Speak to an adviser:
0800 040 7064

Professional advice

Write off up to 75% with help from Government Legislation

Write off up to 75%
with help from
Government Legislation

Do you qualify?

About Your Debt

About You

British banks are appealing the decision of the High Court which stated that unauthorised overdraft charges could be assessed for fairness, according to reports.

The landmark test case has been described as having a potentially huge impact on consumers, with financial research firm defaqto asserting that the stakes for both sides are extremely high.

However, with the banks appealing the decision, there is likely to be a lengthy judicial process seen before a final result is attained.

Following a Court of Appeal hearing, the case could go on to the House of Lords or even the European Court of Justice, the group notes.

"If the original judgement is ultimately upheld and a substantive hearing rules that the charges are unfairly high the most likely outcome is that a cap will be placed on the charges," said David Black, principal consultant of banking for Defaqto.

For those looking to clear debts, a reduction in overdraft charges may come as a welcome relief.

The High Court decision to assess the charges for fairness was made late last month.

Do you qualify?

We are fully authorised and regulated by the Financial Conduct Authority. Speak to one of our fully trained, financial solutions specialists.

Check if I qualify