When MFI went bust in 2008 I marvelled at how clients who paid for kitchens that weren’t delivered had been capable of get their a refund on their bank cards.
They did so below part 75 of the Shopper Credit score Act, a superb little bit of laws that makes credit score corporations responsible for items and companies not acquired by a retailer. The same, although much less sturdy scheme often known as chargeback operates for debit playing cards.
I’m positive you already know all this, however these guidelines at the moment are at a vital level the place they want updating as a result of they’re being abused, not a lot by us, however by companies and insurers, and when that occurs our shopper protections get eroded.
Unusually, the Shopper Credit score Act was old-fashioned