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Consumer Credit Act 1974

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Changes over time for: Section 97A

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No versions valid at: 01/02/1991

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Point in time view as at 01/02/1991. This version of this provision is not valid for this point in time. Help about Status

Changes to legislation:

Consumer Credit Act 1974, Section 97A is up to date with all changes known to be in force on or before 08 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Valid from 01/02/2011

[F197ADuty to give information on partial repaymentU.K.

(1)Where a debtor under a regulated consumer credit agreement—

(a)makes a payment by virtue of which part of his indebtedness is discharged under section 94, and

(b)at the same time or subsequently requests the creditor to give him a statement concerning the effect of the payment on the debtor's indebtedness,

the creditor must give the statement to the debtor before the end of the period of seven working days beginning with the day following that on which the creditor receives the request.

(2)The statement shall be in writing and shall contain the following particulars—

(a)a description of the agreement sufficient to identify it,

(b)the name, postal address and, where appropriate, any other address of the creditor and the debtor,

(c)where the creditor is claiming an amount under section 95A(2), that amount and the method used to determine it,

(d)the amount of any rebate to which the debtor is entitled—

(i)under the agreement, or

(ii)by virtue of section 95 where that is higher,

(e)where the amount of the rebate mentioned in paragraph (d)(ii) is given, a statement indicating that this amount has been calculated having regard to the Consumer Credit (Early Settlement) Regulations 2004,

(f)where the debtor is not entitled to any rebate, a statement to this effect,

(g)any change to—

(i)the number, timing or amount of repayments to be made under the agreement, or

(ii)the duration of the agreement,

which results from the partial discharge of the indebtedness of the debtor, and

(h)the amount of the debtor's indebtedness remaining under the agreement at the date the creditor gives the statement.]

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