Thread: Got a settlement offer at 8% but claiming unauthorised rate

My initial thoughts are to reject this, since I have pleaded unauthorised, authorised and statutory in the alternative. I therefore believe that the worse I would get in court would be the same as this offer.

As I do not believe the bank will allow this to get to court as the legality of the bank charges will have to be argued before the interest I believe this is a safe strategy.

Does anyone have any thoughts on this or done something similar?

Thanks
Monty

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Originally Posted by MARTIN3030

Yes agreed.
There have been both wins and losses on this one,with some Judges saying that the higher rate could be classed as punitive within itself towards the defendants.
Its up to you to decide.Info on this is available on many threads across the site.We do suggest that if you are offered the full settlement with 8% and it has not gone to hearing,to accept.
Have you actually filed an N1 yet ?

Thanks Martin and Chez for the advice.

I've submitted N1 and aq but have not been asked for court bundle yet. With what happened to Kev yesterday it's sent the jitters in me a bit, so I am tempted to take this and am also worried about how a judge would view a refusal of this offer. As I have reached AQ stage, can I write back and also claim the AQ fee? I am out of pocket for the court fee and Aq fee, and the cheque is made out to me but stating I have to pay it into the RBS account - it's frozen and part of a dmp. Also, the numeric and word amounts do not match - not sure if this is deliberate or a istake (probably the latter). Can they force me into paying the money into a specific account, or am I within my rights to tell them to give it to me unconditionally?

Thanks guys.

Did you settle at 8%? I have just received a copy of their defence from Cobbets Solicitors, I believe I should receive same from the court is that correct? Is it a difficult document to complete? At what point did they make you the offer?

Hi Winifa

I haven't yet, but probably will. The cheque is made out wrongly anyway as the written and numeric amounts don't match, so I don't think I can pay it in like that. Additionally, they have written on the pay line the account number to pay it into, but I do not believe they can dictate what I do with it - I owe RBS more than they are paying me, but don't use the account any more. Otherwise I guess they could just pay it in, although I guess I would have to agree to that as a Full and final settlement, which I probably wouldn't.

You should get a copy of the defence from the court also when you get the aq. It's easy to fill out - just make sure you follow the guidance in the library for completing it, and include the draft order for disclosure (the updated one - the link should be in the library).

Cheers
Monty

Originally Posted by winifa

At what point did they make you the offer?

About 2 weeks after I returned the aq.

Thanks for that, will let you know how I go on.