Creditcards Compare Credit Cards
Fight unfairly ruined credit records, urges consumer group
13.05.2008
Credit card users who believe they may have been unfairly charged and their credit records affected as a result should fight banks and demand to have their records amended, the Consumer Action Group has said.
Following the recent concern over unfair bank charges, Marc Gander, founder of the Consumer Action Group, has urged consumers to challenge their banks and ask for compensation, as well as for the "black marks" to be taken off their records.
"Routinely, anybody who has had a bank charge, meaning that they have exceeded their overdraft limit, has this black mark put on their credit record. In extreme situations, if it gets really bad, the bank defaults them," Mr Gander said.
The Office of Fair Trading recently won the right to investigate whether banks are making unfairly excessive overdraft charges. The banks have until May 22nd to appeal the decision.
Mr Gander warns that going overdrawn by just £5 can affect people for up to six years if they are defaulted.
Following the recent concern over unfair bank charges, Marc Gander, founder of the Consumer Action Group, has urged consumers to challenge their banks and ask for compensation, as well as for the "black marks" to be taken off their records.
"Routinely, anybody who has had a bank charge, meaning that they have exceeded their overdraft limit, has this black mark put on their credit record. In extreme situations, if it gets really bad, the bank defaults them," Mr Gander said.
The Office of Fair Trading recently won the right to investigate whether banks are making unfairly excessive overdraft charges. The banks have until May 22nd to appeal the decision.
Mr Gander warns that going overdrawn by just £5 can affect people for up to six years if they are defaulted.