Large loan debt

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Large loan debt

Postby lukedog » Mon Oct 31, 2011 8:10 pm

I am a new member on here but have been following some of the interesting post on here.

I have a £20k debt with RBS although the last 12 months it has been in the hands of AIC, with the help of CAB I have negotiated to pay them back at £1 per month.
I have had major heart surgery and have been unable to work for the last 12 months so have no income other than ESA. This is not really the problem I need advice about.

My problem is I am due to receive £20K in compensation for a Chemical inhalation injury at my previous employment, I am worried if I deposit the Cheque in a bank it could be found by RBS or AIC and I will be forced to pay back my loan. I do not have a spouse or family member who could deposit the cheque in their name.
I know that I will need this money to support me in the future with my health problems.
Please can someone give me advice on this matter.
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Re: Large loan debt

Postby rebelwithoutaclue » Mon Oct 31, 2011 10:30 pm

Pay it into a credit union? Or a pre pay credit card?
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Re: Large loan debt

Postby lukedog » Tue Nov 01, 2011 12:12 am

Rebel thankyou for your reply, But would a Credit Union be a safe place, without fear of this amount being traced and then seized by the DCA or RBS.
Sorry for asking but I am really worried and not wise on these matters.
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Re: Large loan debt

Postby holy vehm » Tue Nov 01, 2011 8:15 am

lukedog wrote:I am a new member on here but have been following some of the interesting post on here.

I have a £20k debt with RBS although the last 12 months it has been in the hands of AIC, with the help of CAB I have negotiated to pay them back at £1 per month.
I have had major heart surgery and have been unable to work for the last 12 months so have no income other than ESA. This is not really the problem I need advice about.

My problem is I am due to receive £20K in compensation for a Chemical inhalation injury at my previous employment, I am worried if I deposit the Cheque in a bank it could be found by RBS or AIC and I will be forced to pay back my loan. I do not have a spouse or family member who could deposit the cheque in their name.
I know that I will need this money to support me in the future with my health problems.
Please can someone give me advice on this matter.


A bank can only go into an account it owns or a subsidury of that bank so you need to search which banks rbs owns or which banks own rbs and open an account that isnt apart of that group. Open a savings account only.
A dca cant go into a bank account and i wouldnt speak with them at any point. What you may find is at some point in the future the dca will make you a settlement offer, sometimes 50% of the value of the debt, sometimes even more discount is offered.

So if you get 20 grand compo, put it into a whole new account and tell know one a thing and you should be ok.
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Re: Large loan debt

Postby lukedog » Tue Nov 01, 2011 3:05 pm

Thankyou Holy Vehm, I do appreciate your advice as I am not very wise on these matters.
I wish that I had found this Website years ago, it is a real education reading this forum.
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