10% settlement of debt. Can I still claim?

[xc_davey22]

I'm in a bit of a predicament at the moment. Bear with me and hopefully someone can help.

 

LTSB combined my loan payment and overdraft leaving a debt of £7000 that they wanted repaying immediately. After the usual sparring matches back and forth for 2 years they offered me a repayment option. Pay £700 and the account will be closed! :)I paid it!

 

Of the £7000 nearly £3000 is bank charges. Having paid the £700 can I still claim the £3000 unlawful charges without them demanding the remainder on the account?

[Michael Browne]

can I still claim the £3000 unlawful charges

Of course you can, but don't be under any illusion that it will end up in your pocket. They will merely knock it off the original debt.

[xc_davey22]

Thats kind of my point. They say that by paying the £700 the debt is paid.

[Michael Browne]

They say that by paying the £700 the debt is paid.

Do you have anything in writing and if so what is the exact wording.

 

Not that it matters very much, one thing is for sure, they are not going to pay you £2300 net to walk away from a 'debt' of £7000

[xc_davey22]

Hence the predicament.

 

Their letter said they will accept £700 as a "final settlement".

[Michael Browne]

Hence the predicament.

 

What predicament? As I've already said you will not be paid any charges you reclaim, so it merely comes down to settling a £7000 debt for £700 or settling a £4000 debt for £700