• Welcome to the LegalBeagles Consumer and Legal Forum. Please register to get the most out of the forum. Registration is free and only needs a username and email address.

"Shadow Ledger"

  • Filter
  • Time
  • Show
Clear All
new posts

  • "Shadow Ledger"

    When a debt has been called in is it common practice for UK banks to use what can only be decribed as "shadow ledgers"
    I know for a fact that when secured borrowings are demanded YB cease to provide statements and set up an additional account database that is maintained by secured recoveries. There are major differences in how the two systems are operated.

    The Australian Watchdogs are already investigating the use of Shadow Ledgers

  • #2
    Re: "Shadow Ledger"


    I know of at least 3 account databases YB have in play when a debt has been called in.

    1. Mainframe system
    2. Branch system
    3. Secured recoveries system



    No announcement yet.

    upgrade to vip

    Want exclusive access to forums, more privacy and a live chat box? Upgrade to become a bigger part of our community.

    only £15/yr

    Offers available. No subscription traps.

    sign up now

    Resolver is a free automated complaints system that can help with all kinds of consumer complaints - including missold PPI and Package Bank Accounts.

    make a complaint

    Search and Compare fixed fee legal services and find a solicitor near you.

    Find a Law Firm