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Investigation leads to shutdown of ‘asset recovery’ company that recovered no assets READ MORE HERE: https://www.gov.uk/government/news/investigation-leads-to-shutdown-of-asset-recovery-company-that-recovered-no-assets
Hi there, When i work night shifts, i have a good read around the forum, and find lots of interesting reading Can someone tell me why, Every night at anytime between 04:00 am, And 04:30 am, the forum stops working ? Colin
The Government is to give the Office of Fair Trading (OFT) new powers to suspend a consumer credit licence with immediate effect. It follows outrage from consumer groups after companies that have been censured for breaking the rules are allowed to continue operating. The most high-profile case was Yes Loans, which charged would-be borrowers up to £70 for loans that they would never be offered. The new measure will help the OFT clamp down on rogue companies that provide any goods or services around credit, lend money, collect debts or help people with debt problems – like payday lenders and debt management firms. The new power, which will come into effect in early 2013, allows the regulator to act fast when consumers need urgent protection. The move, announced by Consumer Affairs Minister Norman Lamb and the Financial Secretary to the Treasury Mark Hoban, comes in response to growing concerns that these rogue firms can continue trading despite the decision to revoke their licence being a clear indication that the regulator thinks they are unfit to operate. Currently the OFT has the power to suspend or revoke a consumer credit licence, but businesses can appeal this decision and can continue to trade during the appeal period, which in some cases can last up to two years. Read more: http://www.dailymail.co.uk/money/news/article-2176054/OFT-gets-power-clamp-rogue-credit-firms-payday-lenders.html#ixzz21BKGWqVZ