Your opinions: Any thoughts on implementation of the Consumer Credit Directive?

the broker forum

Allan Gambles: Now that Biba has posted some guidance notes on its website, the implications of this new legislation are quite worrying in terms of changes we may now have to introduce very quickly for customers who pay us by short-term instalments.

In addition to third-party premium finance we also offer customers the facility to pay us by our in-house instalment scheme. Typically this will require a deposit followed by one or two monthly payments so the whole debt is cleared in 90 days maximum