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Revised FCA consumer credit information sheets

The FCA has published revised consumer credit information sheets to accompany arrears and default notices, which must be used by funders from 14 April 2017. Until then, the current versions (which have been in force since 2014) must be used after the initial draft of the new versions intended to come into effect this January were found to be defective and had to be withdrawn.

The correct information sheet must be included with arrears and default notices and a failure to comply means funders cannot charge interest or default sums or take steps to enforce the regulated agreement.

The new sheets are available here.

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