Consumer Credit Act, 1995
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Repayment book. |
100.—(1) A moneylender shall, in respect of every moneylending agreement, supply to the borrower a book or document (“repayment book”) in which to record repayments made under the agreement which shall be completed and maintained by the moneylender in accordance with this section and shall be separate from the agreement. | |
(2) (a) A moneylender shall, in respect of a moneylending agreement, enter in a repayment book before supplying it to a borrower the following information: | ||
(i) an agreement number or other reference to enable the agreement to be identified, | ||
(ii) the name and address of the moneylender (as specified on his moneylender's licence), | ||
(iii) the name and address of the borrower, | ||
(iv) the amount of the credit being advanced, | ||
(v) the date the credit is advanced, | ||
(vi) the amount of each repayment instalment, | ||
(vii) the rate of interest to be charged (including the APR expressed as £ per £100 borrowed) on foot of the credit advanced, | ||
(viii) the amount of each collection charge (if any), | ||
(ix) the number of repayment instalments, | ||
(x) the date, or the mode of determining the date, upon which each repayment instalment is payable, | ||
(xi) the total amount payable in respect of the loan, and | ||
(xii) the date of expiry of the loan. | ||
(b) A repayment book shall also include a record of repayments in the form set out in the Sixth Schedule and in which, on the occasion of each repayment, the person to whom the repayment is made shall enter the following: | ||
(i) the date the repayment is made, | ||
(ii) the amount of the repayment, | ||
(iii) the amount still outstanding after deduction of the repayment, and | ||
(iv) the signature of the person to whom the repayment is made. |