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- Consumer Credit Act - |
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The Consumer Credit Act was passed in 1974. Amendments are made from time to time, most recently in 2006. It is an Act primarily designed to protect borrowers, but offers clarification and a degree of protection to lenders, too. All money-lending activities in the UK, including loans and hire purchase agreements for an amount under £25,000, are covered. An important part of the Act is the cooling off period, but there are many more details than can be covered here, and a trip to the DTI website is advised. Loan agreements between businesses are not covered - the Act is solely for consumers.
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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
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| Think carefully before securing other debts against your home. Your home may be reposessed if you do not keep up repayments on your mortgage or any other debt secured on it. Loans secured on your home. |
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Licensed credit broker authorised by the Office of Fair Trading. Registered members of CFB, FISA, FSA, Data Protection Act 1984 |
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| Processing by LL Processing (UK) LTD, Intec 4, Wade Road, Basingstoke RG24 8NE |
© 2007 LoanLine - Consumer Credit Act |
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