Credit licensing
Under the Consumer Credit Act 1974 most businesses that provide goods and services on credit or for hire, lend money or provide debt collecting, debt counselling or debt adjusting services to consumers need to have a credit licence.
Trading in credit activities without a credit licence is a criminal offence, for more information see penalties and requirements.
The OFT has published guidance which sets out how and when it can use its new power to suspend consumer credit licences (pdf 454kb).
What would you like to do now?
I don't have a credit licence and I want to:
- find out whether I need a credit licence
- apply for a new licence
- find out how much it costs to apply for a licence
- know how long it takes to process a licence application
Find out
- if someone has a credit licence (this will take you to the consumer credit register, an external website)
- more information about consumer credit
- about current and recent enforcement action
- about current and recent investigations into licence applications
- about group licences
- about Cycle to Work
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