Legal Beagles Consumer Forum

Quote:

(in BCOBS) an obligation on the part of a consumer to make a
payment:

(a) where the remedies for a breach of that obligation potentially
include seeking possession of, or seeking to exercise a power
of sale in respect of:

(i) the sole or main residence of the consumer (for
example, an obligation to pay secured by a mortgage or
charge in respect of land, an obligation to pay rent
under a tenancy, or an obligation to make payment
under a licence to occupy land); or

(ii) the consumer’s essential goods or services (for
example, an obligation to pay under a hire purchase,
conditional sale or hire agreement that relates to, or an
obligation to pay secured by a charge on, the
consumer’s cooker, refrigerator, or the means to travel
to work); or

(b) where that obligation arises out of an order of the court, an Act
or secondary legislation (for example, an obligation to pay
council tax, child support maintenance, income tax or court
fines); or

(c) where that obligation arises under a contract for the provision
of utility supplies (for example, water, gas or electricity).

Quote:

right of set-off (in BCOBS) any right of a firm, whether under a contract for a retail
banking service or the general law, to set-off or combine any debt due
from a consumer or debit balance on an account held by a consumer
against or with any sum payable by the firm to the consumer or credit
balance on an account held by the consumer.