Setting Off Rules

[payback68]

I thought i would post this link for all the Caggers perusal:-

Setting Off Rules: DON'T bank where you’ve got debts...

 

Regards.

[Stressed150]

thanx payback x

[payback68]

No worries Stressed it maybe beneficial to some caggers;)

[sutherland]

Could a bank set off funds from a joint account against a debt or account for which only one of the joint account holders is liable? Does this happen? If so, does it not make someone who has no liability liable for a debt?

[Belaflat]

Here's a tricky question then.

If an account has been declared in default and an overdraft is being paid back and the bank then takes a payment out without telling the account holder for a different debt thereby increasing the amount of overdraft again....where would you stand with the statute barred rule if the last voluntary payment was after 6 years but the bank's offset was within the 6 year period.

[sutherland]

That is a tricky question and I have no idea of the answer. It was this BBC article that got me interested in the subject today: http://www.bbc.co.uk/news/business-11185164

[harrassed senior]

Here's a tricky question then.

If an account has been declared in default and an overdraft is being paid back and the bank then takes a payment out without telling the account holder for a different debt thereby increasing the amount of overdraft again....where would you stand with the statute barred rule if the last voluntary payment was after 6 years but the bank's offset was within the 6 year period.

 

Well, to be sure challenge it! and complain to anyone and everyone including requesting the banks' official complaints dept. and online here for OFT and TS http://www.consumerdirect.gov.uk/contact

 

Also, once you have been through the banks' complaints' dept and they have changed nothing, report this to the FOS:

[creditcardmug]

Problem is they set-off first and worry about questions/answers later, if at all, by that time the victim would have been suffering for months!!

[Helford]

Sutherland,

 

"Could a bank set off funds from a joint account against a debt or account for which only one of the joint account holders is liable? Does this happen?"

 

Yes they could and they do - LTSB in particular. Mrs H and myself have individual credit cards in arrears that LTSB have dipped into our joint account, not once but twice last week and have then individually written to both of us to say if they are challenged by either one of us as to why this money has been debited, they will have no option but to tell the other party - rather flies in the face of the DPA!

 

But then again LTSB like to make their rules up as they go along!

[harrassed senior]

Sutherland,

 

"Could a bank set off funds from a joint account against a debt or account for which only one of the joint account holders is liable? Does this happen?"

 

Yes they could and they do - LTSB in particular. Mrs H and myself have individual credit cards in arrears that LTSB have dipped into our joint account, not once but twice last week and have then individually written to both of us to say if they are challenged by either one of us as to why this money has been debited, they will have no option but to tell the other party - rather flies in the face of the DPA!

 

But then again LTSB like to make their rules up as they go along!

 

Surely that is Blackmail, glad you have that in writing, and move your money/accounts asap.

 

I would be complaining to everyone, especially ICO - Complaints - Privacy & electronic communication - ICO

 

Trading standards and OFT: http://www.consumerdirect.gov.uk/contact

 

Your MP and The Police!