Should i accept. Opinions please

AverageJoe_4

BlueAngelCV wrote: »

If it was full & final settlement on a debt why would it be upped from £95.00 to £450.00 because he wasn't happy?!

It's probably CC charges or PPI - and he's used the template letters to good effect it seems. The bank offered a pi_ss take £95 and the client was insulted (not surprised) - if the amount is £515, then take £515. By them offereing you anything in the first place, they know they are wrong.

Think of it like Deal or No Deal - the banker is offering a price for a settlement of the box - or in this case "complaint". If you Deal at £515, you would be £65 short - the difference is you know that the box value or "complaint value" is actually £515 - so why settle for less?

You can take the amount offered if you want for an easy life - up to you though but financially, they are leaving you short.

Also - if it is PPI, have you added the interst to the claimed amount?

AJ

never-in-doubt

AverageJoe wrote: »

It's probably CC charges or PPI - and he's used the template letters to good effect it seems. The bank offered a pi_ss take £95 and the client was insulted (not surprised) - if the amount is £515, then take £515. By them offereing you anything in the first place, they know they are wrong.

Think of it like Deal or No Deal - the banker is offering a price for a settlement of the box - or in this case "complaint". If you Deal at £515, you would be £65 short - the difference is you know that the box value or "complaint value" is actually £515 - so why settle for less?

You can take the amount offered if you want for an easy life - up to you though but financially, they are leaving you short.

Also - if it is PPI, have you added the interst to the claimed amount?

AJ

Well noted...... " Also - if it is PPI, have you added the interst to the claimed amount?"

Too many people forget to claim interest which can be as much as the PPI in some cases!

OneMoreTryABC123XYZ

Ok thanks for the answers, but just to clarify.

1st letter claimed £515 inc interest, reply an offer of £95

2nd letter the reply
I AM SORRY THE THAT OUR PREVIOUS RESOLUTION DID NOT MEET YOUR EXPECTATIONS.
I WOULD NOW LIKE TO OFFER £445 and this is a crucial bit TO REFUND YOU FULLY FOR ALL CHARGES TO YOUR ACCOUNT INCLUDING 8% INTEREST.

But it is short of the full amount, so as they are offering the full amount including 8% interest but the figure quoted is not the full amount should i go for the full amount

Phil

AverageJoe_4

OneMoreTryABC123XYZ wrote: »

Ok thanks for the answers, but just to clarify.

1st letter claimed £515 inc interest, reply an offer of £95

2nd letter the reply
I AM SORRY THE THAT OUR PREVIOUS RESOLUTION DID NOT MEET YOUR EXPECTATIONS.
I WOULD NOW LIKE TO OFFER £445 and this is a crucial bit TO REFUND YOU FULLY FOR ALL CHARGES TO YOUR ACCOUNT INCLUDING 8% INTEREST.

But it is short of the full amount, so as they are offering the full amount including 8% interest but the figure quoted is not the full amount should i go for the full amount

Phil

Personally at this point, I would not accept or reject their offer in such terms, but write back and suggest that "you come to a different conclusion" and show your workings out - and then ask them to "return by letter outlining their own calculations along the same lines" so that you are "able to make more of an informed evaluation". Basically you wanna see if you are wrong or if they have stuffed you.

The important bit here and where many ppl go wrong is:

Have you actually got your own facts right?? This is why I tell some ppl that giving your claim to a pro can cost, but it can get the right result.

Wait for the reply - send rec.del and if its inconclusive, offer them perhaps £500 for a full and final. This is an interesting tactic.

Basically, it shows that you are not stubborn which gives them a sense of victory as they will assume that all their letters to you have worn you down. It's like letting a "know-it-all think he's always right" - but for the self satisfaction of knowing he's actually a dikhead and you smile inwardley.

They are more likely to say yes and for sake of £15, its worth it - the negotiations you instigated for the "top money or nothing" approach would have been great ground work for a setllement figure of around £500 out of £515.. 98% of something...

That is a good result so long as you dont' cut your nose off to spit your face for sake of a tenner...

AJ

NickX

Well their offer is 87.34% of the amount you have claimed.

Personally I think I would accept this and close the case, but if you enjoy the negotation and want to push them further then go for the full amount and you will probably get it.

OneMoreTryABC123XYZ

Quick update i wrote another letter as Joe suggested they wrote back offering the full amount :beer:

Phil