If you choose to reclaim late fees then the first thing you need to do is to check whether you have had any such charges within the last six years. If you don’t know you are entitled to ask your credit card provider for a list of charges. They have 40 days to release this information to you.
Once you have received the list of charges, you will need to assess which ones are late fees and which ones are over limit fees. These fees tend to range from £30 to £12.
Now it is time to figure out how to get back these fees. Some customers take on their own complaint and write to the credit card issuer requesting their money back. Some credit card issuers may reply and offer a partial refund of charges. Some providers may decide to refund the customer all charges incurred. It is essential here to reclaim interest on top of these fees.
Some financial institutions can be slow to give people back their money. For this reason, many people are turning to claims management companies who can get back these charges on their behalf. Furthermore, they will assess the calculations and make sure that interest has been refunded on top of the charges. This increases the amount of redress a consumer can get back. Requesting interest on top of the charges can significantly increase the total amount reclaimed. Due to this it can make it worthwhile to contact a claims management company to reclaim the charges on your behalf.
