2012 Introduction to Consumer Credit - Programme

Programme

Introduction to Consumer Credit

  • What is credit?
  • What is hire?
  • Regulated or unregulated agreements
  • Exemptions
  • Outline regulatory landscape
  • Consumer credit licensing – when do you need one?


Consumer Protection

  • Consumer Credit Act and Directive
  • Other legislation
  • Unfair relationships
  • Irresponsible Lending Guidance
  • OFT Guidance
  • Financial Ombudsman Service


Advertising

  • What is an advert?
  • Advertisement Regulations 2010 and 2004
  • Control of adverts
  • Workshop


Foundations of Consumer Credit

  • Classifications of agreements
  • Contract formalities
  • Form and content of agreement
  • Distance marketing and online requirements
  • Cancellation of contracts
  • Getting it wrong “unenforceability”
  • Workshop – draft agreements


Total Charge for Credit and APR

  • Basic introduction to concepts
  • Total charge for credit regulations


On-going requirements throughout Life of Agreement

  • Early settlement of agreements
  • Section 75
  • Linked credit
  • Assignment of Rights
  • Statements of account
  • Time orders


Statement Requirements

  • S.77 Duty to give information
  • Fixed sum statements
  • Running account statement
  • Default statements
    - Notice of sums in arrears
    - Notice of default sums
    - Default notice
    - Judgment interest notice
    - Enforcement and litigation – a basic introduction
  • Case law

Attached documents