Wondering why they do this

[Bovvered]

Wondering why some banks wait for you to take action before settling. Why do they do this? - I mean yesterday they could have paid in full, but they didn't, knowing full well if I file a court claim against them they will end up paying the full amount plus interest plus court costs, which even for a £500 claim they end up paying another £200 ish on top.

 

So, why do they do this? Are they gambling on the fact that a proportion won't go through with it and will settle for the half refund they have offered, (even though the claimant has gone through the long process of the DPA request, prelim letter and LBA route), and which the banks hope, over all will cost them less?

 

Just curious because all three of my claims have got to moneyclaim stage....

[Spiceskull]

So, why do they do this? Are they gambling on the fact that a proportion won't go through with it and will settle for the half refund they have offered,

I think you have answered it in this sentence...

[Bovvered]

I think you have answered it in this sentence...

RATS - I was hoping for a really intellectual debate here Spicey, and you've ended it in the 2nd post lol!

[Spiceskull]

C'mon - they do it because they are moronic, stubborn and don't really know what else to do. Effectively they think that if they hide their heads in the sand the punters, and the problem, will just go away and shut up.

 

I remember Vamp and I discussing this a few weeks ago...her take was that the bank would turn to me and say: "look mr. skull, here's your money, now just fu*k off and leave us alone...please just leave us alone..."

 

That is what they are trying to do...and they are failing miserably...:)

[Bovvered]

You're telling me - I had to file 2 claims today, which for the banks concerned is costing them £200 and £300 extra each just in costs and interest....I wonder what the ratio of people who get as far as LBA but don't bother with moneyclaim is v those that do...?

[Spiceskull]

I'm sure it is down to individual circumstances, and the banks must take this into consideration. They see someone with a bad financial history who is claiming say £3K. They KNOW that this person really really really could do with £1,500, and therefore this is what they offer. It's 50:50 whether this will be accepted, but in a game of poker you do need to take these chances.

 

The one that gets me is where the claim is for less than £500 - I don't believe anyone is so desperate for half that amount that they are not prepared to wait the extra couple of weeks for full settlement. Maybe I am wrong on that, but it is down to personal choice whether or not to accept...

[Bovvered]

Yeah I see what you're saying - this is like one big poker game to them then isn't it?

[babylon]

 

The one that gets me is where the claim is for less than £500 - I don't believe anyone is so desperate for half that amount that they are not prepared to wait the extra couple of weeks for full settlement. Maybe I am wrong on that, but it is down to personal choice whether or not to accept...

 

Couple of weeks?.

 

It is now over 10 weeks since Barclays offered me a 50% {full & final settlememnt}, which I refused.

 

I am still waiting for a court hearing date. and don't expact the matter to be resolved within the next month.

[Spiceskull]

It is now over 10 weeks since Barclays offered me a 50% {full & final settlememnt}, which I refused.I am still waiting for a court hearing date. and don't expact the matter to be resolved within the next month.

Did they submit an acknowledgement and then a defence?

[babylon]

Exactly; and if you take a look at the Barclays section, they seem to have a clear strategy of holding everyone on a string until the last possible moment.

 

There is at least 15 cases waiting for court hearings right now.

[rivendale0506]

This must be a new tactic for Barclays, because up till now (according to the survey) on average they have been taking only until stage 2 to return money, whereas the average for halifax Customers is stage 3.

[Bovvered]

This topic was closed on 10 March 2019.

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