has to happen in order to get such evidence for a civil case is that a private investigator. The investigator will have to be hired by your legal help and have to you know go in and put some more than the company. And it’s a costly process nor to get enough evidence even to start the litigation. No we’re talking upwards of 20 to 30 thousand dollars minimum in order just to collect evidence and that’s before even starting the litigation. So it’s not really a viable option to get a lawyer involved because just to get to the point of a lawyer doing something is going to be very very expensive.

Now at money back hero we are you know able to assist if you know you know we’ve we’ve had you know a number of clients you know 20 clients who have an issue with with you know broker X and then we can you know everybody puts in and we help facilitate you know the gathering evidence of a lawsuit and then putting the parties together. But for each individual to do it on their own it’s just not realistic. So that’s one reason why a lawyer’s not going to really help. And in your standard individual case. Secondly let’s say you bring on your lawyer to help you out with a chargeback with your bank. That’s you know that’s like putting a solicitor you know to help you out with doing your taxes a solicitor is trained and knowledgeable in their jurisdiction of law.

Lawyers are not chargeback experts

So you have a UK solicitor in you know tax law. That’s what they know in this situation being that that that’s in a civil lawsuit a class action lawsuit is not going to really it’s not really in the in in the frame. The only thing that people really can do on an individual level is work for a chargeback and that’s where money back here which specializes is in charge backs and making sure that people get their money back and that’s what we do. But legal help are not chargeback experts and they know usually I can’t say never but I at my expense have never seen one that’s made the situation better.

Usually they’re you know fumbling through and don’t know chargeback rules because it really comes down to the rules and within you know MasterCard and Visa how they’re chargeback policies work in the end what somebody who’s been scammed by these binary crypto CFD scams need as somebody who really is a complete expert within the chargeback rules of the credit card networks in order to you know be able to sift through and find the information they need put together build a case you know somebody on their side and that’s where you know the difference between a solicitor and a for example a money back here expert operate is that money back air heroes you know expertise is specifically in charge backs within the credit card networks rules.

legal help

What about the bank?

Just the point Deb there is a question that people almost always say you know people do make a mistake and unfortunately we can’t help them afterwards if they say well I’m sure I can just do this myself so yeah you could do it yourself. You can. You can go to your bank and you can do yourself. The problem is is this is that when you take this to the bank you’re going to a bank employee who’s making an OK salary and their entire purpose within the bank is the information that they comes onto the desk is to clear the desk. So they look at it quickly and they evaluate is this.

Does this have chargeback rights or does not have chargeback rights. Yes or no click yes no chargeback No no chargeback. That’s it. Does your legal help even know this? They have no vested interest in the people who bring chargeback to them to win the charge backs. OK. They just look at it from a and a completely you know non biased perspective. Does this have chargeback rights or not. Because it’s an obligation for a bank to have such a department.

The unfortunate side of speaking directly with the banks

So that’s the unfortunate side of taking this the bank is that the banks generally you know generally not interested in you know getting anybody’s money back. They just are interested is does this the bare bones how they perceive it as about charged but does it have chargeback rights whereas money back hero. What we do is we have skin in the game. We make our money on our clients getting back their money is the most important thing to us as a business.

That one that a chargeback is raised for a client. But most importantly that a chargeback that is a winnable charge back chargeback that is going to get the client’s money back is raised on the client’s behalf. Legal help are simply not experienced in this kind of case. And if there’s any bumps along the way if the bank says to the client that they cannot help and that you know for some reason there are no chargeback rights a person on their own will say well the bank says there’s no chargeback rights. They have nothing else to go on other than what the bank says.

How experts like Money Back Hero can be preferable to legal help

Whereas somebody that’s an expert like like money back Carol we built the chargeback. We know what it looks like. We know the chargeback rights and we know that the banks not only can make mistakes but often do make mistakes and have the entire wrong perspective on what to do. So that’s one thing where you know having yourself a chargeback expert like a money back hero can help you guarantee that you get your money back rather than you know falling in the errors mistakes and just you know the quickness of the bank to just process information and move on.

So that’s just to recap we talked about lawyers how they are not not really chargeback experts and oh and one other thing just to throw out their lawyers is if a lawyer goes to the bank with a client to speak about a chargeback they will be directed to the legal department because the bank does not want to be dealing with the Standard Bank employee does not want to be dealing with a legal entity a solicitor or a lawyer because it’s way out of their debts.

Another downside to the law

So so that’s you know another downside to law. So one at lawyers and not only can you know it’s out of their realm of expertise but also it can be detrimental because the bank will not want to talk to a lawyer. Yes classic bank employee they’ll send you to the wrong department. Well me the legal department when you need to speak to the chargeback department to person can do it on their own. However they are completely flying blind in a in an area where they don’t know what’s going on whether the bank is doing something right or wrong and they only get because you only get one shot that you’re chargeback right.

If it’s messed up along the way you will not know that it messed up and there’s nothing no way to repair it. So it’s imperative especially for people you know clients that lose significant amounts of money and you know their financial stability is on line that you know you have help helping you out with a chargeback. You know a person in their right mind would never go to court on their own without a solicitor a person in the right mind with a large amount of money in line and you know in their right mind should not go to a chargeback process without an expert was helping that to ensure that they got there that they can get their money back. OK once again this is Piers from money back hero helping you to stay safe and get your money back.