Consumer Credit Licensing

If a business offers credit or lends money to consumers, or allows customers time to pay for goods and services, it must be licensed with the Consumer credit Licensing Bureau of the Office of Fair Trading under the Consumer Credit Act 1974.

The following types of businesses must be licensed with the Office of Fair Trading.

• Consumer Credit Category A
• Consumer Hire Category B
• Credit Brokerage Category C
• Debt Adjusting and Debt Counselling Category D
• Debt Collecting Category E
• Credit Reference Agency Category F
• Canvassing Off Trade Premises Category Z

The Office of Fair Trading holds a public record of all licensed traders and of all those who have applied for a licence. They can provide details to the public about its licensed businesses, such as the types of activities they cover, their authorised trading names and main business activities.

To obtain an application form for a Consumer Credit licence, see the Office of Fair Trading

If you wish to vary the terms of your licence or make any changes to your licence then you need to complete a separate form, see OFT www.oft.gov.uk

Licence applications or licence renewal forms or any other forms can also be obtained by writing to;

 Consumer Credit Licensing, Room 1C/5, Office of Fair Trading, Fleetbank House, 2-6 Salisbury Square, London, EC4Y 8JX.

The completed forms should be sent to the OFT who issue the Consumer Credit Licences (should the applicant be suitable).

Enforcement of the provisions of the Consumer Credit Act 1974 are carried out by Trading Standards Departments of the Local Authority