Question - How is the final payment made? Cheque or into the bank account?

[missyv2]

Hi I am just wondering how the final payment is made, I am claiming against Halifax and Lloyds TSB but my TSB Account is closed with a default, and I'm thinking will they pay me by cheque or just pay into my closed account and reduce the default amount??

Can anyone help ?

Thanks Zoe

[jimbo69]

It is your money so they have to pay it back to you on your terms!
If you decide you want a cheque from them then any uther form of payment can be refused.

[jimbo69]

I'm not sure when you have to tell them how you want payment, probably with prelim letter but not sure.
Someone will know.

[missyv2]

Thanks for your help. If they take it off the balance I owe them then thats how it will have to be. But I would rather put the money in savings as the money I owe them has been defaulted for some time, and is due to be taken off my credit file soon anyway. Naughty I know!

Got a claim with halifax just started also but I owe them nothing so bit more straight fwd they can pay that into account.
Thanks for reply

[bearo]

From experience a bank will offset any payment against any loan or debt you may have with them so the chances are lloyds will pay themsevles back what they pay you before you even see it,

Halifax if you account is open they will pay it directly into the account.

Sharon

[missyv2]

THANKS, to be honest thats what I expected! So not too surprised.
At least it will reduce my debt.

Appreciate it.

Zoe

[tim2718281]

I was under the impression they had to pay the money to the court, and the court would pay you by cheque.

If the bank reckons you owe it money, they can counterclaim when you sue them, and argue that the debt they owe you should be reduced bythe debt you owe them.

The fact they have taken money from you unlawfully gives them no right to priority over any other creditors you may have.

Tim

[missyv2]

Thanks Tim, To be honest I don't want to give them any money, they were so nasty and unhelpful to me when I needed them when I was younger, that I was just going to claim and put the money in my savings, then let the money I owe Lloyds drop off my credit file in a years time, as its been on there for 5 years already.
If they have to pay off the debt with the money I claim, then so be it, at least then its paid, but I'd rather them not get any!

Sorry I hate Lloyds TSB!!!
Thanks for your comments though, I'll have to see how I get on with them, either way something good will come from it I hope!

This site is great! Thanks again Zoe

[ian cognito]

Could you not wait a bit before you claim?!?

[missyv2]

Can I ask why?

Thanks Zoe

[ian cognito]

Doesn't the six years statute of limitations apply both ways, I know 12 months is a long time but you've waited this long......

[missyv2]

Yes suppose so! I'll have to have a little think, as they will probably counter claim won't they?

[ian cognito]

they would now without doubt but I notice you haven't sent your prelim yet so nothing lost by asking for your statements, is it a full 12 months?

[missyv2]

Oh no, only sent for statements today, then read some other threads and mentioned counterclaiming which worried me slightly. Its actually another 18 months left just checked my credit file.

Think I'll see how much of my balanced owed is made up of charges and if its alot I'll just get my balance reduced then pay the difference to lloyds, at least then thats the correct way of clearing it rather than leave it to fall off my credit file

Appreciate your advice though.

[ian cognito]

Probably wise, a lot can happen in 18 moths I suppose.

Good luck - keep us posted.

[bill-k]

We took out an IVA (Trust Deed) last year, and had everything closed down - credit cards, current accounts, catalogue accounts. I've now started claiming back penalty charges, and have had a couple of partial "goodwill" cheques so far (still going for the rest), plus one complete settlement cheque (just £125). I did not specifically insist on cheque payment, but they paid by cheque, anyway, so that's good.

However, one other crowd wrote back saying that the charges WERE being paid into our (closed !!) account. So, yes, they paid the money back to themselves. I sent them this letter, which I'm awaiting the reply to:

" ...I do regret that CrapBank have incurred losses due to our being lawfully granted Trust Deeds, but I would point out that our own losses have also been significant due to CrapBank’s earlier unlawful deduction of penalty charges. Indeed, I think it fair to suggest that CrapBank’s earlier actions contributed to the circumstances which forced us to seek Trust Deeds. In contrast to CrapBank’s action, our action in taking out the Trust Deeds was lawful. CrapBank were given the opportunity to object to the Trust Deeds, and did not.

Unfortunately, I have now filed a claim for the repayment of these charges, as I had not received a response to my earlier request for repayment within the time required. I would suggest that CrapBank reconsiders their continued misappropriation of our money if they intend to defend the claim, as I do not consider CrapBank’s action as full and final settlement of the matter, nor do I accept the Without Prejudice basis on which you consider it to have been taken.

If CrapBank considers that, having accepted our lawfully obtained trust Deeds, they are now entitled to retain money taken by them unlawfully from us previously, then I would suggest that they file a separate claim for it. Had CrapBank not acted unlawfully in the first place, then we would all have been better off, now...

...Yours sincerely,
Bill-k. "


I don't know if this will be any help, but I'll let you know what happens, next.

Regarding Statute of Limitations, there is much argument that this does NOT apply in the case of penalty charges, as there was deliberate concealment by the banks, thus invalidating their right(s) under the Statute. There is a thread on this somewhere.

I myself have been told by my Trust Deed administrators that any lump sums acquired will have to be paid to them and distributed amongst our creditors. So they get it back that way. I don't know exactly what constitutes a "lump sum," so I'm just going for small amounts from individual accounts one at a time. Unless anybody tells me otherwise, I shall consider anything over £1,000 to be
a lump sum, and anything less to be small change. Comments, anybody ?

Unless anybody knows how to pay off an IVA or Trust Deed early, without being stung for the original amount of debt, it looks like I'll be waiting a couple more years before claiming the big figures from our old accounts. Again - Comments, anybody ?

HTH

Bill.

[bill-k]

Tim, I just noticed - my letter seems to agree with your comments above, so that's encouraging !!

Regarding cheque payment, I don't think it is paid to the Court. A major catalogue lost to us by default a while ago. The Court simply ordered them to pay us within 14 days, which they did by cheque direct to us. Similarly, as the banks are generally settling before it gets to Court, then they are doing the same.

I really believe that we have the prior right to these charges, as they were unlawfully taken by them, whereas any debts owed to the banks were (presumably) lawfully agreed between both parties. I think they must show that their unlawful action entitles them to keep the money they pinched, before the Court will agree to them keeping it. OK., having (reluctantly) paid you your cheque, they might then have a case for asking for it back, but I think if you insist that they take you to Court over that, then they will back down. You can probably claim that you had to use it on more urgent expenses, so terribly sorry, but it's all been spoken for !!

[bill-k]

'Ere you g