Continual Payment Authority

[berniel]

Re: Continual Payment Authority

There's a big fuss with the OFT about this as their guidance is really pretty appalling in relation to this legislation.

HI Labman

Have the OFT issued guidance on these as well as the FSA?

Bernie

[leclerc]

Re: Continual Payment Authority

There's a big fuss with the OFT about this as their guidance is really pretty appalling in relation to this legislation.

What OFT guidance? Link please and to the legislation you are referring to please.

[labman]

Re: Continual Payment Authority

This after they stated, "there is no automatic right to cancel.."

Debt Collection - supplementary consultation - The Office of Fair Trading

For once I'm glad the OFT stuff is just guidance and not the legislation itself, backed up by the FSO.

[leclerc]

Re: Continual Payment Authority

This after they stated, "there is no automatic right to cancel.."

Debt Collection - supplementary consultation - The Office of Fair Trading

For once I'm glad the OFT stuff is just guidance and not the legislation itself, backed up by the FSO.

Page number please of the guidance as I don't want to read the whole document?

3.9m is the guidance but you need to read the bit in bold more closely. Page 30 for reference. It's not the same thing as what you are suggesting.

[berniel]

Re: Continual Payment Authority

This after they stated, "there is no automatic right to cancel.."

Debt Collection - supplementary consultation - The Office of Fair Trading

For once I'm glad the OFT stuff is just guidance and not the legislation itself, backed up by the FSO.

Oh I see what you mean.
These are investigations that question the rights of creditors or dca's to draw on existing authorities of course.
The Regulation gives the customer the right to cancel the existing authority.
Bernie