What is the European Consumer Credit Directive?

Ligtbox Caption Text
Answer Text

What is the European Consumer Credit Directive?

The European Consumer Credit Directive (ECCD) – which may also be referred to as the Consumer Credit Directive (CCD) – was brought in across Europe to establish common consumer credit practices. From a UK perspective, the Consumer Credit Act was amended as a result of the Directive. 

Effective from the 1st February 2011, the ECCD will apply to the following:

• Customers who purchase vehicles through Hire Purchase and Agility, who are either
• Private Individuals borrowing up to and including £60,260, or
• Small Businesses (Sole Traders and Partnerships of 3 or less) borrowing up to and including £25,000 where a business user exemption has been signed. 

For finance agreements above this limit and regulated leases, the existing Consumer Credit Act arrangements continue to apply unchanged.

Youtube Video ID
Button type standard
Primary Button Text Primary Button Target
Secondary Button Text Secondary Button Target
Additional answer Text

Lorem Ipsum