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Make sure you read the small print on all agreements

As we see the UK government step forward with further protection for UK consumers there are many simple ways in which consumers can actually help to protect themselves. As we covered in one of our earlier post, regarding credit card charges, the need to be aware of exactly what charges your spending will attract and how this will be deducted from your overall balance is paramount.

While those who withdraw cash from the credit cards at rates approaching 30% will no doubt be unhappy when they see their credit card bills come through, these charges are perfectly legal and specifically identified in service agreements. There are many other instances of charges which "consumers were unaware of" when in fact they are perfectly legal and perfectly well documented in the various agreements.

While the UK government, and various consumer groups, are now stepping forward to assist and offer further protection to consumers, in many cases consumers need to help themselves before they sign any financial agreements and commit themselves to any credit arrangements. As we have seen with the UK bank charges saga, the UK financial industry is very powerful and more than willing to take any such arguments all the way to the law courts.

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