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Car finance companies are preparing for CCD

Firms who provide car finance are now preparing for the introduction of the Consumer Credit Directive (CCD), which will be arriving on 1st February.

Firms who provide car finance are now preparing for the introduction of the Consumer Credit Directive (CCD), which will be arriving on 1st February.

Training, paperwork and special changes will all have to be met in accordance to the new directive. The CDD will alter the way in which credit is provided and it enables the consumer to sleep a little more soundly at night due to new rules that protect them further.

Northridge Finance stated that CCD will create “significant changes to the processes” for the affected car finance companies.
Alan Carson, who works for Northridge said: "Initially it's an education process and from then on we all must ensure the new regulations are continuously applied."

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