Consumer credit licence
Other

Julie_553
Julie_553
0 Thanks
18 Posts
14 years ago
0
Hi there I work for an estate agents and when we first started trading some 5 years ago as we were not sure what fields we would be covering at the time we took out a consumer credit licence. However we do no lending, we dont do mortgages or have anything to do with consumer credit. The only grey area is debt collecting. We collect rents under our normal letting and management responsibilities, if tenants get into arrears we try to collect the rent on behalf of our clients on our clients advice.

Is this classed as debt collection do you know under their criteria or would you say its only if you take on debts for others as a debt collector would or offer a debt advisory service just related to that, which we dont? Are you able to advise. I have spoken to the OFT and they have a booklet "Do you need a licence" and it does appear to be no to the licence apart from the rent collection/arrears duties which I am unsure about.

Please Login

You must be logged in to participate in our forums, to continue please login below.

Not a member? From only £99 you can join in the discussion and get access to member's only resources and services.

As the home for landlords, the NRLA are here to help you save time, save money, and stay compliant. NRLA membership gives you access to a vast range of expertise, resources, and exclusive member benefits and savings, designed to help and empower members. We also play a pivotal role in campaigning and championing the interests of landlords.