Related provisions for CONC 5A.3.16
1 - 7 of 7 items.
A firm must not impose one or more charges, on a borrower under an agreement for high-cost short-term credit, that, alone or in combination with any other charge under the agreement or a connected agreement, exceed or are capable of exceeding 0.8% of the amount of credit provided under the agreement calculated per day from the date on which the borrower draws down the credit until the date on which repayment of the credit is due under the agreement, but if the date of repayment
For the purpose of the calculation of the initial cost cap, if there is an early repayment by the borrower of an amount of credit repayable under an agreement for high-cost short-term credit (including where that early repayment is financed by a replacement agreement), the amount of credit outstanding on the days that follow the early repayment is not reduced to reflect the amount of the early repayment. There is no effect, however, on the right of a borrower to any rebate applicable
For the purpose of the calculation of the initial cost cap, if there is an early repayment by the borrower of an amount of credit repayable under an agreement for high-cost short-term credit (including where that early repayment is financed by a replacement agreement), the amount of credit outstanding on the days that follow the early repayment is not reduced to reflect the amount of the early repayment. There is no effect, however, on the right of a borrower to any rebate applicable
(1) Subject to (3) to (5), a firm must not request a payment service provider to make a payment, under a continuous payment authority, to collect (in whole or in part) a sum due for high-cost short-term credit if it has done so in connection with the same agreement for high-cost short-term credit on two previous occasions and those previous payment requests have been refused.(2) For the purposes of (1) and (3):(a) if high-cost short-term credit has been refinanced, except in exercise
(1) Where:(a) high-cost short-term credit provides for repayment in instalments; and(b) a firm has on two previous occasions made a payment request, under a continuous payment authority, to collect (in whole or in part) the same instalment due under the agreement, which have been refused;subject to (3) and (4), the firm must not make a further payment request under the continuous payment authority to collect that instalment.(2) The firm must not make a further payment request
(1) Subject to (2), a firm must not request a payment service provider to make a payment under a continuous payment authority to collect a sum due for high-cost short-term credit if that sum is less than the full sum due at the time the request is made.(2) Where a firm:(a) following contact with a customer, refinances the agreement in accordance with CONC 6.7.17 R to CONC 6.7.23 R by granting an indulgence which allows for one or more repayment of a reduced amount under a repayment