Mums Finance

With all the torrential downpours hitting the United Kingdom right now I guess it would be safe to say that summer is drawing to it’s close. So how was your summer for you then…?

If you were lucky enough to go away on holiday to one of those hot spots in Spain, France, Portugal or whatever, then it is likely that you did not get as much rest and relaxation as you should have.

Sunburnt…? too much wine and sangria…? too many late nights or maybe just the stress that goes with flying with RyanAir has left you feeling a bit more tense than before you set off making you feel as though you should have packed your own blood pressure monitor . Maybe even a dodgy prawn in that paella is still giving you some jip…

Our immune systems tend to slow down in the winter months so it would be ideal, with winter around the corner, to do a stocktake now of anything that might be troubling you medically.  Preparing your body for those inevitable colds and flu’s during the cold weather should start now; many elderly folk make it a habit to visit the doctor on a regular basis just to ensure everything is okay. 

Make a list of what’s bothering you and see the doc; up your intake of vitamins and fresh fruit and veg and go easy on the booze for a while. Your liver likes a rest now and then.          

Popularity: 12% [?]

If you are a consumer who uses a credit card then if there is one piece of legislation you need to be familiar with it has to be Section 75 of the Consumer Credit Act.

Basically this Act provides protection and recourse to a consumer by recognising that the credit provider is of equal liability with the provider of goods and services when fraud, breach of contract or misrepresentation occurs.

This Act does not, however, entitle the consumer to a refund on just any purchase made with credit – for the Act to apply these conditions must be satisfied:

• The cash price of the goods or services bought by the consumer must be at least £100 and no more than £30,000.
• The amount of credit provided to the consumer towards the purchase must not exceed £25,000, and must have been provided to an ‘individual’ (which includes sole traders, small partnerships and unincorporated businesses, as well as ordinary consumers).
• The provider of credit must be in the business of lending money, and the credit agreement must have been made in the course of that business.
• The credit must have been provided to the consumer under pre-existing arrangements between the provider of credit and the supplier of the goods and services.

The Act was amended in 2006 and will be fully amended by October 2008.

From 1 October 2008, lenders will be required to provide borrowers with much more information about their accounts, such as an annual statement and regular notices when consumers fall into arrears or incur a default sum, and debt administration service providers and credit information (repair) service providers will need a consumer credit licence as these services will be regulated by the OFT.

Popularity: 17% [?]