tcd v rbs - late offer dilemma

[tabbycatsdad]

Hi All,

 

Some expert (and otherwise) advice will be gratefully received as I have reached a crossroads. This is my first post and I'll try to be brief...

 

I have a claim against RBS (for around £1,800 + OD interest) that started in April with the usual request for a refund which quickly led to a standard letter offering around £400.

 

I wrote with a LBA and to refuse the payment as full and final, but accepted as part settlement. The response this time was a blank refusal by RBS and their 'final word' (but I got the £400).

 

Rather carelessly I was sidetracked and didn't carry out my threat but instead wrote again two weeks ago reiterating my position and giving a further (final) 14 days.

 

I received a reply today (deadline day) with an offer of around £1,100. This is not far short of the charges total and I'm tempted to accept and avoid more time consuming hassle. However, they have imposed conditions that are unreasonable (i.e. all future charges must stand).

 

The one thing I did which was silly was claim interest from the start using the incorrect spreadsheet form (the 8% one was the only one I found back in April). However, I did change tack recently and asked only for the charges with the threat of this interest to be added in court.

 

I see I have four options:

 

1. Sign the form, take the cash (because I need it) and accept their conditions.

 

2. Accept the cash only on the basis that future charge be in accordance with the law - and in effect offer them more time to refuse/wriggle.

 

3. Hold out for the £1,403 and start the court process (because I can't extend their deadline another day longer than I have to).

 

4. Go for broke and present a more accurate claim for interest charges too - perhaps using the more recently available spreadsheet - but actually risk getting in a legal pickle.

 

What would you do?

 

Many thanks in advance

 

tcd

 

 

PS. £1,100 is a lot of money to me and I can't risk losing it. However, there is a principle here and I want to win. Is that additional £300 worth going after? Or could the bank see my case as weakened by my mistake and have a go?

[Guest BlueRuby]

PS. £1,100 is a lot of money to me and I can't risk losing it. However, there is a principle here and I want to win. Is that additional £300 worth going after? Or could the bank see my case as weakened by my mistake and have a go?

 

First thing to say here is that you won't lose the money

£300 is quite a lot of money and would obviously be very useful to you. It's your money and in my opinion you should go for it I think you could correct your initial mistake at the MCOL stage by filling in the more recent spreadsheet and using those figures in your claim. I don't think you'll get in a 'legal pickle' at this stage Oh and don't give the bank even an extra day. You've already given them more than enough time. You'll get full settlement eventually and there will be no need to agree to any conditions the bank may make (they'll probably want confidentiality - don't agree.)

Good luck and let us know how you get on

[MARTIN3030]

I second that

[tabbycatsdad]

Many thanks indeed.

 

I'll refuse the offer on their terms and request full payment with OD interest and send a new spreadsheet printout with the more accurate figures.

 

I gather I am also being advised to begin the court process at the same time (as the deadline has passed). Is this right?

 

Thanks

 

tcd

 

PS. What a great resource this is!

[Guest BlueRuby]

I assume the bank said the offer of around £1100 was in 'full and final settlement' ? In which case, they are not prepared to yield any further. You've asked nicely at least 3 times - I'd start filing your claim now . You could, if you really wanted to, write to the bank rejecting the offer and telling them you have started court proceedings but I wouldn't bother asking again. When you've filed your claim, send the spreadsheet with the correct figures (!) to the Northampton court (I'm assuming you're going to do the claim online?) with a covering letter and your claim no. Best of luck

[tabbycatsdad]

Thanks, yes it was in full and final, but they said that when I was offered the £400!

 

I think I'll start proceedings but write back one last time with more accurate interest figures. At least then they'll have a copy. I assume if I get lucky and they settle I can always withdraw my court claim (but lose the fee).

 

tcd