Limitation Act 1980: Key legislation that sets time limits (generally 6 years) for bringing claims for debt recovery. Essential for confirming if the debt is still legally enforceable.
Consumer Credit Act 1974: Regulates credit agreements and provides specific requirements for debt collection when the debtor is a consumer, including important consumer protection provisions.
Late Payment of Commercial Debts (Interest) Act 1998: Governs B2B debt situations, establishing statutory interest rates, compensation for late payment, and payment terms.
Unfair Contract Terms Act 1977: Ensures that contract terms are fair and reasonable, particularly important when dealing with consumers.
Common Law Contract Principles: Fundamental principles including consideration, intention to create legal relations, capacity to contract, and offer and acceptance.
Consumer Rights Act 2015: Applies to consumer debt situations, focusing on fairness of terms and transparency requirements in consumer contracts.
Financial Services and Markets Act 2000: Applicable when the debt involves regulated financial services, ensuring compliance with financial regulations.
Data Protection Act 2018 & UK GDPR: Governs the handling of personal information and privacy considerations in debt agreements and communications.
