you pay interest, or in the case of a credit sale (hire-purchase agreement), repossess the goods, or in the case of a secured loan, take possession of the property you listed as security for the loan What information does the creditor have to give me? A consumer credit contract must be in writing and must be signed by both the borrower and the lender. It must include the following information, which is called "initial disclosure": Information about the lender the lender's name and address the amount you're borrowing (in the case of a loan) or the price of the goods (in the case of credit sales/hire-purchase) Information about the interest payable the annual interest rate and the method of charging it the total interest to be paid the length of any interest-free term The payments the amount of each payment the number of payments the total amount you will pay when the first payment is due and how often the payments will be made after that Security interests if it is a secured loan, details of the goods listed as security Other fees and charges all fees and charges other than interest, such as booking or establishment fees, insurance fees, credit check fees, and security valuation fees default fees (that is, fees you will have to pay if you don't keep up your payments) fees you may be charged if you pay off the goods or loan early Information about your rights a statement of your right to cancel the