ang
24-04-2010, 12:40 AM
Matthew Elderfield is coming down on the side of the consumer on this one.
Lenders could face multi-million euro fines. The regulators investigations have found that most banks and buiding societies are acting fairly.
However, Mr Elderfield warned that sub-prime lenders are harassing customers who have fallen into arrears by:
* Repeatedly contacting them via phone, text, email and letter.
* Appearing at their homes or place of work without consent.
* Charging customers higher costs than other lenders for such correspondence.
"There is a high level of contact with consumers in arrears, the frequency of application of charges to consumers in arrears and the early commencement of legal action on repossession," Mr Elderfield warned
http://www.examiner.ie/home/pestering-sub-prime-lenders-face-stiff-penalties-118097.html
Lenders could face multi-million euro fines. The regulators investigations have found that most banks and buiding societies are acting fairly.
However, Mr Elderfield warned that sub-prime lenders are harassing customers who have fallen into arrears by:
* Repeatedly contacting them via phone, text, email and letter.
* Appearing at their homes or place of work without consent.
* Charging customers higher costs than other lenders for such correspondence.
"There is a high level of contact with consumers in arrears, the frequency of application of charges to consumers in arrears and the early commencement of legal action on repossession," Mr Elderfield warned
http://www.examiner.ie/home/pestering-sub-prime-lenders-face-stiff-penalties-118097.html