I have asked to be payed in full by cheque because my rbos account was handed over to Credit Management Services(CMS) This account has a personal loan outstanding on it(taken out only to pay off account which was 80% bank charges)

I wrote to them rejecting their offer of full payment into this account and asked for a cheque in settlement. I will then pay off the personal loan via regular direct debit.

I have recieved a letter stating " The Bank's Customer Relations Unit has advised this office that you have accepted a full and final settlement for the reimursement of fees and charges on your account- I never signed the acceptance letter and did not return it

A figure of £1100.00 has been credited to your account,which after repayemnt of any other borrowing,has bought your accounts into credit by £171.51 A cheque for this amount has been enclosed.

Where do I go from here?

Do I cut my losses or do I fight this all the way and reject this enforced offer and stiil demand a full cheque?

All help gratefully accepted

Cheers

Baslow138

You can fight it, but you need to convince a judge to accept that you should be paid by cheque not through your account. Given that you owe them this money (I know it sucks), you will be hard fought to justify this to a judge because you ARE receiving your full settlement. There are lots of people in similar positions to you and they are generally being told that they don't really have much hope.

JMO - would be interested to hear if anyone has a different opinion to this?

Unfortunatley T4ff is right.

If you owe the bank money they are entitled to take what you owe them and give you ther difference,

It sucks, but thats how the court would see it.

Unless yo have good mitigating circumstances.

This isn't an attack on the OP, but I can't see why people are getting so worked up about this issue of the bank paying off outstanding debts with bank charge refunds....

Yes it would be nice to have a big fat wad of cash for the use of, but it's just as big a result, IMO, to be debt free and not servicing loans for the next 5 years.

I think that in most cases, it would seem that the overdraft / dca loan or whatever ends up being credited by the refund isn't the worst debt and therefore isn't the most important debt to pay off first.

There can sometimes be those that would rather worry about debt at another time and would rather go see Mickey Mouse but I think the majority are faced with bigger threats hanging over their heads than a DCA managed loan agreement.

Don't believe you are attacking and can understand your reason for asking - I always used to wonder the same. I think you do learn over time though that most people have a genuine reason for trying to obtain cheque payments in order to clear more critical debts first.

Spot on T4FF I wouldn't have taken out the debt if it wasn't constant threats on my house,family life,etc over a few quid from a 'respected' billion profit making company. We were talking a couple of payments not systematic fraud on my part.

I want the right to pay off any loan I took out over the same timescale previously agreed. Only the unlawful bank charges added to the account took the account into CMS hands. I want control back

I should add which i have on many occasions that if an offer is made prior to suing the bank they can pay into an active account with any funds if it is at CMS and the account becomes in credit to be sent out via cheque as the account would be closed at that point. I know it is not what you want to hear but you will have to accept it. I know you have written to accept it providing a cheque is sent, which they but only for the difference.

I should add which i have on many occasions that if an offer is made prior to suing the bank they can pay into an active account with any funds if it is at CMS and the account becomes in credit to be sent out via cheque as the account would be closed at that point. I know it is not what you want to hear but you will have to accept it. I know you have written to accept it providing a cheque is sent, which they but only for the difference.

Not exactly! I wrote to say I would accept if a full settlement was paid by cheque. I did not accept any offer but they paid it into the account anyway

You say the loan was made up of charges - did you claim back any of the loan?

Read here http://www.consumeractiongroup.co.uk/forum/natwest-bank/11431-nat-west-3-claims.html