Natwest/Rbs debt

edited 30 November -1 at 1:00AM in Reclaim Bank & Credit Card Charges
3 replies 978 views
ItsSmeItsSme Forumite
2 Posts
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??

Replies

  • [Deleted User][Deleted User] Forumite
    0 Posts
    Eighth Anniversary 10,000 Posts Name Dropper Photogenic
    MoneySaving Newbie
    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?
  • NasqueronNasqueron Forumite
    7.7K Posts
    ✭✭✭✭
    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.
    the concept of a United States of Europe is right.” Winston Churchill 1930
    I think that the Government are right to apply to join the European Economic Community...” -Winston Churchill 1961
    “The future of Europe if Britain were to be excluded is black indeed.”[FONT=&quot][FONT=&quot][FONT=&quot] - Winston Churchill 1963
    [/FONT][/FONT][/FONT]
This discussion has been closed.
Latest MSE News and Guides

Ultrafast broadband upgrades

Being made available to more English counties

MSE News

30+ ways to stop scams

Incl tips to spot 'em & what to do if you're scammed

MSE Guides

£37 of No7 beauty products for £12

Available online and in stores

MSE Deals