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Natwest/Rbs debt

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Hi, I have just found out I have PPI from some old Natwest loans I had. They were closed back in 2003. However I have an outstanding debt with RBS can they use any refund I may get to pay off this debt? Even though at the time they were separate companies??

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  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper Photogenic
    ItsSme wrote: »
    I have an outstanding debt with RBS can they use any refund I may get to pay off this debt? Even though at the time they were separate companies??
    Outstanding debt will be offset against any PPI refund (should it be awarded)
  • but the companies were not connected at the time of the loans taken, surely that can't be right? Also the debt is no longer on my credit file and was sold on to third party companies?
  • Nasqueron
    Nasqueron Posts: 10,657 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    If a firm buys another firm then yes absolutely if they take on the debt they can offset.


    Credit file - doesn't matter, statute barred old debts don't just vanish, you still owe the money you just can't be chased for it


    If sold on with no right to claw back you will probably get lucky and get the money (which you can use to settle your unpaid debts). If they have the right to get the old debt back then they can't.


    Look on it as a bonus if you do win anything as you are essentially asking them to refund you money you never paid.

    Sam Vimes' Boots Theory of Socioeconomic Unfairness: 

    People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.

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