Part VI U.K. Matters Arising During Currency of Credit or Hire AgreementsF1 F2 F3

Textual Amendments

F1 S. 77A inserted (16.6.2006 for certain purposes and otherwise 1.10.2008) by Consumer Credit Act 2006 (c. 14), ss. {6}, 71(2) (with Sch. 3 para. 2); S.I. 2006/1508, art. 3(1), Sch. 1; S.I. 2007/3300, art. 3(3), Sch. 3

F2 S. 86A and preceding cross-heading inserted (31.1.2007) by Consumer Credit Act 2006 (c. 14), ss. {8}, 71(2) (with Sch. 3 para. 5); S.I. 2007/123, art. 3(1), Sch. 1

F3 S. 86B and preceding cross-heading inserted (16.6.2006 for certain purposes and otherwise 1.10.2008) by Consumer Credit Act 2006 (c. 14), ss. {9}, 71(2) (with Sch. 3 para. 6); S.I. 2006/1508, art. 3(1), Sch. 1; S.I. 2007/3300, art. 3(3), Sch. 3

[F3 Sums in arrears and default sums U.K.

[F4 86FInterest on default sums U.K.

(1) This section applies where a default sum becomes payable under a regulated agreement by the debtor or hirer.

(2) The debtor or hirer shall only be liable to pay interest in connection with the default sum if the interest is simple interest.]]

Textual Amendments

F4 S. 86F inserted (1.10.2008) by Consumer Credit Act 2006 (c. 14), ss. {13}, 71(2) (with Sch. 3 para. 9); S.I. 2007/3300, art. 3(3), Sch. 3