Consumer credit agreements

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Consumer credit agreements guidance:

Introduction to early settlement Borrowers are entitled, at any time, to bring regulated agreements to an end. If they elect to do so they must notify the debtor by way...

Practice Note

Firms carrying on a consumer credit-related activity are required to comply with the Financial Conduct Authority’s (FCA) Consumer Credit Sourcebook (CONC). Chapter 6 of...

Practice Note

Consumer credit pre-contract requirements In its Consultation Paper entitled 'Detailed proposals for the FCA regime for consumer credit (CP13/10), the Financial Conduct...

Practice Note

Goode consumer credit materials—default and enforcement For further discussion on the topics raised in this Practice Note, a statement of the regulatory requirements...

Practice Note

The Consumer Credit Act 1974 (CCA 1974), the Financial Services and Markets Act 2000 (FSMA 2000) and the Financial Services and Markets Act 2000 (Regulated Activities...

Practice Note

Definition of credit limit A credit limit is used in running-account credit agreements and is the maximum amount the borrower can drawdown, disregarding any term of the...

Practice Note

ARCHIVED: This archived Practice Note provides information on the data protection regime before 25 May 2018 and reflects the position under the Data Protection Act 1998....

Practice Note

The debt sale and purchase market in the UK The debt sale and purchase market has for some time been very active throughout the UK. It is an important way for lenders and...

Practice Note

A consumer credit agreement is an agreement between an individual (the debtor) and any other person (the creditor) by which the creditor provides the debtor with credit...

Practice Note

Specific rules in the benefits code in ITEPA 2003, Part 3 apply to 'employment-related loans' and, in certain circumstances, impose income tax and NICs charges on...

Practice Note

BREXIT: The UK is leaving EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. To ensure the effective...

Practice Note

This year’s annual round-up reviews some of the most significant consumer finance developments of 2017 and previews what is on the horizon for 2018 relating to consumer...

Practice Note

General A client who successfully proceeds against a debtor through the courts will usually assume that the debtor will comply with the judgment or order obtained....

Practice Note

Overview Under the Consumer Credit Act 1974 (CCA 1974), a debtor under a regulated credit agreement is generally entitled to receive a copy of the executed agreement into...

Practice Note

Overview Under a contract for the sale or supply of goods or services as between a supplier and purchaser, the purchaser’s causes of action and remedies are well known....

Practice Note

Firms carrying on a consumer credit-related activity must comply with the Financial Conduct Authority’s (FCA) Consumer Credit Sourcebook (CONC). CONC chapter 5 (CONC 5)...

Practice Note

Background to consumer credit agreements Since 1 April 2014, the Financial Conduct Authority (FCA) has been responsible for the regulation of consumer credit). The...

Practice Note

In certain circumstances debtors may, within 14 days, withdraw from agreements regulated under the Consumer Credit Act 1974 (CCA 1974). This Practice Note explores the...

Practice Note

General It is not uncommon for consumer credit agreements to be backed by the taking of some form of security, either from the debtor or from a third party. Security...

Practice Note

Principles This Practice Note examines the unfair relationship provisions of the Consumer Credit Act 1974 (CCA 1974) that empower a court to find that the relationship...

Practice Note

What is a regulated consumer credit agreement? There are several factors to consider when deciding whether a consumer credit agreement is regulated by the Consumer Credit...

Practice Note