All sections of Consumer Credit Act 1974
1974 c. 39, s.187A
Section 187A — Definition of ‘default sum’
This version in force from 2006-06-16
Snapshot: 2026-08-24
Reproduced from legislation.gov.uk (Crown Copyright, Open Government Licence v3.0). Amendments made after 2026-08-24 may not be reflected — always check the official text .
(1) [F1 In this Act ‘default sum’ means, in relation to the debtor or hirer under a regulated agreement, a sum (other than a sum of interest) which is payable by him under the agreement in connection with a breach of the agreement by him.]
(2) [F1 But a sum is not a default sum in relation to the debtor or hirer simply because, as a consequence of his breach of the agreement, he is required to pay it earlier than he would otherwise have had to.]
Amendment notes
- F1 S. 187A inserted (16.6.2006) by Consumer Credit Act 2006 (c. 14), ss. {18(1)}, 71(2); S.I. 2006/1508, art. 3(1), Sch. 1