Consumer Credit Act

The Consumer Credit Act is a UK law designed to protect individuals who borrow money or use credit. It covers consumer loans, credit cards, and hire purchase agreements. The Act ensures that credit providers must give clear information about terms, costs, and interest rates, enabling consumers to make informed decisions. It also supports rights such as the ability to challenge unfair charges and mis-sold financial products. Overall, the Act aims to promote fairness and transparency in consumer credit, helping to prevent exploitation and encouraging responsible lending.