Offer Letter Just Received

2015golfwagon · Nov 21, 2016

Got more correspondence from VW today after having all my turned in paperwork for a long time, they are saying they are still trying to determine if I'm eligible, of course my car is eligible it's a 2015 VW TDI and I bought it new 1.5 years ago. They are thumbing their nose at the USA in my opinion and will do everything they can get away with to not pay anybody a dime.

coolbreeze · Nov 21, 2016

2015golfwagon said:
Got more correspondence from VW today after having all my turned in paperwork for a long time, they are saying they are still trying to determine if I'm eligible, of course my car is eligible it's a 2015 VW TDI and I bought it new 1.5 years ago. They are thumbing their nose at the USA in my opinion and will do everything they can get away with to not pay anybody a dime.

You are awesome. I want to party with you sometime!

Mr. Furious · Nov 21, 2016

2015golfwagon said:
...and will do everything they can get away with to not pay anybody a dime.

One of the reasons I'm anxious to get cash in hand is that I'm concerned they're going to declare bankruptcy. Yes, settlement claims will be paid out first in that case, but it would cause significant delays.

coolbreeze · Nov 21, 2016

Mr. Furious said:
One of the reasons I'm anxious to get cash in hand is that I'm concerned they're going to declare bankruptcy. Yes, settlement claims will be paid out first in that case, but it would cause significant delays.

The money is in escrow. You will be paid.

2015golfwagon · Nov 21, 2016

Yep, they are playing games big time both at the dealers and VW itself. I'm just going to keep driving the car, screw it. Not getting a replacement at this point. Like someone said in a another thread don't count your chickens before they hatch, how true, most of us will probably get nothing.

Mr. Furious · Nov 21, 2016

coolbreeze said:
The money is in escrow. You will be paid.

Of course it will. But a bankruptcy filing would throw delays into the buyback process that would make our arguments about what "ten days" means look like arguing over whether a goal was scored with .2 seconds on the clock or .3.

And gee, look what Ankura Consulting offers as one of their services:

Debtor and creditor bankruptcy modeling

chadbag · Nov 21, 2016

coolbreeze said:
The money is in escrow. You will be paid.

The money is not in escrow. Only a portion is in escrow, which has to be replenished every once in a while when it falls below a certain level to get it back above the base level.

Sigp232 · Nov 21, 2016

Well let's see what happens this week when the first VW gets turned in. There's a person here on the forums who has it scheduled 11/25 to be turned in. Will he go to dealer and they will chase him away and tell him "WHAT YOU TALKING ABOUT WILLIS"?
Or will the man get paid.

coolbreeze · Nov 21, 2016

chadbag said:
The money is not in escrow. Only a portion is in escrow, which has to be replenished every once in a while when it falls below a certain level to get it back above the base level.

I'm pretty sure we ( forum members ) are most likely the first 100k to submit our claims. How many billions are in escrow at this time?

coolbreeze · Nov 21, 2016

Sigp232 said:
Well let's see what happens this week when the first VW gets turned in. There's a person here on the forums who has it scheduled 11/25 to be turned in. Will he go to dealer and they will chase him away and tell him "WHAT YOU TALKING ABOUT WILLIS"?
Or will the man get paid.

We have one for the first day of buy backs which is the 23rd, also.

chadbag · Nov 21, 2016

coolbreeze said:
I'm pretty sure we ( forum members ) are most likely the first 100k to submit our claims. How many billions are in escrow at this time?

According to a doc I found at the FTC

"E. Within 10 business days of the Effective Date, Defendant shall fund the Escrow Account, which is the sole escrow account created under the Settlement Program, with the “Funding Amount,” which funds shall be used, as necessary, for the sole purpose of compensating consumers who submit valid claims under the Settlement Program. The initial Funding Amount shall be $1,500,000,000. If and when the funding level of the Escrow Account reaches the “Minimum Balance,” which shall initially be set at $1,250,000,000, the Escrow Agent shall alert Defendant, and Defendant shall, within 7 business days, deposit such funds in the Escrow Account as are necessary to bring the balance back to the Funding Amount."

TDIsoup · Nov 22, 2016

My letter just came through, which is great except the mileage adjustment is off by $500! Oh well I'm ready for this to be done!

9/20 Upload
10/20 Acceptance
11/22 Final Offer
VW loan

newbeetleman · Nov 22, 2016

TDIsoup said:
My letter just came through, which is great except the mileage adjustment is off by $500! Oh well I'm ready for this to be done!

9/20 Upload
10/20 Acceptance
11/22 Final Offer

Awesome, good deal! Was this with a loan, and was it with VW?

After reading this I decided to check my email.. BINGO!! Got one of mine, too.

newbeetleman · Nov 22, 2016

Mine was about 1,000 less that what it says it should be.

TDIsoup · Nov 22, 2016

Yeah mine is right around $650 less. There's a disclaimer that mentions mileage and payoff amounts affecting the final check so hopefully that's what's happening. Mine is definitely off.

newbeetleman · Nov 22, 2016

One more car to get the offer for.. Hopefully that one comes soon, that one is through my bank, not VW credit. So, I bet that one will be one of the early December guys.

michaelmijo · Nov 22, 2016

I have great news to share for owners with loans through VW Credit... Got my offer letter today! One owner, financing through VW Credit. 2015 Golf SW. Docs submitted 10/7/16, approved 10/24/16, eligibility verified today, 11/22/16. Hope this means that the end is in sight for many of us!

coolbreeze · Nov 22, 2016

michaelmijo said:
I have great news to share for owners with loans through VW Credit... Got my offer letter today! One owner, financing through VW Credit. 2015 Golf SW. Docs submitted 10/7/16, approved 10/24/16, eligibility verified today, 11/22/16. Hope this means that the end is in sight for many of us!

That's great news. I'm sure you are relieved.

Smallz · Nov 22, 2016

Just got my offer letter this morning as well. 2015 VW Jetta financed privately. Documents were verified on 10/21/16 so took about a month to get the offer letter finally. Should get it notarized and uploaded this afternoon after work.

sabbotage · Nov 22, 2016

Is anyone getting offers yet that had their documents approved in November? Mine were approved on 11/1 and I'm still waiting. It's getting frustrating at this point.

Cincy_TDI · Nov 22, 2016

Just received my offer letter on my 2015 Jetta SEL (VW Loan) with under 30K miles and the offer is actually less than the calculations all show by about $25. Not going to really argue over $25 at this point. I am ready to get my docs signed, uploaded and then move on.

by the way uploaded my Docs on 9/21, approved on 10/21 and offer received this AM on 11/22.

Mr. Furious · Nov 22, 2016

sabbotage said:
Is anyone getting offers yet that had their documents approved in November? Mine were approved on 11/1 and I'm still waiting. It's getting frustrating at this point.

Ten days became 20. I'm just hoping to get verified before it turns into 30, then 40, then 50, then never mind, VW went bankrupt and the escrow account is empty...

dmanb2b · Nov 22, 2016

There is hope, my docs were approved on 10/19. Loan with Wells Fargo. Just got the offer letter today. Off to get it notarized and returned asap.

Big_Thumper · Nov 22, 2016

Hey all - looks like the sluice gate opened at least a little for those of us with liens - I received the offer notification this AM for the wife's A3 (does that make us the first Audi?)

Docs submitted 10/3, approved 10/24, financed through Wells Fargo.

kitarkus · Nov 22, 2016

I uploaded docs on 09/20.....they had accepted (green checkmarks) on 10/21. Last Friday I finally called the hotline and they told me that I would be contacted within 72 hours. In the middle of the night last night I got my buy back letter. No surprises with the proposed buy back amount. Away we go.

TDIsoup · Nov 22, 2016

I'm just concerned because mine is right around $650 less than what every calculator online shows. I have to believe it's the mileage, which is way less than what it was predicted to be at turn in. We'll see, but I'm curious how this is thing to work. At final turn in, will I see the new adjusted amount, or will I get a second check later?

N9WSV · Nov 22, 2016

Offer letter!

I finally got my offer letter last night. VW Credit 2014 Passat
Uploaded docs 9/22, documents review 10/21, Offer letter 11/21.
I ran to UPS Store got it notarized and back to VW last night.
Now roll the dice on when I can schedule an appointment.

MrWrench · Nov 22, 2016

I received the email this morning and uploaded all the required documents at 0930. My car was financed thru Vw credit.

Marlyece · Nov 22, 2016

Does anyone know the diff between co-registrant and co-claimant? My partner is listed as co-registrant because she is listed on our registration but I'm not sure what the claimant/co-claimant section is for. Can anyone help out here? Thanks so much!

Tutkija80 · Nov 22, 2016

Communication over the phone seems to be much improved. I called this morning to follow up on a call last week. The call last week was simply that "things were being processed and there will probably delays" with seemingly no checking on status. This morning's call was being put on hold and being informed that the claim was accepted and simply waiting on an offer to be sent out.

Offer was received this morning with financing through Chase.
Documents Submitted: 9/19
Documents Accepted: 10/18
Final Offer Provided: 11/22.
Notarized Offer Uploaded: 11/22

It's interesting to note that the letter was dated 11/19 so there appears to be some lag from when letters are produced and when they are sent.

Offer Letter Just Received

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