Bank offers to settle on condition

Juanamigo

Hi,
My claim has been issued and I have been awarded a default judgement.
Barclays have now written to me proposing to settle in full.
However, they want me to agree to the following 4 points:
1. They will pay me in full and final settlement.
2. There be a voluntary Stay of Execution pending payments.
3. That upon receiving payment I must write to the Court stating that I have withdrawn my claim pursuant to a settlement between parties.
4. That I consent to the default judgement being set aside.

What does all this legal jargon mean?

What should I do next?

I have not received the payment yet.

Juanamigo

jo_ray

h im no expert, but it looks like they are gonna pay you your money provided you drop the charges against them.and call an end to the matter.
congratulations!

Stokey125

Juanamigo wrote: »

Hi,
My claim has been issued and I have been awarded a default judgement.
Barclays have now written to me proposing to settle in full.
However, they want me to agree to the following 4 points:
1. They will pay me in full and final settlement.
2. There be a voluntary Stay of Execution pending payments.
3. That upon receiving payment I must write to the Court stating that I have withdrawn my claim pursuant to a settlement between parties.
4. That I consent to the default judgement being set aside.

What does all this legal jargon mean?

What should I do next?

I have not received the payment yet.

Juanamigo

Tell them no as the judgment was properly obtained they are not entitled to attach conditions to the payment. Inform them that unless you recieve payment of the judgment as per the order within 14 days you will apply for a warrant of execution.

NMB

Write to them, stating what the above posted stated but mention that items 2, 3 and 4 will cost you time and effort but you will do them on receipt of a £50 payment for each to compensate you for the time and effort.

Otherwise bring on the bailiff.

Stokey125

NMB wrote: »

Write to them, stating what the above posted stated but mention that items 2, 3 and 4 will cost you time and effort but you will do them on receipt of a £50 payment for each to compensate you for the time and effort.

Otherwise bring on the bailiff.

Actually 2 3 and 4 should not be done in the case of 4 it actually benefits the bank as they will have one less CCJ against them. In respect of 3 you would have to inform the court in any event once payment is recieved so that they can mark the judgment as satisfied. As for 2 why should you stay execution as if you do there is no urgency to pay you where as while the judgment is there you have the option to execute it whenever you like so it is in thier interest to pay you sooner rather than later.

NMB

Stokey125 wrote: »

Actually 2 3 and 4 should not be done in the case of 4 it actually benefits the bank as they will have one less CCJ against them. In respect of 3 you would have to inform the court in any event once payment is recieved so that they can mark the judgment as satisfied. As for 2 why should you stay execution as if you do there is no urgency to pay you where as while the judgment is there you have the option to execute it whenever you like so it is in thier interest to pay you sooner rather than later.

I would prefer the chance of an extra £150 versus a random bank having an extra CCJ. As soon as the case is settled the bank have the right to have the CCJ removed. The bank are attempting to get the OP to do their work. OP is in a major position of power and should use it to their advantage.

Norfolk_Shot

I thought i'd heard it all until i read this thread....

A bank has judgement against them and then wants to attach it's own conditions on paying the money...:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

Juanamigo

Thanks everyone,
I thought that they were trying to get away with a bit more. I'll go for the option of asking for more money for my time and effort.
Cheers:beer:

JM70

I've just had a similar letter as juanamigo from Barclaycard; I have a default judgement for over 1K, and they have asked me to sign up to the same conditions. From what I can make of the HMCS information on their website someone can only apply to have a default judgement set aside if they didn't recieve the Claim form; Barclaycard infer that they did receive it but didn't get around to filing a defence in time. Can they really apply to have the judgement set aside?

Stokey125

JM70 wrote: »

I've just had a similar letter as juanamigo from Barclaycard; I have a default judgement for over 1K, and they have asked me to sign up to the same conditions. From what I can make of the HMCS information on their website someone can only apply to have a default judgement set aside if they didn't recieve the Claim form; Barclaycard infer that they did receive it but didn't get around to filing a defence in time. Can they really apply to have the judgement set aside?

They can apply but whether they will succeed is another matter. I suspect that they do not believe they may not be able to get it set aside why they are trying this rather novel solution.

JM70

Good point! Yes, if they were so damned sure they wouldn't be making an offer would they? And one way of looking at it is not so much as a conditional offer to pay as a conditional refusal to pay. OK, here goes... I feel a letter coming on.