Wednesday, June 04, 2008
Consumer Credit Act 2006 – further information
On April 6 new provisions were introduced under the Consumer Credit Act 2006.
The financial limit of £25,000 credit was removed.
The Office of Fair Trading has a strengthened licensing regime
A new consumer credit appeals tribunal was set up (for appeals against licensing decisions).
There is an unfair relationships test for all credit agreements
On October 1 lenders will be obliged to give more information to borrowers about accounts such as annual statements.
DATED: 04.06.08
FEED: AM
The financial limit of £25,000 credit was removed.
The Office of Fair Trading has a strengthened licensing regime
A new consumer credit appeals tribunal was set up (for appeals against licensing decisions).
There is an unfair relationships test for all credit agreements
On October 1 lenders will be obliged to give more information to borrowers about accounts such as annual statements.
DATED: 04.06.08
FEED: AM
