What does "Co-existence Collections in Default" mean ?

headache5678

I am having a 2 year battle with Santander.

To keep it short may I ask (er any ex-Santander employee?) :

• What does the description, "Co-existence collections in default" mean as this appears against credit entries posted to my credit card account.

In short my debit balance is in default but it has been reduced by these credit postings and I do not know what they are.

nottoolate

have they set off some of the cc balance by taking money from a bank/savings account?

check your other accounts

headache5678

Thank you, a good idea - I will check.

May I ask, have you actually come across the specific term " Co-existence collections default" before, please ?

nottoolate

no. i'm just trying to make an educated guess what it might mean?

the fact that you have unknown credit payments on your CC mean they must be coming from somewhere

if you are not making them yourself then maybe the bank is doing it under their right to "set off" from other accounts in your name that are with them?

the term "Co-existence collections in default" also seems a likely candidtate for company doublespeak descibing that?

headache5678

Thank you. Most kind.

I am a retired banker myself helping a friend in trouble.

nottoolate

if it does turn out to be that then there is some info here on when it is fair to do that, and when it is not

http://www.financial-ombudsman.org.uk/publications/ombudsman-news/40/40_setoff.htm

if its not that then i'm curious to know what it actually is?

headache5678

Me too - the current account was in default but I have just examined the bank statements and there are no debits on the c/a to show the source of the "repayments" to the cc.