CAG CRA S.A.R Club

[dannyboy660]

Here's the official line from the "tenth house in the street of many fools....." (that's 10 Downing Street in case there are any doubts)

 

 

 

"The Government has recently taken measures to strengthen the regulation of the debt collection sector. Under the Consumer Credit Act 1974, debt collectors already require a consumer credit licence in order to operate. The Office of Fair Trading (OFT) has a statutory duty under the Act to ensure that licences are only given to and retained by those who are fit to hold them. The OFT must, when determining whether or not a licensee is fit to hold a licence, consider any evidence that the licensee has engaged in business practices appearing to be deceitful or oppressive or otherwise unfair or improper.

Debt collectors that hold a consumer credit licence need to also comply with specific fitness guidance OFT has issued covering the debt collecting sector. This guidance was issued in July 2003 and applies to all consumer credit licence holders.

If a licensed debt collection agency or creditor persistently fails to comply with OFT's debt collection guidance or there is evidence to substantiate claims that the licence-holder has engaged in unfair business practices, OFT can ultimately revoke its licence, effectively putting the trader out of business. Any persistent failure by a creditor to provide accurate information could also reflect on its fitness to hold a licence.

This guidance outlines the types of business practices the OFT considers unfair and so incompatible with fitness to hold a consumer credit licence.

The guidance covers;

Communication

False representation of authority/legal position

Harassment

Deceptive and/or unfair methods

Unfair charges

Visits

Statute barred debts

The guidance is available at:

http://www.oft.gov.uk/advice_and_resources/resource_base/legal/cca/debt-collection

Anyone who wishes to comment on non-compliance with the OFT's guidance, can e mail them at [email protected] or telephone on 020 7211 5823.

However, in addition to the current rules relating to the debt collection sector, new legislation will strengthen and add flexibility to the regulatory options available to the OFT in operating the consumer credit licensing regime. The OFT has been given new powers by the Consumer Credit Act 2006 (CCA06), which comes into force in April 2008.

These will allow the OFT to place 'requirements' on licensees to modify conduct and impose financial penalties of up to £50,000 for a failure to comply with a requirement. The OFT will also have new information gathering powers enabling it to more effectively pro-actively monitor compliance by seeking information from licensed businesses about their activities including, for example, their debt collection practices.

In addition, the CCA06 also gives the OFT powers to take into account a company's competence to lawfully provide credit when assessing fitness to hold a licence. From April OFT require more information from businesses engaged in 'high risk credit activities' such as debt collection at the licence application stage in order to satisfy itself that the business will be 'credit competent'.

Credit competence refers to the ability of the business to carry out the activities covered by the licence to a reasonable standard. It will also take into consideration business processes and procedures which would assist with maintaining good standards of consumer protection. For example, whether adequate staff training procedures are in place to ensure that the firm's legal responsibilities are understood at every level of the organisation. This means that debt collection businesses will be subject to greater scrutiny at the licence application stage and greater monitoring throughout the life of the licence."

 

 

And there we have it. debtcollection - epetition response

[mrmarmite]

and in other words

 

blah blah blah blah blah blah

 

nothing will change

[dannyboy660]

There's a certain "Government Minister" working at a certain Debt Purchaser and issuing SD's on their behalf ( ) who may be about to find out if:-

 

"False representation of authority/legal position"

 

...has any real bite to it.

 

[mrmarmite]

if only, but I doubt it

[andrew1]

Danny Boy you beat me to it, but I'd suggest anyone having a DCA chasing them read this particular part:

 

"If a licensed debt collection agency or creditor persistently fails to comply with OFT's debt collection guidance or there is evidence to substantiate claims that the licence-holder has engaged in unfair business practices, OFT can ultimately revoke its licence, effectively putting the trader out of business. Any persistent failure by a creditor to provide accurate information could also reflect on its fitness to hold a licence.

 

This guidance outlines the types of business practices the OFT considers unfair and so incompatible with fitness to hold a consumer credit licence.

 

The guidance covers;

 

Communication

False representation of authority/legal position

Harassment

Deceptive and/or unfair methods

Unfair charges

Visits

Statute barred debts

 

The guidance is available at:

 

The Office of Fair Trading: Debt collection practices

 

Anyone who wishes to comment on non-compliance with the OFT's guidance, can e mail them at [email protected] or telephone on 020 7211 5823.

 

However, in addition to the current rules relating to the debt collection sector, new legislation will strengthen and add flexibility to the regulatory options available to the OFT in operating the consumer credit licensing regime. The OFT has been given new powers by the Consumer Credit Act 2006 (CCA06), which comes into force in April 2008.

 

These will allow the OFT to place 'requirements' on licensees to modify conduct and impose financial penalties of up to £50,000 for a failure to comply with a requirement. The OFT will also have new information gathering powers enabling it to more effectively pro-actively monitor compliance by seeking information from licensed businesses about their activities including, for example, their debt collection practices.

 

 

This should be blasted as a sticky from the highest post and EVERYONE who experiences anything outside of these guidelines use the email address.

 

The clearest words straight from the Prime Ministers Office... KEN MAYNARD - READ IT and BEWARE my friend, a few £400's are going to seem like a taxi ride for you soon! :grin:

 

 

 

To Ken with all my love : Sarah:grin:

[mrmarmite]

BUT the interesting thing is HOW LONG before some 1 gets slapped the MAX amount

[andrew1]

BUT the interesting thing is HOW LONG before some 1 gets slapped the MAX amount

 

The Cabot Fan Club are working on that just now - but I won't put on a public forum which company that might be of course

 

 

Sarah

[sosumi]

Dannyboy660 - what a result!

[sosumi]

This is from Credit Today. Bear in mind that the President of the CSA is the Director of 1st Credit! So, Mr Obermaier, knowing who your President is, it's very difficult to believe what you're saying here. Plus, many of the CSA's members are the DCAs who routinely threaten, cheat, lie, bully and intimidate. Perhaps it's time to get your own house in order?

Government to wind up DCA - 29/02/2008

 

Debt collection firm Initial Credit Support is to be wound up after the Secretary of State for Business Enterprise and Regulatory Reform presented a petition to the High Court.

 

The decision to wind up the company followed an investigation carried out by Companies Investigation Branch under section 447 of the Companies Act 1985 under which suspicions of misconduct can be looked at without risk of harming the business. Applications to wind up a business are made when misconduct has been found.

 

Kurt Obermaier, executive director of the Credit Services Association (CSA), said the agency is not a CSA member. "It wasn’t a CSA member and if it breached rules and codes it never would have been and it is good the firm is being wound up," he said.

The company, based in Birkenhead, was set up in July 2006 and operated as a commercial debt collector offering a debt recovery service to businesses it recruited by way of cold calling.

 

The official receiver has been appointed provisional liquidator and the case is now subject to High Court action. The petition will be heard on 13 May 2008.

[mrmarmite]

The Cabot Fan Club are working on that just now - but I won't put on a public forum which company that might be of course

 

 

Sarah

 

 

where's the link. i'm dealing with them at the mo i.e they claiming that application form is an agreement.

 

if you want a complaint just pm

[remus]

Dannyboy, I received that one as well, and was was heartened to see that everyone complaining is having an effect:)

But the response to the debt purchase petition less so:

 

"Before providing credit, lenders such as banks, loan companies and shops want to be confident that borrowers can repay the money they have been lent. To help them do this, they may look at the information held by companies called credit reference agencies. This applies equally to a company that takes over an existing debt.

Credit reference agencies provide lenders with information about potential borrowers, which they then use to make lending decisions. The information shared may include information about a person's previous credit history. They hold certain information about most adults in the UK in what are known as credit reference files or credit reports.

The Data Protection Act allows the disclosure of financial information to potential lenders or creditors where the obtaining, holding, use and disclosure of such information is necessary for the purposes of legitimate interests pursued by the organisation holding the information or by the third party to whom the information is disclosed.

Financial institutions have a legitimate interest in being able to assess the financial situation of people to whom credit is given. Were it not possible to make such an assessment, many people would be unable to obtain credit."

[remus]

opps! sorry should keep up to speed, see sosumi has already done this one:o

[mrmarmite]

lol remus done it me self

[cashins]

BUT the interesting thing is HOW LONG before some 1 gets slapped the MAX amount

 

I have long held the opinion that the only thing our government cares about is.................money!!

 

Assuming the loot goes into their coffers.........

 

David

[mrmarmite]

I have long held the opinion that the only thing our government cares about is.................money!!

 

Assuming the loot goes into their coffers.........

 

David

 

give ya self a gold star

i sometimes feel that this is what it's all about

[ODC]

BUT the interesting thing is HOW LONG before some 1 gets slapped the MAX amount

 

How long before someone gets even fined one penny

[pford]

BUT the interesting thing is HOW LONG before some 1 gets slapped the MAX amount

 

How long before someone gets even fined one penny

 

Never all be swept under the carpet

[Goldlady]

A question that has been bugging me for a while. I want a copy of my credit report and do not want to pay £6 a month so I can view it every day!!

 

Experian's website only seems to offer the 'free' report that then costs you as above and I have already subscribed and unsubscribed to it twice. How on earth do you get the old one you used to get for £1 - do you have to write to them?

[babybear39]

Dunno...Daren't look at mine lol...

[Brassed off]

It's 2 quid now Goldlady from Equifax. I wrote to Bradford for mine

[Goldlady]

Forget previous question - I looked on Equifax site and found theirs easily.

[Brassed off]

https://www.econsumer.equifax.co.uk/consumer/uk/sitepage.ehtml?forward=gb_contact_us

 

 

Not sure about Experian, I'm just looking on their website now.

[Brassed off]

[maroondevo52]

I sent a £1 cheque for mine, and it bounced

[Brassed off]

Oh dear, another candidate for the Naughty Corner