Site XYZ stole your money ? Is there a market for player collections ?

[MiltonFriedman]

Given the proliferation of "Site XYZ stole my money" threads, is there a market for a collections service to get you paid some % at least ?

What would an appropriate range be for collections on a contingency basis ? 50 % ?

(Basically, meaning if you claim XYZ site stole $20,000 of your money, the service would get paid a % of whatever was recoverable for you on that claim or otherwise from the site, on some sort of sliding scale up to a cap of $10,000 for its fee.)

This is not a farfetched notion. I want to test the level of interest and will post something in a few such threads asking what a fair % would be for a "collection service".

[MicroBob]

50% would be ridiculous...particularly for anyone who didn't do a single thing wrong and is deserving of the full 100%.

For those who broke some T&C like using it to transfer money from neteller to moneybookers or something or set up a 2nd account then I don't know what a fair percentage would be....but I think it would be far less than 50%.

[Wahoo73]

This is an interesting notion that also occurred to me while I was reading the "FTP stole my money" thread.

I think the standard going rate of what a lawyer would charge, i.e., 30-35%, on a contingency basis would be reasonable.

Actually, if ericjones' claims have any validity, I don't understand why he hasn't already retained an attorney who specializes in international commercial law. I have to believe he could find one that would be willing to take this on for a fee of 30% of whatever the lawyer recovered in damages. Perhaps he hasn't pursued this option because in fact his claims have no validity.

[BigBiceps]

Probably nothing.

If you are having to go for a site for collection on a frequent basis, that site deserves (and probably will) to go out of business.

[MiltonFriedman]

Then the % should be around 20% for you, 80% for the collector.

[MiltonFriedman]

30 - 35% is for a personal injury matter. This would not be dealing with an insurance carrier.

Personally, I think about 50% would be good .... but, you and I both know that most of these claims are bogus.... so there would be some effort in screening as well.

[MiltonFriedman]

"anyone who didn't do a single thing wrong and is deserving of the full 100%.'

Bob, the 50% would be going to someone who was helping this 'wronged" player. Effective third party help is not going to be cheap. Consider also that a certain percentage of the claims WILL turn out to be bogus, it is not like there is a traffic accident, police reports, and medical evidence to screen with.

Also, all the putative defendants are located outside the US AND, believe it or not, even the larger amounts here are VERY small potatoes.

I am not looking to go into the business, I just want some of these "Get a Lawyer/I'm Gonna Sue" types to understand that it is not free.

[sunkist8]

What are you going to do go to Costa Rica and break their legs? They won't even talk to a 3rd party.

[WhoIam]

I think 99% of your clients would be colluders, chip dumpers, etc. Sites don't just "steal" money from people for no reason. Assuming that they occasionally get things wrong, this would represent a tiny minority of all accounts seized.

[ShipDaChedda]

[ QUOTE ]
50% would be ridiculous...particularly for anyone who didn't do a single thing wrong and is deserving of the full 100%.



[/ QUOTE ]

you've obviously never been a landlord before...50% is standard [img]/images/graemlins/frown.gif[/img] unfortunately [img]/images/graemlins/frown.gif[/img]