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OFT releases new information sheets

08 February 2010

The Office of Fair Trading (OFT) has released another new arrears and default information sheet.

You can obtain a copy of the new statements at the following link:
http://www.oft.gov.uk/advice_and_resources/resource_base/legal/cca/CCA2006/information

The new information sheets must be used from 23 March 2010. The old sheets must not be used after 23 March 2010.

As a reminder, the arrears information sheet must be sent with the Notice of Sums in Arrears. The default information sheet must be sent with the existing Statutory Default Notice.

There are some changes to the information sheets, with more emphasis being given to the Citizens Advice Bureau as the place to approach for assistance. There are also extra advice bureaus for Scotland and Northern Ireland.

There is also a number for the debtors to call if they would like the notice in a different format. This is a positive step for lenders as it takes away the obligation for lenders to send the notice in different formats if requested.

In June 2010 Shoosmiths will be running seminars on the new Consumer Credit Directive. If you are not already on our mailing list and would like to receive an invitation, please contact Louise Simkin at louise.simkin@shoosmiths.co.uk or on 03700 864192.

Further details will follow shortly.

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