Claim back credit card: Basic Facts About It
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Posted On :
Feb-24-2010
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Article Word Count :
527
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Credit cards often pose serious threats especially, when it comes to the paying off the balance. To make the situation even worse, the companies often take extra charge on the credit card due to late payment, returned payment and many other causes. Well, this charge adds up with time and soon becomes a huge amount.
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Credit cards often pose serious threats especially, when it comes to the paying off the balance. To make the situation even worse, the companies often take extra charge on the credit card due to late payment, returned payment and many other causes. Well, this charge adds up with time and soon becomes a huge amount. However, you will be happy to know that the OFT or the Office of Fair Trading has determined that charges more than £12 are unfair. As a result, you can claim back credit card charges for the last six years. What’s more, the process of reclaiming is an easy one and it can result in a significant refund in your account.
Well, the first thing that you need to do is to check out your online account and see the number of statements available to you. You should immediately contact your credit card company to request them to show the complete list of the past charges to the account in case; your account does not have all the statements. Well, the company is bound to produce the complete list within 40 days. However, they can charge you for that. However, once you get the list, you should add up the different charges for the late payments, over the limit fees, and returned payments.
Now, you should write to the credit company informing them that the past charges that were added to your account are not proportionate. Here, you should detail each of the charges with the sates, reasons for charge as well as the amount of charge. Well, if you are a resident of the United Kingdom and the charge is made before June 2006, you can ask for the full refund or for the difference between £12 and the charge. Otherwise, you can ask for a complete refund as well.
Well, you should keep a copy of the letter to claim back credit card. This is for your record. However, before posting it, you should check out that the letter is addressed to the appropriate department of the credit company. Also, you should think about sending the letter along with the delivery conformation so that you know that it has arrived. Finally, you should call the credit company after some time when you think the letter has arrived.
However, it is most likely that the credit company will reply to your letter and their attempt will be to thwart your request to reclaim the charges. So, if they are going through the same line and claim that the charges are legal, you should threaten to take them to court. Eventually, if you are to go to court, you should consider whether you should go to the small claims court and the financial ombudsman.
In any case, this is going to be a tough shot. The company will try its best to thwart you from the claim. This is why you should take the help of a good law company. They have a large resource of the experts who will understand the situation and bring out the best for you.
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Article Source :
http://www.articleseen.com/Article_Claim back credit card: Basic Facts About It_11727.aspx
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Author Resource :
The author of this article knows all about Consumer Credit Act Claim Solicitors and has written many articles on Miss Sold. And the author has an excellent knowledge in PPI and has been in finance sector for years.
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Keywords :
PPI, Miss Sold, Consumer Credit Act Claim Solicitors, Bad Debt, Wipe your Debt, Unenforceable Loans,
Category :
Finance
:
Finance
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