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Right of Offset & Business Accounts
sgx.saint
Posts: 1,615 Forumite
Hi All,
If an individual has defaulted on personal credit (Credit Card / Loan) with a banking institution, and they also hold a Business Account with the institution, in the name of a LTD Company, can the right of offset be used in these circumstances and monies taken from the business account to clear the personal arrears?
Appreciate the help.
If an individual has defaulted on personal credit (Credit Card / Loan) with a banking institution, and they also hold a Business Account with the institution, in the name of a LTD Company, can the right of offset be used in these circumstances and monies taken from the business account to clear the personal arrears?
Appreciate the help.
0
Comments
-
No.
The limited company is a seperate legal entity.0 -
Thanks for the response, appreciate the information. I thought that was the case, but wanted to check.0
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