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Santander buy Nat West & RBS branches - possible right to off set threat


alfwithhair
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Have noticed this in the news tonight

http://www.bbc.co.uk/news/business-11409812

 

So if you bank with one of the Santander purchased banks such as Abbey, A&L as I do and have outstanding debt to Nat West or RBS, which would include MINT credit cards and many others, be on your guard.

 

I am not 100% certain if it is possible through a take over, but if you owe money to anyone within a banking group, they have the right to offset, in other words take money from an account within the group to pay outstanding arrears and debts within that group.

 

Question time now;

So, I am a A&L customer (now Santander) but owe money to MINT (RBS) soon to be Santander. Will the off set rule apply?

 

Need to know this so I can closed A&L down and transfer everything over to my Co-op account, thats if they don't buy that as well, seems they are taking over everything

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sadly yes they can

right to offset applies to any partner banks or subs thereof

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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yes

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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