Easy credit

As long as easy credit can be linked to the sale of goods, consumers are not fully protected. Credit is any form of financial accommodation in which a person is able to borrow money in return for a promise to repay with interest. Until relatively recently, the use of credit was unknown by the mainstream of society due to the difficulty to obtain and use credit. However, as society evolved, credit became easy to obtain and to use through credit contracts. This led to the creation of new problems to consumers, which made necessary the creation of new laws in order to protect consumers. Although these laws have proved to be effective solving many consumer problems related to easy credit, they do not fully protect consumers.

Contracts.

To get access to credit, consumers agree to enter contracts with credit providers. A contract is “an agreement between two or more parties in which legal obligations are created that law will enforce.” Contracts are covered by the Contracts Review ...