You can then contact the agency or agencies to get a copy of your credit file that they have to provide for 2 euros. Section 75 of the Consumer Credit Act provides additional protection for credit card purchases that cost between $100 and $30,000. In this case, a notification of your withdrawal rights must be included in the copy of the credit contract and sent by mail or email within seven days. This information must be included in a document entitled „Pre-contract information,“ which must be made available to the credit contract itself separately. If you are applying for a credit or credit card, the card company or credit provider can request a credit reference agency to check your credit history and other details, such as .B place where you have lived in recent years. The definition of a regulated credit contract is defined in section 60B of the ROE and is essential to determine whether, depending on the circumstances, you can benefit from Section 75A protection. The price of the item or service must be more than $30,000 and the amount of the loan that the seller has arranged for you must not exceed $60,260. There are several factors to consider in determining whether a credit contract is governed by the Financial Services and Markets Act 2000 (FSMA 2000) and its derivative right, the Consumer Credit Act 1974 (CCA 1974) and its derivative fee, as well as the rules and guidelines of the Financial Conduct Authority Manual (FCA), including its consumer Credit Sourcebook (CONC). There are a large number of detailed exceptions contained in Regulation 2001, SI 2001/544 (RAO) of the Financial Services and Markets Act (Regulated Activities). The exceptions apply based on the nature of the consumer credit contract and its main features.
It is therefore important to understand how the different types of consumer credit contracts that fall under the FSMA 2000, CCA 1974 and subordinate legislation and regulation can be recognized. If the credit provider has not responded to your letter indicating how much you must pay to repay some or all of the credit, or if you think they are trying to charge you too much, let them know that you will refer the matter to the Financial Ombudsman Service because your right to settle the agreement is denied. The termination of a credit contract within the cooling-off period means that the agreement and all related transactions are treated as if they had never been concluded. If you sign a credit contract outside of commercial spaces – such as z.B. on a temporary marketing display stand – you have the right to terminate the contract within the cooling-off period. If you feel that you have been unfairly denied credit, you can ask the credit provider which credit reference agency or agency has used it. Before granting loans or significantly increasing the amount of the loan you have, a creditor must assess your creditworthiness. If you have a claim for non-compliance or misrepresentation against the supplier of goods or services, section 75 gives you the same right against the creditor. The creditor must present you with a tally within seven days of receiving your application. Both parties must sign the agreement and a copy of the agreement must be given to you either at the time of signing or within seven days.