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katiexx

Consumer credit licence

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Hi

 

My story is a bit involved so I thought I would start at the top and gradually move through the different questions I have.

 

My initial question is if somebody applies to the office of fair trading for an amendment to their licence eg: to add another trading style to it at what point are they allowed to actually trade. Is it from when the application is sent or from when it was approved.

 

I have checked the public register of a particular licence holder and they applied for an additonal trading name and style of credit on the 31st May 2011 this is when the OFT has stated application received on the 17/6/11 they have stated closed so this I am assuming to mean when the application was dealt with. I would like to state they are a sole trader offering mortgages and logbook loans

 

Is the licence holder permitted to trade with the new trading style on the 9th June 2011 prior to what I seem to believe is the date the application was approved?

 

Many Thanks for any advice and there is a lot more questions to come I just want to get things in slow order

 

K

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Having read you post again, I have now moved you to the legal section - sorry about that.

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Phone the OFT. I think if they already hold a licence, they can do so. As long as all of their published information shows the relevant licence number and they are the process of registering the new trading style.


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I have just had a response from the OFT and they have stated that until the name is added to the licence it is a criminal breach.

 

So my question now where do I stand? Is my credit agreement and or bill of sale void? If so how do I go about dealing with this mess.

 

The details of the breach have been forwarded to the Trading Standards, the Financial Ombudsman is looking into this as well.

 

Do I continue paying or are there any steps I can take myself?

 

Many Thanks

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