More costly credit and more difficulty in obtaining credit for those with adverse credit histories could be the outcome of new rules coming into force on 31 October with changes to the Consumer Credit Act, warns consultant Datamonitor.
The view contrasts the Department of Trade and Industry's announcement the new rules will provide consumers with "a fairer system". Consumer minister Gerry Sutcliffe is quoted by the departement as saying: "These reforms ensure that at every step from the moment a consumer considers using credit...
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