FLA pleased with OFT’s unenforceable credit agreement guidance

Published on

The Finance & Leasing Association (FLA) has welcomed the Office of Fair Trading’s ‘clarity’ on unenforceable credit agreements.

The regulator began its consolation over consumer credit guidance yesterday, providing new draft guidance on unenforceable credit agreements.

Fiona Hoyle, head of consumer finance at the FLA, said: “This is another welcome step to avoid consumers being misled into thinking that their credit agreement is unenforceable. There has been an alarming rise in the number of companies claiming to be able to get debts written off and the OFT clarification is helpful to both consumers and lenders.”””

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Spring surge in property listings creates market opportunities

The average asking price for newly listed properties has risen by 1.1% (+£3,876) this...

Secure Trust Bank Commercial Finance appoints senior portfolio director

Secure Trust Bank Commercial Finance (STB CF) has announced the appointment of Carl Pykett...

Inflation expectations rise slightly as BoE releases latest survey

Public expectations for inflation and interest rates have edged higher, according to the Bank...

£1 billion lost annually as 50,000 London social homes used fraudulently

A shocking new report reveals that around 50,000 social housing properties in London are...

Other news

Spring surge in property listings creates market opportunities

The average asking price for newly listed properties has risen by 1.1% (+£3,876) this...

Secure Trust Bank Commercial Finance appoints senior portfolio director

Secure Trust Bank Commercial Finance (STB CF) has announced the appointment of Carl Pykett...

Inflation expectations rise slightly as BoE releases latest survey

Public expectations for inflation and interest rates have edged higher, according to the Bank...