Recent press coverage has once again highlighted how unpopular banks and financial institutions are. The Payday loan industry has seen huge growth in recent years, and many industry specialists believe this increase in the popularity of short term loans is a direct result of the difficulties people have accessing the funds they need from banks.
Reports are indicating that the majority of people prefer not to deal with their banks unless they have too, and many prefer not to get in touch unless absolutely necessary. This is unfortunate, because, just like private lenders, banks and building societies are bound by strict guidelines and rules. They must all operate fairly, and treat customers with courtesy and professionalism.
If you feel that you are not being treated well by any financial institution, you have the right as a consumer to complain. We also believe that people can be overly stressed when dealing with banks, and in fact, they do not need to be so worried. Most banks and private lenders will do their best to help, address problems, and answer questions and queries.
If you find dealing with your bank stressful and difficult, here are a few simple tips to help you handle things more easily and with much less worry and stress.
Most banks and lenders will be happy to arrange reasonable payments if your account is overdrawn, or you are behind on a loan payment. So it is best to call them and speak to someone, rather than ignore the situation. The longer you ignore a problem, the more serious it will become.
Keep all your paperwork, and make sure letters are dated and signed correctly, and that you file them safely for future reference. If you are speaking to someone on the phone, you can ask for their name and record it, and the time and date of the telephone conversation.
If an agreement is made over the phone, ask for it in writing by letter or email so you have a record of the agreement.
Communication is the key. If you keep the communication channels open, you will find that the majority of institutions are very helpful. Stick to agreements that are made to repay overdue loans, overdrawn accounts, or repay any other form of borrowing.
Don’t forget to ask for help if you are struggling. Maybe they will not be able to give you more money, but they may be able to give you more time to repay what you owe.
Financial institutions are there to provide a service for you, and help you. If you are reasonable with them, they will be the same with you. In recent years many people have struggle with banks, and lenders, but we believe that things are improving and relations between people and their banks and lenders is improving gradually and will continue to do so as people come to understand what help and assistance is available to them.
Reports are indicating that the majority of people prefer not to deal with their banks unless they have too, and many prefer not to get in touch unless absolutely necessary. This is unfortunate, because, just like private lenders, banks and building societies are bound by strict guidelines and rules. They must all operate fairly, and treat customers with courtesy and professionalism.
If you feel that you are not being treated well by any financial institution, you have the right as a consumer to complain. We also believe that people can be overly stressed when dealing with banks, and in fact, they do not need to be so worried. Most banks and private lenders will do their best to help, address problems, and answer questions and queries.
If you find dealing with your bank stressful and difficult, here are a few simple tips to help you handle things more easily and with much less worry and stress.
Most banks and lenders will be happy to arrange reasonable payments if your account is overdrawn, or you are behind on a loan payment. So it is best to call them and speak to someone, rather than ignore the situation. The longer you ignore a problem, the more serious it will become.
Keep all your paperwork, and make sure letters are dated and signed correctly, and that you file them safely for future reference. If you are speaking to someone on the phone, you can ask for their name and record it, and the time and date of the telephone conversation.
If an agreement is made over the phone, ask for it in writing by letter or email so you have a record of the agreement.
Communication is the key. If you keep the communication channels open, you will find that the majority of institutions are very helpful. Stick to agreements that are made to repay overdue loans, overdrawn accounts, or repay any other form of borrowing.
Don’t forget to ask for help if you are struggling. Maybe they will not be able to give you more money, but they may be able to give you more time to repay what you owe.
Financial institutions are there to provide a service for you, and help you. If you are reasonable with them, they will be the same with you. In recent years many people have struggle with banks, and lenders, but we believe that things are improving and relations between people and their banks and lenders is improving gradually and will continue to do so as people come to understand what help and assistance is available to them.
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