Part VII

Default and Termination

Early payment by debtor

Duty to give information on partial repayment
97A
1
Where a debtor under a regulated consumer credit agreement—
a
makes a payment by virtue of which part of his indebtedness is discharged under section 94, and
b
at the same time or subsequently requests the creditor to give him a statement concerning the effect of the payment on the debtor's indebtedness,
the creditor must give the statement to the debtor before the end of the period of seven working days beginning with the day following that on which the creditor receives the request.
2
The statement shall be in writing and shall contain the following particulars—
a
a description of the agreement sufficient to identify it,
b
the name, postal address and, where appropriate, any other address of the creditor and the debtor,
c
where the creditor is claiming an amount under section 95A(2)
or section 95B(2)
, that amount and the method used to determine it,
d
the amount of any rebate to which the debtor is entitled—
i
under the agreement, or
ii
by virtue of section 95 where that is higher,
e
where the amount of the rebate mentioned in paragraph (d)(ii) is given, a statement indicating that this amount has been calculated having regard to the Consumer Credit (Early Settlement) Regulations 2004,
f
where the debtor is not entitled to any rebate, a statement to this effect,
g
any change to—
i
the number, timing or amount of repayments to be made under the agreement, or
ii
the duration of the agreement,
which results from the partial discharge of the indebtedness of the debtor, and
h
the amount of the debtor's indebtedness remaining under the agreement at the date the creditor gives the statement.
3
This section does not apply to a regulated deferred payment credit agreement.
S. 97A inserted (1.2.2011) by The Consumer Credit (EU Directive) Regulations 2010 (S.I. 2010/1010), regs. 34, 99(1) (with regs. 100, 101)
Words in s. 97A(2)(c) inserted (E.W.S.) (21.3.2012 for specified purposes, 28.1.2013 in so far as not already in force) by Energy Act 2011 (c. 16), ss. 29(4), 121(1); S.I. 2012/873, art. 3(1)(d)(2); S.I. 2013/125, art. 2(d)
Ss. 94-97A excluded (E.W.S.) (15.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 12(2) (with art. 1(3))
S. 97A(3) inserted (15.7.2025 for specified purposes) by The Financial Services and Markets Act 2000 (Regulated Activities etc.) (Amendment) Order 2025 (S.I. 2025/859), arts. 1(2)(3), 2(17)