Amendments to Schedules 1, 2 and 3 to the Consumer Credit (Enforcement, Default and Termination Notices) Regulations 1983
Amendments to Schedule 1
1 Schedule 1 is amended as follows.
(1)2 In paragraph 6, for the wording following “time order—”, substitute—
“If you have difficulty in paying any sum owed under this agreement, you can apply to the court for an order to give you [or a surety] more time to pay any sum owed or take any other action required by this notice. The Government’s Money Advice Service can help you explore this option.
[A surety, typically a guarantor, is someone who provided security to help ensure any amount you owe under this agreement is repaid.]”
(1) This statement must immediately follow the statement specified in paragraph 6.
(2) The creditor or owner must omit the final sentence in square brackets where either regulation 2(6A)(a)(i) or (ii) has been exercised.”
(2) Paragraph 6 is renumbered as paragraph 7.
(1)3 In paragraph 7, for the wording following “form—”, substitute—
“If you are not sure what to do, you should get help as soon as possible. The Government’s Money Advice Service can help you find free debt advice and support.”
(2) Paragraph 7 is renumbered as paragraph 6.
4 For paragraph 8, for the wording following “form—”, substitute—
“Important –you should read this carefully
(1) This statement must be placed at the top of the notice.
(2) This statement must be given prominence in accordance with regulation 2(5).”
Amendments to Schedule 2
1 For Schedule 2, substitute—
FORM OF DEFAULT NOTICE BEFORE A CREDITOR OR OWNER CAN BECOME ENTITLED, BY REASON OF ANY BREACH BY THE DEBTOR OR HIRER OF A REGULATED AGREEMENT, TO TERMINATE THE AGREEMENT, DEMAND EARLIER PAYMENT OF ANY SUM, RECOVER POSSESSION OF ANY GOODS OR LAND, TREAT ANY RIGHT CONFERRED ON THE DEBTOR OR HIRER BY THE AGREEMENT AS TERMINATED, RESTRICTED OR DEFERRED OR ENFORCE ANY SECURITY
1. Details of agreement
A description of the agreement sufficient to identify it.
2. Parties to agreement
(1) The name and a postal address of the creditor or owner.
(2) The name and a postal address of the debtor or hirer.
3. Details of breach of agreement and action required to remedy, or pay compensation for, the breach
A specification of—
(a) the provision of the agreement alleged to have been breached; and
(b) the nature of the alleged breach of the agreement, specifying clearly the matters complained of; and either
(c) if the breach is capable of remedy, what action is required to remedy it and the date, being a date not less than fourteen days after the date of service of the notice, before which that action is to be taken; or
(d) if the breach is not capable of remedy, the sum (if any) required to be paid as compensation for the breach and the date, being a date not less than fourteen days after the date of service of the notice, before which it is to be paid.
4. Action by the creditor or owner to be ineffective if breach remedied or compensation paid
Where any action is specified under paragraph 3(c) or (d) as required to be taken, a statement that the provision for the taking of any action by the creditor or owner such as is mentioned in paragraph 6 will be ineffective if the breach is duly remedied or the compensation is duly paid in the following form—
“If the action required by this notice is takenbefore the date shown, the action below will not be taken in respect of the breach.”
(1) This statement must follow the specification under paragraph 3(c) or (d) of any action required to be taken.
(2) This statement must be followed by the statement required by paragraph 5.
(3) The wording in bold print must be given prominence in accordance with regulation 2(5).
5. Consequences of failure to comply with default notice
Where any action is specified under paragraph 3(c) or (d) as required to be taken, a statement indicating the consequences of the failure by the debtor or hirer to comply with the default notice in the following form—
“If you donottake the action...