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  • FIRST POST
    • hartcjhart
    • By hartcjhart 5th Dec 17, 5:48 PM
    • 8,557Posts
    • 10,729Thanks
    hartcjhart
    credit card and 'set off'
    • #1
    • 5th Dec 17, 5:48 PM
    credit card and 'set off' 5th Dec 17 at 5:48 PM
    I checked my bank balance today and find out that nationwide have helped themselves to just over 2grand,
    they say it is their right to set off on an old credit card I had with them, I have not heard anything from them about the card since 2003 can they still take this money??
    I MOJACAR
Page 1
    • fatbelly
    • By fatbelly 5th Dec 17, 6:44 PM
    • 11,652 Posts
    • 8,783 Thanks
    fatbelly
    • #2
    • 5th Dec 17, 6:44 PM
    • #2
    • 5th Dec 17, 6:44 PM
    They are allowed to do it, and this is why you should never bank where you have debts
    • sourcrates
    • By sourcrates 5th Dec 17, 6:50 PM
    • 12,714 Posts
    • 12,055 Thanks
    sourcrates
    • #3
    • 5th Dec 17, 6:50 PM
    • #3
    • 5th Dec 17, 6:50 PM
    As above really, it’s not often it happens, but they reserve the right to do so.

    As Fatbelly says, never bank where you have debts.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • fatbelly
    • By fatbelly 5th Dec 17, 6:50 PM
    • 11,652 Posts
    • 8,783 Thanks
    fatbelly
    • #4
    • 5th Dec 17, 6:50 PM
    • #4
    • 5th Dec 17, 6:50 PM
    You could complain about the lack of warning

    Before set-off is used, a subscriber should contact the customer to inform them in clear and simple language the generic circumstances in which set-off would be used and when e.g. if the customer does not contact the subscriber
    and/or address the missed payment. This contact should be made at a time when the lender is actively considering or is likely to exercise set-off and not so far in advance of the event that the customer may no longer be aware that it
    may be undertaken. This information should be as prominent in written communications and telephone scripts as other information.
    and then refer their response to the FOS. It would strengthen your argument if the set-off has caused you particular hardship.
    • KittyHawk
    • By KittyHawk 5th Dec 17, 7:09 PM
    • 6 Posts
    • 2 Thanks
    KittyHawk
    • #5
    • 5th Dec 17, 7:09 PM
    • #5
    • 5th Dec 17, 7:09 PM
    I distinctly remember a case in which a brideís father placed two grand in her account, as his contribution to the wedding costs. Said bank promptly took it and used it against her credit card debt. I donít believe she was in arrears, but she may have been. I canít remember the outcome, but it made me very cautious about anything like that.
    • sourcrates
    • By sourcrates 5th Dec 17, 7:25 PM
    • 12,714 Posts
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    sourcrates
    • #6
    • 5th Dec 17, 7:25 PM
    • #6
    • 5th Dec 17, 7:25 PM
    They are supposed to follow certain rules and protocol, and not leave you in financial difficulty.

    It’s always worth complaining, you may have had an argument the debt was statute barred, you never know after following their complaints procedure, they may agree with you.

    Worth a try.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
  • National Debtline
    • #7
    • 5th Dec 17, 7:34 PM
    • #7
    • 5th Dec 17, 7:34 PM
    Itís always worth complaining, you may have had an argument the debt was statute barred, you never know after following their complaints procedure, they may agree with you.

    Worth a try.
    Originally posted by sourcrates

    The bank might well agree the debt is statute barred sourcrates, but it doesn't have any bearing on their right to offset the new funds against it. Better to focus on whether it was reasonable to do this and whether due warning should have been given in any complaint to the bank (and subsequently FOS), as per fatbelly's suggestion.


    Dennis
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
    • sourcrates
    • By sourcrates 5th Dec 17, 8:13 PM
    • 12,714 Posts
    • 12,055 Thanks
    sourcrates
    • #8
    • 5th Dec 17, 8:13 PM
    • #8
    • 5th Dec 17, 8:13 PM
    The bank might well agree the debt is statute barred sourcrates, but it doesn't have any bearing on their right to offset the new funds against it. Better to focus on whether it was reasonable to do this and whether due warning should have been given in any complaint to the bank (and subsequently FOS), as per fatbelly's suggestion.


    Dennis
    @natdebtline
    Originally posted by National Debtline
    Agreed Dennis, I was looking at the situation as a whole, complaints have the power to reverse banks decisions, so the more ammunition gathered against them the better.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • poppasmurf_bewdley
    • By poppasmurf_bewdley 5th Dec 17, 9:18 PM
    • 5,060 Posts
    • 5,202 Thanks
    poppasmurf_bewdley
    • #9
    • 5th Dec 17, 9:18 PM
    • #9
    • 5th Dec 17, 9:18 PM
    They are supposed to follow certain rules and protocol, and not leave you in financial difficulty.

    Itís always worth complaining, you may have had an argument the debt was statute barred, you never know after following their complaints procedure, they may agree with you.

    Worth a try.
    Originally posted by sourcrates
    Doesn't statute barred just mean that they can't take legal action to recover the money, not that the money isn't still owed? That's how the DWP look on debts more than six years old - they can recover them by deductions of benefit, pensions, etc.
    "Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds nought and six, result misery." Mr Wilkins Micawber in David Copperfield by Charles Dickens.
    • sourcrates
    • By sourcrates 5th Dec 17, 9:26 PM
    • 12,714 Posts
    • 12,055 Thanks
    sourcrates
    Doesn't statute barred just mean that they can't take legal action to recover the money, not that the money isn't still owed? That's how the DWP look on debts more than six years old - they can recover them by deductions of benefit, pensions, etc.
    Originally posted by poppasmurf_bewdley
    Yes thatís correct, maybe the bank has a conscience I donít know.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • hartcjhart
    • By hartcjhart 6th Dec 17, 4:15 PM
    • 8,557 Posts
    • 10,729 Thanks
    hartcjhart
    thank you for the replies,spoke to the bank again today and made a complaint,they say they wrote to me(at an old address) but they did not write to me at the address they had for the flex account that they have taken the money from as they did not have to!!,
    I will update after they go through their complaints proceedure
    I MOJACAR
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