Wat now! Offer made... !?!

[skinswins]

Hi guys will start a new thread on this...

 

Been looking at the site now for a while fantastic!!

 

Sent off my prelim letter two weeks ago got a nice reply today in the post.

 

Basically only got a limit of £200 current balance around £190 and they have made me an offer of £185 and sign to say i won't proceed further.

However I total they should owe me around £460 and with interest £550 (with interest from spreadsheet).

 

What should i do cut and run or proceed?

 

Rgrds

 

P.S Keep up the good work guys!

[Thailand]

I would proceed!, the very fact they've made you an offer is, in my eyes, an admission of guilt. If they owe you 460/550 why let them keep it? It is also interesting the offer keeps you overdrawn, just - so to charge you more!!?? They would also have signed documentation stopping you from claiming in the future. Its up to you if you accept thier laughable offer, but one things for sure don't sign that! LBA and then court!

[big aid]

the interest is not apliccable until you have acvtually lodged your small claim or moneyclaim

[chriswatkins]

wrong, you can claim the interest that they have charged on thier charges, you claim 8% interset on it all when you go to moneyclaim

[Thailand]

If they owe you 460/550

 

Think there is crossed wires in here, 460 if they settle before court, 550 if it gets to moneyclaim. Regardless I say their offer is a pittance and shouldn't be accepted - but thats not my call

 

AAhhh - Chris Watkins, get it now, your refering to both types of interest

[skinswins]

Thanks guys have sent the letter thanks but no thanks,

 

should i have sent a lba?

 

Rgrds

[barryperth]

Hi Skin,

 

If your 14 days was up or nearly up when you sent the "No thanks" letter, there would be no harm in sending the LBA, as they have made you an offer which they are unlikely to increase, before it goes to moneyclaim!

 

Barry.

[Thailand]

I agree, give them another 14 via LBA. Even if they upped the offer you would have given them the 28 days required in writing when you want to sue the pants of them. May the force be with you...

[candyfloss]

I, too, have today received an offer from Mr Udy! They owe me £900 in charges plus at least another £300 in interest they have charged on those charges. I sent a letter claiming my £900 back and got the same old standard letter from Udy stating their charges are fine.....blah blah blah...the OFT have only suggested default fees of £12 are likely to be fair but he disagrees with their analysis and their current fees are both fair and legal....blah blah blah.....goodwill gesture of refunding £345.60 to my account - the difference between the £20 they have charged and the £12 they think is fair!! blah blah bloody blah!!

 

No way am I accepting this pittance! I want my money back! So I ll be sending Mr Udy a thanks but no thanks letter. Do I send a separate LBA to him too at the same time? Or do I put both LBA and "thanks for your offer but i'm not accepting" in the same letter?

[skinswins]

Guys i sent both letter's off thanks for that

 

Just to clarify because they made me an offer which i accept as a partial settlement will they credit the account then it will be all closed off. I can then persue the remainder.

 

Let me know.

 

Rgrds

[skinswins]

anyone...

[Thailand]

As far as I am aware you don't need to do anything now until the 14 days of your LBA are up. They may pay you the offer and then you will need to alter your claim (no expert!) but I believe most banks will withdraw the offer or up it.

 

I may be wrong - but if it were me I'd keep an eye on your account and prepare for MCOL, and for the lovely 8% interest that becomes applicable at that point.

 

Let us know how you get on, T

[too strong]

As far as I am aware you don't need to do anything now until the 14 days of your LBA are up. They may pay you the offer and then you will need to alter your claim (no expert!) but I believe most banks will withdraw the offer or up it.

 

I may be wrong - but if it were me I'd keep an eye on your account and prepare for MCOL, and for the lovely 8% interest that becomes applicable at that point.

 

Let us know how you get on, T

 

 

If there is a contractual interest on the account then you can claim back the interest rate that you were/are being charged, which typically with Capital one can be anything from 18% to the skies limit.

 

With that in mind the 8% doesn't look so good.