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Setting-Off when the bank has sold the debt

I have on old credit card debt to RBS from about 7 years ago that was defaulted and sold to a debt collector. I am and have been paying this debt collector ever since about 2010 and have another year or so before its cleared. The default has dropped off now. However I have an account with Natwest (who are of course part of RBS Group) and I have just heard about 'setting-off'.
Would I be right to assume that because RBS sold my debt some years ago and I technically therefore I dont owe them the money any longer (forgetting the moral issue) that they will not (or perhaps cannot) use the setting-off rules to take money from my Natwest account?



  • mjm3346
    mjm3346 Posts: 46,961 Forumite
    First Anniversary Name Dropper Photogenic First Post
    If they haven't bothered so far it doesn't seem likely (I suppose they could buy back the debt then off-set, again has to be very unlikely)
  • jonesMUFCforever
    It will depend on whether the debt collection agency is in house at RBS or an outside company.
    If it is an outside company you should be safe.
  • planteria
    planteria Posts: 5,321 Forumite
    First Anniversary Combo Breaker First Post
    if minded to, you could move your banking/saving to another bank and not have any risk of them claiming your cash.
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    Why take the risk?
  • agrinnall
    agrinnall Posts: 23,344 Forumite
    First Post Combo Breaker
    I'm not sure that setting off happens between RBS and Nat West anyway, the systems are completely separate so the only way it could happen is if someone does it manually. Happy to be corrected if anyone knows different though.
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