Credit and debt services

Under the Consumer Credit Act 1974, 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.

The following types of business must be licensed with the Office of Fair Trading:

  • Consumer credit
  • Consumer hire
  • Debit adjusting and debt counselling
  • Debt collecting
  • Credit reference agencies
  • Canvassing credit off trade premises

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 type of activities they cover, their authorised trading names and main business address.

Enquiries

Please visit the Financial Conduct Authority website: