Coming to grips with credit contracts: steps to protect vulnerable borrowers
Researchers from the Brotherhood of St. Laurence and from Griffith University law school sought the views of people living on low incomes about credit regulations, focusing on disclosure and the safety net provisions in the Uniform Consumer Credit Code (UCCC).
They found that current pre-contractual disclosure documents did not help participants to understand many of the important terms of the contract, or to know their rights. Accordingly they recommended improved regulation to protect this important group of consumers.
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Last updated on 16 June 2020