[Blackmirror]

My mum who is in her 70s bought a wedding outfit from Ambrose Wilson

Ambrose Wilson | The ladies clothing catalogue with fashion in sizes 12-32 and lingerie with bras to JJ cups | Ambrose Wilson - Ambrose Wilson

She has been unwell and asked me to make her monthly payment

On the slip it said Min payment £24
when i looked there was a credit charge of £11 added each month

typical APR is 39.6%

So for every 24 she pays off only 13 is deducted from her bill

Thats outrageous
Something she was unaware of as she didnt read the small print

[Howard]

I'm so sorry to hear of your mums trouble BM.

I've just been reading through their Terms and Conditions "Your Credit Summary" and I must say, I wouldn't touch them with a barge pole.

[Albert Lionheart]

Take it to Citizens Advice and ask for their intervention. If the terms are not easy to understand then they may be considered unfair and she might be due a refund. Worth a try!

[Blackmirror]

I am going to contact them and threaten them with watchdog
Its daylight robbery

[Albert Lionheart]

It is - and you could add the EDP as a threat too!

[Gunner]

APR 39.6% (variable)
That seems to almost, if not already, approaches total USURY.

[quehegan]

That sounds very similar to what has been going on here in America. Most credit cards have an interest rate of 20%-40%. I have seen some as high as 58% but those are for people who have a horrible credit score and unsuspecting college students. It has gotten so bad that the government is putting restrictions on how credit card companies can charge interest and how much they can charge. God forbid you are a day late on your payment. Some companies will raiser your interest rate by 10% every time you are late and prorate the bill back on all your previous charges.

[Ukkonen]

Sounds like you don't have an KSL (or something like that) in UK

[Gunner]

Oh, it gets even worse than that.
Alabama is a title loan state which means companies will loan you money
on your car. You keep the car and they keep your title until the loan is paid off.
Interest? 300% If you borrow $1000, you owe $250 per month just in interest.
They do this outrageous act in spite of the courts ruling it illegal.
Many states have outlawed this completely...for good reason.
Of course it is for poor people disparate for a loan for whatever reasons.
Many lose their ride and then their job because of practices such as this.

Credit card rates have been modified recently to not allow companies to raise
your rates based merely on being late on another card completely separate from
each other. It's a racket.
Prime interest rates range from Fed Discount Rate of .5% to WSJ rates of 3.25%
but credit card rates continue to escalate. Why? Demand of course.

[Ukkonen]

I found KSL on English: http://www.finlex.fi/fi/laki/kaannok...en19780038.pdf

That prevents for example companies to have so high interests and so on, if they break it they fill be fined hard

[Blackmirror]

BBC NEWS | England | Bristol | Police raids target loan sharks

One of my victims could have borrowed £2,000 five years ago [and] has now paid back £15,000, that's the sort of scale we're looking at."

[Albert Lionheart]

These horrors are taking advantage of people in real trouble who cannot borrow money anywhere else - or so they think. Why does nobody use the Citizens Advice Bureau (UK Only!)?