Catalogue Interest Claims

paul_martin · 23 March 2018 at 3:53PM

Hi new to the forum but looking for assistance if possible I have been lead to believe I can potentially claim interest back from littlewoods and very for excessive interest and not doing correct affordability checks before increasing my credit limits I have been told its similar to the Wonga claims that people are currently pursuing could anyone shed some light on this for me and if so point me in the right direction thanks

[Deleted User] · 23 March 2018 at 3:55PM

No. The interest was stated on your agreement and it was up to you how much of your credit limit you chose to spend.

sourcrates · 23 March 2018 at 4:01PM

You can try by all means, but you must be able to back up your claims with evidence, and be able to explain why you at first agreed to the charges, and your basis for now wanting a refund.

It is not like re-claiming from a payday lender, these things invariable go in-front of the ombudsman, so you would need a pretty good case to back up your claims.

However, it is always worthwhile complaining if your unhappy.

Littlewoods can be difficult to deal with at times.

paul_martin · 23 March 2018 at 4:26PM

A site called Debt Camel explains you can its to do with responsible lending. I cant post the link as it wont let me as a new user but this is the article title

Can you get interest refunds from catalogues & credit cards?

[Deleted User] · 23 March 2018 at 4:28PM

No.

But if you're in current hardship, contact them as to whether they can freeze the interest etc and how this might be reported on your credit files.

National_Debtline · 23 March 2018 at 4:42PM

Hi Paul and welcome to the forum

You can always choose to make a complaint about something you are unhappy about. The subject of unfair terms can be complicated so it's a good idea to seek some advice from the Citizens Advice Consumer Service on 0345 404 05 06.

Creditworthiness and affordability checks should have been carried out when you took out the credit. The Financial Conduct Authority's (FCA) Consumer Credit Sourcebook (CONC) has guidelines about this but does not specify exactly what a company is expected to do https://www.handbook.fca.org.uk/handbook/CONC/5/2.html

Initially your complaint needs to be made to the creditor. If you're not happy with their response, raise it with the Financial Ombudsman Service (FOS) www.fos.org.uk. The complaints process won't cost you anything, but it's hard to say what your chances of success are. Good luck.

Susie
@natdebtline

fatbelly · 23 March 2018 at 5:02PM

paul_martin wrote: »

Hi new to the forum but looking for assistance if possible I have been lead to believe I can potentially claim interest back from littlewoods and very for excessive interest and not doing correct affordability checks before increasing my credit limits I have been told its similar to the Wonga claims that people are currently pursuing could anyone shed some light on this for me and if so point me in the right direction thanks

Yes

If they increased your credit limit when there was already evidence you were struggling at the existing limit, then you can complain

Similarly, if there was evidence that you were in financial difficulty at the outset, and they still offered credit, then you can complain

https://debtcamel.co.uk/refunds-catalogue-credit-card/

sets out the process.

It's unlikely, however, that catalogue interest rates themselves would be found to be excessive.

Catalogue Interest Claims

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