If I 'settle/clear' my debt with a creditor, can I then claim a refund of charges?

k993802

I know this is an extremely cheeky post, but a valid question nonetheless:

I owe the Royal Bank of Scotland about £16k (£15k unsecured loan and £1k overdraft), and I have just sold my appartment (to stop creditors putting in a 'charge' on the property) and released a healthy lump of equity.

I have discussed using the equity to clear a large number of creditors with my debt manager (EAR/Accor - service provided free) and they have suggested offering 50% of the debt amount as a start.

HERE's the scenario, I owe RBS £16k, say RBS agree to accept £14k as 'full and final payment'.
If I were to then pay them the £14k and the debt is cleared, does that then automatically mean that ALL legal obligations to those accounts are forfeited?

OR can I then submit a claim for the 'unlawfully' high penalty charges (£25+ each) incurred on the current account?

My view is that my creditor has treated this as a business transaction, so if my right is not forfeited by offering a 'full and final' payment, why shouldn't I then go on to slap a claim for a few hundred pounds onto them?


Any views would be greatly appreciated.

OberonSH

I have an outstanding loan with Barclas that's gone to collectors (CSL) but I ws still able to claim my charges back

Emmzi

It depends on the T&C they put in the full and final settlement offer ie if it is binding on both of you, or only them.

Best to post the wording of the confirmation letter/offer they send you on here.

How much do you reckon you are due back in charges?

k993802

Oh the charges are not going to be huge - probably about £200 on each of 6 current accounts (with different banks) - In all honesty, I haven't looked - especially over the last 7 years! (hmmm, that might be worth investigating properly actually.... ...i'm off to that section of the moneysavingexpert website now!)

I am not sure if it would be wise to raise a claim on 'unfair' charges while I am being granted zero interest zero penalty status by my creditors (hence my question about claiming 'post settlement' - to 'avoid rocking the boat' while I am not being charged interest...

PS Thanks for your comments!