| 释义 |
ancillary credit business
A business involved in credit brokerage, debt adjusting, debt counselling, debt collecting, or the operation of a credit-reference agency. Credit brokerage includes the effecting of introductions of individuals wishing to obtain credit to persons carrying on a consumer-credit business. Debt adjusting is the process by which a third party negotiates terms for the discharge of a debt due under consumer-credit agreements or consumer-hire agreements with the creditor or owner on behalf of the debtor or hirer. The latter may also pay a third party to take over his obligation to discharge a debt or to undertake any similar activity concerned with its liquidation. Debt counselling is the giving of advice (other than by the original creditor and certain others) to debtors or hirers about the liquidation of debts due under consumer-credit agreements or consumer-hire agreements. In debt collecting, someone other than the creditor takes steps to procure the payment of debts owing to him. A creditor may engage a debt collector for this purpose. A credit-reference agency collects information concerning the financial standing of individuals and supplies this information to those seeking it. The Consumer Credit Act 1974 provides for the licensing of ancillary credit businesses and regulates their activities. The Consumer Credit Act 2006 extended the definition of such businesses to include debt administration. |