help, dilemma?

spiritual

hi. i am claiming 3300 in charges and additional 700 in interest from natwest. had standard 6- 7 week reply. kept phoning them. then i asked one the other day if my offer had been validated. he said yes, and i asked if he could confirm amount. They offered charges of 3300 as goodwill gesture however letter wont go out until 56 days from them receiving 2nd stage complaint. Is it worth chasing interest of 700 and writing to them now?

natweststaffmember

This bit is up to you, the bank will not pay any interest without you suing them in court. If you want to wait you will get just the charges back, and not any of the interest which, let's be honest, the bank have charged you. Your claim and your call. If you threaten them with court, do you not want to follow through? Remember, the advice and support is here, they already want to pay up, what do you think? It is YOUR claim

Edinburghlass_2

However, as the bank have offered you the full amount of your claim you would need to provide a good reason to the court for turning this down.

natweststaffmember

I am not sure on that one edinbugh, they have offered her charges and not the interest. The claim is not complete without that bit. On a blatant technicality they have not offered her the COMPLETE refund. JMHO

EDIT: the verbal offer means nothing in law unless it is in writing. If it was in writing then the advice would be different.

Edinburghlass_2

natweststaffmember wrote: »

I am not sure on that one edinbugh, they have offered her charges and not the interest. The claim is not complete without that bit. On a blatant technicality they have not offered her the COMPLETE refund. JMHO

EDIT: the verbal offer means nothing in law unless it is in writing. If it was in writing then the advice would be different.

Sorry I'm not sure where you are coming from with this? As far as the bank is concerned the claim is for £3300 as the interest is awarded by the court should a case be taken to court. The OP hasn't taken the case to the court. From Martin's article....

Charge interest on top If you won via the courts, you would be entitled to add 8% interest (not compounded) on top from the date you were ‘first deprived’ of the money (i.e. the date of each charge). Therefore you may want to ask for the interest as part of the initial claim. It's important to understand that you are not legally entitled to interest unless you win in court, yet all prior letters are a tool of negotiation; think of it a bit like haggling.

You may get lucky and get the interest on top, but even if not, the legal feedback I've had is that it’s one route to pushing the bank to settle quickly so it can offer to pay you without the interest. Of course there is a risk that asking for too much makes them less likely to settle too - sadly this is an art not a science. This isn't an easy concept so I've recorded a quick audio file which may help explain it.


However, it is up to the OP if they want to wait on the written offer from the bank or to write again and start a court action.

spiritual

natweststaffmember wrote: »

I am not sure on that one edinbugh, they have offered her charges and not the interest. The claim is not complete without that bit. On a blatant technicality they have not offered her the COMPLETE refund. JMHO

EDIT: the verbal offer means nothing in law unless it is in writing. If it was in writing then the advice would be different.

hi

thanks for advice, how ever i am a he!

as i am yet to wait for the offical offer should i write to them and reject? or negoiate.

Part of me feels not to be greedy,i was irresponsible in past and getting most of money back.
As money is Gesture of goodwill what is to stop one trying to take bank to court in future!

I am of to vegas at end of the month so cash woulud be handy too!

Beate

For me it's an easy decision: The bank has offered you a full refund of your charges, you are not entitled to the interest without going to court, so take the money and run. A court claim filed simply because you want the interest as well even after you have received an offer for the full charges amount, will NOT go down well with a judge.

spiritual

that is true , after all the stress people are going through.
i just sent two letters and waited anxiously!

natweststaffmember

Ok, I still disagree. The bank have stated a verbal offer. I will tell you i will send you 1million pounds in the post and it will take 56 days, do you believe me? A verbal offer means nothing in Law. If you write a letter stating refund in 14 days, then state 14 days and I will see you in court. If they fail to respond or merely verbally state an offer is pending, that has no status in Law. If you sue them at court and their offer arrives then you have sued the bank. Edinburgh, my point is if HE(thank you for correcting me:) ) has not got a written offer, then he has every right to sue as per his correspondence unless he chooses to wait. Legally telling someone verbally that an offer will be made is not legally binding. Will they use this against the claimant in court? Nope, the letter clearly states timescales, and the OP would be following Civil Procedure Rules. The bank chose not to comply reasonably so tough luck on the bank.