Could anyone help please.
I started my claim against LloydsTSB for charges against two bank accounts and one credit card I have with them, and got to the point where I had sent them my LBA which was for a little over £2K in total. Then the OFT test case was announced before I filed which has basically put me in limbo.
I have since received two letters from Lloyds CSRC re the platinum card, but importantly NOT for either of the two current accounts which account for the vast majority of the charges, presumably because they know that the credit card is not covered by the OFT case.
Anyway, the first letter (Final Response) dated 26th July 2007 is as follows:
"Although we haven't changed our opinion about our charging policy, I'm willing to reduce all of the disputed charges from Aug 03 to Jan 05 to £12.00. This will result in a refund of £80.00 to your account. I am also prepared to refund 8% interest on this total of £11.03, making a total refund of £51.03. We're also going to pay you 14 days' net interest at a yearly gross rate of 5.00% to make sure that you don't lose any interest while you are considering our offer. So, the total amount we'll pay you is £51.11.
I hope you are happy with my offer and if you would like to accept it please sign the enclosed copy of my letter and return it to me in the reply-paid envelope.
Once I receive it, I will arrange to credit your account. I will hold my offer open for one month from today."
It then requires a signature to the following:
I, the undersigned, accept the above offer in full and final settlement of this and any associated issue.
No, way! Can they really do this?
Is it me or is there maths screwy?
The second letter dated 8th October goes as follows:
"Although we haven't changed our opinion about our charging policy, as a gesture of goodwill I'm willing to refund the charges in full, plus interest at current Bank of England base rate. We're also going to pay you a further 14 days' net interest at the same rate to make sure that you don't lose any interest while you are considering our offer.
I hope you are happy with my offer and if you would like to accept it please sign the enclosed copy of my letter and return it to me in the reply-paid envelope. I will hold my offer open for one month from today.
It then requires a signature to the following:
I accept the above offer in full and final settlement of my complaint against the Bank and understand that my account will be credited with this sum as soon as you receive my signed acceptance back.
What should I do? If I sign this will it jeoperdise any action re my current accounts?
PS My local court is Bury, does anyone now if they are still taking cases, or are all cases being stayed?
Thanks
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