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PPI Claims - About PPI

Claiming Back Bank Charges

Have you ever paid over the limit or late payment fees on your credit card? Did you know that, following a formal investigation, you may be able to claim these fees back?

Following numerous customer complaints, in 2006 The Office of Fair Trading (OFT) investigated the charges applied by credit card companies, banks and other lenders. Their investigation revealed many banks were charging fees that were legally unfair. They urged lenders to immediately lower fees and this allowed many people to start claiming back bank charges. Keep reading to find out how!

The OFT report was very critical of lenders and claimed many charges had 'generally been set at a significantly higher level than is legally fair.' The report summarized how many customers had felt for many years and was welcomed by many consumer action groups.

For many the OFT investigation was long overdue as for many years lenders had made huge profits from charging customers for late payment and over the limit fees. Some charged as much as £35 on every single occasion a limit was exceeded or a payment was made late, even if the limit was exceeded by just a pound or the payment made just one day late. The fees brought in more than £300 million a year for lenders and provided a healthy additional revenue stream. The charges were criticised by many, though, as they affected the most financially vulnerably and often caused them to spiral into debt. Now, thanks to the OFT investigation, many of these people have begun claiming back bank charges unfairly applied to their accounts.

Lenders attempted to defend the charges saying they were necessary to cover costs. The OFT rejected this idea, though, and maintained the fees were unnecessarily high and unfair to the customer. The OFT did concede that a charge was appropriate, but suggested that it should be capped at £12. This amount allows for the cost of administering accounts, postage and a slight provision for IT costs.

Since the investigation most lenders have lowered charges to £12 and now, those who have paid higher fees in the past, can start claiming back bank charges. For many of the worst affected people this can amount to hundreds, if not thousands, of pounds.

If you believe you have been charged over the limit or late payment fees that you were legally unfair you can start claiming back bank charges today. To get started simply complete the quick claim form above. Remember there is no limit to the number of claims you can make and you really could be owed hundreds or even thousands of pounds. We have already helped more than 60,000 customers make claims and, in total, we have claimed back in excess of £50 million pounds. We aim to make claiming back bank charges as simple as possible and will guide you through every step of the process. Remember there is no limit to how many claims you can make and you can even make a claim if your credit card has been paid off or you no longer use the account. Just click to claim!

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* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

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