This page provides the introduction of the booklet, and allows you to download the booklet as a Word or Adobe Acrobat version.
Most people are familiar with the idea of paying back credit with interest.
However, other items not normally thought of as interest can also affect the cost of borrowing. These all affect the real cost of the credit. One of the main themes of the Consumer Credit Act 1974 is that there should be truth in lending , particularly in advertisements for credit and written agreements or other documentation. Simply knowing the amount of the credit charges is not usually enough for a borrower to compare one credit deal with another. The time at which the credit and charges have to be repaid affects the rate of the charges being made and how valuable or costly the deal is to the borrower.