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rules governing regulated consumer agreements
Whilst I firmly believe in paying one's debts, I need to know who could help me check whether or not a loan agreement complies legally with the Consumer Credit Act.
I saw an item around 3 weeks ago on BBC North West Tonight, on loan companies (including the big banks) not giving the customer notice of the amount of interest to be repaid on their copy of the agreement. It was suggested that this did not comply with the Consumer Credit Act and therefore was unenforceable.
What kind of organisation would look into this for me? Any help would be much appreciated.
I saw an item around 3 weeks ago on BBC North West Tonight, on loan companies (including the big banks) not giving the customer notice of the amount of interest to be repaid on their copy of the agreement. It was suggested that this did not comply with the Consumer Credit Act and therefore was unenforceable.
What kind of organisation would look into this for me? Any help would be much appreciated.
0
Comments
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If you have the agreement then have Trading Standards or CAB look at it.
These days you are supposed to get a pre contract copy detailing amount borrowed total payable and APR. This came in at 30 May 2005 (IIRC)
Have a read HEREI have a cunning plan!
Proud to be dealing with my debts.0 -
Thank you for that, Cumbrian Male. Your reply was very helpful0
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