Virgin Islands Sample Letter for Settlement - Counter Offer
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Always Respond in Writing Any time you respond to a settlement offer, it should be done in writing. Making sure you have all communication in writing is the best way to ensure that nothing gets confused. When you send it in writing, the insurance company can't say they never received it or try to twist your words.
A Part 36 offer must be in writing, state that it is intended to have the consequences of Part 36, state whether the offer is made to settle the whole claim or only part of it (and if so which part) and whether it takes into account any counterclaim.
(1) A Part 36 offer can only be withdrawn, or its terms changed, if the offeree has not previously served notice of acceptance. (2) The offeror withdraws the offer or changes its terms by serving written notice of the withdrawal or change of terms on the offeree.
Effect of counter-offer on Part 36 offer The making of a counter-offer does not affect the validity of any existing Part 36 offer.
Include a paragraph explaining your circumstances and details of your financial situation that you want the creditor to take into account. Enter the amount which you can afford to pay. and I want to offer this as full and final settlement of the account.
Can you negotiate a Part 36 offer? You can effectively negotiate a Part 36 offer by making a counter-offer to it, but you should be aware that making a counter-offer does not affect the validity of the original offer.
If one party makes a Part 36 offer and the other side rejects or does not accept it, then the claim continues in the normal way. If the defendant makes you a Part 36 offer which you do not accept and ultimately you do better than that offer, then it has no effect.
Your legal representative can help you write a letter that states your intentions. Within the letter, you can indicate that you reject the offer and highlight why you deserve a higher settlement amount. You should also counter their reasons for providing you with the low-ball initial offer.
