For consumer credit businesses, terms and conditions must comply with the Consumer Credit Act 1974, the FCA Consumer Credit sourcebook (CONC), the Consumer Duty, and general consumer protection law. They need to be written in plain language, include all required disclosure obligations, and be tailored to the firm’s specific products and customer base.
We draft and review terms and conditions for consumer credit businesses, covering disclosure obligations, the rights and responsibilities of both parties, interest and charges, early repayment provisions, default and arrears treatment, and complaints handling.