Letter Published in Bristol Evening Post 22.01.07

[bristolsparky]

Dear Sirs

Banks control their own frame work that give credit scores which then dictate the lending their staff can offer. Most lending decisions are made on this internal credit score systems (not external credit referencing agencies as they would have you believe). This then allows them to deny economic, cost effective credit to the lower paid or self employed, while blaming the credit score system that they control.

Using their power to deny they can then force customers into much more profitable area of the unauthorised overdraft, with computer letters being printed off in their thousands generating millions in extra profits. This is no accident! Banks have huge amounts analytical data that identifies each and every area of profit.

After meeting my bank I discovered they had charged me an additional £1100 in default notices in just 12 months. This is no accident or coincidence. The banks are highly developed providers of finance and know exactly where their profits come from. They have specifically targeted this area as it provides massive easy revenue from those who are least likely to complain or able to afford these inflated costs.

The banking ombudsman and office of fair trading have carried out some work in this area, but have so far not forced them to act in a fair and reasonable manner. The banks have proved that they are unwilling to address this voluntarily so must be punished in the form of economic penalties. Don’t give up make, sure you get back what they have taken in overcharges over the last 6 years, it is the only way they will learn.

We are told of the rise of organised crime, well you don’t get much more organised than banks and building societies.


Regards


Andrew Carter

nice letter,(just getting the post count up as quiet night at the moment)