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Consumer Credit Act

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Consumer Credit Directive

The Consumer Credit Act and regulations are changing as a result of implementation of the Consumer Credit Directive (CCD).  Regulations were laid on 30 March 2010 and are due to come into force on 1 February 2011. It will however be open to firms to comply before then if they choose. Details can be found on the Department for Business, Innovation and Skills (BIS) website.

Relevant OFT guidance will be updated in due course in the light of the CCD changes.

Leaflet reference Publication title and description Quantity required
OFT1307sum Summary of responses to the consultation on 'Credit brokers and intermediaries' (May 2012)
OFT guidance for brokers, intermediaries and the consumer credit and hire businesses which employ or use their services
OFT1307sum Summary of responses to the consultation on 'Credit brokers and intermediaries' (pdf 512 kb) 		Download only
oft366rev Debt management (and credit repair services) guidance (March 2012)
The primary aim of this guidance is to assist licensees engaging in, and/or those proposing to engage in, debt advice/debt management activities and/or providing credit information services (including credit repair) in ensuring that they meet the standards expected by the OFT
Debt management (and credit repair services) guidance (pdf 915 kb) 		Download only
oft664rev Debt Collection: OFT guidance for all businesses engaged in the recovery of consumer credit debts (July 2003, updated October 2011)
Guidance for debt collectors on how to deal fairly with debtors. Aimed at all consumer credit licence holders and applicants and applies to collection of debt once an account is in default.
OFT664Rev (pdf 597 kb) 		Download only
oft1373 Mental Capacity: OFT guidance for creditors and Mental Capacity Quick Reference (September 2011)
Guidance for creditors when dealing with borrowers who it is understood or supected might have some form of mental capacity limitation that could impact on their ability to make an informed borrowing decision
Mental Capacity guidance for creditors - quick reference (pdf 71 kb) oft1373 Mental Capacity - OFT's guidance for creditors (pdf 547 kb) 		Download only
oft1388 Credit brokers and intermediaries (November 2011)
OFT guidance for brokers, intermediaries and the consumer credit and hire businesses which employ or use their services
Credit brokers and intermediaries guidance (pdf 626 kb) 		Download only
OFT1378con Consumer Credit Act 1974 Misleading or Otherwise Undesirable Names - an OFT consultation (October 2011)
Consultation on the OFT's guidance on the circumstances when names are required to be notified for inclusion on a credit licence and on those which are likely to be deemed unacceptable.
OFT1378con Misleading names (pdf 315 kb) 		Download only
OFT1378 Misleading or Otherwise Undesirable Names (April 2012)
Guidance on misleading or otherwise undesirable trading names to businesses offering credit services or products.
Misleading or otherwise undesirable names (pdf 271 kb) 		Download only
oft 854Rev Unfair relationships - Enforcement action under Part 8 of the Enterprise Act 2002 (May 2008 revised August 2011)
Enforcement action under Part 8 of the Enterprise Act 2002
Unfair relationships - Enforcement action under Part 8 of the Enterprise Act 2002 (revised August 2011) (pdf 440 kb) 		Download only
oft1107 Irresponsible lending – OFT guidance for creditors (updated February 2011)
This guidance provides greater clarity for businesses and consumer representatives as to the business practices that the OFT considers may constitute irresponsible lending practices for the purposes of section 25(2B) of the Consumer Credit Act 1974.
Irresponsible lending - OFT guidance for creditors (pdf 785 kb) 		Download only
oft 990rev Group licensing regime (August 2011)
Guidance for consumer credit group licence holders and applicants
Guidance for consumer credit group licence holders and applicants (pdf 365 kb) 		Download only
oft1266 OFT consumer guidance on Section 77-79 of the Consumer Credit Act (October 2010)
Need information about your credit or hire agreement?
OFT 1266 OFT Consumer guidance on S77-79 of the CCA (pdf 82 kb) 		Download only
oft1272 Guidance on sections 77, 78 and 79 of the Consumer Credit Act 1974 (October 2010)
The duty to give information to debtors and the consequences of non-compliance on the enforceability of the agreement
OFT1272: Guidance on sections 77, 78 and 79 of the Consumer Credit Act 1974  (pdf 330 kb) 		Download only
oft140/oft140A Consumer credit - regulated and exempt agreements (December 2008) and update (November 2010)
These guidance notes provide a brief overview of regulated and exempt agreements under the Consumer Credit Act 1974 - OTF140 was produced prior to the Consumer Credit Directive, OFT140A after.
Consumer credit - regulated and exempt agreements (pdf 310 kb) Consumer credit - regulated and exempt agreements (November 2010) (pdf 328 kb) 		Download only
oft1105 Second charge lending – OFT guidance for lenders and brokers (July 2009)
Second charge lending involves consumers with an existing mortgage taking out further personal borrowing which is secured against the equity in their home. Firms offering or arranging such loans must be licensed by the OFT.
Second charge lending - OFT guidance for lenders and brokers (pdf 105 kb) 		Download only
oft 016 Credit advertising (August 2008)
Explains the rules that govern the content of advertisements for credit or hire products.
Credit advertising  (pdf 449 kb) 		Download only
oft 147 Do you need a credit licence? (July 2008)
Who needs a consumer credit licence and how to apply for one.
Do you need a credit licence? (pdf 205 kb)
oft 1002 Consumer Credit Act 1974 - Post-contract information requirements (July 2008)
Guidance on post-contract information requirements
Consumer Credit Act 1974 Post-contract information requirements (pdf 391 kb) 		Download only
oft 661 Licensing - your right to make representations (September 2009)
A guidance note to help you decide what to do if you receive a Notice under the Consumer Credit Act 1974. Also contains a form you can use to respond to the Adjudicator
Consumer Credit Act 1974 (pdf 95 kb) 		Download only
oft 971 Consumer credit licensing (January 2008)
Statement of policy on civil penalties
Consumer credit licensing - Statement of policy on civil penalties (pdf 111 kb) 		Download only
oft 969 Consumer credit licensing (January 2008)
General guidance for licensees and applicants on fitness and requirements
Consumer credit licensing- General guidance for licensees and applicants on fitness and requirements (pdf 262 kb) 		Download only
oft 746 Consumer Credit (Advertisements) Regulations FAQs (September 2005)
Frequently asked questions aimed at helping businesses understand new credit advertising rules.
Consumer credit (advertisements) regulations FAQs (pdf 748 kb) 		Download only


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