MY CLAIM- Clear it now(account settlement) or later (sue the bank)

[Guest NATTIE]

I am not sure whether this is the best place to put this but here goes.

There are a lot of threads on all bank threads which say the bank has sent an offer for full charges but no interest but i want a cheque and they say it has to be put into the account.

Ok let us look at the logic, the bank are giving back money they have taken from you which may have lead to a debt accruing. If they pay it back, in some cases, no debt will be left or the debt is substantially reduced. The banks rarely offer interest on charges prior to suing the bank. If you want this then sue the bank and they should pay you with a cheque.

The cheque logic should be taken with caution, the bank are still owed the money and that debt will still exist. They will not write this off because they have settled the claim. The money they took from you has been returned so effectively they have given back that money. You still have the debt and it still needs paying off.

These are the two choices that you have. DEAL or NO DEAL?

 

I do appreciate that this scenario is not everybody's experience but banks are learning that offering the full amount is cheaper than paying their solicitors costs.