This section applies where a default sum becomes payable under a regulated agreement by the debtor or hirer.
The debtor or hirer shall only be liable to pay interest in connection with the default sum if the interest is simple interest.
Section 86F: Interest on default sums
Consumer Credit Act 1974 · 1974 c. 39View on legislation.gov.uk
Part VI: Matters Arising During Currency of Credit or Hire Agreements
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