Hardship Claim

[charlottetc]

My husband had his claim stayed some time ago and we asked Abbey to relook at this claim under the financial hardship rules.

 

Abbey have looked again and have made an offer of £700 less then the original claim and fees.

 

What should we do??? Settle for what they have offered or hold on and see if they will offer any more?

 

If the test case is lost we should get this all back anyway shouldn't we? Or am I reading this wrong.

 

I would appreciate your advice

[yourbank]

My husband had his claim stayed some time ago and we asked Abbey to relook at this claim under the financial hardship rules.

 

Abbey have looked again and have made an offer of £700 less then the original claim and fees.

 

What should we do??? Settle for what they have offered or hold on and see if they will offer any more?

 

If the test case is lost we should get this all back anyway shouldn't we? Or am I reading this wrong.

 

I would appreciate your advice

 

They may well not offer more, but remember that the rest of the claim is still pending the outcome of the OFT test case. Therefore, if £700.00 alleviates your hardship now, then take it but remember no bank can or will offer it as full and final settlement because they aren't allowed to do so.

[charlottetc]

Thank you.

[madjj111]

when you say they arent allowed to do so, why are they not. I was made an offer of 40% of my fees, which i accepted. What wording can i use to advise them that they are not allowed to make an offer as full and final settlement?

[charlottetc]

I was looking again at my claim which they settled in full i.e. they paid everything I asked for.

Abbey have only offfered 65% of my husbands claim, therefore thinking we should hold out a bit longer.

Are we in our rights to say we would accept £x in final settlement???

 

As always help is very much appreciated

[madjj111]

thats what i am asking charlotte, what rights do we have for telling banks they cannot make a full and final settlement, so i'll watch out for a reply to your question, good luck with your claim, its hard to turn down money your offered from banks nowadays especially.

 

this site is brilliant though and should set us on the right path

[yourbank]

thats what i am asking charlotte, what rights do we have for telling banks they cannot make a full and final settlement, so i'll watch out for a reply to your question, good luck with your claim, its hard to turn down money your offered from banks nowadays especially.

 

this site is brilliant though and should set us on the right path

Its in the FSA waiver with regards to the banks not being able to do so. It is on my signature the link to it. Page 6 I believe is where it says that.

[yourbank]

I was wrong, it is page 7

 

"(16)

if the firm attempts to resolve a relevant charges complaint after 27 July 2007:

(a)

the firm must not seek agreement from the complainant that the resolution is in full and final settlement of the matter;

(b)

in relation to such complaints, if the outcome of the test case produces a result that is more favourable to the complainant, the firm must take all reasonable steps to pay any difference in the amount of compensation actually received by the complainant and that that the complainant would have been entitled if his claim has not been settled by the firm then; and

©

the firm must explain the implications of its approach and commitment;"

[madjj111]

thankyou very much - i appreciate this, i going to go back to bank a tell them i want the rest now, the y have admitted that the should have set up and overdraft - i had 5 direct debit which where all below £2, i had insufficent credit in my account to pay - the charged me £38 for each of the dd's on same day - 5*38 - and 2 days later they did it again!

 

 

thanks for this great advice

[yourbank]

thankyou very much - i appreciate this, i going to go back to bank a tell them i want the rest now, the y have admitted that the should have set up and overdraft - i had 5 direct debit which where all below £2, i had insufficent credit in my account to pay - the charged me £38 for each of the dd's on same day - 5*38 - and 2 days later they did it again!

 

 

thanks for this great advice

They do not have to pay out the full amount but they can partially pay out on the basis that the rest of the claim will be settled on the conclusion of the OFT test case issues.