Consumer credit in the United Kingdom is governed by the Consumer Credit Act 1974 (amended in 2006), the Financial Services and Markets Act 2000 and various regulations transposing EU consumer credit legislation. Part IV of the Act also applies to ancillary credit transactions in advertising, advertising and offers, as well as to business research. The law also limited the brokerage fees that credit brokers can collect. According to Section 155, if the brokerage does not lead the client to enter into an agreement with a creditor within 6 months of the work, the full fee (deducted from the sum of 1 euro) is refunded to the client. The Director General indicated at the time that companies that did not comply with Section 155 would be denied a licence. These provisions came into effect on April 1, 1977.  However, depending on the circumstances, you may be eligible for protection under section 75A. The price of the item or service must be more than $30,000 and the amount of the loan that the seller has arranged for you must not exceed $60,260. Does not apply to an agreement between the borrower and the lender, which allows the client to transfer a current account other than such an agreement, which is an overdraft contract that is over-authorized, but to the fact that the loan is not repaid on request or within three months. In September 1973, the government released a white paper entitled Consumer Credit Reform, in which it announced its intention to implement almost all of the Crowther Committee`s recommendations on consumer credit. The only real differences were an increase in financial protection caps from $2,000 to $5,000 (due to the loss of value of the money) and greater protection for tenants under lease-to-sale contracts.  the credit contract would be guaranteed on the customer`s property; Debt adjustment is made when a business or individual negotiates with the creditor or owner in an agreement on behalf of the debtor, changes the terms of debt relief, assumes the debt in return for the payment made by the debtor, or “performs any similar activity related to the liquidation of a debt.” It is again a vast territory; The basic definition includes, among other things.
B lawyers and accountants who act as negotiators for clients who owe money to a third party. There are some exceptions; a lawyer who negotiates the payment of his client`s debts is not considered a debt adjuster, since he excludes, under Section 146 of the Act, “a lawyer who does litigation business,” as defined in the Solicitors Act of 1957.  A license may be terminated with the death of the licensee, the licensee becomes bankrupt, the licensee becomes patient under the Mental Health Act of 1959, a bankruptcy contract under the 1914 Bankruptcy Act, in which the license is granted to an agent, or a deal under the Deeds of Arrangement Act 1914 that hands over the licensed license to an agent. These provisions apply to both unincorporated individual entities and licensed partnerships.  These provisions do not cover entities, since the government has been informed, after consultation, that the liquidation and liquidation of an entity would cause problems with licensing, in part because the agency continues to act through a liquidator.  (d) the type of copy documents that do not have to be accompanied by copy agreements in accordance with the law (Regulation 11). All contractual information must be presented to customers in a clear and concise manner. Part V contains several provisions regarding the termination of a regulated contract and the exit of a prospective regulated contract.
These are similar to those of the Hire-Purchase Act of 1965, but cover all consumer credit and consumer lease contracts, not the leases and installments previously covered.