Nova Insurance Praises New Rogue Trader Prevention Scheme
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However, under the new regulations rogue traders can be challenged by victims in a more effective manner. Action Fraud is a crime report agency who has recently stated that £6.6 billion is lost every year because of unfair trading. However, under these new laws anyone who is sold a service that they do not want nor need will be given up to 90 days to act.
The legal change was announced by
The Unfair Trading Regulations gives consumers 90 days to annul a product or service if they have been bullied or misled into purchasing it. Consumers will also be able to receive a full refund if the process is done within 90 days, or a portion of their money back after this period.
Before, if a trader had bullied or misled a consumer into paying extra money they could be prosecuted, however it was often difficult for the consumer to recoup their losses. With these new regulations consumers have a better chance of recovering these payments and also have the opportunity to claim compensation in the case of 'alarm' or 'distress' being caused by the situation.
There are many different ways to avoid rogue traders such as researching services or products before handing over any money. The new regulations will make life easier for both traders and consumers, however it is still important for the government to continue to advise the public on the issue of rogue traders.
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