OFT Visit for CCL registration

[wyman100]

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Hi Guys,

I'm just starting up purely as a secured loan packager. I already have a CCL with credit broker status, but on advice from First Plus I am amending this to include debt adjusting and debt counselling on a commercial basis. My application is pending.

Now the OFT are coming to see me and I was wondering if anyone else has had a similiar visit?

Any advice would be appreciated!

Wy

[LoanMachine]

You say "on advice from First Plus" - are you planning to package their deals?!?

I was under the impression they had ceased all broker business.

Sorry - can't answer your query though - unsure if normal practice from the OFT or not.

Chris
Homeowner Loans | Debt consolidation | Secured Loan - Loan Machine
Get out of Debt | Debt Solutions | Debt Management - IVA Machine

[gerard]

Taken from the OFT site

The OFT has identified a number of debt-related activities which
it considers, by their nature, to be of higher potential risk to consumers, including:
• commercial debt adjusting
• commercial debt counselling
• commercial credit repair
• debt collecting.
If you are applying for a licence to undertake any of these high risk activities you will be required to provide evidence of your credit competence in the form of a Credit Competence Plan. You are also likely to be subject to an on-site inspection by the OFT and/or Local Authority Trading Standards Officers.

http://www.oft.gov.uk/shared_oft/bus...ces/oft147.pdf

It was introdued in April this year i believe

[MikeZD]

DId you complete a Credit Competence Plan when you applied for the additional categories?

[wyman100]

Yes I did

Wy

[help_please]

DId you complete a Credit Competence Plan when you applied for the additional categories?

Any idea where I can get some "help" with the compleation of this?

[wyman100]

why do you need to fill it in? what are you planning to do?

[MikeZD]

It really depends what you are planning to use the CCL for.

It's more indepth for Debt Man, Debt Collecting, credit repair.

They review how compliant you are with the regs (see OFT website for these)
if you have valid complaints process
what your biz procedures are

HTH.

[anyloans.co.uk]

Any idea where I can get some "help" with the compleation of this?

I think if you need help completing this then really you shouldn't even be applying

[Michael_Anthony]

help_please, have pm'd you some help as requested. Good luck with it.

[Finance_Secrets]

help_please, have pm'd you some help as requested. Good luck with it.

Are you really in the best position to help considering your own licence expired in August 2008 !!!!!!

****edited personal info (mod)****

[deepak]

help_please, have pm'd you some help as requested. Good luck with it.

hi Micheal,

would it be possible you could forward me the same information in regards to the CCL, sorry i havent responded to the last mail, been getting my head round applying for the licence and CCL.

thanks

Deepak