Many borrowers lose track of the terms they signed. Under the Consumer Credit Act 1974, which applies across the UK, a debtor under a regulated credit agreement can send a written request for a copy of the executed agreement and an account statement. Sections 77 and 78 set out the duty for fixed-sum and running-account credit respectively, and there are consequences if the creditor fails to comply.
Fixed-sum credit: section 77
Under section 77(1), the creditor under a regulated agreement for fixed-sum credit, within the prescribed period after receiving a written request from the debtor and payment of a fee of £1, must provide a copy of the executed agreement (if any) and any other document referred to in it. It must also provide a statement signed by or on behalf of the creditor showing, according to the information it is practicable to refer to, the total sum paid under the agreement, the total sum which has become payable but remains unpaid with the dates each amount fell due, and the total sum still to become payable with the date, or method of working out the date, each amount falls due.
If the creditor lacks enough information to state the future amounts and dates, section 77(2) treats it as complying if the statement gives the basis on which they would be worked out under the agreement.
Running-account credit: section 78
Section 78(1) creates the same kind of duty for running-account credit, such as an account that can be drawn on repeatedly, with the same fee of £1 and a copy of the agreement and other documents referred to in it. The statement must show the state of the account, the amount currently payable and the amounts and due dates of payments that will later become payable if the debtor draws nothing further on the account. Section 78(1A) says the fee wording is disapplied where the request also amounts to a request for information under regulation 49 of the Payment Services Regulations 2017.
Section 78 also requires the creditor to give statements in the prescribed form showing the state of the account at regular intervals of not more than twelve months and, where the agreement provides for periodic payments or charges, at the end of each period with any movement in the account. Those periodic statement duties do not apply to a small agreement.
Limits on the right
Both sections state that the duty does not apply to an agreement under which no sum is, or may become, payable by the debtor, or to a request made less than one month after a previous request about the same agreement was complied with. Both also exclude non-commercial agreements. The revised text of section 77 records that words excluding a regulated deferred payment credit agreement were inserted with effect from 15 July 2025 for specified purposes and from 15 July 2026 for the remainder, so the section’s reach for that category should be checked against the current version.
What happens if the lender does not comply
Under section 77(4), if the creditor fails to comply, it is not entitled, while the default continues, to enforce the agreement. Section 78(6) says the same for running-account credit. The unenforceability lasts only while the default continues, so it is not a permanent release from the debt, and a lender that later provides the documents can resume enforcement. The prescribed period for responding is set in regulations rather than the sections themselves, so it should be checked when a request is made.
Using the documents
A copy of the agreement and statement can help a borrower see what was promised, check the total paid, and compare the lender’s figures with their own records before deciding on a repayment plan, a complaint or a dispute about an entry on a credit file. A request should be in writing, dated, name the agreement and enclose the £1 fee, and a copy should be kept along with proof of postage.
FAQs
How much does the request cost?
Sections 77(1) and 78(1) both state a fee of £1, and section 78(1A) removes that wording where the request also amounts to a Payment Services Regulations 2017 request.
Can I ask more than once?
Not more than once a month for the same agreement. Sections 77(3) and 78(3) exclude a request made less than a month after a previous request was complied with.
Does this apply in Scotland and Northern Ireland?
The legislation marks both sections as applying UK-wide, although court procedures for enforcing debts differ between the nations.
Bottom line
Sections 77 and 78 give borrowers a low-cost way to get the agreement and a statement of account, and lenders that ignore a request cannot enforce the agreement while the default continues. The right has exceptions, including for non-commercial agreements and frequent requests. This is general information about the statute, not legal advice; confirm the current wording on legislation.gov.uk.