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thats basically always been the case with a credit licence as anybody can apply for one,the thing is once armed with a credit licence you could knock on someones door and offer them a tea towel for £2 interest free and come back the following week and as they are now a customer of yours with a credit agreement you can now offer them a cash loan at your chosen interest rate,if they dont pay and you are that way inclined you may very quickly turn to violence, that is why the licence was tightened up therefore you have to fill in all relevant sections of the credit licence hold your breath and hope they give one to you.
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I'm sure there are some hard luck cases on the margins of creidit licence refusals, but do we want kidnappers acting as moneylenders?
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A kidnapper can be someone who takes a criminal to the nearest police station these days though. We see 'daily' stories of injustics against decent people who have to break the law in order to uphold it (just as the Police do).
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One would want to know whether the offence was committed in the course of business (so to speak) or was unconnected. Ishok Leyland suggests this kind of prosecution can be brought against a respectable citizen on occasion, and the media seem to bear this out. However such cases are quite rare.
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Sources of credit are more than numerous and second hand car dealers have a poor reputation at the best of times. I have no doubt the decision of the OFT was correct.
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Espada III - well if you have a family and need a Lamborghini, what else do you drive?
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agree with espada.
the oft has taken the right decision at the right time.
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Sorry HJ, on the face of it, I'm with the OFT on this one.
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Not to forget the GBH?!
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So let me get this straight. The man kidnapped someone and stoved their head in (or something similar) and this OFT have refused to grant him a licence to lend money to people?
I've said it out loud and I still can't see what the problem is.
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Quote;
'The man kidnapped someone and stoved their head in (or something similar)'
A very good reason not to default on the HP re-payments
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Good point - I thought all lenders did this to people who didn't pay up ;-)
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Having posted earlier I thought I'd see if anybody else could see the oddity of denying a convict a CC license, but still no answers. I suspect HJ knows more about this case than is disclosed in the OFT press release. But on the face of it I still think there's nothing extraordinary about a licensing system with a right of appeal and the further safeguard of judicial review.
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The OFT has very wide powers and does tend to act as judge and jury, and not always consistently with established interpretations of regualtions, in its adopted role as a branch of the nanny state. A skim of its press releases reveals IMO a very politically motivated agenda, with lots of grandstanding on 'consumer' issues going well beyond the simple reporting of what it has done
That said, they presumably make the occasional good decision of which HJ's story might be an example - or not.
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