There has been a boom in the internal economy since the duration of the past two decades, mainly due to the fact that granting and accessing credit had not been easy. However, as price had to be paid for this boom, the numbers of businesses and individuals being unprecedented resulted in over indebtedness. In basic sense, consumer credit is referred to as the value of credit utilized by the customers for purchasing services or goods that involve non- investment being consumed and the ones whose value can quickly be depreciated (Rogerson, 1995). This includes loans for trailer, boat, education, vehicles of recreation and automobiles; however, there is exclusion of debts drafted for purchasing margin over accounts of investment or real estate. With respect to this concept, this essay shall be discussing the law of consumer credit, protections it provides and guidelines for what can be done by people while facing any trouble.