Question about banking cheques when amount is in dispute

misschicken

I have received a cheque for an upheld claim.

Between receiving the upheld/settlement amount letter and receiving the very delayed cheque the settlement amount has been called into question. The cc company are aware of this but have gone ahead and sent the cheque for the disputed amount anyway with a letter saying it is full and final settlement. The detailed breakdown of the settlement figure they're meant to be sending and the explanation of their method of calculation is yet to materialise. Can I bank the cheque and send them a letter saying I am accepting the cheque as part-payment only, pending the arrival of the full breakdown of their figures and whether those prove to be accurate/acceptable?

I don't want to do anything which would then scupper any chances of getting everything due back to me but at the same time I've been waiting so long for some money from them that I do really need to put it to use, even if it's not the full amount.

di3004

Hi there
Hopefully someone will know the best answer for this, and I understand there is so much time limit on when to bank your cheque, so long as its done by then, hopefully they should not be too long sending you the detailed breakdown, keep at them to chase on this, good luck.:beer:

amersall

Is the amount that is disputed less than the cheque amount?,if it is, i would hang on, you may end up owing them money.

If the disputed amount is more than the cheque then accept it as part payment until you get the new figures.

misschicken

The amount they've sent me is too low, the dispute is over their interest calculations. Based on how the cc have acted so far I'm guessing I'll end up having to take it to the FOS to try and get it rectified - another reason for banking what they've already sent as it'll probably be a long wait at the FOS. I just didn't want to bank it and then have both the cc company and possibly the FOS say that by doing so I've accepted it as a full and final settlement. Think I'll hold off for a few days and see if the cc company's calculations show up (bet they don't!) - then send them a part payment letter and bank the cheque. Two steps forward, one step back, progress nonetheless