News
FLA welcomes clarity on unenforceable credit agreements
Responding to new draft guidance on unenforceable credit agreements published by the Office of Fair Trading, Fiona Hoyle, Head of Consumer Finance at the Finance & Leasing Association, said:
“This is another welcome step to avoid consumers being misled into thinking that their credit agreement is unenforceable. There has been an alarming rise in the number of companies claiming to be able to get debts written off and the OFT clarification is helpful to both consumers and lenders.”
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Note to editors:
The FLA is the leading trade association for the asset, consumer and motor finance sectors in the UK, covering secured and unsecured loans and credit and store card providers. In 2008 FLA members provided £60 billion to the consumer finance sector, representing almost 30% of all unsecured lending in the UK in 2008.
For further media information, please contact:
Russell Hamblin-Boone, FLA
T: 020 7420 9656 E: russell.hamblin-boone@fla.org.uk
M: 07810 374110
Helen Saxon, FLA
T: 020 7420 9664 E: helen.saxon@fla.org.uk
M: 07918 766 993