The FCA has published, to be used effective 27 July 2018, revised Information Sheets under s86A of the Consumer Credit Act for notifying customers they are in default or arrears. The updated versions have a wider range of debt advice providers, ostensibly for better geographic coverage, but otherwise appear to be unamended.
The FCA has announced on its webpage that it has updated consumer credit information sheets on the following areas: Arrears (No 001) Default (No 002) High-cost short-term loans (No 003) High-cost short-terms loans, peer-to-peer lenders (No 004) Arrears, peer-to-peer lending (No 005) Firms will be expected to use the new versions from 18 January ... Information sheet - Default Money Advice Service For free, unbiased and easy-to-access money tools, information and advice, visit www.moneyadviceservice.org.uk or phone 0800 138 7777 to speak to a Money Adviser. Money Advice Scotland If you live in Scotland, phone 0141 572 0237 or visit www.moneyadvicescotland.org.uk to find contact
The Financial Conduct Authority (FCA) has introduced a new version of their Arrears Information Sheet, which, pursuant to s.86A Consumer Credit Act 1974, must be provided by lenders when sending a borrower notice of sums in arrears under ss.86B and 86C of the Act. A firm must accompany the notice required by CONC 7.17.4 R with a copy of the current arrears information sheet under section 86A of the CCA with the following modifications: (-a) for the heading “Arrears” substitute “Arrears – peer-to-peer lending”;1 (a) for the bullet point headed “Work out how much money you owe” substitute: Information sheet No. 001 Arrears Financial onduct Authority 2 Help and advice You can contact the following not-for-profit organisations for free, confidential and impartial debt advice, or for details of where to get such advice in your area. Money Advice Service For free, unbiased and easy-to-access money tools, information and advice, visit Jan 18, 2017 · The FCA has published revised consumer credit information sheets to accompany arrears and default notices, which must be used by firms from 14 April… Jan 17, 2017 · The new versions of the sheets take effect three months after publication. Until then, current versions of the information sheets, which were published in January 2014, must be used. View FCA updates consumer credit information sheets, 13 January 2017
FNTC (Finance) Limited has been providing this service and managing a number of in-house loan books for timeshare resorts for over 15 years. Types of Information Sheets. The FCA has issued these 5 new information sheets: Arrears No.001, Default No.002, High-cost short-term loans No.003, High-cost short-term loans No.004, and; Arrears – Peer-to-peer lending No.005. Firms will need to ensure the correct information sheet is sent with notices of sums in arrears from 27 July 2018.