settlement cheque less than total charges

gaznkaz08

had a cheque from halifax for £220 as final settlement of charges on a credit card yet the firm i'm using said the charges totalled £530 + stat interest £ 270,

if i bank this cheque can they go after the rest,???

natweststaffmember

gaznkaz08 wrote: »

had a cheque from halifax for £220 as final settlement of charges on a credit card yet the firm i'm using said the charges totalled £530 + stat interest £ 270,

if i bank this cheque can they go after the rest,???

If you are using a firm then I would ask them.

gaznkaz08

natweststaffmember wrote: »

If you are using a firm then I would ask them.

i did, they couldn't say for sure, fills you with confidence doesn't it

esmerellda

No dont accept it, ask for the full amount plus interest.

If you have a cheque with a F&F settlement letter attched then return cheque and say thanks but i'll have the full amount pls.
If its not a full and final settlement letter then write back say thanks for the part payment can i have the rest now please, and bank the cheque.

And ditch the company you are using.

barloo69

Did you sign any document to be using this company, if you did, I imagine you might have some cancellation fees to pay.

gaznkaz08

esmerellda wrote: »

No dont accept it, ask for the full amount plus interest.

If you have a cheque with a F&F settlement letter attched then return cheque and say thanks but i'll have the full amount pls.
If its not a full and final settlement letter then write back say thanks for the part payment can i have the rest now please, and bank the cheque.

And ditch the company you are using.

after reading up it seems that it was ruled that £12 charges were fair so this would be about right as this cheque is for roughly half the amount of charges claimed by the firm which would have been £25 each or there abouts, but with no stat interest though

barloo69 wrote: »

Did you sign any document to be using this company, if you did, I imagine you might have some cancellation fees to pay.

i did sign something and to be fair they've been pretty good up until now

natweststaffmember

gaznkaz08 wrote: »

after reading up it seems that it was ruled that £12 charges were fair so this would be about right as this cheque is for roughly half the amount of charges claimed by the firm which would have been £25 each or there abouts, but with no stat interest though



i did sign something and to be fair they've been pretty good up until now

Ruled fair by whom? The OFT stated that ONLY a court could decide a fair charge. So I ask again, which court has decided on a fair fee?

gaznkaz08

natweststaffmember wrote: »

Ruled fair by whom? The OFT stated that ONLY a court could decide a fair charge. So I ask again, which court has decided on a fair fee?

i've probably read this wrong then

http://www.oft.gov.uk/news/press/2006/68-06

natweststaffmember

gaznkaz08 wrote: »

i've probably read this wrong then

http://www.oft.gov.uk/news/press/2006/68-06

Ah, that makes sense. You need to read the report(the 203kb one) especially 1.14 of the report which specifically states that only a court can decide a fair charge.