Distance Marketing regulations apply when you enter into a remote credit contract – for example by phone or online. Part IV of the Act also applies to ancillary credit transactions in advertising, advertising and offers, as well as to business research. The law also limited the brokerage fees that credit brokers can collect. According to Section 155, if the brokerage does not lead the client to enter into an agreement with a creditor within 6 months of the work, the full fee (deducted from the sum of 1 euro) is refunded to the client. The Director General indicated at the time that companies that did not comply with Section 155 would be denied a licence. These provisions came into effect on April 1, 1977.  Licensees are required to notify the Director General when a change is made to the office of a licensee, a non-corporate organization or a partnership. This must be done within 21 days of the change appearing. Details of the new licences are published in the Consumer Credit Bulletin, the weekly newspaper of the Office of Fair Trading. A licence lasts 3 years and begins on the date indicated on the licence, not the date of issue. A person who engages in activities requiring a licence when he or she does not have a person commits a criminal offence. In addition, the agreements he has entered into are deemed unenforceable unless the Director General enters into direct force.  Advertising rules require that pre-contract information be provided in a timely manner prior to the conclusion of the borrower`s contract.
The information must be clear and readable and the borrower must be able to take it into account and buy it if he wishes. In most cases, the information must be provided in a standard format, the “Pre-Contract Credit Information” form, to improve comparability and consumer understanding. In the event of an overdraft, another standard form may be used, but it is not mandatory. If this form is not used, all information should be as important. Part V contains several provisions regarding the termination of a regulated contract and the exit of a prospective regulated contract. These are similar to those of the Hire-Purchase Act of 1965, but cover all consumer credit and consumer lease contracts, not the leases and installments previously covered. The exit of a forward-looking agreement is primarily in the common law; a party may withdraw from a prospective agreement at any time before becoming a non-binding contract. It may revoke the agreement provided by notification to the other party, the law allowing the creditor to use the credit brokers for this purpose.  Debt advice is advice to debtors or tenants in the event of debt liquidation under consumer credit or consumer leasing contracts. This applies to any debtor advisor, whether it is free legal advice or not; For example, the Citizens` Advisory Office is considered a debt advisor, although its advisors are covered by a group license. Collection companies are covered by similar provisions and are defined as those that take steps to “settle debts due” under consumer credit and consumer leases. Those who “buy” debts and try to recover them are covered by this definition.
 The agreements do not impose the form of the credit contract or the ordering of information.