Perhaps you have had a catalogue, bank card or overdraft where you got a credit limit that is high?
Therefore high that the month-to-month repayments had been difficult to handle without borrowing more?
Lots of people had been initially offered limits that are sensible nevertheless the loan provider kept increasing them.
You might have a complaint that is good the financial institution ended up being reckless in letting you borrow a great deal that your debt ended up being unaffordable.
It is possible to whine into the lender and have for a reimbursement of this interest you paid. There is certainly a letter that is template.
In 2020, Barclaycard have written for some clients saying their borrowing limit ended up being payday loans West Virginia set excessive. I really hope more lenders recognise this. You could whine now, you donвЂ™t need certainly to watch for a page.
What is вЂњresponsible lendingвЂќ?
Listed here is my summary of this regulatorвЂ™s guidelines about affordability and lending that is responsible