Howland Law Firm Compensation FAQ’s

How do you consider a claimant is eligible for compensation?

When you are being evaluated if you qualify for compensation, you must meet the US guidelines set down. These guidelines are formed to consider the categories of claim that you are eligible for, and to set a ceiling of the limit allowed. The type of claim that you are making is directly reflected in the compensation.

Do I have to pay anything to have my claim considered?

This rather depends on what type of compensation you have qualified for. Once the Valuation Team has identified this, then discussions can be held to determine who is responsible to pay us. Often it is the case, that the company funds claimants’ compensation.

Are the any legal time limits on making a claim?

Strictly speaking there is no cut off period in filing for compensation, although some dates may affect this. It also may be the case that your own claim does have legal time limits, time bars are an example. If this is the case and there are time constraints we will contact and inform you so that you are fully aware.

What does “in default” mean?

The term “in default” simply means in default, or delinquent. This often happens when a company stops trading and has no assets to meet any claimants, normally the firm is not far of bankruptcy. Howland Law Firm will always investigate if this is the case.

How long will it take to complete my case?

This is quite difficult to answer because of all the variables that are involved in such a complex procedure. The amount of research and date to be gathered also has a direct baring on this, trying to get information from third party sources is notoriously difficult and to all respects is out of our control. But Howland Law Firm will issue you with guidelines and keep you updated.

How long will it take to process my claim?

Similar to above, this depends on variables that are sometimes out of our control, for instance gathering of information from third parties. Then all the appropriate legal documentation needs to be completed correctly and be in good standing order. When everything is completed and all factors are met your compensation will be completed in five working days. If however for any reason you are experiencing financial difficulties we will do our utmost to process things as quick as possible.

What happens if I am facing financial difficulties and need my claim processed quickly?

You must inform us if this is the case, we will endeavor to put you on priority to expedite your case as quick as possible.

What do you mean by financial loss?

This is the case of loss of money on the filing of compensation due to dealings with either an authorized or unauthorized financial services company. If this is the case, we will fully take into account the financial situation you would have been if you had not invested.

Can you compensate firms as well as people?

This guide is only for the purpose of deposit and investment claims, smaller firms are usually secured. A smaller company needs to meet two of the following standards (as set out in section 247 of the Companies Act 1985 or section 382 of the Companies Act 2006 as applicable):

  • Total of balance sheet – not more than £ 3.26 million.
  • Total number of company employees – not exceeding 50
  • Company turnover – not exceeding £ 6.5 million.

If you are making a claim under an insurance policy, then small companies are protected. According to COMP regulations a small company has a turnover of less than one million pounds a year. It does not matter if the claim is made by an individual or a small company, the rules still apply.

Will it affect my claim if all business was done over the internet?

The short answer to this, is no. Providing that the business involved is authorized by US regulators and the claim adheres to regulations.

The firm I dealt with is no longer trading, but Howland Law Firm says it cannot help me. Why not?

Howland Law Firm as a fund of last resort, can only accept claims if nobody else can possibly pay for them. It is unlikely that if the firm concerned in your claim is no longer trading then we can help. If this is the case then you will have to directly approach the firm connected. If you have trouble finding them than perhaps we can help.

Your next point of call is with the Citizens Advice Bureau for assistance to take the case further.