If the creditor does not send you a copy of your contract and a statement of account statement within 12 business days, they are not allowed to take further action against you to enforce the agreement in court until they do so. As with pre-contract information, there are rules on what should be in the credit contract document signed by the borrower. This document must also be clear, concise and easy to understand. For advice on the rules you should follow when advertising credit agreements, see rules for advertising credits. If there has never been a written agreement, the creditor cannot send you a copy. If this is the case, the creditor must inform you. But if the creditor has simply lost your agreement, it must provide a “true copy” with the same details. If the credit provider has not responded to your letter indicating how much you must pay to repay some or all of the credit, or if you think they are trying to charge you too much, let them know that you will refer the matter to the Financial Ombudsman Service because your right to settle the agreement is denied. While the credit contract may be terminated, the contract will not be allocated for the item or service itself, so if you have used credits to finance the purchase of a car, you should find another way to pay unless you have another right to terminate that contract. You have 14 days to cancel once you have signed the credit contract. You can check your credit contract to see if it is covered by the Consumer Credit Act. If now, it should be said at the top of the first page. If you wish to terminate the contract, you must pay the financial company the money you still owe to the car within 30 days.
You can then contact the agency or agencies to get a copy of your credit file that they have to provide for 2 euros. This additional protection applies only to credit card purchases and not to debit card purchases. If you take out a loan or receive credits for goods or services, you enter into a credit agreement. You have the right to terminate a credit contract if it is covered by the Consumer Credit Act 1974. You can resign within 14 days, which is often referred to as the “cooling phase.” A borrower may terminate an open agreement at any time, subject to notice that may not exceed one month. As a creditor, you must have a minimum of two months` notice period to terminate the agreement, which must include fair reasons for termination. Some situations are excluded from this notice period, for example to prevent crime. In some cases, the consumer may challenge the agreement in court and bring legal action because the relationship as a whole is unfair to the borrower.