Consumer Information

Consumer Credit

We are responsible for enforcing the Consumer Credit Act 1974.

The Act regulates consumer credit and consumer hire agreements for amounts up to £25,000. It lays down rules covering:

• the form and content of agreements

• credit advertising

• the method of calculating the Annual Percentage Rate (APR) of the Total Charge for Credit

• the procedures to be adopted in the event of default, termination, or early settlement

• extortionate credit bargains

For more information on your rights when buying on credit, advice on entering into a credit agreement, and what to do if things go wrong, see our information leaflet.

We have also drawn up some tips for students including credit dos and don’ts.

See also...

Student guide to credit

Your rights when buying on credit

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