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I am unable to give specific details at the moment in case I sign a Confidentiality Agreement as requested by the financial institution in question.
A financial institute has agreed to refund my charges on the understanding that I keep the refund of charges confidential and sign a Confidentiality Agreement.
I am in two minds about signing this, on one hand why should I sign it the money was mine to start with and what have I to gain by signing it to purely protect them. On the other hand I think well lets sign it and get the refund without any further hassle.
What approach has been taken by other members in this position, surley signing a Confidentiality Agreement which is entirely in favour of the financial institution has to be worth something to me if I am to give up my rights to discuss with a third party.
Your opinions / guidance on this would be greatly appreciated.
Abbey asked me for the same I said no, however if you like you could say you will agree to confidentiality clause but for a a price, if they want one make them pay for one its worth something to them,
If you do agree to sign a confidentiality agreement (and if the sum is compelling no-one would blame you) ensure that it contains words to the effect that you retain an absolute right to contest future penalty charges should they apply them. In effect you are agreeing settlement on historically applied charges ONLY.
Alecto, Magaera et Tisiphone: Nemesis on Earth is come.
All advice and opinions given by Spiceskull are personal, and are not endorsed by Consumer Action Group or Bank Action Group. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.
what does it matter ? I would just sign it and get your money back. I really can't see that the bank or their solicitors will be that bothered in spending time checking you have told nobody and in fairness they probably assume that you will tell your mates down the pub anyway !
Unless Switch is your real name (I doubt it is though) then I can't see how they will find out even if you posted on here and weren't too specific.
what does it matter ? I would just sign it and get your money back. I really can't see that the bank or their solicitors will be that bothered in spending time checking you have told nobody and in fairness they probably assume that you will tell your mates down the pub anyway !
Unless Switch is your real name (I doubt it is though) then I can't see how they will find out even if you posted on here and weren't too specific.
I agree with you surreyscouse but I am also looking at this as a time of opportunity 'You scratch my back and i'll scratch yours'.
I will sign your Confidentiality Agreement if you clear the remaining balance of this debt (about 1,400) and you have the CCJ removed from my credit file as the charges were the cause of this situation and the default is removed from the payment history for this account.
I think that is reasonable in return for there request and not greedy in my opinion. Would love to slap a 5,000 payment on top but that I think would be pushing my luck so why not keep it sensible and just look at them to repair the damage they have caused.
I agree with your sentiments, but they have caused you a lot of inconvenience. If they are asking for confidentiality then it is fair to see what that is worth to them. The best suggestion would be to make it proportional to the refunded charges - and a good starting point would be 100%+
After all, do they REALLY want you to tell everyone what they did, and how YOU had to correct their despicable actions?
Alecto, Magaera et Tisiphone: Nemesis on Earth is come.
All advice and opinions given by Spiceskull are personal, and are not endorsed by Consumer Action Group or Bank Action Group. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.
Get the CCJ removed for definate and then move other lending around (once you are certain it has been removed) and save money that way. So not only will you get the £1400 you should also save a few quid each month on other lending. Makes sense to me. Sometimes you just need to do a deal with the devil and I wouldn't blame you on this occasion
I agree with your sentiments, but they have caused you a lot of inconvenience. If they are asking for confidentiality then it is fair to see what that is worth to them. The best suggestion would be to make it proportional to the refunded charges - and a good starting point would be 100%+
After all, do they REALLY want you to tell everyone what they did, and how YOU had to correct their despicable actions?
I agree Spiceskull that CCJ has really buggered me up the refund is a few pound under 1,000 so I figure them writing off the rest of the debt of 1,400 would be proportional.
I would make it clear to them that in the event that a satisfactory conclusion can not be reached then I would see it through to court and I would ensure every media source the length and breadth of the country would be offered the story (Free of charge to ensure maximum publicity) telling of there blackmail tactics they employ to refund money that is not rightly there's
have they made their offer in writing ? If not get it because the press would love to get their hands on that and shows a clear admission of guilt on behalf of the bank.
have they made their offer in writing ? If not get it because the press would love to get their hands on that and shows a clear admission of guilt on behalf of the bank.
Yes they have made the offer in writing and have also included two copies of the Confidentiality Agreement they want me to sign one of which is to be sent back to them.
They have also said in the letter that once they are in receipt of the signed Confidentiality Agreement they will then refund the charges. They have said if i do not sign it they will not refund.
have they made their offer in writing ? If not get it because the press would love to get their hands on that and shows a clear admission of guilt on behalf of the bank.
It would never be in writing as an admission of guilt. The wording is more likely to say 'commercial reasons' or 'goodwill'. However, as banks NEVER show goodwill people can draw their own conclusions as to why they have refunded the money...after all, if they WERE lawfully entitled to it they would pursue you for it...
Alecto, Magaera et Tisiphone: Nemesis on Earth is come.
All advice and opinions given by Spiceskull are personal, and are not endorsed by Consumer Action Group or Bank Action Group. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.
It would never be in writing as an admission of guilt. The wording is more likely to say 'commercial reasons' or 'goodwill'. However, as banks NEVER show goodwill people can draw their own conclusions as to why they have refunded the money...after all, if they WERE lawfully entitled to it they would pursue you for it...
Correct Spiceskull, it is words to that effect, Cost of Small Claims to costly for them to chase, but the charges they have applied are correct and legal.
On reflection of the previous posts my feeling is why should I let them off so easily, when the money to be returned is mine anyway.
I will sign their Confidentiality Agreement in return for writing off the remainder of the debt (about 1,400), and repair of my credit file.
If this is not agreed then Confidentiality Agreement will not be signed I will see them in Court and every media source I can think of will be offered the story free of charge. I'm sure black mailing tactics of financial institutions (which is exactly what it is) would be of interest to the media.
That's the spirit - push THEM around for a change. Good luck.
Alecto, Magaera et Tisiphone: Nemesis on Earth is come.
All advice and opinions given by Spiceskull are personal, and are not endorsed by Consumer Action Group or Bank Action Group. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.
Yes they have made the offer in writing and have also included two copies of the Confidentiality Agreement they want me to sign one of which is to be sent back to them.
They have also said in the letter that once they are in receipt of the signed Confidentiality Agreement they will then refund the charges. They have said if i do not sign it they will not refund.
Yeah - right!
Fine, I would say don't 'refund' them then and I'll see you in court.
I bet the next letter from them is a full refund!
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Your letter sounds quite familiar and I just wanted to let you know that you aren't the only one who has refused to keep quiet in order to get their own money back ;-)
I always say no, they moan but give in. The settlment and the agreement are independant of each other. IF they make you an offer ONLY if you sign an agreement, you write back and accept the offer by refuse the agreement. The matter goes to trial, they can not say you refused the offer, because you accpeted it but it was the other part of the agreement, the confidentialty agreement you had a problem with.
The can not use as a defence ' we offered to dettle in full but this was refused as the claimant failed to agree to a confidentiality clause'. You just produce your letter saying you accpet the sum offer but reject the confidentialty clause and that should settle the matter.
The law maybe reason without passion as Aristotle said, but hey, he said nothing about having fun when getting even!
Opinions given herein are made informally by myself as a lay-person in good faith based on personal expereince. For legal advice you must always consult a registered and insured lawyer.
Confidentiality Agreement - What to do
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Originally Posted by surreyscouse
