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Consumer Credit Act 1974

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Consumer Credit Act 1974

Act of the UK Parliament that regulates the giving of credit by companies. Under the act, any company wishing to offer credit to consumers has to obtain a licence. The annual percentage rate (APR) on a loan has to be stated on any advertisement for credit or on contracts. Consumers signing a credit contract at home have the right to change their mind within 12 days.

In the USA, the Uniform Consumer Credit Code applies to credit sales and consumer loans. Licensed lenders may charge 3% a month. Another 17% can be added annually if monthly payments are used.



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USE a credit card or take out finance arranged by the trader as under Section 75 of the Consumer Credit Act 1974 the bank are jointly liable should anything go wrong.
Suite little mystery by Sunday Mail (Glasgow, Scotland)
With second charges, although many of these fall within the protections of the Consumer Credit Act 1974, from a consumer perspective there is little to support the current distinctions between first and second charges.
The Mortgage Market Review: Major Reform For The Mortgage Market by Mondaq Business Briefing
Section 75 of the Consumer Credit Act 1974 allows consumers to claim compensation from the credit card company if the supplier is in breach of contract for transactions of over ?
Credit Cards Top 5 Tips for Using a Credit Card Abroad by Thomasina Miers / Finance and Investment community
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