Reclaim PPI

Every year, penalty fees and late fees known as default charges account for as much as L400m in revenue for the lucrative credit card business. The negative impact this financial burden has had on the family of cardholders is absolutely unparallel. The high interest rates and fees that are imposed upon cardholders have become a subject of great concern for many alliances, consumers, and credit card holders.

Defining Charges
How is penalty fee determined to be proportionate to a particular credit card level? What are reasonable interest rates? In 2006, after a year and a half of intense examination, the Office of Fair Trading determined that credit card companies were indeed charging their customers far more for than what is considered ethical. Every day, the financial well-being of cardholders of every type to every credit level is jeopardised and they ultimately become the victims of a lending system whose main concern is creating a significant revenue for themselves. Therefore, a rate of L12 was established by the OFT, one which has been accepted by credit card companies.

Protecting Your Rights
As a citizen of the UK, you have the right to understand what fees you are expected to pay and under what circumstances. Under the Supply of Goods and Services Act of 1982, it is clear that banks must separate business gain from customer integrity by establishing fees that are reasonable and proportionate for the credit card their customers hold. In the event you encounter a credit card situation that seems unfair or unethical, take the time to call us and file a claim. The average compensation for customers who have been unfairly overcharged by credit card companies is about L590. Your claim will be investigated and you can expect a prompt recovery where appropriate.