Incredibly unreasonable practice. They work with small business's and apply immense pressure from the first day of a late payment, even if all previous have been up to date and their interest rates are already extremely high. The circumstances do not matter to them and they process legal action from the first late payment and add fees to make your situation worse. Writing to the financial ombudsman to see if this is even legal as FCA guidelines seem to say otherwise as its not a court document so no legal fees should be incurred. Will update with the outcome.
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