Our friend Andrew has sent this. Take advantage of it as your conscience dictates (those poor loves do need the money to survive and make their meagre profits):
'It is illegal for any lender to charge more than the actual admin cost of penalties levied: estimated at £4.50 maximum for a bounced cheque, £2.50 maximum for a DD etc. Lenders no longer use the word 'penalty' in the hope of getting round the law. They now call it a 'service fee'. The Office of Fair Trading has now refused to countenance out-of-court settlements where lenders offer partial repayments as 'goodwill'. You are entitled to full repayment of the previous six years of penalties with interest. No lender has ever contested a repayment of penalties case in court.'
Are penalty charges bank robbery?
How to claim back penalties
The Money Programme's own Bank Commission
Questions for the lenders
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