Credit contracts: Hire purchase, loans and other credit
The legislation that covers credit contracts
The Credit Contracts and Consumer Finance Act 2003 (the CCCF Act) protects consumers who have entered into a credit contract. Credit contracts include:
- hire purchases (called “credit sales” in the Act)
- secured loan contracts (this is where you provide some of your property, such as your car, as security to the lender for the loan), and
- unsecured loan contracts.