OFT gets tough and shuts down dodgy loan websites

Page last updated Monday, 11 April 2011

047-bootsOFT: OFT shuts unlicensed websites to protect borrowers  

The OFT today announced the closure of 19 unlicensed lead generation websites. Lead generation businesses source information from people looking for credit and sell this data on to other businesses. The websites targeted people with disabilities, those connected to the military and people with generally limited access to credit. An OFT investigation found they were unlicensed and therefore in breach of the Consumer Credit Act.

The websites below were found by the OFT to have targeted the more vulnerable members of our society who would normally experience some difficulty in getting credit from the mainstream lenders.

I’m just amazed they managed to continue without a Consumer Credit Licence, (CCL) for so long.

Before you enter any personal details on a lead generating website you should look for their;

  • Data protection policy
  • Consumer Credit Licence details
  • Postal address and telephone number
  • Complaints policy

You can check out whether an individual or firm is registered and in receipt of a CCL by clicking on this link Consumer Credit Licence Search  

You can also search the Information Commissioner’s Office to see if the same are registered here – Data Protection Licence Search.

The 19 sites subject to the OFT announcement are:

www.loansfordisabledpeople.co.uk

www.samedayloansforpeopleonbenefits.co.uk

www.militaryloans.org.uk

www.cashloansforpeopleonbenefits.org.uk

www.urgentloansbadcredit.co.uk

www.cashtoday.me.uk

www.cashpayday.me.uk

www.debitcardinstantloans.co.uk

www.cashloansunsecured.co.uk

www.loansforpeoplewithbadcredit.me.uk

www.samedayquickloans.co.uk

www.loansfordisabled.co.uk

www.unsecuredloansforpeopleonbenefits.co.uk

www.loansforpeopleondisability.co.uk

www.refusedaloan.org.uk

www.paydayinstallmentloans.co.uk

www.nofaxcashloans.org.uk

www.nofaxpaydayloan.me.uk

www.loansfortheunemployed.org.uk

 


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