Don’t Give a Loan or Credit to Anyone (Not Even a Friend) Without Legal Advice!

KVV Inc Attorneys

Published on: 04/03/2025

Lending money without registering as a credit provider under the NCA is risky. Unregistered lenders risk losing the entire loan amount, even if a settlement agreement exists, as courts may find the agreement unlawful and invalid. The NCA protects borrowers and requires credit providers to assess affordability. Even single loans of any amount fall under the NCA, and while courts have some discretion to make a "just and equitable" order, there's no guarantee. Always seek legal advice before lending.