HBOS offered reduced amount - what now?

LostBoy

Hello,
I have gone through the reclaiming process as per Martins post.

On 2nd Septemebr I sent out the initial letter asking for a list of charges.

On 29th October 2009 I sent letter number 2 asking they repaid £1925.31 of charges and accrued interest since 2002.

On 9th November I received a letter from them stating they were not accepting liabiltiy. However, as a gesture of goodwill, they would return £371.00.

what should I do now. - I'm guesing there is no point sending letter number 3 advising them of court action?
Should I just accept their offer?
and can I insist they send me a cheque rather than simply reduce my overdraft?

please advise

regards

karenww

I'm in similar situation, but with A&L have done a post the same as this so will watch yours and mine with great interest.

Hoping it's not the end for us

All the best

LostBoy

I supppose £371 is better than nothing - However, I would like the full
ammount!
anyway lets see......

LostBoy

I'm guessing most of the guru's are busy trawling through the small print of todays ruling?

Pammy

Thats an interesting situation. Today it was stated that banks would swfitly address all the claims. I do wonder if this means there will be some form of good will gesture generally for some of us to put an end to it.

This may appease some and others now won't bother apllying.

If it were me, well I would be inclined to take the money. Although its probably worth waiting to see what happens over the next week.

natweststaffmember

Anyone who has received offers can still accept and this will still not limit redress if there is further news on the reclaiming front.
Banks should have been doing this anyway.

LostBoy

natweststaffmember wrote: »

Anyone who has received offers can still accept and this will still not limit redress if there is further news on the reclaiming front.
Banks should have been doing this anyway.

How should I go about this?

they have given me an "Acceptance Form" to complete and sign. if I sign this to accept their offer of £371 it states I have accepted this as a 'settlement' . How can I then pursue the remainder?

regards

mikeyhinde

LostBoy wrote: »

and can I insist they send me a cheque rather than simply reduce my overdraft?

Why would you want a cheque rather than reduction of overdraft, wouldn't a reduced overdraft help to reduce future charges?

I'm no legal expert but I would say that if you sign the form you effectively waive your right to pursue the remainder of your charges. If you aren't happy with that risk then best to search for official legal advice and sign nothing at this stage.

LostBoy

mikeyhinde wrote: »

Why would you want a cheque rather than reduction of overdraft, wouldn't a reduced overdraft help to reduce future charges?

because I'm also on a legally binding Debt Arragnement Scheme which means the bank have already accepted the same monthly payment for the next 10 years. along with all my other creditors. they have all also stopped all interest and charges anyway. so if they just reduce my debt to them then I wont ever see the benefit of it. If they send me a cheque I can cash it elsewhere and continue with my debt arrangment scheme.

mikeyhinde wrote: »

I'm no legal expert but I would say that if you sign the form you effectively waive your right to pursue the remainder of your charges. If you aren't happy with that risk then best to search for official legal advice and sign nothing at this stage.

I was hoping to get that advice here on the forum.