A New Way of Looking at Interest- 1st successful Claim - N'wide

[bram stoker]

I'd be happy to look this over for you P'O if you wish. Just send it to the Vamp gmail account.

[Guest bong]

Further to my post (#620) I received an email from the manager at MCOL today saying he has requested advice from the 'Civil Rules Team' and will get back to me as soon as he hears back.

 

Also found out today that my claim was issued without query on the fee front.

[bram stoker]

P'O - you have email.

[bill-k]

Further to my post (#620) I received an email from the manager at MCOL today saying he has requested advice from the 'Civil Rules Team' and will get back to me as soon as he hears back.

 

Also found out today that my claim was issued without query on the fee front.

 

Good news - well done, Bong. Just goes to show that getting arsey with 'em was NOT a good suggestion of mine, was it ? !!

 

You're a busy little "B" ain't ya ?

[Guest bong]

Evening bill. Thought it had been a bit quiet around here lately. I have had to amuse myself on the "post your post number" thread in the bear garden as I was getting quite lonely.

Catcha later:p

[bill-k]

Evening bill. Thought it had been a bit quiet around here lately. I have had to amuse myself on the "post your post number" thread in the bear garden as I was getting quite lonely.

Catcha later:p

Sorry I missed you, Bong. Got called away. I'll have to post on Bear Garden sometime - but "post your post number" sounds about as desperate as the "Win £100 for being the last post" thread !! Any jerk knows it's only the mods who can close down threads !!!

 

I've got a cunning plan, though - it involves hi-jacking BankFodder's avatar...

[Guest peed orf]

Thanks Vampiress, just had a quick look, will have to study it later. I'll be quite happy with that, if I can get it.

 

I go to bed at pm, to get up at 2am for work. so if I don't answer on an evening that's why! (yes, 7 days a week!!!)

[Guest bong]

I've got a cunning plan, though - it involves hi-jacking BankFodder's avatar...

 

can't do it - already tried that!!!

[bill-k]

can't do it - already tried that!!!

 

I should have known you'd tried !!

[Acerfan]

Can I just get something straight about interest? If you're claiming compounded contractual interest on charges & they offer in full & final settlement a refund of all the charges but not the interest, should we be accepting. Or, as they've not offered the full amount we're claiming can we take them to court? claiming the compounded contractual interest or the 8% in the alternative.

 

Sorry if it's an obvious question - too many things going on at once here...

[bill-k]

Acerfan - I know what you mean, trying to hold all this info in without dropping any. It duz yer 'ead in, dunnit ?

 

You can of course accept their partial offer (of JUST the charges) in F & F - but that's NOT why you're here is it ?? !!!

 

You can still accept what they have offered you IN PARTIAL SETTLEMENT (and you should make that clear to them, if you do). That way, you may get some cash this side of Christmas. You then carry on with your claim for the rest, acknowledging that they have been good enough to make some effort toward restitution meanwhile !!

 

Or you can totally reject their offer and tell them it's all or nothing.

 

Either way, you continue with your claim for the full amount. The main thing to remember (if I remember correctly !!) is NOT to sign any "Full & Final Settlement" forms. IMHO, there's no need, and no advantage to you in doing so.

 

I notice you mentioned claiming the 8% Statutory in the alternative. You've read up well on this, by the looks of things ! Been there - got the headache - well done, mate. Now don't let them diddle you out of the fruits of your labours !!

 

They just blinked. Don't blink back !!!

 

HTH, matey

 

Bill.

[Guest peed orf]

Does that mean, they have to pay contractual interest, before a Court claim is issued?

[Acerfan]

Thanks for your help bill-k, too much info definitely getting the better of me, specially with 5 claims going on at once - having to keep strict records of who should be replying by when & all that.

 

Will definitely NOT be accepting as full & final settlement. Just wanted confirmation as the Post Office closes at 12 & want to get my letter off asap.

 

Thanks again

[bill-k]

Does that mean' date=' they have to pay contractual interest, before a Court claim is issued?[/quote']

No, PO - they don't HAVE to pay it. If you have claimed it, then they can CHOOSE to pay it before you issue a claim in court. But the choice they usually make is NOT to pay it, and they might then try and fob you off with a sod-off letter, then offers of less than your claim, etc.

 

The choice YOU have is whether or not you want to accept any of their offers. If you don't, then eventually you issue a claim in court. They will usually then pay up at the last minute (but that is still THEIR CHOICE). They could (if they thought they had a chance) let the court case continue.

 

It is only when, and if, it ever gets that far that they actually HAVE to do anything.

 

Basically, you're negotiating until then, and both sides can offer choices and/or take them.

 

Well that's my take on the ball-game, anyways !!!

[bill-k]

Good on yer, Acerfan !

 

Yep, with 5 on the go, you look like you've got it well organised !! I'm sure that's how the banks do it, as they seem to be able to leave stuff 'til the very last minute every time !! They must have some all-dancing, all-singing spready that flags up every deadline as it comes up.

 

All the best with 'em, matey.

 

Bill.

[Acerfan]

Hi, thanks for that bill-k,

Am just about to send rejection of offer letter. Would you mind looking it over to check it out for me? Want to get this right as it's my biggest claim!!

 

Thanks again,

Acerfan

 

 

Response to settlement offer.

 

Dear Mr XXXXX

 

Thank you for your letter dated 15th November 2006

I respectfully decline your offer of settlement and request, once again, that you return to me all charges imposed on this account plus interest on these charges as stated in my letter of, totalling £XXXX.XX

 

I will accept the sum offered only as part settlement and on the clear understanding that I will pursue recovery of the remainder, with a County Court claim if necessary.

 

My letter before action dated 28th October 2006 expired on 14th November 2006. Court action will now commence.

 

I enclose an updated schedule of charges for your attention. Please note, I will continue to update this schedule, adding interest and any additional charges to my claim until the date on which my claim is settled.

 

I trust this clarifies my position.

 

 

Yours faithfully

 

XXXXX

 

Unfortunately, some of my charges are dropping off the 6 year mark cos of their delaying tactics, but hopefully will get some back in interest!!

[Guest bong]

Morning all.

You're right Bill. I think P'O you are getting confused about the interest issue because statutory interest can't be claimed before court proceedings have started, whereas you are claiming contractual interest from the outset because you think that is fair or reasonable remedy given the circumstances, not because of any legal right to do so. I think.

 

I'm not sure if you can reject a partial payment of your claim if it is offered, thus allowing you to go to court over the whole claim. I'm not sure how that would stand in court if it had been offered and not accepted. I'm not saying I know that, these are just my thoughts.

 

I also think it needs to be pointed out that if the bank pays up your charges but not the claim for contractual interest, the court might have no interest in whether or not the charges were unlawful as that part of the claim is no longer in dispute. Therefore you will be fighting the case for contracual interest on its merits alone.

 

I think it would be really useful to have a new forum section for this which allows people with ongoing or settled claims for contractual interest to post individual threads, a bit like the litigation in progress/concluded forum, with just a link to their main thread.

 

As I said above, these are just my thoughts. Don't take them as facts.

[Guest bong]

Hi Acerfan

 

I'm not trying to get in Bill's way here but I think the more help and suggestions we get with these things the better.

 

My personal opinion is that you need to decide when you are going to start your court claim. If you are going to start it this weekend, I'd change it because the letter sounds as if you are still asking them to consider your request even though you are commencing court action.

 

Thank you for your letter dated 15th November 2006

 

I respectfully decline your offer of settlement and will accept the sum offered only in part settlement.

 

My letter before action dated 28th October 2006 expired on 14th November 2006. Court action will now commence.

 

I enclose an updated schedule of charges for your attention.

 

I trust this clarifies my position.

 

However, if you're going to give them another 7 days leeway, I'd say send it like this

 

Thank you for your letter dated 15th November 2006

 

I respectfully decline your offer of settlement and request, once again, that you return to me all charges imposed on this account plus interest on these charges as stated in my letter of, totalling £XXXX.XX

 

I will accept the sum offered only as part settlement and on the clear understanding that I will pursue recovery of the remainder, with a County Court claim if necessary.

 

My letter before action dated 28th October 2006 expired on 14th November 2006 however I am prepared to give you another seven days in which to reconsider your position. Failing this court action will commence on xxdate.

 

I enclose an updated schedule of charges for your attention. Please note, I will continue to update this schedule, adding interest and any additional charges to my claim until the date on which my claim is submitted to court.

 

I trust this clarifies my position.

 

(Bold emphasis only to show my additions not that they should be stated in bold)

I think if it were me I'd go with option 1. They've already had long enough to settle, plus if they still want to do so they can - with county court interest as a minimum. I tried giving my bank extra time and they didn't respond at all. I'd say the sooner you get the claim in the sooner they have to respond.

[Acerfan]

Thanks bong,

was just about to go & post it too! Have gone with your first suggestion & will be getting court forms sorted this weekend.

[redsue]

Hi Bong

I think you've hit the nail of the head regarding a seperate thread/forum for people who have had the unlawful charges refunded but not the contractual interest.

I'm in limbo at the moment waiting for direction from the judge and it is really difficult to research the next step on the road as people are all in different forums.

How about it Mods? Anyone else think this is a good idea?

[Guest bong]

Thanks redsue. I'll post a suggestion in the suggestions forum and we'll see what happens then.

[HadEnough]

hi all a bit of advice needed

my girlfriends got a claim against halifax involving c/i [already filed at court] , had an offer yesterday offering all charges and overdraft interest [ which we didn't go for to complicated ] and the £250 court fees but saying we're not entitled to the [ £2000ish] c/i. and not even offering s69, what should we do, we REALLY need this money now, but would like to hold out for the c/i ? any ideas.

her thread is here me v helifax and will be updated with more details when she finishes work this aft

[bill-k]

Sorry guys - I was logged off for a bit (up all night !!)

 

Thanks Bong for being here !! The more the merrier, as they say !!

 

With regard to PO's claim, I personally feel that, unless the full amount of your claim is offered in settlement, then you can reject partial payment if they are attempting to offer it in full & final settlement. However, I am also of the opinion that it is best to accept the partial payment but on the CLEAR condition that it is NOT in F&F settlement.

 

Interesting point about the court just having to consider the interest, though. Good idea the forum section on this. It's a bit like a massive car boot sale here sometimes, innit ? !!

 

Well done for answering Acerfan's query. Looks good to me !!

[Guest bong]

Thanks Bill. Yes totally agree that partial payment must only be accepted as such, not in full & final. Thanks for clarifying that.

[Mindzai]

hi all a bit of advice needed

my girlfriends got a claim against halifax involving c/i [already filed at court] , had an offer yesterday offering all charges and overdraft interest [ which we didn't go for to complicated ] and the £250 court fees but saying we're not entitled to the [ £2000ish] c/i. and not even offering s69, what should we do, we REALLY need this money now, but would like to hold out for the c/i ? any ideas.

her thread is here me v helifax and will be updated with more details when she finishes work this aft

 

Personally I would reject their offer and wait for them to pay out the CI, but it really depends on your own situation.