Licence Categories

It is important that a consumer credit licence contains the correct category of licence because carrying out a regulated activity when not licensed amounts to a criminal offence and the Office of Fair Trading may also revoke the licence in its entirety. The following licence categories are available on a consumer credit licence although some also contain sub-categories which are determined by whether the service is being undertaken by a commercial or non-commercial entity.

Category A – Consumer Credit businesses
Category B – Consumer Hire businesses
Category C – Credit brokerage
Category D –Debt adjusting
Category E – Debt counselling
Category F – Debt collecting
Category G – Debt administration
Category H – Credit information services
Category I – Credit Reference Agency

Businesses holding category A or B licence categories may also need to register with Office of Fair Trading under Money Laundering Regulations 2007.

If you need help in determining which licence category to apply for or assistance in applying for a consumer credit licence please visit www.scottrobertllp.com for professional support or contact Scott Robert LLP on 0844 736 5327