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Career Finance 4 Trade Skills Limited have some requirements agreed with the FCA on their consumer credit licence.
Marlborough's credit licence has lapsed completely.
Career Finance 4 Trade Skills Limited have some requirements agreed with the FCA on their consumer credit licence.
Marlborough's credit licence has lapsed completely.
Voluntary Requirements
1. With effect from 8th August 2016, CF4TS shall not carry on any regulated activities, save that CF4TS has Part 4A permission for exercising/having the right to exercise the lender's rights and duties under a regulated credit agreement limited to where the agreement was entered into by the firm on or before 15 July 2016.
2. CF4TS shall provide to the Authority in writing to Firm.queries@fca.org.uk every six calendar months, commencing 8th August 2016, or within such period as the FCA may reasonably require, the following information:
a. the number of loan agreements collected on and closed in the previous six months;
b. the total amount collected on all loans within the previous six months;
c. the total number of customers with open/active loans, as at the date of reporting;
d. the amount still to be collected on all open/active loan agreements; and
e. the number and percentage of loan agreements in arrears and default, as at the date of reporting.
3. CF4TS shall by 3rd October 2016 provide all of its existing customers in writing the following information in relation to the Continuous Payment Authority:
a. information about the basis on which further attempts to obtain payment under Continuous Payment Authority ("CPA") will be made and the frequency of these attempts; and
b. information about whether part payment may be sought under the CPA and, if so, the basis on which and frequency with which payment would be sought and whether part payments would be subject to a minimum amount of percentage; and
4. CF4TS shall inform the Authority in writing to Firm.queries@fca.org.uk, no later than seven days after it has ceased collecting out on loan agreements (i.e. once it has emptied its current book). Upon such notification, CF4TS's permission for exercising/having the right to exercise the lender's rights and duties under a regulated credit agreement will, with immediate effect, be automatically varied to remove all regulated activities and the firm's FCA authorisation status cancelled.
5. In the event that CF4TS has not notified the Authority by 5pm on 31 August 2020 in accordance with paragraph 4 above, CF4TS's permission for exercising/having the right to exercise the lender's rights and duties under a regulated credit agreement limited to where the agreement was entered into by the firm on or before 15 July 2016 and the firm's FCA authorisation status will be cancelled with immediate effect. CF4TS must write off any outstanding loans in existence on 31 August 2020 and notify in writing the customers whose loans have been written off of this action by 28 September 2020.
1. With effect from 8th August 2016, CF4TS shall not carry on any regulated activities, save that CF4TS has Part 4A permission for exercising/having the right to exercise the lender's rights and duties under a regulated credit agreement limited to where the agreement was entered into by the firm on or before 15 July 2016.
2. CF4TS shall provide to the Authority in writing to Firm.queries@fca.org.uk every six calendar months, commencing 8th August 2016, or within such period as the FCA may reasonably require, the following information:
a. the number of loan agreements collected on and closed in the previous six months;
b. the total amount collected on all loans within the previous six months;
c. the total number of customers with open/active loans, as at the date of reporting;
d. the amount still to be collected on all open/active loan agreements; and
e. the number and percentage of loan agreements in arrears and default, as at the date of reporting.
3. CF4TS shall by 3rd October 2016 provide all of its existing customers in writing the following information in relation to the Continuous Payment Authority:
a. information about the basis on which further attempts to obtain payment under Continuous Payment Authority ("CPA") will be made and the frequency of these attempts; and
b. information about whether part payment may be sought under the CPA and, if so, the basis on which and frequency with which payment would be sought and whether part payments would be subject to a minimum amount of percentage; and
4. CF4TS shall inform the Authority in writing to Firm.queries@fca.org.uk, no later than seven days after it has ceased collecting out on loan agreements (i.e. once it has emptied its current book). Upon such notification, CF4TS's permission for exercising/having the right to exercise the lender's rights and duties under a regulated credit agreement will, with immediate effect, be automatically varied to remove all regulated activities and the firm's FCA authorisation status cancelled.
5. In the event that CF4TS has not notified the Authority by 5pm on 31 August 2020 in accordance with paragraph 4 above, CF4TS's permission for exercising/having the right to exercise the lender's rights and duties under a regulated credit agreement limited to where the agreement was entered into by the firm on or before 15 July 2016 and the firm's FCA authorisation status will be cancelled with immediate effect. CF4TS must write off any outstanding loans in existence on 31 August 2020 and notify in writing the customers whose loans have been written off of this action by 28 September 2020.
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