SGG Ltd v BOS

[louloujs]

Having successfully claimed £6000 from BOS on two personal accounts decided to bite the bullet and go for our BOS Ltd Co. Business Account...

 

09/03/07 Wrote to H/O Edinburgh with prelim letter claiming £13700 in charges. Adapted the template on this site slightly to suit!

 

19/03/07 Received letter from Edinburgh's Corporate Customer Care to say they were sending for copies to verify what we're claiming (don't they have computers at H/O?) before they can respond, but will respond within a few weeks.

 

27/03/07 Sent LBA to H/O again requesting payment within 14 days. With interest this claim amounts to just short of £16,000.00.

 

One question for now: In view of the limits etc, I would prefer to issue claim (assuming that is next step) to HBOS England address in Halifax. Is this advisable? This worked for personal claim. I just want to avoid any complications with pursuing them in Scotland. We are based in England.

 

And another one: Is MCOL the best course for a Ltd Co claim or should I go to local court?

 

Thanks for any advice.

 

Lou

[beetlejuice]

Wow!! 14K now that's impressive good luck I'll watch with interest

 

BJ

 

:)

[beetlejuice]

sorry.....is that going back 6 yrs only??

 

BJ

[louloujs]

Yes, first charge was April 02.

[louloujs]

Right then...

 

As you know, I've written two letters to BOS claiming £13900. I have today received a Without Prejudice letter of offer. BOS are offering to pay the difference between the £12 OFT 'recommended' charge and their own charge. They are offering £7214. They have literally gone through each charge (ranging from £20 six years ago to the present £35) and reduced it to £12.

 

I would like some advice on this please! I fully appreciate that the £12 suggested by the OFT is merely a suggestion and still does not reflect their true cost and this would be my argument if I pursue further.

 

In their letter BOS state: 'the regulations to which you refer are not applicable as the account in question is a business account and not a personal account.' I used a slightly modified version of this site's recommended template and made sure i did not refer to the Consumer Law etc...

 

I am tempted to contact BOS by telephone and try to negotiate a 'meet in the middle' settlement of £10500 as this is what i would consider to be an acceptable offer. My claim including interest is approx £15500 which would obviously only be awarded following a county court claim, although the risks involved are obvious.

 

Feel very positive that something is happening and it's nice to have had an offer before court action for a change, but don't want this joy to cloud my judgement.

 

(My business account is currently in dire need of an injection of funds at the moment too...)

 

So, realistic advice would be very gratefully received. Thanks.

[louloujs]

The more i think about this offer, the more tempted i am to try to negotiate meeting in the middle. Should I do this by phone or write a letter? As a company director, i feel quite daft having to ask this but want to be talking from a position of strength and without compromising myself on the phone, but do appreciate the power of dialogue...

 

If I write I imagine my letter will have to be 'Without Prejudice'?

 

Thanks again for help.

[scott150663]

The more i think about this offer, the more tempted i am to try to negotiate meeting in the middle. Should I do this by phone or write a letter? As a company director, i feel quite daft having to ask this but want to be talking from a position of strength and without compromising myself on the phone, but do appreciate the power of dialogue...

 

If I write I imagine my letter will have to be 'Without Prejudice'?

 

Thanks again for help.

 

hi lou

 

i personally would hold out for all the money inc interest as there is a huge difference in the payout to you, iwould not accept the difference as you can reclaim the whole amount,i understand you need the cash injection so the decision is yours at least write to them and reject the offer and hold out 4 the full amount as they will probably increase it.

 

good luck

 

scott

[beetlejuice]

hold out fo the full amount if you can the fact they've taken teh time to calculate teh sums involved show they take you very seriously, unless they want to produce the actual costs then your on a winner.

 

Good luck keep going

 

BJ

 

:)

[TUTTSI]

Yes I agree with Scott, I personally would send a rejection letter and you could partially accept. The only thing is I do not think they will pay you anything unless you agree to it in full and final settlement. My O/H also had a without prejudice letter last weekend with a much smaller amount offered but from HSBC, which he will be rejecting. At the end of the day you have to go with what you feel is comfortable, the court process does tend to drag out although I feel in MHO that you would be paid in full. You also have to bear in mind the size of the claim that it probably will not be small claims track!, maybe try phoning them and come to a compromise you could then put it to bed, but stick out for a sum which you are willing to take not what they are willing to give you.

Good Luck and keep us advised.

DS

[photoman]

At what point did you accept the offers on your personal account claims?

Did you hold out for the full amounts? If so you have sort of set a bit of a precedent that you can cite to them, ie: They settled at the levels you requested before, so they should do so too on this account?

Don't be concerned about the references to Consumer laws, they are just trying to scare you. We all know that the basis in law for these claims is set in common law and statute anyway, so it applies equally so to Business accounts as personal accounts.

It really is a personal choice about how much you need the money right now based upon your own circumstances, and perhaps they are aware of this, as they have access to seeing how your account is run, so just trying to tempt you. Make you own decisions balancing up your current situation against the time factors. Personally I think you will get it all if you hold out. But it really must be your own decision.

Regards the £12. Ask them to justify on what basis thay have arrived at this figure? Is it as a result of an actual costs analysis for each charge and if so can you see the breakdowns for each one ?

[make_me_happy]

Hold out as they pay in ful if you carry on, that is what happened to my claim with MBNA. They first paid me the difference, I then wrote to them accepting the amount as part payment and that i wanted the full refund and they did occasionally.

 

Keep tight...and you will get at the end.

[louloujs]

Thanks for everyone's comments.

 

Photoman - didn't get an offer from BOS on personal accounts - went through MCOL and funds miraculously appeared in accounts the day before Judgement Day - I guess that's a nice precedent.

 

I have weighed up all the pros and cons and realised that I am somewhat driven by timescales due to a short term need for funds. So, I have contacted Customer Services by email and suggested that if they would like a speedy conclusion to the matter, I would be prepared to meet them in the middle (£10,500) in full and final if agreed and paid within 5 working days. Failing to accept this compromise leaves me no alternative but to continue my claim through the courts where interest and costs will be added... requoted precedents Dunlop et al so they know I'm serious...

 

Basically, if they can't fulfill my short term need, I may as well go all the way in any event.

 

Hopefully, I will be back with positive news shortly.

 

Thanks again - there's power in this sort of support!

[beetlejuice]

Goof for you Lou...

 

Let us know, we're all right behind you..

 

BJ

 

:)

[TUTTSI]

Hi Lou, in your circumstances you have done the right thing, keep us all posted.

DS

[louloujs]

Very interesting - my husband (and co-Director) has just had a call on his mobile from our local business account manager - rather unhappy that we've chosen to pursue this course of action.

 

It would appear he's had a call from corporate customer services in Edinburgh after my rejection of their offer and proposal...

 

So the jungle drums are beating at BOS and we'll be returning the call shortly - going to stick to guns and hope that this may be resolved over the phone tonight. Interesting.

[Goldlady]

Hi, Lou, also think you have done the right thing - we are also about to reclaim limited company charges (nowhere near as much as yours) but looking to get an account with different bank first. I must admit with our cashflow i would have been tempted to accept original offer, but if you succeed it will be a victory for many of us. You don't need to say 'without prejudice' by the way and there is nothing to stop you referring to their 'without prejudice' letters in court as you are not a solicitor. So, I guess their original offer is kind of in the bag, even if they do refuse to pay the xtra (pardon the pun)

[louloujs]

Phone call from local Bank Manager was interesting. He'd been contacted by Corporate Customer [lack of] Care after we rejected their offer and decided to ring. Initially unhappy that we'd chosen this course of action, but since it was very easy to justify our claim, he had to agree with the principal of what we were doing. Call ended very positively and we hope he will be ringing Edinburgh to recommend our offer is accepted... who knows.

[louloujs]

Over the moon!

 

Have just received an email from Corporate Customer Care agreeing to meet in the middle and pay us £10,500 which will be in our account in a couple of days. A formal letter is on its way for signing and i imagine the standard 'don't complain again' clause will be in it. Again, I will be deleted this before signing...

 

It's a shame that my current financial situation has forced me into accepting less than the full amount, but timing is important and this is an amount I am certainly happy to accept. Thanks to this site and all of you who offered support and advice at least I was able to negotiate another £3500 from a position of real strength.

 

Thank you

[photoman]

CONGRATULATIONS !!

 

Great result

 

:)

 

(ps. Don't forget to show your apreciation to the site by making a donation to help it help others)

[sn00psmum]

Congratulations and well done!!! :D

[louloujs]

Yes, I will be making a donation from my winnings - with great pleasure!

 

Photoman - is there a thread where i can post my success or could you do it for me?

 

(Also wanted you to know that we quoted a paragraph of yours (regarding a breakdown of their costs) verbatum - flummoxed the bank manager completely - won't be messing with us again)

[photoman]

Yes, I will be making a donation from my winnings - with great pleasure!

 

Photoman - is there a thread where i can post my success or could you do it for me?

Send a PM to one of the Mods to get your threads title changed. I'm sure one of them will be along soon anyway? They will also give you details on filling in a little survey, and how to make a donation.

(Also wanted you to know that we quoted a paragraph of yours (regarding a breakdown of their costs) verbatum - flummoxed the bank manager completely - won't be messing with us again)

LOL !! Thet is their Achilles heel. Disclosure.

 

Make sure you keep on their case and get their offer secured in writing, and details of when payment will be recieved.

Best regards

[beetlejuice]

Where is the link to the "paragraph" Photoman? it might come in useful for my next letter

 

Thanks

 

BJ

[photoman]

Where is the link to the "paragraph" Photoman? it might come in useful for my next letter

 

Thanks

 

BJ

 

I just simply suggested when they offered a compromise figure of £12 for each charge, that they please explained how they had actually arrived at that figure?

Ask whether it was because they had done an actual detailed cost analysis of the true costs involved in each circumstance, and if so could they please provide you those costs breakdowns for each and every charge.

 

The fact is, they are just arbitarily using a figure that the OFT stated they would take action upon, if a charge was above in regards credit card charges. This was £12. However, this figure is not what the OFT are actually condoning as acceptable, nor is it a cap, and the fact remains that the Bank is still only allowed to recoup their actual cost. So ask to see them.

 

I would just like to clarify here, that I am not a Moderator or site helper. My status here is the same as everyone else's. Although I am flattered that my advice is considered useful, it is only my own opinions and not an official CAG view.

 

Best Regards

[beetlejuice]

Thanks Photoman

 

BJ