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Readership: Primary market: barristers and solicitors practising in consumer credit work; in-house lawyers in finance companies; legal groups such as CCTA (Consumer Credit Trade Association); the Local Authorities Coordinators of Regulatory Services, and the Finance Industry Standards Association. Secondary market; the legal departments of leasing/hire companies and retail chains; Citizens Advice Bureaux and similar consumer organisations,; and both undergraduate and post-graduate law students.
Richard Mawrey QC, Barrister, Henderson Chambers, and Toby Riley-Smith, Barrister, Henderson Chambers
1: Introduction The Consumer Credit Act 1974 and its History The Move Towards Change The Consumer Credit Act 2006 2: Scope of the Act General Scope of the Act Definition of 'Individual' Removal of Financial Limits and New Exemptions from Regulation Changes to the Terminology of the Consumer Credit Act 1974 Reform of the Licensing System Civil Penalties and Reform of the Appeals Procedures Creation of the Ombudsman Scheme Statements New Provisions for Default and Termination Unfair Relationships Miscellaneous Changes Changes in Consumer Credit Regulations 3: Licencing of Credit Businesses The Existing System of Licensing under the Consumer Credit Act 1974 Scope of Businesses Covered by the Consumer Credit Act 2006 Consequences of Trading without a Licence Applying for a Licemce: the 'Fitness Test' Variation of Licences 'Indefinite' Licences Poers of the Office of Fair Trading Information Penalties The Consumer Credit Appeals Tribunal 4: Financial Ombudsman Introduction The Financial Ombudsman Service The New Consumer Credit Jurisdiction and Rules Practice and Procedure of a Complaint to the Financial Ombudsman Service Funding of the Ombudsman Scheme Various Consequential Amendments Relating to the Ombudsman Scheme The Implications of the Consumer Credit Scheme 5: Statements Introduction Pre-contractual Information Post-contractual Information Conclusion 6: Agreements Introduction The Structure of Regulation Amended Form and Content of Consumer Credit Agreements Amended Form and Content of Consumer Hire Agreements Amended Form and Content of Modifying Agreements 7: Default and Enforcement The Existing Default and Enforcement Provisions Default Notices 'Default Sums' Notice of Default Sums Interest on Default Sums Notice of Sums in Arrears: Fixed-sum Credit Agreements Notice of Sums in Arrears: Running-account Credit Agreements Failure to Give Notice of Sums in Arrears Information Sheets Enforceability of Regulated Agreements Time Orders Interest Payable on Judgement Debts 8: Early Settlement Former Rules on Early Settlement Entitlement to Rebate Items Included in Calculation Changes to the Basis of Calculation Settlement Date and Deferral Savings 9: Unfair Relationships Introduction The Current Scheme of Extortionate Credit Bargains The New Scheme of Unfair Relationships The Court's Approach in Future 10: Advertisements The Previous Rules and the Need for Change The 2004 Regulations - Scope and General Content of Advertisements - Credit Agreements Content of Advertisements - Hire Agreements Calendar or Seasonal Periods Security The APR What Not to Say 11: Electronic Communications Scope of this Chapter Electronic Signatures Distance Marketing Changes to the Consumer Credit Act 1974 Changes to the Regulations APPENDICES Appendix 1: Consumer Credit Act 2006 Appendix 2: The Consumer Credit (Advertisements) Regulations 2004 Appendix 3: The Consumer Credit (Agreements) (Amendment) Regulations 2004 Appendix 4: The Consumer Credit (Disclosure of Information) Regulations 2004 Appendix 5: The Consumer Credit (Early Settlement) Regulations 2004 Appendix 6: The Consumer Credit Act 1974 (Electronic Communications) Order 2004 Appendix 7: The Consumer Credit (Enforcement, Default and Termination Notices) (Amendment) Regulations 2004 Appendix 8: The Financial Services (Distance Marketing) Regulations 2004 Appendix 9: The Consumer Credit Act 2006 - DTI's Timetable for Implementation (May 2006)
