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23 July 2021

The FCA published Consultation Paper 21/16 (CP21/16) setting out that it has published new versions of arrears and default information sheets which lenders under regulated credit agreements must sent to customers in arrears or default.

It is to be noted that the new arrears and default information sheets take effect on 25th October 2021. The FCA aims for the new information sheets to provide more targeted and useful help to customers, particularly those with mental wellbeing issues.

We recommend that lenders take steps to implement the usage of the new arrears and default information sheets.

By Ian Beardmore

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