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People need to question banks to fix 'broken lives and reputations'
07/05/2008 11:21:00
People whose credit record has been tarnished by a bank charge should question their bank, a consumer association has urged.
The Consumer Action Group said that anyone who has had been charged by their bank due to exceeding their overdraft limit will have a black mark on their credit report.
Marc Gander, founder of the Consumer Action Group, said that if a default is recorded, even for as little as five pounds, then this "blights your life for at least six years".
"If all of these charges really are unfair and unjust and should never have been levied, what are the banks going to do about clearing up the credit register, and repairing all these broken lives and broken reputations?" he said.
Meanwhile, the Office of Fair Trading (OFT) recently won the right to investigate whether overdraft charges by banks are excessive.
This followed a court case in which banks argued that the OFT does not have jurisdiction over this.
The banks have until May 22nd to appeal.
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