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KembaraXtra – Legal Terms – Personal-Credit Agreement
A personal-credit agreement is an agreement under which a creditor provides credit to an individual debtor.
The concept arises under the Consumer Credit Act 1974.
The agreement may involve loans, instalment payments, or other forms of consumer credit.
It applies only to individuals and not to companies.
Personal-credit agreements are regulated to provide consumer protection and fairness.
A personal-credit agreement is an agreement under which a creditor provides credit to an individual debtor.
The concept arises under the Consumer Credit Act 1974.
The agreement may involve loans, instalment payments, or other forms of consumer credit.
It applies only to individuals and not to companies.
Personal-credit agreements are regulated to provide consumer protection and fairness.
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