The Consumer Credit Act - Sample Letters

To ask about settling a loan early:


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(Your address)


(Creditor's name and address)


Date


Dear


Request for early settlement figure – credit agreement (no. or reference)


On (date), I took out the above agreement with you for the purpose of (add details). I now wish to settle the agreement. I would be grateful if you could send me a settlement figure for the above loan, in accordance with section 97(1) of the Consumer Credit Act 1974 and the Consumer Credit (Early Settlement) Regulations 2004.


I look forward to hearing from you no later than 12 working days from receipt of this letter.


Yours sincerely
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To report a problem with something you bought with a credit card:


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(Your address)


(Credit provider's name and address)


(Date)


Dear


Reference: Goods purchased using credit card no. (xxx)


On (date), I bought (item) from (retailer) using the above card.


When I accepted delivery of the (item), it proved to be (faulty) (not as described) (not fit for purpose) because (explain problem).


I have tried unsuccessfully to resolve this dispute with the retailer and am now looking to you to pay me (damages) [set out what the sum you are seeking e.g. the cost of repairs] (provide a refund) (if you are still in time to reject the goods).


I base my claim on section 75 of the Consumer Credit Act 1974 which makes you jointly and severally liable for any breaches committed by the retailer.


I would be grateful if you would respond within 14 days. If I hear nothing further from you in that time, I shall have no alternative but to bring proceedings against you through the small claims track of the county court system.


Yours sincerely
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