Part settlement

[HALIBUNNY]

I've had an offer of repayment of penalty charges plus interest in restitution. However, the bank only want to pay simple interest of 18.9% on the charges and not compounded or contractual. I would like to accept their offer which £1000. Is there a problem in accepting their offer now as part settlement and going for the rest through the court?

[dx100uk]

yes

 

you'll never get it

 

dx

[HALIBUNNY]

Why is that?

[dx100uk]

never seen a court award it after a partial settlement.

 

who and which thread of yours is this linked too?

you should really stick to one thread per reclaim

so we can see the background

 

dx

[HALIBUNNY]

The background is that I want all my charges back and interest in restitution at 18.9% compounded.

 

They are offering all the charges back and interest in restitution but only at 18.9% simple.

 

if they are prepared to pay interest in restitution they should be prepared to pay it at the contractual rate and not at simple interest which has no bearing to anything.

 

my question is do I take their offer as part settlement if they don't pay compounded and go for the difference in court or reject it and go for the lot in the court?

 

If they are prepared to pay interest in restitution they should pay it at the contractual rate at least????

[dx100uk]

and they are?

 

dx

[HALIBUNNY]

Don't want to say. They monitor sites like this. It isn't important who they are anyway. I'm just questioning the principle of doing what I am saying. Can you see any lawful reason why the difference would be denied in court?

[dx100uk]

ok well we cant comment on their passed record then can we.

 

there is no problem at all with naming companies it will never affect you claim.

 

dx

[HALIBUNNY]

I'm not asking about past records of banks. I'm stating the situation and I'm asking about how the courts might see the situation of me accepting the bank's offer as part settlement and going for the difference to get true restitution in court. To me it seems a fair claim on my part but I'm biased. I'm wanting to know if there are any legalities which would be against me accepting part settlement and going for the rest in court. Or would it be detrimental to accept as part settlement and go for the rest in court? Has anybody got any ideas?...Thankyou

[dx100uk]

as you have already been told

there is no previous successful cases

of more being gained after partial settlement

 

you will prob find the partial will be full & final anyhow

so you will not be able to go gor more if you agree to the partial settlement.

 

most banks always buff you off on their first letter anyhow.

but as we dont know who it is

what you sent in your claim pack

then it would be foolish to comment further.

 

the forum is designed to be open

so others can read the info on past threads and follow and use the info.

 

it is rather selfish to play secret squirrel

 

if all the threads were like that

 

you nor anyone would ever find what you want.

 

dx

[HALIBUNNY]

As I have already said.........I am not asking about any past succesful cases!!! I am asking for comments about the legalities which might detriment my suggested process. Yes they might say it is full and final settlement in which case it would be accepted only on condition that it is accepted as part settlement. In such a case they might not agree and not pay it which means I go to court. Or they do pay it under my conditions that it is only part settlement. I then go to court and claim the difference.

 

As this issue applies to all bank threads potentially I don't see any value in putting it under one particular bank thread. They most often offer less than you want and I'm asking about the principle of accepting offers as part settlement. From your comments it seems nobody has been succesful after accepting part settlements but you don't say whether there are any situations like the one I'm describing.....

 

I find some of your comments a bit sarkey to be honest dx and getting towards being a bit personal which is very unnecessary. If you want to try and help please answer the questions I am asking, not what you want to answer which is something completely different. If you can't answer my question, don't post. See if anybody else knows. Thanks

[ims21]

Hi

 

In my view it is dangerous to accept an offer as a partial settlement and then proceed to ask for more. While there is nothing stopping you giving it a go I just think you may put yourself in an awkward position if you had to appear in front of judge and explain why you want two bites as it were.

 

Also, how you actually play this will depend on which bank it is...some give in a lot easier than others so that will be a factor in deciding how you go forward.

 

I notice that the rate you are claiming at is 18.9%....seems an odd amount....is it the rate on the loan/card? If so, for restitution you would normally claim at a higher rate since restitution encompasses the principle of unjust enrichment.

 

A final thing to consider is to weigh the offer you have been made (which is money on the bank) against the work and possible court action you may have to take to get full restitution. Again that decision could be influenced by which bank it is.

 

ims