If things go wrong
Other legal protections when you get credit
Automatic guarantees (Consumer Guarantees Act)
Consumer credit contracts come under the definition of “services” under the Consumer Guarantees Act 1993, and therefore lenders must comply with the relevant guarantees under this Act (see “Automatic guarantees when buying from a business” in the “Consumer protection” chapter).
Protection against misleading conduct (Fair Trading Act)
Lenders must comply with the Fair Trading Act 1986 and therefore aren’t allowed to mislead or deceive debtors about loans and their rights related to them (see “Protections against misleading or unfair trading” in the “Consumer protection” chapter).