OFT finds three debt businesses unfit and excludes a solicitor from undertaking licen

[Legal Beagles]

The OFT has refused to renew the consumer credit licences of debt purchaser HFO Capital, and two associated debt collectors, HFO Services Limited and Roxburghe (UK) Limited. Alasdair Turnbull, a solicitor who acted for the group of firms, has also today been excluded from the group consumer credit licence held by the Law Society for […]

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[Celestine]

Re: OFT finds three debt businesses unfit and excludes a solicitor from undertaking l

Lovely

[enaid]

Re: OFT finds three debt businesses unfit and excludes a solicitor from undertaking l

Tip of the iceberg, but a start, let's hope they carry on and go after a few more.

[Sparkie1723]

Re: OFT finds three debt businesses unfit and excludes a solicitor from undertaking l

The OFT want to get their act together............The Law Socities CCA licence only allows solictors to carry out ONE Category of licensible activities and that is CREDIT BROKERAGE as shown by the Law Societies CCA Licence as shown below
Licence Number:0588216
Licence Status:Current
Current Applicant / Licensee:
Business Name Company Registration Number
The Law Society

Categories:
Credit brokerage

Right To Canvass Off Trade Premises:No
Issued Date:20-Aug-2006
Date Maintenance Payment Due:19-Aug-2016L.

Any solicitoror solicitors firm in order to collect debts on behalf of anyone MUST hold their own CCA licence with a debt Collectors category on said licence............It shows the OFT are "scared" of taking on REAL power organisations.....( I could name one of those)

The Solicitors Regulatory Authority does not hold a CCA licnece in their own right

OFT a complete waste of space in a LOT of Instances. ( which he should be banned from collecting debts)
How can they ban a solicitor from using the Law Socitoes Group licence to collect debts when the licence doesn't cover them in the first instance.
More ramblings from Sparkie