It is a practice not confined to small collection companies but is wide- spread throughout the credit industry. The oft will send you a renewal pack when your licence nears expiry. Citizens advice very much welcomes the new broader approach to dealing with unfair credit transactions proposed by the government.

Do i want to sell on credit?Debt collection guidance for consumer credit licence holders and applicants. Consumer credit act - outcome of recent appeals.

Home campaigning for change policy/campaign publications consultation responses consumer and debt fair, clear and competitive  the consumer credit market in the 21st century. Find out how to apply for a consumer credit licence at the oft website. Every trading name licensed by the oft must be different, and over 400, 000 oft licences have been issued. Even if you are not going to offer credit or hire yourself, you may want to introduce your customer to someone who will. Category b consumer hire business.

The completed forms should be sent to the oft who issue the consumer credit licences should the applicant be suitable. Download a booklet about consumer credit licences from the oft website pdf. In setting the amount of compensation, the oft should have regard to the level of distress individual consumers have suffered. Homes and mortgages stevenage.