Settlement offer from HSBC - what do I do now?

[ski1382]

Hi all, had an offer from HSBC for the full amount requested (£191.00) from my own current account. Still awaiting reply on joint current account.

Obviously am happy to get what I asked for but sent off my LBA yesterday and have added an extra £75.00 for a charge incurred on Saturday last week - making my total claim now £266.00.

Do I accept the offer as it was the original claim amount or do I ignore it as the claim value has increased? Or, do I make contact with them stating that my claim amount has increased and will only accept once they increase their offer?

 

Thanks all

[basil010]

Hi,

Sorry for the delay in replying but I have just returned from holiday.

The most important thing to remember about an offer of settlement is whether it is made as a "Without Prejudice" offer. If it is then you cannot use this as evidence at any subsequent Court Hearing. However should they not make the offer with this statement you can issue proceedings and know that you will get a Judgment at least to the amount oferred, plus the Court costs of Issue. You are also allowed to claim 8% interest on private accounts which should be worked out on a daily rate. If it is a business account you can claim 11.75% per day pursuant to the Late Payment Commercial Debts (Interest) Act.