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TIME ORDERS A debtor or hirer can apply for a time order: (a) after he has been served with a notice of default; or (b) where the creditor owner starts proceedings to enforce a regulated agreement or any security or to recover possession of any goods or land to which a regulated agreement relates. Notice … Continue reading
EXTORIONATE CREDIT TRANSACTIONS Under sections 137 to 140 may make an application to the county court or in other proceedings to have declared an appropriate credit bargain as an extortionate credit transaction whereupon the court can re-write the agreement so as to be more equitable. Which credit bargains is the court allowed to consider? The … Continue reading
FORMALITIES OF REGULATED CONSUMER CREDIT AGREEMENTS The Consumer Credit Act 1974 seeks to ensure that debtors and hirers are aware of their rights and duties before entering into a regulated agreement and that they are able to furnish themselves with all appropriate information. The means by which these objectives are achieved is the requirement for … Continue reading
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