can the bank legally take £10,000 out of my fiance's account if half of the money ...

michael1983l

stebiz wrote: »

I'm still trying to work out how 'Please help as this is very very close to destroying our children's Christmas' translates into the above.

I'm sorry but I have nothing but contempt the the banking industry which we own. It is built on greed. As for the bank 'allegedly' removing 10k from an account the day after they had received and signed for a letter, informing them that the client is going on a DMP. I'm sure the Banking Ombudsman would love to investigate.

Stebiz

Why would the ombudsman investigate. It is expected action by the banks, they would all act in the same or similar way and they are well within their banking code and law by doing so. It looks like I am going to have to search out the content for this and link it because people are clearly not getting the point. Give me 5 minutes.


EDIT

Why do clients have to change their bank account?
If you have a current account with a company who money is owed to, they will be required to open a new bank account. This is not only the case with a Debt Management Plan but you should change your bank account if you are going to make reduced payments to a company that you also bank with. Banks have the Right to Offset so any money in a current account could be used to pay another debt with the bank.

http://www.northmortgages.co.uk/help-advice/debt-management

BOB_A_H

AnxiousMum wrote: »

Have to disagree on the purpose of the site - it's not to screw the big guy, it's about assisting each other with responsible use of credit, investments, benefits etc. Your post above is like someone coming on and saying the forum is about 'helping me defraud benefits', not 'what assistance can I get when I'm down on my luck'.

You owe someone money (alot of it), you had money in an account they could legally take it from, and they did. Unfortunately, if you're looking for people to say you were robbed, you were ripped off......etc. etc., I don't think you're going to find that. If you find the truth offensive, well, what can I say?

I find it very hard to believe that someone entering into a debt management program was able to get a mortgage, joint or otherwise, if being totally honest about outstanding debts and how they were going to be dealt with.

Re spoiling the kids Christmas - you don't have to do that - not spoiling ours at all, but refusing to get into debt over it. Do a Christmas within your means, and it will be alot more stress free!

And the humanity bit comes in exactly where? And your assistance to buttons problem comes in exactly where? You are defeating your own argument.

stebiz

michael1983l wrote: »

Why would the ombudsman investigate. It is expected action by the banks, they would all act in the same or similar way and they are well within their banking code and law by doing so. It looks like I am going to have to search out the content for this and link it because people are clearly not getting the point. Give me 5 minutes.

But surely if they are informed that the client is on a DMP, then each creditor would be entitled to a piece of the pie. I'm not saying the client would get it all back, but each creditor is entitled to a sum pro rota. Maybe I'm wrong I'm not expert on DMP's as I actually arranged my own some time ago. At the time I had to add all my debts up and give a monthly amount pro rota. Fortunately I managed to wipe the whole lot out with unenforceable credit agreements and I'm now well in the clear. But I still remember those tough times and have nothing but sympathy for the poor sods who find themselves in a mess today.

Stebiz

michael1983l

Hi Stebiz

I have sympathy too as I have been or am technically in a financially difficult position. However what you said just isn't correct I'm afraid, see my edited post above. The banks are well within their rights to offset debts from the bank account to pay other debts with them hence the reason why if proper advice is given a new bank account unassociated with any company you owe to must be set up. This is the first thing you should do before you take action.

asharon

How long a gap between the money being in the account and them taking it was there ? Perhaps you could argue that the money was sent to the wrong account, or at least say that it was a joint mortgage so half the money is yours and you want it back from them.

Dylanwing

michael1983l wrote: »

With all due respect my Mrs is a CAB advisor, I have a CAB booklet about debt managment and it clearly states the bank are well within their rights to cease money in their accounts to clear other debts if you enter any of these plans. Hence the reason they tell you to open another account before you take any action.

Do you really expect a bank to say ok to allowing a customer not to pay a portion of the debt when they can easily and legally take it direct out of their bank account?

Fair play, like a lot of others I'm not clear on what they can and cannot do. In my case the Bank got it wrong, thankfully. No harm checking, it may open a loophole, and if not, at least OP will know where they stand.

michael1983l

asharon wrote: »

How long a gap between the money being in the account and them taking it was there ? Perhaps you could argue that the money was sent to the wrong account, or at least say that it was a joint mortgage so half the money is yours and you want it back from them.

This may be a possibility but they may ask for proof and when they see his name on the credit agreement it may be thrown out.

michael1983l

Dylanwing wrote: »

Fair play, like a lot of others I'm not clear on what they can and cannot do. In my case the Bank got it wrong, thankfully. No harm checking, it may open a loophole, and if not, at least OP will know where they stand.

there is certainly no harm in trying but as long as it is clear that the OP has no legal right to get the money back.

cos_2

Have you checked out the delivery of the DMP letter to Santander, the one you said had a signed for date of the day prior to the 10k being appropriated?

If the bank told you they would not have taken this action if they had known of the DMP, I would think this is where to plead your case with them.

As for all the rest, it's not what you are asking about so just ignore posters who are confusing the issue.

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michael1983l

Cos I am only saying exactly what the CAB and National Debt Line would tell her of which I am about to prove by pasting the text out of their AdvisorNet which they use to provide info. I am just awaiting the E-mail. I trust their advise to yours, no offence.

Edit...

What I have said is 100% correct according to my Wife who is a citizens advice advisor. The required information isn't available to just copy and will need to be copied out of a book and my little girl needs feeding so I promise I will post the details later.