Creditor Debtor Law Outline
Comments (0) Consumer Credit Act 1974?
Many of the detailed provisions of the Act are technical and complex, but its underlying principles are clear. In essence, the Act seeks to control trading malpractices, redress bargaining inequality between consumers and traders and regulate the remedies of default.
Referencing to the above, how the legal framework created by the Consumer Credit Act 1974 protects the debtor while still safeguarding the interests of the creditor?
This is my question. Since I am complete blank in the field of law, will be glad to recieve professional help. I need your answer to include refferencing to chapters and sections of the amended Consumer Credit Act 1974, outlining the main points concerning my question.
Thank you in advance!
The Consumer Credit Act 1974 (CCA) tried to redress some of the malpractices of some traders by standardizing, for example, the size of print in agreements. However, the main consumer protection clauses are Section 56 which deals with negotiations between the parties before the agreement is signed, and Section 75 which gives the consumer some redress in the event of the goods being faulty or sub-standard.
Since full implementation of the Act in 1984 (yes, 10 years later!) various legislation has further amended it and even superceded it, or, in the case of the Unfair Contract Terms Act, supplemented it. I suggest that you either visit your local library to read a copy of the Act, or purchase one from HMSO.
1/14/10: White House Press Briefing
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