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  • #16
    Re: I can't afford my current account anymore. Need help please

    Originally posted by ATW View Post
    I thought that they could only take a positive balance out of an account but that they cant take you overdrawn even within an agreed overdraft facility (happy to be corrected though). Isn't the reasoning along the lines that money you take form an overdraft is not yours. Its someone elses that you are borrowing so its not up for grabs by way of set off.
    I don't know the law on this but I don't see how a bank can offset a debt using money which belongs to the bank (an overdraft facility) and not the debtor. That just doesn't make any sense.

    If they can then the law is an ass

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    • #17
      Re: I can't afford my current account anymore. Need help please

      Great news on the miss-selling refund Mr B
      Let your smile change the world but don't let the world change your smile

      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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      • #18
        Re: I can't afford my current account anymore. Need help please

        Originally posted by PlanB View Post
        I don't know the law on this but I don't see how a bank can offset a debt using money which belongs to the bank (an overdraft facility) and not the debtor. That just doesn't make any sense.

        If they can then the law is an ass
        you're right plus it is very controversial but sadly it does occur. Barclays being the worst culprit from the evidence seen. Barclays Bank & Barclaycard are two separate entities but the fact they're both under Barclays Plc allows RoSO. An OD is technically funds set aside for your usage and if it's available it's been known to be used as RoSO.

        So whilst I fully agree it's an ass; it is the way it works.
        I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

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        • #19
          Re: I can't afford my current account anymore. Need help please

          Originally posted by Never-In-Doubt View Post
          sadly it does occur. Barclays being the worst culprit from the evidence seen. Barclays Bank & Barclaycard are two separate entities but the fact they're both under Barclays Plc allows RoSO. An OD is technically funds set aside for your usage and if it's available it's been known to be used as RoSO.
          Then Barclays should be reported to the FCA

          Taking that to its logical conclusion, if I've got room left on my credit card limit then I should be able to use those funds which have been set aside for my usage to pay any arrears on my account in order to satisfy a DN. Two can play that game.

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          • #20
            Re: I can't afford my current account anymore. Need help please

            Yep that's what you'd think right? But sadly not.

            Ive not seen an instance (yet) where a lender RoSO's a credit card lol but there is a 1st time for everything eh?
            I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

            If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

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            • #21
              Re: I can't afford my current account anymore. Need help please

              Could barclaycard stil use RoSO even after they've sold the debt to another company? Or would the company that bought the debt be entitled to RoSO?

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              • #22
                Re: I can't afford my current account anymore. Need help please

                Has it actually been sold or have they appointed dcas to collect/manage the account?
                Let your smile change the world but don't let the world change your smile

                I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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                • #23
                  Re: I can't afford my current account anymore. Need help please

                  Originally posted by Dibsfbd View Post
                  Wow, brilliant news on the refund :-)
                  Originally posted by Pixie View Post
                  Great news on the miss-selling refund Mr B
                  I'm over the bleedin moon about it. It's been dragging on for far too long, especially when you read others experiences of having their refunds within a couple of weeks. Funny thing is, i had a dream yesterday morning that they refunded me £805, and when i woke i was a bit gutted it was just a dream. I then googled the CEO of barclays and was about to fire an email to him to push things along. Something distracted me during the writing of the email, and i checked the online banking and it was then i noticed the payment.

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                  • #24
                    Re: I can't afford my current account anymore. Need help please

                    Originally posted by Pixie View Post
                    Has it actually been sold or have they appointed dcas to collect/manage the account?
                    It's definitely been sold. I have 2 letters confirming this. Sold to IDR finance

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                    • #25
                      Re: I can't afford my current account anymore. Need help please

                      Originally posted by PlanB View Post
                      I don't know the law on this but I don't see how a bank can offset a debt using money which belongs to the bank (an overdraft facility) and not the debtor. That just doesn't make any sense.

                      If they can then the law is an ass
                      Is it the banks money they use for an overdraft or another customers money who has an account in credit?

                      Comment

                      • #26
                        Re: I can't afford my current account anymore. Need help please

                        Originally posted by Mr-Boink™ View Post
                        It's definitely been sold. I have 2 letters confirming this. Sold to IDR finance
                        then no. Only the owner (bank) can offset. It's not like you'd have any assets with a dca to utilise RoSO lol
                        I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

                        If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

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