consumer credit agreement

consumer credit agreement

a consumer credit agreement is an agreement under which credit is extended to an individual. Those agreements that are regulated agreements cover extensions of credit up to a statutory limit. These include credit sales, hire-purchase, secured and unsecured loans; they may be bipartite debtor-creditor agreements or tripartite debtor-creditor-supplier agreements.
References in periodicals archive ?
Global Banking News-January 23, 2015--Synchrony Financial and BP announce consumer credit agreement
When buying from a catalogue, people don't realise they are signing a consumer credit agreement.
The system works on the basis that you can have your goods immediately provided that you sign a consumer credit agreement and a direct debit mandate to your bank.
In the future, new WF consumer credit agreement language will explain the new benefit.
And Jimmy Hughes of Trading Standards said the best hope for those caught in such a situation is if they've paid by credit card or through a consumer credit agreement arranged by the shop.
As regards joint and several liability, MEPs are demanding that, if the consumer has withdrawn his acceptance of an agreement for the supply of goods or services, he shall no longer be bound by his acceptance of any consumer credit agreement linked thereto.
Interpretation of Directive 87/102/EEC for the approximation of the laws, regulations and administrative provisions of the Member States concerning consumer credit and Directive 90/88/EEC amending Directive 87/102/EEC - Obligation of prior information of consumer regarding conditions for extension of credit by stating in writing the current annual percentage charge - Option or obligation for the national court to raise, without any time-limit, at the request of the consumer or of its own motion, the illegal nature of a consumer credit agreement.
The adoption of a directive of the European Parliament and the Council 2014/17/EU of 4 February 2014 on consumer credit agreements relating to residential property and amending Directive 2008/48/ EC and 2013/36/EU and Regulation (EU) No 1093/2010 (Official Journal of the European Union from 28 February 2014) results from the crucial importance of mortgage credit markets for the functioning of the financial system of the European Union and the EU economy as a whole.
The attorneys general also said the proposal fails to address predatory consumer credit agreements that are created to avoid the protections of the MLA.
Stockton-based Personal Finance Claims - which advises clients on consumer credit agreements such as mortgage, secured loan and motor finance contracts - recently created 18 jobs and aims to recruit further in the coming months.
The European Parliament's Committee on Internal Market and Consumer Protection approved, on 10 December, a report by Kurt Lechner (EPP-ED, Germany) relating to consumer credit agreements.
But the Court of Appeal said that connected lender liability under Section 75 attached to all transactions entered into using credit cards issued under consumer credit agreements regulated by the 1974 Act - whether they were entered into in the UK or elsewhere.

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