• The cost of not reading the small print
    16 replies, posted
[QUOTE]A study from The Money Advice Service suggests that four out of five UK adults do not read the full terms and conditions when they buy financial products, such as mortgages. The research suggests that misunderstanding financial jargon cost UK consumers £21bn last year[/QUOTE] [URL="http://www.bbc.co.uk/news/business-29085353"]Source[/URL]
Is this even news
I guess you cant be arsed when reading the ToS for a website, but when its actual real contracts with real money and stuff it's still really something you should read. I do read all those sorta important papers even though its 50 pages of words i dont understand.
Ma father didn't read the small print on a T-Com contract, it cost us around 300€ in 2 years. When I asked him why didn't he read the small print, he basically said "why would he read small print, they should have told him what is in contract". Not to mention he signed it in a supermarket... [facepalm]WTF !?[/facepalm]
To be fair, I don't think we got even a percent on facepunch who read a ToS or the like out of interest and not just "lol gee ima read it so i can say i once read one" Ridiculous really, wish they'd make them more consumer friendly.
Christ, creeper, how many "news" threads do you have to make
What idiot doesn't read the small print - you should bring any/all contracts to your solicitor if you're signing something, god knows what's hidden in there.
[QUOTE=Fatfatfatty;45906686]I guess you cant be arsed when reading the ToS for a website, but when its actual real contracts with real money and stuff it's still really something you should read. I do read all those sorta important papers even though its 50 pages of words i dont understand.[/QUOTE] Pretty much any financial product I've "bought," like credit cards or bank accounts or whatnot, have come with a pamphlet that explained all the terms. You just have to read it, it's not like you're reading a short novel, most of them are pretty straightforward but come with some weird terms that you could violate. There's really no excuse.
im more suprised 1 in 5 people actually do read the terms
Creeper, why are you 80% of SH's first page?
I think people do still read contracts carefully but most of the time we skim through it and just note down the important details whilst the small print ends up being ignored because it's probably assumed to be the least important information except usually it's where you end up finding out that financial product you just bought suddenly became 100% shittier than it really was before.
[QUOTE=Revanold;45906654]Is this even news[/QUOTE] "The research suggests that misunderstanding financial jargon cost UK consumers £21bn last year" it's something
Creeper is going a bit far with random news threads. Is there a contest or something? [editline]6th September 2014[/editline] It's like he's trying to become a news bot.
I know someone who recently bought a new car and they snuck in a section in the contract where some of the extras they promised her were specifically exempted from delivery. Her husband just wanted to get out of the dealership so he pressured her to sign so they could leave. She, on the other hand, is highly suspicious of getting ripped off so she insisted on reading every last line of the contract first. She spotted what they did and got management to 'fix' their accidental mistake. The sales guy was pissed off at getting caught. So yeah, you need to read the contract, all of it. This is even more important when large amounts of money are involved.
Humancentipad.....
[QUOTE=Sgt. Khorn;45907831]Creeper is going a bit far with random news threads. Is there a contest or something? [editline]6th September 2014[/editline] It's like he's trying to become a news bot.[/QUOTE] [IMG]http://facepunch.com/image.php?u=492411&dateline=1402692005[/IMG] RESISTANCE IS FUTILE YOU WILL BE ASSIMILATED
[QUOTE=redback3;45907155]What idiot doesn't read the small print - you should bring any/all contracts to your solicitor if you're signing something, god knows what's hidden in there.[/QUOTE] If in order to understand a contract you would need to take it to a solicitor, you can get out of the contract. Consumer protection and all that. If the contract is written in such a way, that a consumer can not be reasonable expected to understand it, you can make arguments about it not being binding. That said, if you are getting a significant contract like a loan or something similar, I would recommend you do take it to one. But definitely for not everyday stuff like telecoms. Just do make certain to read it trough.
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