What is the Latest in the Brookstone Law Suit Wright v. Bank of America? – Yan

“Dear Steve,

I’ve read some of your info on Brookstone and I used to follow John Wright’s blog but he has been on a leave so I thought I’d get your input on this whole case.

I am a little concerned as lately I have not been able to get any I formation or updates on the case.

Reading your website you seem to have a lot of expertise and info on this whole bank mess and all the law firms that are involved, scam artists not withstanding.

I would just like to get a second opinion from someone not in the lawsuit and whether I should continue paying them (Brookstone) for being in a lawsuit that may never come to fruition.

Thank your for your time.

Yan”

Dear Yan,

Keeping up with the payments and participation is something only you can decide. But before you drop out, please make sure you understand what that might mean to you in additional expenses. Some of the mass joinder agreements I read and reviewed make reference to charging the consumer fees for expenses if they drop out.

Regarding the case, I’ll turn to the previous statement by Vito Torchia, Jr from Brookstone Law.

Without question, we might lose some or all of these lawsuits. Further, without questions, some of our clients might win and others might lose. It is therefore true that the retainer might do nothing more than increase our client’s loss. That is a necessary evil of most litigation, except perhaps a class action. It is noteworthy that most class members generally receive very small recoveries in a successful class action. Our goal (but not our promise) is that many of our plaintiffs will receive much larger recoveries through joinder actions than would typically occur with a class action.

The fact is that no individual who cannot afford the loss of his or her retainer should retain Brookstone, because that could be the result. We hope not, we will work zealously for that not to occur. But there are no guarantees in litigation except that the outcome is uncertain. – Source

I’ll also ask JohnWright to drop by here and comment on this as well.

Please post your responses and follow-up messages to me on this in the comments section below.

Steve Rhode Debt Coach and Author

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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