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RBS Set off following completed IVA
VWMan_2
Posts: 19 Forumite
Can RBS use a completed Lombard Loan, PPI refund to"set off" against a Nat West account that was part of a completed IVA. The Lombard loan was years before the IVA.
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Comments
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No..............Non me fac calcitrare tuum culi0
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I sincerely hope you are right!!!0
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The can only set off against the same debt. So, only if that particular debt was in arrears, defaulted or had amounts written off as part of an agreed settlement could they set off the redress. They cannot set off against a different debt within the same group. As taff says... no.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Offers in from RBS , there letters state}
payment to be made , subject to clearance of any arrears you may have with the "Group"
have querird this with their legal team. You guys say they can't use "set off ?0 -
have querird this with their legal team. You guys say they can't use "set off ?
Only if the PPI is linked to the debt in question or was part of a chain of debt (loan repaid by new loan repaid by new loan etc).
If it is part of the same group but a different debt totally then they cant use set off.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
all Lombard loans were totally cleared without any arrears long before IVA0
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Rang FCA to try and get some diffinitive answers . Couldnt help, thought they made the rules .
Guess i just wait and hope for best.0
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