Bank Penalty Charges
Bank regulators are investigating illegal bank penalty charges
Money Advice Direct feels that bank penalty charges are illegal. The OFT and the bank regulators are aware of the rising problem and are now taking action to stop illegal bank penalty charges. The ideal solution will be for all penalty charges to truly reflect the cost of administering them. If you would like to claim back bank charges then please click here to APPLY NOW!
Bank penalty charges have cost the UK public billions of pounds. The banks are making billions of pounds each year from penalty charges. The advice team at Money Advice Direct has always doubted the legality of these charges - which cost the public an average of £30 a time. The public are now fighting back to reclaim these unfair penalty charges.
It is estimated that the main high Street banks in the UK made an estimated £4.5bn from the following types of penalty charges:-
- Unauthorized overdrafts
- Bounced cheques
- Clearing Direct Debits when there are insufficient funds in the account.
OFT taking action on bank penalty charges
The Office of Fair Trading has already forced banks to reduce their penalty charges for credit cards to a maximum £12, and it has now opened an investigation to establish what the real costs of current account penalty charges are.
The aim of government and court intervention is to make the public aware of the charges made by the bank and credit sector. This section of the website will help you claim back bank penalty charges and how to avoid these bank charges happening again.
If you would like to Claim Back Bank Penalty charges please click here APPLY NOW!
Apply online - act now and get your money back!!
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IVA's
The IVA Guide
Money Advice Direct has put together an IVA Guide based on the enquiries and questions that we receive at our helpline offices.
In the guide we cover such subjects as IVA Approval, early settlment of your IVA, missed IVA payments, IVA failure, additional debt claims and much more.
[click here for IVA Guide]
What is an IVA?
The IVA is an extremely powerful tool enabling you to clear your debt and return to a clean financial bill of health. Visit Money Advice Direct's Guide to Individual Voluntary Arrangements (IVAs).
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DANGER
Due to the tremendous demand for debt consolidation services the United Kingdom is now overloaded with debt management companies that contain misleading information. [more...]