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New condition 15.8 LTSB
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It is a standard letter being sent to all customers whose cards are in arrears or who have defaulted. What the bank are saying is that if those customers have put in any claims that are successful for ppi refunds, refund of interest etc, or if the bank owe the customer money for any reasons, the contribution from the bank will be used to offset the debt owed to the bank by the customer.
The customer will not be getting their hands on monies owed to them by the bank whilst the customer still owes money to the bank by way of default or arrears - any payment from the bank will be used to reduce the customer's debt.
Rather long winded but hope simple enough to understand!!!0
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