Why are people accepting compromise settlements???

[JulesTools]

Hi Bankfodder ,

Luckily I have been in a solvent enough position to turn down all of YB`s offers so far , but sometimes its just not that black and white . The effect of all these unlawful charges snowballing very often puts people into debt they struggle to get out of . I know if i were struggling to make ends meet with mounting debts I would probably accept a reduced offer to try and resolve my financial spiral. I have been in that situation years ago and know how desperate you can get trying to support a family . We should not be wagging the finger to anyone who accepts a reduced settlement for a good reason . The Yorkshire /Clydsedale are notorious for their delaying and underhand tactics which also puts people off taking it all the way.

 

Jules

[JulesTools]

This seems to be a recurring problem so I have made a suggestion please read

 

http://www.consumeractiongroup.co.uk/forum/site-questions-suggestions/60762-settlement-rejection-letter.html

 

Please post your views

 

Jules

[JulesTools]

But it's money you were NEVER expecting to see again, what's changed? Nothing.

 

What I do know is that already now, 1 yr into CAG's life, we are seeing people coming back to say: "I wish I'd never accepted partial settlement".

 

I'd say to anyone: Think carefully before accepting a partial settlement, you may well regret making that decision for a very very long time.

 

Hi Bookie,

I do agree with what you are saying , in an ideal world . Luckily at present I have a good job and could afford to make the choice to reject the offers made before the Yorkshire finally paid in full ( well I say full , one claim was £13 short and the other £9 short of full settlement , but to press the matter further could have been seen as vexatious to the courts) . But I have been in the position in the past when I have struggled to make ends meet for even the basic things such as food . Given the choice of waiting an extra couple of months for an extra couple of hundred pounds just for the sake of proving a point or feeding my family I know exactly which decision I would have made . I realize that by taking a reduced settlement that this makes the banks/other financial institutions efforts to string out the process all the more likely and worthwhile . Yes I agree that many members may be regretting taking reduced settlements now but hindsight is a wonderful thing when you are in a position to choose.

 

Until seeing the "Tonight With Trevor McDonald" programme ( which I actually only saw the last 10 minutes of by accident ) and visiting CAG I was none the wiser that these charges were unlawful or reclaimable , so yes , it was money I was NEVER expecting to see again and for the first time in a long while I have made a positive step towards becoming debt free with the help of the fantastic Owners , Moderators , Site Helpers and Regular Members of this site . My appreciation of which is soon to be donated to from my recent settlements .

 

My point being , that although the banks will continue to " dangle carrots" while ever people accept reduced settlements , sometimes a carrot can be all that is needed to stave off hunger . I would and do advise people to take their claims as far as possible but sometimes it is just impossible .

 

Debt related divorces , or even in the extreme suicides , are well documented for example

 

BBC NEWS | Programmes | Panorama | The money trap

 

So sometimes even accepting a reduced settlement can mean the difference between life and death . I accept this is the extreme end of the scale , but who are we to chastise someone for making the decision of taking a reduced settlement.

 

From your signature I see you are happy that your GHD iron was repaired free of charge but to some this would be furthest from their worries

 

Ok rant over , sorry

 

Jules