WebThe key provision is Consumer Credit Act 1974 s.87 which states - “Need for default notice. (1) Service of a notice on the debtor or hirer in accordance with section 88 (a “default notice”) is necessary before the creditor or owner can become entitled, by reason of any breach by the debtor or hirer of a regulated agreement,— Web2. The notice gives tenants the period (which must be at least 2 months) in which to accept the price and terms set out in the notice which use offered on a 'take it or leave it' basis. To accept the offer, at least 50% of the ‘qualifying tenants' must give a notice in response.
Limitation and section 87 of the Consumer Credit Act 1974
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Default notices: the de minimus test - Manchester Metropolitan …
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