Rally against unfair bank charges on Friday 1st

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Post by alidecember » Thu Nov 30, 2006 8:07 am

- Everyone invited to come along and show your support.

- IVA.co.uk, Penalty Charges, and the Consumer Action Group to hold protest in Salisbury Square on Dec 1 –

A protest will be held at 2pm on the 1st of December to demonstrate that the Government and OFT have repeatedly been asked to take action against banks and credit card providers who are unlawfully penalising their customers and have so far failed to do so.

Penalty Charges (www.penaltycharges.co.uk), IVA.co.uk (www.iva.co.uk), and The Consumer Action Group (www.consumeractiongroup.co.uk) will be holding a peaceful protest against unfair and unlawful bank charges outside the Office of Fair Trading Fleetbank House, 2-6 Salisbury Square, London, EC4Y 8JX

Banks have continually been levying penalty charges at levels that, for many, create a vicious spiral of debt and poverty. These charges have the biggest impact on the poorest members of society some of whom see their benefit payments swallowed up by bank charges.

Even worse, it is now apparent that these charges are set at levels that are clearly unlawful. In 2006, an Office of Fair Trading ruling made it absolutely clear that consumers are entitled to reclaim their penalties in full; however this has not been carried out by the banks causing many to suffer illegal bank fees and charges.

Stephen Hone, spokesperson for IVA.co.uk and Director of PenaltyCharges.co.uk commented:

“We are protesting because the OFT is not ensuring that consumers are able to reclaim these unfair bank charges back as required by law. This failure is leaving hundreds of thousands of people in unnecessary financial difficulty at Christmas and throughout the year.”

To gauge support for the rally, IVA.co.uk have also conducted a survey into public opinion surrounding penalty charges. An astonishing 99% of respondents reported that they consider bank charges to be unfair and too high, with 95% having paid bank charges within the last 12 months. Of those, the majority (59%) paid at least £100 in fees.

“We have huge support against the banks, as has been evidenced by the survey conducted by IVA.co.uk, and we are confident of a big turnout”, added Stephen.

About IVA.co.uk
IVA.co.uk (www.iva.co.uk) is Britain’s leading online portal for IVA information. It is a leading authority on debt and finance in the UK.

IVA.co.uk was formed in 2005 to help improve understanding of debt and debt solutions in Britain by providing expert advice and a live forum alongside a regular roundup of the latest news, statistics, and research from the world of debt solutions.

About Stephen Hone

Stephen Hone, Director of Penalty Charges (www.penaltycharges.co.uk), recently made history with his case against Abbey National over their bank charges, which was settled in his favour for 600% more than his claim, at £5000.

Stephen has become the spokesperson for this crusade, appearing on shows such as GMTV and Tonight with Trevor McDonald as well as appearing in the UK's national press regularly. He set up Penalty Charges to help people fight back and recover these unlawful charges from their banks.

About The Consumer Action Group

The Consumer Action Group (www.consumeractiongroup.co.uk) was started to bring this information to the masses and with a mission to bring down unlawful charging. So far 84,000 people have registered with the two websites and thousands of them have recovered millions of pounds in charges.
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