The Consumer Credit Act 1974 (c 39) is an act of the British Parliament that significantly reforms the Consumer Credit Act in the United Kingdom. Part III of the Act applies directly to auxiliary credit companies that must obtain a licence. As with standard credit contracts, agreements from a sub-trader not granted to the other party are enforceable only if the Director General of Fair Trade gives a valid order to the agreement. Under Section 149, creditors have an obligation to ensure that the credit brokers they do business are properly licensed. Again, the agreement between the debtor and the creditor is only applicable if the Director General adopts a decision on the matter. These provisions came into effect on July 1, 1978.  In this information sheet on the national debt line, this “National Debtline” fact sheet asks for a template letter requesting your credit contract. This fact sheet also contains a lot of information about CCA agreements and if you have problems with one, talk to National Debtline. In September 1973, the government released a white paper entitled Consumer Credit Reform, in which it announced its intention to implement almost all of the Crowther Committee`s recommendations on consumer credit. The only real differences were an increase in financial protection caps from $2,000 to $5,000 (due to the loss of value of the money) and greater protection for tenants under lease-to-sale contracts.  If you do not receive a copy of your CCA agreement within 12 business days of the application, the creditor will not be able to claim the debt in court until it sends it to you. The position of Director General of Fair Trade was created by the Fair Trading Act of 1973, with the director appointed by the government for a five-year term. Initially, consumer credit was not part of its duties (although the scope of its role included certain elements of consumer credit) and the Crowther Committee recommended the creation of a separate consumer credit commissioner, which was included in the original bill.
However, when the bill was revived after the legislative elections of February 1974, it was decided to entrust tariffs to the Fair Trade Office and, to that end, a separate department (the Department of Consumer Credit) was created within the OFT.  The definition of a regulated credit contract is defined in section 60B of the ROE and is essential in determining whether I am not proposing it. There is a chance that it will last another 6 years and that the paperwork will appear is about zero. It is best to communicate clearly with the creditor in writing. 75. Responsibility of the creditor for offences committed by the supplier. 48. Definition of the exploitation of commercial spaces (regulated agreements). Previous commercial credit laws offered no mechanism for regulating and enforcing the rules, and the Consumer Credit Act licensing system was the first major regulatory process for UK consumer credit legislation.