Personal Finance News

01/11/12 - Money advice in increasing demand, says study
31/10/12 - Payment barriers exist for disabled and older people, says study
31/10/12 - Gender differences apparent when financial planning
31/10/12 - Half of Brits shop with a basic credit card, says study
30/10/12 - Number of Brits sitting on forgotten direct debits - 2.68 million

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This Week's Personal Finance News Update

01/11/12 - Money advice in increasing demand, says study
31/10/12 - Payment barriers exist for disabled and older people, says study
31/10/12 - Gender differences apparent when financial planning
31/10/12 - Half of Brits shop with a basic credit card, says study
30/10/12 - Number of Brits sitting on forgotten direct debits - 2.68 million
30/10/12 - More than half of parents are unaware of Junior ISAs
30/10/12 - Over 80% of advisers name 'cost & administration' as top employer concern
30/10/12 - Brits left with £1.4bn repair bill during 'mischief week'
29/10/12 - East of England landlords at apex of yield chart
29/10/12 - Buyers more optimistic about Scottish property market

News

10/07/2012 16:22:11

57% overcharged on bills

More than half of consumers in the UK were overcharged at least once in the last year, according to new research.

The research from uSwitch.com reveals that, on average, consumers were overcharged by £229, with a quarter getting billed too much on more than one occasion. It took an average of 58 days to get the issue resolved.

However, 12 per cent of people said they are still waiting to get their money back, while 13 per cent have now given up on getting their funds returned. An average of £22 worth of phone calls and correspondence was required to get a refund.

In response to these findings, Ann Robinson, director of consumer policy at uSwitch.com, urged households to take control of their wealth management.

"People must look at their bills and not take it for granted that a company has got its sums right," she said.

"It's imperative that consumers are able to spot and resolve any mistakes quickly."

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