settlement offered but...

[jlc]

the bank will only credit onto my account. After 7 monthes of chasing the bank, they have finally admitted to approx £1500 refund. However I am now having to argue and chase for this payment to be sent to me rather than for them to take it off my outsanding balance.
Can anyone give me advice on this?
Im furious that the bank is trying to pressure me into what they want and not settling as I have asked from day 1, which is for a full refund to be sent to me.

[WendyB]

Re: settlement offered but...

If you have outstanding debt on this account they will set of the refund against the debt. Sorry!

[Amethyst]

Re: settlement offered but...

If you are in a DMP or IVA then you could argue for it to be sent direct to you so you can keep in the terms of the DMP /IVA ie distribute proportionally and not make anyone a preferential creditor.

If its just a debt then yes it will just come off the balance....if the charges came out the debt then you havent paid them anyway...if you know what I mean. And the refund should put you in the position you have been in now if the charges hadnt been taken. (which we all know it doesnt cause decision making may have been different but thats the general idea)

[jlc]

Re: settlement offered but...

Appreciate the replies, but I have claimed from another credit card and they sent me a cheque for the refund. Even though I have am still paying my account every month with them - they did not offset. I have never received any info from Co-Op to say that this is what they would do. So this is why I have been a bit confused on this issue.

[Glenn UK]

Re: settlement offered but...

If you have incurred any court costs though you ARE entitled to them back by way of cheque, as the others have said if you owe them then theya re entitled to offset against the debt i believe.

HTH

Glenn

[Paule]

Re: settlement offered but...

Have you filed at court?

I believe that you are entitled to get any court fees returned to you, and the rest goes to offset the debt.

[Xena]

Re: settlement offered but...

, as the others have said if you owe them then theya re entitled to offset against the debt i believe.

HTH

Glenn

This wasn't the case for me, i have claimed back against Barclaycard and Access on mine and my o/hs, they sent us cheques and did not use it towards the CC debt.

[Glenn UK]

Re: settlement offered but...

Xena

This is good for you, but there is a world of difference IMHO between asking and forcing.

The point is that generally a creditor in this field has the right to offset money they owe you against your debt by virtue of the T&C.

If they choose to send you a cheque that is fine, there is IMHO a potential issue with going to court over this issue alone.

To clarify that last statement, if you have a claim and for whatever reason you end up at an allocation/case management hearing and a settlement is reached, i would make sure the issue of how it is paid was raised and hopefully found in favour of the claimant.

However, i would not proceed to court with the only issue being how i was paid unless there was an IVA or DMP in place which sets out terms of dealing with my creditors.

JMHO

Glenn

[Xena]

Re: settlement offered but...

Xena

This is good for you, but there is a world of difference IMHO between asking and forcing. I agree, I was expecting them to offset the claim against the debt, so it was a damn nice surprise when i received cheques for all 4 CC claims.

The point is that generally a creditor in this field has the right to offset money they owe you against your debt by virtue of the T&C. I agree, so why they sent me cheques I dont know and nor will i ask.

If they choose to send you a cheque that is fine, there is IMHO a potential issue with going to court over this issue alone. All four claims were struck out in court in my favour due to non compliance of bundles.

To clarify that last statement, if you have a claim and for whatever reason you end up at an allocation/case management hearing and a settlement is reached, i would make sure the issue of how it is paid was raised and hopefully found in favour of the claimant.

However, i would not proceed to court with the only issue being how i was paid unless there was an IVA or DMP in place which sets out terms of dealing with my creditors.

JMHO

Glenn

Just my views

[Paule]

Re: settlement offered but...

Any updates on This JLC?