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Hello everyone,


I need some advice regarding my claim and I would be grateful of any replies.


I am claiming £780 in charges and £220 (approximately) in statutory interest from Lloyds.


I have filled in the MCOL and have been notified that the defendant has been served with the papers. The deadline for Lloyds’ response is Saturday (6 January).


Today I have received a written offer from the bank of £750.


However, although this amount almost equals the total charges, it does not cover the interest; and neither does it cover the fee of £80 (which I have paid to MCOL)


I have a few questions...


1) Shall I accept the offer as partial payment, but continue to pursue the full costs (i.e. including the total charges, plus interest and the £80 MCOL fee). Or, should I just accept the offer and leave it at that.


2) Now that Lloyds have written to me with an offer, can they consider this as meeting their 14 day deadline? Or do they still have to contact the courts with a defence/acknowledgement etc?


3) If I do not pursue this through the court, can I get a refund for my £80 MCOL?


Any replies appreciated.



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Any ideas anyone?



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Hiya Charles

This is a common prectice by LTSB of late.

Accept this gesture as part settlement, write them a letter to that effect and continue to pursue them for the rest.

I can't comment too much on the procedure for this on MCOL, as I took the N1 route, but there are references to this in the templates library.

You cannot get your MCOL fee refunded, btw.

Hope that helps . . . there are plenty of people who've posted threads on this in the LTSB section, so a bit of reading will put you straight

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I would strongly suggest you refuse their settlement offer in writing. You have already filed the claim now and to ammend it will cost you money which is non-recoverable. They still have to contact the courts.


One word of advice - you will likely find they pay this money into your account regardless of what you say. Don't spend it!

Mindzai & Lucid vs Lloyds TSB


Mindzai's Account - Partial settlement offer rejected

Joint Account - Partial settlement offer rejected


Spreadsheet for compound contractual interest and statutory (s69) interest:

Download v1.9 [Tested with Excel 97-2007 and OpenOffice 2]

PLEASE NOTE: You should fully research contractual interest before you use that functionality of this spreadsheet. If in any doubt please use it to calculate 8% interest under s69 County Courts Act 1984.

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