FCA publishes final guidance on default notices

The FCA has published its final guidance on the circumstances when it is necessary to serve a default notice on a guarantor before taking payment from them.  Whilst the guidance is primarily aimed at guarantor loans, it casts light on the FCA’s views on the meaning of “enforcement” in the Consumer Credit Act 1974, and may therefore have relevance to all creditors.

The full guidance can be viewed here.