consumer credit

consumer credit
consumer credit n: credit extended by merchants or banks to finance the purchase of consumer goods (as home appliances) or services (as travel or hotel accommodations) compare consumer debt at debt

Merriam-Webster’s Dictionary of Law. . 1996.

consumer credit
lending to a consumer, as opposed to a commercial enterprise. The words have a special significance because of the Consumer Credit Act 1974: 'An Act to establish for the protection of consumers a new system, administered by the Director General of Fair Trading, of licensing and other control of traders concerned with the provision of credit, or the supply of goods on hire or hire-purchase, and their transactions and related matters.' While 'consumer' is defined for the purposes of a consumer contract under the unfair contract terms legislation, there is no such definition on the 1974 Act. It provides controls where the debtor is a natural person or is an individual, including a partnership or unincorporated body of persons not consisting of bodies corporate. The Act is primarily concerned with
(a) the control and regulation of the consumer credit industry by means of a licensing system, together with restriction on the ways of seeking business; and
(b) the greater regulation of the rights of the parties under a consumer credit agreement.

Collins dictionary of law. . 2001.


consumer credit
Short-term loans made to enable people to purchase goods or services primarily for personal, family, or household purposes.

Dictionary from West's Encyclopedia of American Law. 2005.


consumer credit
Short-term loans made to enable people to purchase goods or services primarily for personal, family, or household purposes.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

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Look at other dictionaries:

  • consumer credit — credit extended by a retail store, bank, finance company, or other lender, chiefly for the purchase of consumer goods. [1925 30] * * * Short and intermediate term loans used to finance the purchase of commodities or services for personal… …   Universalium

  • Consumer credit — Credit granted by a firm to consumers for the purchase of goods or services. Also called retail credit. The New York Times Financial Glossary * * * consumer credit consumer credit ➔ credit1 * * * consumer credit UK US noun [U] (also personal… …   Financial and business terms

  • consumer credit — credit a firm grants to consumers for the purchase of goods or services. Also called retail credit. Bloomberg Financial Dictionary * * * consumer credit consumer credit ➔ credit1 * * * consumer credit UK US noun [U] (also persona …   Financial and business terms

  • Consumer Credit — Потребительское кредитование без обеспечения /недвижимостью/ Словарь терминов и сокращений рынка forex, Forex EuroClub …   Финансовый словарь

  • consumer credit — ☆ consumer credit n. credit extended for buying goods and services for one s personal use through installment plans, charge accounts, short term loans, etc …   English World dictionary

  • consumer credit — noun a line of credit extended for personal or household use • Hypernyms: ↑credit line, ↑line of credit, ↑bank line, ↑line, ↑personal credit line, ↑personal line of credit • Hyponyms: ↑ …   Useful english dictionary

  • consumer credit — Short term loans to individuals for purchase of consumer goods and services See also Consumer Credit Code Consumer Credit Protection Act consumer credit sale consumer credit transaction credit card Equal Credit Opportunity Act …   Black's law dictionary

  • consumer credit — Short term loans to individuals for purchase of consumer goods and services See also Consumer Credit Code Consumer Credit Protection Act consumer credit sale consumer credit transaction credit card Equal Credit Opportunity Act …   Black's law dictionary

  • Consumer Credit — A debt that someone incurs for the purpose of purchasing a good or service. This includes purchases made on credit cards, lines of credit and some loans. Also referred to as consumer debt . Consumer credit is basically the amount of credit used… …   Investment dictionary

  • consumer credit — Short term loans to the public for the purchase of goods. The most common forms of consumer credit are credit accounts at retail outlets, personal loans from banks and finance houses, hire purchase, and credit cards Since the Consumer Credit Act… …   Big dictionary of business and management

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