The FCA has published revised consumer credit information sheets to accompany arrears and default notices, which must be used by firms from 14 April 2017. High cost short term loan and peer-to-peer information sheets have also been revised. Until then, firms must continue to use the current versions which have been in force since 2014.
In late December 2016, the FCA withdrew the revised versions that firms had been due to start using today, 18 January 2017, due to a production error/
A link to the new information sheets is here.
Information sheets are intended to help cunsumers by telling them about their rights and responsibilities and where they can get help. The correct information sheet must be included with arrears and default notices and a failure to comply means firms cannot charge interest or default sums or take steps to enforce the credit agreement.