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OFT Increase the cost of a credit licence.


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Credit Today online

 

 

 

They need the money to screw a few more DCA's. :D

 

 

 

The OFT warned that it now has greater powers to scrutinise applicants who want to engage in higher risk activities such as debt collection and secured sub-prime lending. These powers include the ability to launch site visits, staff interviews and compliance reviews.

 

The OFT can also use various enforcement powers and sanctions provided under the new regime to help bring about improvements in a licensee’s conduct.

These are video links to show how I deal with Debt Collectors.

 

Fly fishing for C.A.R.S

http://uk.youtube.com/watch?v=zPtzK8FqE6k&feature=related

 

Frederickson International don't accept my card type

http://uk.youtube.com/watch?v=eiZBULlWW6Q&feature=related

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Its funny enough that their income is suffering thanks to CAG...now the government has just rubbed in the wounds :D

 

Usually when someone increases the price in a recession peeps moan. In this case we hear a huge cheer. That's a few quid more the OFT will have for stuffing the DCA's with. Their income for regulating the industry comes from the cost of a licence. So, they increase the licence fee, raise a bit of cash to do some investigations, then dish out a few £50k fines. Then they have a nice fat pile of cash to start stamping on them properly.

 

Better get your piggy bank out *** ******* as 1st Credit's licence is up for renewal soon. Oh, and Moorcroft's too.

 

The bad news for the DCA's this year just gets better and better. :D

These are video links to show how I deal with Debt Collectors.

 

Fly fishing for C.A.R.S

http://uk.youtube.com/watch?v=zPtzK8FqE6k&feature=related

 

Frederickson International don't accept my card type

http://uk.youtube.com/watch?v=eiZBULlWW6Q&feature=related

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Better get your piggy bank out *** ******* as 1st Credit's licence is up for renewal soon.

 

FB I realy think this is going to happen this year!!!

 

HAK

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FB I realy think this is going to happen this year!!!

 

HAK

 

So do I.

 

I predicted in early 2008 that 2009 would be the year that we see a DCA go bump. And a few more follow soon after.

 

Then the shockwave goes through the industry to clean up their act. Then they discover they can't without breaking the law, guidelines, and no longer able to make mass profits for peanuts investments. And the rest of their off shore investor companies pull the plug on a no longer profitable exploitaton of the vunerable and people who have fallen on hard times.

These are video links to show how I deal with Debt Collectors.

 

Fly fishing for C.A.R.S

http://uk.youtube.com/watch?v=zPtzK8FqE6k&feature=related

 

Frederickson International don't accept my card type

http://uk.youtube.com/watch?v=eiZBULlWW6Q&feature=related

Link to post
Share on other sites

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