Latest CAB press release

[Wintry]

Hi

 

Press release by CAB on the Goverments decision to give OFT powers to suspend consumer credit licenses with immediate effect.

 

http://www.citizensadvice.org.uk/press_20120719

 

Interesting

[Wintry]

Hi

 

Further on this...

 

http://news.bis.gov.uk/Press-Releases/New-power-strengthens-consumer-credit-protection-67d53.aspx

 

Interesting, oh yes, in potentially many areas and ways.

[Bang!]

Hi

 

Further on this...

 

http://news.bis.gov.uk/Press-Releases/New-power-strengthens-consumer-credit-protection-67d53.aspx

 

Interesting, oh yes, in potentially many areas and ways.

 

As its changing the procedures rather than the any offence, current wrongs could be addressed using the new system without being ex post facto.

 

If its actually policed rather than a token gesture; then bailiffs, DCAs and hire purchases companies could find themselves paying out a lot of quieteners for their current MOs.

 

Now doorstepping or telephone call letters are likely to be treated with far greater respect, as potentially will alleged debtors addressing concerns citing the Protection from Harassment Act 97.

 

If it's heavily policed and the PPI spamsters get on board, it could soon be 'Have you had a high bill from a bailiff, or been sent a letter for a debt you don't owe?' filling the junk mail folders.

Edited July 19, 2012 by Bang!

[Wintry]

As its changing the procedures rather than the any offence, current wrongs could be addressed using the new system without being ex post facto.

 

If its actually policed rather than a token gesture; then bailiffs, DCAs and hire purchases companies could find themselves paying out a lot of quieteners for their current MOs.

 

No doorstepping or telephone call letters are likely to be treated with far greater respect, as potentially will alleged debtors addressing concerns citing the Protection from Harassment Act 97.

 

If it's heavily policed and the PPI spamsters get on board, it could soon be 'Have you had a high bill from a bailiff, or been sent a letter for a debt you don't owe?' filling the junk mail folders.

 

Hi Bang

 

Some really good points & plenty of food for thought here.

 

The implications could be widespread the more you think about it.

 

Just been talking to a few colleagues of mine about this, a few wry & beaming smiles amongst them in the room today:)

 

Well, as always, only time will tell

[sequenci]

It can only be a good thing, and should certainly make untoward creditors think twice about their behaviour. I personally feel that consumer credit regulation should be taken away from the OFT with a dedicated organisation set up that ONLY deals with it; it's such a massive area and deserves its own entity.

 

Still great news, though!

[enterprise_seo]

Let's hope that those debt spivs already on the OFT's "minded to revoke" list (HFO Services, Roxburghe et al) are dealt with first.

[Wintry]

Hi

 

The OFT do seem to be ratcheting up the pressure on a number of fronts which has to be good news

 

They are setting the foundations with no escape valve it would appear (its all down on paper)

 

Not much direct action yet though in my opinion and time will only tell, but they are starting to get into a position where they could themselves 'laid bare' so to speak if they are not careful