Charges & DCA Settlement, Thoughts please?

catflea

Hi Guys, first time posting on this section, so please be gently

I'm thinking of attempting to claim charges back from my old bank (RBS) but things went a little bit wrong when I was with them and all of my accounts & my loan with them was sold to a DCA. I've not gone through my statements to find out the full extent of charges but I believe it will likely be in the order to 5-5.5k :eek:

The amount of debt that was sent to the DCA was £6100 (and the accounts closed) and we agreed a settlement figure of £4600. Would this be likely to affect any claim that I might make?

natweststaffmember

catflea wrote: »

Hi Guys, first time posting on this section, so please be gently

I'm thinking of attempting to claim charges back from my old bank (RBS) but things went a little bit wrong when I was with them and all of my accounts & my loan with them was sold to a DCA. I've not gone through my statements to find out the full extent of charges but I believe it will likely be in the order to 5-5.5k :eek:

The amount of debt that was sent to the DCA was £6100 (and the accounts closed) and we agreed a settlement figure of £4600. Would this be likely to affect any claim that I might make?

Yes is the simple answer since you would effectively be saying that the settlement is no longer something you are agreeing to so the whole amount would be on the table so that would take out at least £1500.00, if that makes sense.

davidgmmafan

I can well understand your confusion, and it is a little difficult to explain. If your claim was successful then they would take the £1500 off any payout/goodwill gesture.

You do raise an interesting point, which frankly frustrates me. There are still many banks that won't engage with customers when they are incurring multiple charges. If there is any choice customers should pay off the balance ASAP to avoid incurring more charges, but if this isn't possible, ie they've passed the point of no return, then the most rational course of action is to let it go to a DCA who will be able to agree a more flexbile payment arrangement, including writing off part of the balance, since they will have bought the debt for less than its face value.

How the banks benefit from this I'm unclear on...

catflea

So, what we are saying is that If I was able to get 5k back from them I should actually expect a cheque for 3.5k?

TBH, thats fair really. Having not paid the 1500 it would be unreasonable to expect them to give back something that they never had