The BBA is now integrated into UK Finance. Please go to www.ukfinance.org.uk for new content and updates from UK Finance.
Material published by BBA prior to 1st July 2017 is still available on this website.
From 1 July 2017, the finance and banking industry operating in the UK will be represented by a new trade association, UK Finance. It will represent around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation will take on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association.x
Help if you are experiencing financial difficulties.
Your bank will be signed up to a set of standards called the Lending Code, which commits them to acting sympathetically and positively if you are experiencing financial difficulties.
Contact your bank or lender as soon as you think you will experience financial difficulties and they will work with you to overcome them. This will include:
If you owe money to a number of lenders, independent money advice may be recommended.
If you have any mental or physical health issues that affect your ability to repay your debts, you should let your lender know so they can make appropriate arrangements.
How to make a complaint
If you are unhappy with your bank’s service, they will tell you how to make a complaint and how quickly they will deal with it. If they cannot settle the complaint to your satisfaction, you may ask the free, independent Financial Ombudsman Service to look into it.
Their contact details are:
Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall
Phone: 0845 080 1800
What other protection do I have?
As well as the Lending Code, lenders must at all times follow the Consumer Credit Act, the Equality Act, and other legislation such as the Payment Services Regulations and the Consumer Protection from Unfair Trading Regulations.
If you want more information about your rights under the Consumer Credit Act, you can contact the Citizens Advice Consumer Service by calling 08454 04 05 06 or using their website at: www.adviceguide.org.uk.
If you would like more information on the Lending Code, which covers personal loans, credit cards & charge cards, and current account overdrafts, see our publication A guide to the Lending Code here.
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