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Barclays Bank account and Debt with Barclays ?
MissKitten
Posts: 8 Forumite
I am asking this question on behalf of my brother, so apologies in advance if this is not the correct part of the forum.
My brother got himself into quite a lot of debt around 8 years ago, plenty of credit card and bank account overdraft debt, no loans or other debts. He is still currently paying off these debts via the debt collection agencies that were assigned to each debt.
Two of these debts are Egg cards and are being repaid to CapQuest debt collection agency. Due to the age of these debts none now show on his credit report, and on that basis he has got himself a full current account with Barclays. I have told him that this was a bad idea as Egg was sold to Barclaycard and therefore Barclaycard could take any money in his Barclays account to pay of the debt at any time (Offset), but needless to say he does not believe me !.
So I am looking for a bit of advice, have I got my facts correct and they could take his money in his Barclays account under the offset rule, or does it not apply because:
1) The debt was originally a Egg card and not a Barclaycard ?
2) He never gets any form of communication from Barclaycard only Capquest so does the debt now belong to them, and if so can Barclays no longer offset ?.
3) As a payment plan is in place do they therefore not use the offset rule ?.
I would be grateful for any help on this.
My brother got himself into quite a lot of debt around 8 years ago, plenty of credit card and bank account overdraft debt, no loans or other debts. He is still currently paying off these debts via the debt collection agencies that were assigned to each debt.
Two of these debts are Egg cards and are being repaid to CapQuest debt collection agency. Due to the age of these debts none now show on his credit report, and on that basis he has got himself a full current account with Barclays. I have told him that this was a bad idea as Egg was sold to Barclaycard and therefore Barclaycard could take any money in his Barclays account to pay of the debt at any time (Offset), but needless to say he does not believe me !.
So I am looking for a bit of advice, have I got my facts correct and they could take his money in his Barclays account under the offset rule, or does it not apply because:
1) The debt was originally a Egg card and not a Barclaycard ?
2) He never gets any form of communication from Barclaycard only Capquest so does the debt now belong to them, and if so can Barclays no longer offset ?.
3) As a payment plan is in place do they therefore not use the offset rule ?.
I would be grateful for any help on this.
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