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How can parties be removed from consumer credit agreement regulated secured loans? Is a modification agreement required?

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Published on LexisPSL on 19/03/2019

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  • How can parties be removed from consumer credit agreement regulated secured loans? Is a modification agreement required?

How can parties be removed from consumer credit agreement regulated secured loans? Is a modification agreement required?

A joint consumer credit agreement creates joint and several liability for the debtors—see guidance Taking out a joint loan: what you need to know.

See also Practice Note: Restrictions on varying or modifying consumer credit agreements, in particular part ‘Modifying agreements—are there any other points to note?’, under section: Restrictions on

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