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Consumer Credit Act 1995

MonicaBing · 2009-11-12 13:52:08

Hi guys can anyone give me an example on how the above statute helps the consumer? I need to brealk it down into simple english for my son and im drawing a blank as to how to it? He's 15 and learning it in Business, thanks for any help!

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12-11-2009 2:52pm

#1

MonicaBing

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Join Date: September 2008

Posts: 482

Hi guys can anyone give me an example on how the above statute helps the consumer? I need to brealk it down into simple english for my son and im drawing a blank as to how to it? He's 15 and learning it in Business, thanks for any help!

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#2 12-11-2009 2:55pm
jimoc

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Join Date: January 2002

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As far as I'm aware, it makes it incumbent on the provider of the credit to outline exactly what it is you are signing up for.
We keep getting letters from Oxendales about this and what they sent us is a document which specifically outlines exactly what our credit terms are and how we are expected to pay them, with all extra charges outlined in seperate sections.

It also has a big 'THIS IS A HIGH COST LOAN' box so that you know you're selling your soul.

I think thats about all it does for us.

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#3 12-11-2009 6:28pm
PacManFan

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Join Date: August 2009

Posts: 79

Does this help?

Citizen Information

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