How do you consider a claimant eligible for compensation?
To be considered for compensation, you have to be qualified underneath the instructional materials set forth in the U.S. These instructions help us in contemplating the types of claim which can be eligible for compensation, and set a restriction as to how much compensation we are allowed to pay. The kind of compensation you’re eligible for may also be affected by the individual types of claims.
Do I have to pay anything to have my claim considered?
The first step is to identify what type of compensation you can be considered for, once we have clarified, we then hold a period of discussion about who is responsible for funding our representation. Often it is the company that funds the claimant’s compensation.
Are there any legal time limits on making a claim?
Despite the fact that there’s no cut-off date when filing for compensation, some dates could affect your capacity to make a declaration. Another example that would impact your claim is if it is subject to legal time constraints. If it so occurs that there are authorized deadlines that stops us from serving to you, we will write and give an explanation for why.
What does default mean?
In Default means in dereliction for non-payment, this can often lead to a company having to stop trading and then not having sufficient assets to pay a claim or has filed for bankruptcy. Our team will investigate this situation first to see if it worthwhile pursuing a claim.
How long does it take to complete my case?
There are many varying factors that determine each individual case. What it is and how complex it is and the amount of research taken to glean all the relevant information. Some of these outside influences are beyond our control, but at the outset we will give you a reasonably accurate time frame for your case.
How long does it take to process my case?
The time it takes to process a case will depend on various reasons. It may take a time to effect a claim as outside parties sometimes have to provide information and we have no control over this variable. All documentation needs to be completed, then filed and be up to the required legal standards.
When we have completed all necessary processes, then your compensation will be expedited in five working days. If for whatever reason you are experiencing financial difficulties then we will treat your case as a priority.
What is meant by financial loss?
This is the case when you have suffered financial loss by prior involvement with another financial services firm, either authorised on not. When we start representation we take into account your financial position before you invested.
Is compensation available for companies as well as individuals?
As a guideline, for the purpose of deposit and investment claims, smaller companies are secure. A smaller firm needs to meet two of the following three standards as laid down by section 247 of the Companies Act 1985 or section 382 of the Companies Act 2006 as applicable:
- Turnover not exceeding £6.5 million
- A total of no more than £3.26 million on the balance sheet
- A maximum of 50 employees
For claims made under an insurance policy, all small firms are covered. A small firm under the COMP rules receives a turnover of less than £1m each year. This is the case whether the claim is for a small company or a private individual, the same levels of compensation apply.
Does it affect my claim if all my dealing were done over the internet?
If the business is compliant of all standards laid down by US regulators and the claim is eligible by the rules, then your claim is processed like any other.
My original firm that I was previously dealing with has ceased trading, can Rhine & associates still help me?
We only take cases into consideration if they cannot be funded by anybody else. If the firm you were originally dealing with is no longer operating but still has sufficient assets, it is unlikely we will act on your behalf. You have to take recourse with the original company. We would aid you in finding contact details etc. but your best course of action would be to seek advice from the Citizens Advice Bureau.