COVID19 – Further Consumer Credit Debt Moratorium
Following last week’s moratorium imposed by the Financial Conduct Authority in relation to credit card debts, overdrafts and personal loans, the FCA is imposing a similar moratorium on hire-purchase (annoyingly referred to by the trendy term ‘rent-to-own’), high-cost short-term credit (payday loans), buy-now-pay-later deals (BNPL) and pawn agreements.
Read more in this alerter by Richard Mawrey QC
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