Group Debt Licence

It is a requirement of the Consumer Credit Act 1974 that any business or organisation that helps people with their debt problems must be licensed by the Office of Fair Trading (OFT).  Providing debt advice without a current Consumer Credit Licence is a criminal offence that could result in a fine or imprisonment or both.

Members of the AdviceUK network can apply directly to the OFT for a licence.  See the Consumer credit licences pages of the OFT website for full details.

However, AdviceUK holds a Group Debt Licence with the OFT, which states: -

"The group licence is in respect of all paid up members, full and associate, of AdviceUK, which are from time to time recorded in AdviceUK's register of names, but excluding those members who:

1. Make or require any charges, fees or commissions in connection with any of their business activities or
2. Have not 'opted in' (as recorded in AdviceUK's register of names) to engage in the ancillary credit activities set out on AdviceUK's group licence under the cover of AdviceUK's group licence, to carry on the business of:
D2 Non-commercial debt adjusting
E2 Non-commercial debt counselling
H3 Provision of non-commercial credit information services (including non-commercial credit repair)."

A copy of the licence can be found at the bottom of this page.

Provided that the criteria above are met, members can therefore apply to AdviceUK to be added to our Group Debt Licence.  This is a much simpler and less time-consuming process than applying directly to the OFT.

If you would like to apply to be added to the AdviceUK Group Debt Licence please email membership@adviceuk.org.uk or call 020 7469 5700 and ask to speak to a member of the Membership and Marketing team.

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