Consumer Credit Act 1974 (c. 39)

Part VII U.K. Default and Termination

Further restriction of remedies for default U.K.

93 Interest not to be increased on default. U.K.

The debtor under a regulated consumer credit agreement shall not be obliged to pay interest on sums which, in breach of the agreement, are unpaid by him at a rate—

(a) where the total charge for credit includes an item in respect of interest, exceeding the rate of that interest, or

(b) in any other case, exceeding what would be the rate of the total charge for credit if any items included in the total charge for credit by virtue of section 20(2) were disregarded.