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How am I protected if I take out a personal loan?
All reputable lenders are licensed under the Consumer Credit Act 1974. This means that the
lender must abide by strict rules that control how money is lent. The terms of this act apply
to all loans up to a value of £25,000.
Before any loan can be completed you will be asked to sign a credit agreement.
Like any legal document you are advised to read this agreement very carefully to make
sure that you understand all of your obligations to the lender. Remember you will be
required to comply with the terms of this agreement.
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