Anyone know what happens with section 75 chargebacks?

[guessmyusername]

I have recently initiated a chargeback with my credit card company due to failure of a tradesman to finish a job. I have received enough for another tradesman to do the necessary. I was wondering if the credit card company just takes the loss or do they chase the tradesman for the cash, or what?

You start the claim. The bank will either refund you themselves, or ask you to wait. They’ll contact the seller and send over your claim, the seller gets a set amount of time to respond, usually 45 days but it’s been extended by some banks in Covid.

If the seller disputes the claim, the bank will decide, and then either recover the money from you or let you know why a refund won’t be coming.

They should have let you know that the money could be reclaimed, if they’ve refunded you themselves.

TakeYourFinalPosition perhaps I didn't make it clear. I have received my claim from my credit card company but was wondering if they try to claw it back somehow

I don't know the answer to that. It will be in the contract between the card company and the trader but as Section 75 makes the card company jointly liable with the trader, that suggests that it's the card company that pays up and they don't recover the money from the trader, which sounds right, because I don't think you'd get any tradesperson accepting credit cards if they knew that the card company could take money off them any time a customer complained.

What I do know is that it would have been the credit card company that paid up when I got a refund for flights lost when Monarch went bust, obviously because Monarch were bust so had no money or what they did have would have gone to the taxman etc first and credit card providers would have been at the back of a long queue.