... regulation which protects the interests of the consumer and as part of Majestic's business operation includes the provision of credit to its consumers it is important to look at the legal protections for consumers of credit. The Consumer Credit Act has been implemented to regulate the provision of credit and within this Act there are numerous protections for the consumer of credit. The Act regulates two types of agreement - consumer credit agreement (CCA) and consumer hire agreement (CHA). A CCA is a personal credit agreement by which the creditor provides the debtor with credit of up to £25,000, however, from April 2008 credit agreements to individuals for non business purposes will be covered without this limit; this is due to the change in amount of lending since the initial Act. Conversely, a CHA is an agreement under which goods are hired, leased, rented or bailed to an individual, which ...

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