Progress with Virgin One Account (RBS) to date

15/10 Inital Letter claiming £ £641 in Charges

17/10 Quick response from Leanne Jubb at Virgin One saying charges were fair and reasonable and rejecting the claim.

29/10 Letter before action

Today I get a letter dated 3/11/06 saying that the bank is going to refund my account some £305 which they have calculated by reducing each charge to £12 and calculating the difference from the amount paid. They also suggested that if I remain disatisfied I should contact the Financial Ombudsman.

Is this a new twist ?

Sounds like a response accepting the payment as a partial settlement and indiacting I intend to persue the remainder via the courts if not settled in full 14 days from my LBA ?

Update since my last post.

3/11 £305 "charges refund" appeared in my account

7/11 replied to V1 acepting the £305 as a part settlement and saying ill persue the rest through the courts

13/11 letter from V1 saying if still not satisfied contact the Banking ombudsman.

Before I start the court claim, I am am wondering if this is going to form part of the banks defense, along the line of we have charged £12 per item and the claimant did not progress through the Ombudsman.

Anyone got any thoughts ?? should I still go after the remaining £336 + interest and Court fees ??? Any support appreciated

Dave

Some credit card providers are trying this route. Continue with your claim for the balance. Enter the refund on the spreadsheet and issue claim with new figures. You are doing everything right.

Hi gizmo,

How do I calculate the interest for the claim ??

Do I calculate interest on all the charges then take the part payment off the total of somthing else ??

Dave

If you want to accurately calculate the interest, then on the spreadsheet enter each charge as £12 instead of what you were actually charged. This will give you the £336 plus the accurate amount of interest based on each charge.

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Cool, didnt think of that, I will do that and see what it does to the interest.

Ok done the caluculation and thats £336 plus interest of £56.73 does anyone have a suggest form of words for the "Pariculars of claim" to include the refund ??

12th December MOCL issued for £394.35 + £50 court fees

22nd December Bank filed acknowledgment

09th Jan Letter from bank with cheque for full amount, strings attached being to discontinue Court proceedings without judgment and not to disclose details of setlement.

Inclined to accept the setlement and discontinue court action, but not willing to accept the gag conditions.

Am I being my former blonde self here, or have you not just disclosed details????

Sugar:p

Probably but then I havent accepted there conditions yet

True. I know that it is tempting to take them to court but what would you gain from it? I personally think that it is best to take the money, pay off some of your debts, therefore reducing interest etc and get on with life with a big cheesy smile, knowing you have won.

No doubt there are countless people who will say fight the battle, but ti appears you have acheived all that you set out to do??

Sugar:p

Yeh, am going to sleep on it, but suspect I will accept it in the end

Still thats settelment in full with interest and court fess so can count that as a sucsess

12th Jan- Settlement offer rejected.

Bank has until 17th to settle in full without strings or will proceed to Judgment on the case.