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Dieselgate - VW Group Emission Scandal Discussion around the VW Dieselgate Emissions scandal. Details and news updates can be viewed here: http://forums.tdiclub.com/showthread.php?goto=newpost&t=448336 This forum is a work in progress depending on requirements, usage, etc.

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Old June 13th, 2017, 08:07   #46
JCG57
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The financially prudent action for Bosch would be to make the lowest level payments first, deferring the higher payments as long as possible. I am expecting four checks (three 2.0 liters VWs and one 3.0 liter Audi), primary owner on one and secondary owner on three, and have not received anything yet.
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Old June 13th, 2017, 08:22   #47
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Originally Posted by JCG57 View Post
The financially prudent action for Bosch would be to make the lowest level payments first, deferring the higher payments as long as possible. I am expecting four checks (three 2.0 liters VWs and one 3.0 liter Audi), primary owner on one and secondary owner on three, and have not received anything yet.
I am not sure why it would be "financially prudent" to pay the smallest claims first. Presumably, they know approximately what the total payments will have to be, and have reserved the money to make all the payments. Once the money has been reserved, delaying paying it out gains the corporation nothing, as far as I can see.

In fact, the longer the delays, the greater the likelihood that some recipients will have moved and/or otherwise cannot be reached for payment.
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Old June 13th, 2017, 11:37   #48
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Once the money has been reserved, delaying paying it out gains the corporation nothing, as far as I can see.
Unless the payout money is borrowed money, paying out later allows the corporation to earn interest on the money as it sits. Granted, interest rates are very low, but 1.0% of $1.5 billion is still $15 million dollars, or about $1.25 million per month. With that much money sitting in an account, it might be generating a higher interest rate.


Looks like the $1.5 billion number included fines. Owners only get paid out about $300 million, so the interest generated goes down a quite a bit to about $250k a month.

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Old June 13th, 2017, 18:42   #49
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Since the money has been in an escrow account for awhile, I doubt Bosch is getting any interest. Most escrow accounts I've ever seen don't accrue interest, so they're probably just waiting on VW to get the paperwork in order.
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Old June 14th, 2017, 19:03   #50
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Gee, if everybody posts daily that they did not receive a check that day, this thread is going to have a lot of posts by the time things eventually wrap up.
I have not received my check yet
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Old June 15th, 2017, 08:08   #51
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Since the money has been in an escrow account for awhile, I doubt Bosch is getting any interest. Most escrow accounts I've ever seen don't accrue interest, so they're probably just waiting on VW to get the paperwork in order.
I've had real estate escrow accounts that paid interest. It was kept in the account to offset the annual tax rate changes so my payment did not change as much. That was also when interest rates were in the 6-7% for savings and mortgage rates were in the 9-10% for most buyers.
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Old June 15th, 2017, 08:53   #52
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All money gains interest somewhere for someone, lol.
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Old June 15th, 2017, 10:29   #53
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Since the money has been in an escrow account for awhile, I doubt Bosch is getting any interest. Most escrow accounts I've ever seen don't accrue interest, so they're probably just waiting on VW to get the paperwork in order.
you're getting hosed if you don't get any interest in an escrow account, it may not be worth while but it should still have something.
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Old June 15th, 2017, 12:25   #54
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I'm guessing that I've had 8-10 mortgages and only one offered interest on the escrow account and all but one required it. That one discounted a half percent on the mortgage if you used their escrow account.
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Old June 15th, 2017, 15:18   #55
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Everything else about this settlement was negotiated, so why not interest on escrow accounts? Time value of money - pay out smaller claims first and stretch the process out as long as the settlement permits and pay via check where allowed instead of via ACH or EFT.
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Old June 15th, 2017, 18:55   #56
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Received my Bosch payment today. Car was a 2015 Golf TDI owned/financed from VW, did the buyback in February. Check from Bosch today for $350. Hopefully I'll get the one for my 2015 Jetta TDI (same ownership/finance and dates) in the next few days. Didn't require anything else from me claim wise.

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Old June 16th, 2017, 05:46   #57
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Received my Bosch payment today. Car was a 2015 Golf TDI owned/financed from VW, did the buyback in February. Check from Bosch today for $350. Hopefully I'll get the one for my 2015 Jetta TDI (same ownership/finance and dates) in the next few days. Didn't require anything else from me claim wise.

Ben
Nice. I'm ready to get paid...again, lol.
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Old June 16th, 2017, 07:13   #58
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This morning my USPS informed delivery is showing a letter from Bosch Settlement, not the post card that I've received several of - hoping it is the check. FWIW my buyback date was March 30th.
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Old June 16th, 2017, 07:29   #59
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This morning my USPS informed delivery is showing a letter from Bosch Settlement, not the post card that I've received several of - hoping it is the check. FWIW my buyback date was March 30th.

So the envelope clearly says Bosch Settlement ? I have been opening everything even the junk mail so I don't throw it away
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Old June 16th, 2017, 07:59   #60
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So the envelope clearly says Bosch Settlement ? I have been opening everything even the junk mail so I don't throw it away
It's a letter size security envelope with a clear window though which I can read my mailing address and return address "Bosch Settlement, PO box 4199, Portland OR 97206-4199"
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