Debt advice needs could rise with increase in finance complaints
Debt advice needs could rise with increase in finance complaints
- Tuesday, 8 September 2009The number of UK citizens seeking professional
debt advice could increase as new figures show a rise in financial sector discontent among consumers.
According to figures released by the Financial Services Authority (FSA), more than nine million complaints were made to companies within the industry between 2006 and 2008, according to the BBC.
One of the major factors behind the huge figures is believed to be customer unhappiness concerning overdraft charges.
The FSA said: "The spike in the total number of complaints in the first half of 2007 is the result of a large increase in complaints about overcharging and poor customer service in relation to banking and loans products at that time."
RBS-Natwest, the state-backed bank yesterday (September 7th) revealed that it is to reduce its overdraft charges.
The move includes the reduction of bounced-cheque charges from £38 to £5 and will come into effect on October 1st.

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