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Could anyone please tell me whether or not they would class a BOC preference account as a credit account or a bank account?
BOS told me yesterday that it is not a bank account. It is a debit card account and not a credit card. I have a credit facility on it for £5,000 and at the moment the balance is about £4,000 the apr is 18.9% pa I have been paying the minimum payment via direct debit.
I am confused about which route to go down to reclaim my charges. Should I go down the credit card route or bank account route???
If BOS state that this is not a bank account, then reclaim any penalty charges from them as you would a credit card account. Hopefully, the claim should be able to proceed without being stayed if you pursue it as a credit card account claim............. but some courts have imposed stays on credit card claims so you'll still need to proceed with caution and ensure you follow the guidance to the letter.
Best of luck
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Definition Of Preference Account
told me yesterday that it is not a bank account. It is a debit card account and not a credit card. I have a credit facility on it for £5,000 and at the moment the balance is about £4,000 the apr is 18.9% pa I have been paying the minimum payment via direct debit
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