Does Set-off apply if there is an arrangement in place ?

always_3

I have a arrangement in place with A&L to repay an old debt with them (Current Account) from 2000 and this arrangement has continued without problem, gets reviewed and accepted again.

Now that A&L has been taken over by Santander could they use the Right to set-off on my existing current account with A&L, or because an arrangement to repay is in place can they not ?.

Thanks.

WRINKLES

They can use the right to set off anytime they want , get yourself another bank account have your money paid into this , get direct debits transfered , then set up a standing order to pay them what you have aranged with them .

always_3

WRINKLES wrote: »

They can use the right to set off anytime they want , get yourself another bank account have your money paid into this , get direct debits transfered , then set up a standing order to pay them what you have aranged with them .

If the amount owed was say £2100, and if say every Tueday you had £350 going in could they take it every week or just the once ?.

Thanks.

WRINKLES

always wrote: »

If the amount owed was say £2100, and if say every Tueday you had £350 going in could they take it every week or just the once ?.

Thanks.

They could take every penny you have , they often do .

WRINKLES

The co op is a good bank to do this with they will give you a basic bank account , they will transfer your dd , s make sure you set up a standing order for the debt , you are in control of how much you pay them and when , with a direct debit they control how much .

determined_new_ms

yes now Abbey & A&L have become santander they can take your money from either accounts. If you use Abbey change straight away

always_3

It was A&L that the debt is with and A&L that my account is with, I just thought that since it had been in place for so long and since A&L never bothered to setoff then now that it is santander they would be the same. But what spooked me today was the old current account is now listed on my A&L internet banking now that they have migrated the accounts and it never did before !. It shows my arrangement and the current balance of £2197.00

WRINKLES

You would be wise to do as we say .

always_3

WRINKLES wrote: »

You would be wise to do as we say .

I will, and thanks.