Thread: Full And Final Settlement (lloyds)

Has anyone any knowledge re Claimants stuck in the "Stayed" cases awaiting The final decision re the "Test case" Writing to the Bank and attempting a without prejudice Full and final settlement.

I was shocked/surprised when a colleague decided that enough was enough and that he had seen some info from another site and that he was attempting the above.It is obviously everyones personal decision to carry on to the end of the proceedings.

Could/would anyone highlight the pros and cons of such a settlement attempt, especially as to the % of full and final offer, he was advised to negotiate up to 30% less than the claim

Any advice/information will be gratefully received, as my effort has so far fallen on deaf ears, both to him and his other half.


"EXEMPLO DUCEMUS"

I would be amazed if Lloyds agreed to any settlement. He has nothing to lose by trying, but I feel he's just wasting his time.

he had seen some info from another site and that he was attempting the above....
...he was advised to negotiate up to 30% less than the claim

Was this based on any successful cases? Would be interested in a link to the site

Michael Browne,

From what I was told at the time it seems they seen a snippet on morning T.V.then went to a site" money tips" and found template letters, re reclaim bank charges.I do not know if there have been any successful attempts at negotiations as a result of the site.
I will ask them for further info when they return. The only site I can think of is Martins money tips.
When you say you would be amazed if Lloyds agreed to a settlement and they would be wasting their time, are there any specific reasons or argument, that I could relay to them, as I personally think they should await in this instance the final decision in the "test case".
Several years ago, before the mass "staying" of court cases, In which I personally have 2, I successfully negotiated with Lloyds re a business account and came to a very good (IMHO) conclusion, therein lies another story. However I still think they should hang on in with the rest of us. If you or anyone else could offer info/advice it will be gratefully received.

"EXEMPLO DUCEMUS"

Originally Posted by JGJ

From what I was told at the time it seems they seen a snippet on morning T.V.then went to a site" money tips" and found template letters, re reclaim bank charges.I do not know if there have been any successful attempts at negotiations as a result of the site.
I will ask them for further info when they return. The only site I can think of is Martins money tips.

Ok, I assume you're referring to this from MSE:

It could be possible to speed up the process
If you want a speedy settlement, one tactic is to offer the bank the option of settling for a lower amount if it pays out now. How much lower depends on you, but 25% less is a good rough guidance. There’s no need to do this, it’s your choice, though if you choose to the letter below is drafted to help. Do note the phrase ‘without prejudice’ I’ve used, it’s crucial. It means that the offer isn’t binding or admissible in any further legal process.

Which is fine as it goes and as I've said he has nothing to lose by trying, and you never know, it might just work. If it did, there would be plenty of success reports on MSE, but I'm not aware of many or indeed any partial payments for bank charges other than those made under Financial Hardship


When you say you would be amazed if Lloyds agreed to a settlement and they would be wasting their time, are there any specific reasons or argument, Lloyds, in particular, are playing hard ball and compared with other banks, seldom make offers of refunds even where the claimant has demonstrated severe financial hardship, which is why I would be surprised


Several years ago, before the mass "staying" of court cases, In which I personally have 2, I successfully negotiated with Lloyds re a business account and came to a very good (IMHO) conclusion,

Prior to July 2007 this would have been the norm, but since the fsa waiver things have changed significantly

Michael Browne,

Thank you for your speedy reply and information, it is greatly appreciated.

"EXEMPLO DUCEMUS"