FCA Introduces new Arrears Information Sheets

The Financial Conduct Authority (FCA) has introduced a new version of their Arrears Information Sheet, which, pursuant to s.86A Consumer Credit Act 1974, must be provided by lenders when sending a borrower notice of sums in arrears under ss.86B and 86C of the Act.

The new information sheets must be used from 14th April 2017 (and must not be used before). Lenders are warned to ensure that they use the correct version of the information form, particularly as a previous version, which had been scheduled to be introduced earlier in the year, was withdrawn because it contained an error. 

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