If you wish to reclaim late fees then the first thing you need to do is to check whether you have had any such charges within the last six years. If you are unsure you can request a list of charges or statements from your credit card provider. They have 40 days to release this information to you.
Once you have received the list of charges, you will need to assess which ones are late fees and which ones are over limit fees. These fees tend to range from £30 to £12.
The next step is to consideer how you want to reclaim these charges. Some people tackle the process themselves and request their charges back from the credit card company. Some credit card providers may write back and offer a partial refund of charges. Some providers may decide to refund the customer all charges incurred. What is important is that you also reclaim any interest charged on top of these charges.
Some financial institutions can be awkward when it comes to giving people a refund. This is why many consumers are engaging the services of claims companies who can recover these charges on their behalf. Furthermore, they will assess the calculations and make sure that interest has been refunded on top of the charges. This gives the consumer the maximum amount of compensation. Seeking interest on top of the fees can significantly increase the total amount reclaimed. For this reason, it can be worth contacting a specialist claims company to do the job on your behalf.
