CONSUMER CREDIT
March 1st, 2004
BY KEITH NUTHALLCONSUMERS may be given less time in which to cancel a credit agreement without offering a reason, if amendments to a new European Union directive are approved. The European Parliament's legal affairs committee has proposed shortening the mandatory grace-period written into the legislation from 14 to seven days. That said, the committee has also proposed that consumers withdrawing an agreement to buy goods should no longer be bound by a linked consumer credit deal. The amendments would also confirm the right of consumers to refuse credit payments ...
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