Kafka v Lloyds TSB Visa ***SETTLED***

[Kafka]

:snowlol: RESULT :snowlol:

Somehow I never posted the early correspondence on this one.

This is a credit card that was withdrawn about 2 years ago, with something approaching 2k still being paid off.

29 Aug - Prelim sent

Received reply stating that they would not repay anything.

6 Oct - LBA sent

No further response to this followed. I did not file at court because the Welsh courts stay everything even if its not covered by the test case and it was a waste of time and money.

Today I received another letter out of the blue.

As a Final Response they have offered to settle charges in full, plus interest at current BofE base rate. Also "a further 14 days net interest at the same rate to make sure that you don't lose any interest while you are considering our offer".

Total charges - including a few now more than 6 years old - come to 400+ The offer provides about £50 more than the charges I was requesting, so this is still about £85 short of my full 8% total, and of course a lot less than the current 20% contractual interest.

However, its more than I was asking for in the letters and as I have no faith in either the speed or the fairness of the test case settlement that the OFT will agree, this is clearly worth accepting as it stands to get the cash in and to avoid any more work. They have still not sent me statements for their Mastercard ordered at the same time and now months overdue, so better things to chase with them now.

They seem very keen to settle this one. The cash will only go to offset about 30% of the outstanding amount, but I call this a result :cheers:

[Amy]

Re: Kafka v Lloyds TSB Visa ***SETTLED***

Excellent, well done xx

[enaid]

Re: Kafka v Lloyds TSB Visa ***SETTLED***

Sure is a result, how strange just out of the blue lol.

[Solowka]

Re: Kafka v Lloyds TSB Visa ***SETTLED***

Nice one Kaf, hopefully this will go a little way of easing things for ya

[Tools]

Re: Kafka v Lloyds TSB Visa ***SETTLED***

Fantastic news Kafka ,

I wonder if they are trying to clear their books of pending non OFT Test Case claims to put them in a good light for upcoming events . Maybe the FOS , OFT etc have been on their case for other claimants complaints and have decided to play ball for brownie points.

Either way , I think you have made the right decision accepting their (very strange) offer. Strange they have decided to use Bank of England base rate though , 5.5% I am assuming?

Nice little victory for you Kafka , and as Tesco say `Every little helps `