Welcome to CheckerBy completing a simple questionnaire you can find out whether your Credit Agreement complies with the law – It may be invalid and you might be entitled to compensation. |
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| The law |
| Checker system |
| Copy agreement from lender |
| Complain to your lender |
| Alternative Dispute Resolution |
| Court of Appeal cases |
| Reference library |
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Quote made by Lord Justice Clarke (McGinn v Grangeworth Scurities Limited (2002)) "These appeals raise a number of issues under the Consumer Credit Act 1974 ("the Act") which has recently provided so much work for the Court. Like others, this case demonstrates the unsatisfactory state of the law at present. Simplification of a part of the law which is intended to protect consumers is surely long overdue so as to make it comprehensible to the layman and lawyer alike. At present it is certainly not comprehensible to the former and is scarcely comprehensible to the latter." |
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The law relating to consumer credit has undergone a radical reform by virtue of the Consumer Credit Act 2006. This Act changes the way in which the Consumer Credit Act 1974 operates, and is generally being brought into force. A significant proportion of the Act's operations have been brought into force pursuant to the Consumer Credit Act 2006 (Commencement number 2 and Transitional Provisions and Savings) Order 2007, and a number of important provisions have come into force on 6th April 2006. Further, the Consumer Credit (Agreements) Regulations 1983, have been substantially amended by the Consumer Credit (Agreement) (Amendment) Regulations 2004, which came into force 31st May 2005 and apply to agreements entered into after 31st May 2005 (except for regulated agreements which were given to the debtor for signature before 31st May 2005 but which were not made by that date - provided that they became executed agreements not later than three months after 31st May 2005) It is therefore apparent that the precise date of the agreement is key to determining the appropriate regulatory regime for the Checker system. Exempt agreements The following agreements are currently exempt from the Consumer Credit Act 1974:
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