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  • #1

    Rogue money firms face instant closure by OFT

    The Office of Fair Trading is being given the power to instantly stop rogue money lenders, debt collectors and debt advice firms from operating.
    The government is amending the Financial Services Bill, which is currently in the Lords, to give the OFT the power to suspend firms' consumer credit licences with immediate effect.
    At the moment appeals can hold up such decisions by up to two years.


    BBC News - Rogue money firms face instant closure by OFT
    Tags: advice, barclays, bbc, bill, collectors, companies, consumer, consumer credit, credit, debt, debt advice, default, financial, firms, government, house, hsbc, illegally, lenders, lords, marlin, mercers, money, office, oft, power, powers, rogue, stop
  • #2
    Re: Rogue money firms face instant closure by OFT

    about bloody time, shame they are unlikely to use the powers but at least its a bit more leverage!
    When you have nothing you have nothing to lose

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    • #3
      Re: Rogue money firms face instant closure by OFT

      Marlin here we come
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      • #4
        Re: Rogue money firms face instant closure by OFT

        HSBC VANQUIS
        CAPQUEST AKTIV KAPITAL

        LLOYDS CITI
        RBS
        BARCLAYS
        CAP 1
        MBNA

        Just for starters?
        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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        • #5
          Re: Rogue money firms face instant closure by OFT

          Lol maybe not but wishful thinking eh?
          I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

          If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

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          • #6
            Re: Rogue money firms face instant closure by OFT

            How about Mercers. Barclays in house collectors for illegally sending non compliant default notices and enclosing the "official forms from Office of Fair Trading".

            Sorry can't shut them down as they are a "non trading company"???

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            • #7
              Re: Rogue money firms face instant closure by OFT

              Originally posted by Enforcer View Post
              How about Mercers. Barclays in house collectors for illegally sending non compliant default notices and enclosing the "official forms from Office of Fair Trading".

              Sorry can't shut them down as they are a "non trading company"???


              That is a good point, there are many out there it seems who are so called non trading companies.
              I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

              If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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              • #8
                Re: Rogue money firms face instant closure by OFT

                Originally posted by Never-In-Doubt View Post
                Lol maybe not but wishful thinking eh?


                Yes = we can dream I suppose.
                I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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