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Ep - 52 Get Your Money Back
Manage episode 372465913 series 3426902
Treść dostarczona przez Lindsay Cook & Glen Thompsett, Lindsay Cook, and Glen Thompsett. Cała zawartość podcastów, w tym odcinki, grafika i opisy podcastów, jest przesyłana i udostępniana bezpośrednio przez Lindsay Cook & Glen Thompsett, Lindsay Cook, and Glen Thompsett lub jego partnera na platformie podcastów. Jeśli uważasz, że ktoś wykorzystuje Twoje dzieło chronione prawem autorskim bez Twojej zgody, możesz postępować zgodnie z procedurą opisaną tutaj https://pl.player.fm/legal.
Credit cards offer brilliant insurance for millions of us if we are ripped off when making purchases over £100. The protection is offered by the Consumer Credit Act and it has forced banks and credit cards to pay customers billions of pounds when their flights were cancelled, retailers went into administration without providing what we have paid for, and for many other financial disappointments.
But the protection provided under Section 75 of the Act is under threat. The Treasury is proposing that we should be protected by the Financial Conduct Authority.
Under the current legislation anyone who gets less than they pay for, or nothing at all, have up to six years to claim under the Consumer Credit Act. First call is to the retailer or service provider, but under this legislation credit card issuers and the retailer or service provider are jointly responsble to make sure we get what we pay for.
But before anything goes wrong make sure you pay for £100+ purchases using a credit card to protect yourself. You can just pay a deposit on the card for an item to get protection.
Even if the legislation is diluted next year you will still have six years' protection if your purchase is not fit for purpose. You also have the Financial Ombudsman on your side if the banks resist your claim.
There is additional help for the users of debit cards, but this is voluntary and is only available for 120 days.
"From Passion to Purpose" is a podcast that explores the world of nonprofit...
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Please send ideas questions, tips and warnings about rip-offs to Mrs Mean through the contact page on her website: mrsmeanmoneyshow.co.uk or to infomrsmean@gmail.com
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