Chrisb80 wrote: »
The CCA regulates the way in which consumer credit licensees carry on business. For example, there are rules on advertising, pre-contract disclosure, credit agreements and post-contractual information. In addition, the Act confers certain rights on consumers, including in relation to withdrawal from a credit agreement, early settlement just to name a few. As most people taking out such loans as we did (not being legal experts) the CCA protection for me is piece of mind.
I may be wrong but this is my view...
rmart wrote: »
In our case when the house was sold we reduced the unsecured part from 28k to 10k, and they increased the interest rate on that to 12%, robbing sods !.
So the amount owed was reduced and the interest rate increased but the paperwork was never changed.
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