Link Financial Ltd

[Macymay]

I was informed yesterday by the Office of Fair Trades that consumer credit licence 446835,

Link Financial Ltd lapsed on 3rd May 2013.

 

They have applied for a new licence 658332 but it will take 25 - 50 working days to process.

 

As such Link Financial are currently operating without a cunsumer credit licence.

 

Can anyone advise, does this make any debts persued during this time non enforcable?

 

Many thanks

[DonkeyB]

No, they are allowed to trade while their application is considered.

[Macymay]

No, they are allowed to trade while their application is considered.

What happens if the licence isn't granted?

[DonkeyB]

I doubt it will be refused. Even if it is, there are two levels of appeal, during which time they can continue to trade.

[dx100uk]

tell us about the debt please

link are the biggest spoofers out there

 

dx

[havinastella]

And one of the biggest litigators.

[dx100uk]

only when people allow default judgements

which is why they always send papers to your old addresses.

 

where do you think he got the money for this from:

http://www.homesandproperty.co.uk/property_news/news/millionairedebtcollectordigsdeepinsouthkensington.html

[RDR]

Link should not be chasing debtors. As you state they are unlicensed. Let the OFT know.

[DonkeyB]

Link should not be chasing debtors. As you state they are unlicensed. Let the OFT know.

 

Nonsense. They are allowed to continue to trade while a licence application is considered. I think it unlikely their application will be refused anyway.

[RDR]

Interesting to think you believe this. On what basis do you state this fact ?.

[DonkeyB]

Have you read the OFT guidance on consumer credit licensing? I have.

[DonkeyB]

Read this.

 

http://www.oft.gov.uk/OFTwork/credit-licensing/renew-licence/#.UdV_Rj6kemA

[RDR]

"Once a licence has lapsed it can not be renewed. You will need to apply for a new licence. Trading in credit activities without a licence is a criminal offence".

 

The license is lapsed. It is an offence to trade.

[DonkeyB]

Their new application was approved and a licence issued on 31 May 2013.

 

Please check your facts and stop giving false hope to people, based on incorrect technicalities.

[DonkeyB]

You should also be aware that the OFT is changing the way it deals with licence applications and their validity/duration. This may have added to the confusion, but was announced by the OFT quite some time ago.

[DonkeyB]

If they had fallen foul of the system, a quick waiver application to the OFT would have seen them through. Companies can apply for waivers in such circumstances (and have to pay for them, depending on their level of activity), and unless there are serious objections, they are normally granted (as it is an easy revenue stream for the OFT).

 

Although we may hate Link and their like, they know how to play the system.

 

Anyway, Link Financial Outsourcing is normally the company that does the collection on behalf of Link Financial Ltd, and their licence is current and ongoing.

 

What Link Financial Ltd could not have done in that time, themselves, was buy or sell debts, and this would have applied for a period of a couple of weeks.

[RDR]

Donkey, you seem to have ridiculed me in an earlier post for "giving false hope....on technicalities", based upon OFT written statements that you yourself provided in a link to the OFT page.

 

You now state "What Link Financial Ltd could not have done in that time, themselves, was buy or sell debts, and this would have applied for a period of a couple of weeks." and appear to agree with my stance that having had a license lapse, the post license holder is not in any position to undertake licensable consumer credit activities until it's license has been re-instated.

 

You appear confused...........

[DonkeyB]

But it isn’t Link Financial Ltd that is chasing the debt. I think you’ll find it’s Link Financial Outsourcing.

 

Yes, it is an offence to trade in debt without a licence. But it is not an offence to own debt without a licence. Where is the evidence that they traded any debt in that timeframe?

 

You stated today (4 July) that the OP should complain to the OFT about Link Financial Ltd not having a licence when in fact – since the end of May – they DO have a licence. And again, it is usually not Link Financial Ltd which chases the debt, but its agent.

[DonkeyB]

I’m not sure where you’re trying to take this thread. Can you identify an offence? I can’t.

[RDR]

Donkey, MY first post of 13:27 on this subject is in retort to the first post on this board by Macymay 17th May 2013; to wit "I was informed yesterday by the Office of Fair Trades that consumer credit licence 446835, Link Financial Ltd lapsed on 3rd May 2013. "

 

My post of 13:27 is correct based upon OFT written statement. You may agree with me now, having agreed with me previously in an earlier post. So my intention now is to not get into a p###ing contest with you on this.

[DonkeyB]

Yes, your post was ten weeks late. And inaccurate when posted, as Link Financial Ltd had a valid licence when you posted.

 

You can p*** all you like, because you have suggested the OP complains when in fact there is no evidence that any offence has been committed.

[dx100uk]

well as the op has not been back since 2mins after starting the thread

its now dlosed

 

OP if you need it reopened PM me or the siteteam

 

dx