# The Consumer Credit (Information Requirements and Duration of Licences and Charges) Regulations 2007, Paragraph 1

Extent: E+W+S+N.I.

The following form of wording shall be contained in a statement under this Part—
“Minimum payments
If you make only the minimum payment each month, it will take you longer and cost you more to clear your balance.”.

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Source: https://www.legislation.gov.uk/uksi/2007/1167/schedule/2/paragraph/1 (the official version)
Page: https://openlegislation.uk/consumer-credit-information-requirements-and-duration-of-licences-and-charges-regulations-2007/schedule-2/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.