| By law most businesses in
the practice of lending money to consumers must be licensed by the Director General
of Fair Trading. With loans up to the amount of £25,000 you will be protected
by the Consumer Credit Act of 1974.
You can obtain details of every business that holds a license, has applied
for one, had one suspended, terminated or altered in the Consumer Credit Public
Register. You will be provided with basic information for free but may have to
make payments for additional services.
You can make an enquiry by telephone or post or by visiting the office itself,
between the hours of 10.00 and 16.00 on working days.
Telephone: 020 7211 8608 (Office hours 09.00 to 17.00 Monday to Thursday, 09.00
to 16.30 on Friday.)
Office of Fair Trading,
Consumer Credit Licensing Bureau,
Craven House,
40 Uxbridge Road,
Ealing,
London W5 2BS.
It is important that once you have taken out a personal loan that you keep
an eye on things to make sure that everything is happening properly and as it
should. You must keep a copy of your credit agreement for your records. Make frequent
checks on your bank transactions to make sure that any direct debit or standing
order payments have been made as they should. Contact your loan provider if you
have any queries about your personal loans.
If you feel that you have been treated unfairly or require any legal advice
or otherwise then you should contact your local Citizens
Advice Bureau. The website provides information about the organisation and
how to locate your nearest branch.
Read more about UK personal loans
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