It's hard, because it's a welter of complications and the client is coming in for simplification. So, I rather find myself in the role of complicator.
Okay, we use HSBC. They're one of the big boy banks. Do any google search, it's no secret that they do RALs Their standard application states: "ANY DEBT I OWE TO HSBC . . . OTHER RAL LENDERS." It's vague, but that is the cross-collection provision. And this is also no secret. Do a google search. HSBC engages in cross-collection. But, I have not yet been able to find the list of banks they collect for. And that's what I really need to show clients.
In part, because it is off the client's radar screen. They are focused on whether or not they'll be approved and how long it will take. The possibility that their money might be taken for debt they owe someone else doesn't register.
Any help would be most appreciated.
-Tiger
PS "Cross-collection" is not real common, but when it bites, it sure does bite. You potentially lose your entire refund.