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Lloyds have GIVEN £750 as Full and Final Settlement


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Hello Forum


I am helping my brother claim back his charges which totals £3498 (not including interest, we do not have a figure for this) from Lloyds, and so far between the two of us we have done the following:


  1. Requested Statements
  2. Recieved Statements
  3. Sent letter asking for charges to be refunded, giving bank 14 days to respond.
  4. Banks initial response was within the 14 days, saying it would take them up to 4 weeks to give a full response.
  5. When 4 weeks was up, they responded again saying they were still sorting the claim out and it would take a further 4 weeks for them to respond.
  6. Went past the next 4 weeks, so we phoned them a week later asking where the respnse was, they said they would respond within the next week.
  7. A week later (today) we recieved letter from Lloyds saying they are going to credit in the next 10 days £750 into my brothers account as full and final settlement, and if I he is not content with this he must take it up with the Financial Ombudsman.

I have had a look at both this website and http://www.moneysavingexpert.com and have not been able to find out what I should do next. I would be grateful if anybody could help us with our next action. As yet we have not threatened to take Lloyds to court, the have 'offered' the £750 before we even goot to this stage.


Many thanks.


:confused::confused: and :-x:-x

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Also, you need to take control of the situation. When the bank say "we will respond in 4 weeks" etc then just ignore them. Stick to your timetable, not theirs.


The rejection letters are worded in such a way that you are going to offer them the chance to take it back if they don't like your terms. If they leave it there, then alter your claim accordingly (simply add the £750 refund to your schedule of charges) but if they don't respond by the date that court action should begin, just claim for the full amount without the refund and then, if they later decide to let you keep the money, you can amend your claim value at the Allocation Questionnaire stage.




Opinions given herein are made informally by myself as a lay-person in good faith based on personal experience. For legal advice, you must always consult a registered and insured lawyer.



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Thanks Big Mac, we thought this was the case, but were confused that they offered this £750 before we had even taken them to court.


:):) for now, but lets wait and see what happens.



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This is a common tactic for Lloyds (and oddly ALWAYS the same figure of £750)?.

You need to write and tell them that you will only accept the payment as a part settlement, and will continue with your claim ( I presume that's what you want to do)? and that if they don't accept these terms they are to not deposit the money in the first place or remove the money.

Inform them that If they do still deposit it or already have and leave it (maybe give them 7 days), you will presume they have accepted your terms of it only being a partial payment, and you will still proceed nonetheless.


Look at these.




These also:




(this gets to the crux of it ,the rest of the thread is interesting too, but takes a bit of time to read)




Another sample letter:






and this is always useful generally for most other matters too:



All opinions and advice I offer are purely my own, and are offered without any liability. If unsure seek the help of a licensed professional

...just because something's in print doesn't mean its true.... just look at you Banks T&C's for example !

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