OFT shuts 19 unlicensed lead generation firms
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The Office of Fair Trading has closed 19 unlicensed lead generation websites.
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 sites have now been taken down by the businesses concerned or shut down with the cooperation of the website hosts.
The OFT says it is continuing to monitor the situation to see whether the sites reappear with different web hosts.
It is advising consumers to think carefully before putting their personal details into any lead generation website. It says if this information is sold on, consumers may find they are subject to unwanted contact from a number of other companies.
David Fisher, director of consumer credit at the OFT, says: “Websites like the ones we have shut down target vulnerable people and those who may not have easy access to credit. We advise consumers to think carefully before entering personal data into any lead generation website, in case this information is passed on without their knowledge.”
The 19 sites that have been closed 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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Readers' comments (6)
Anon | 8 Apr 2011 11:42 am
A number of these websites are still active...
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Maurice Edgington | 8 Apr 2011 11:53 am
About time. On the matter of licensed lead generators I do believe the OFT should make sure that websites state that they are selling people's details to other firms because most people believe they are applying for finance to the firm whose website they are using. In my view the websites meet the absolute minimum licensing requirements.
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Mike Fitzgerald | 8 Apr 2011 11:58 am
So at long last the OFT have closed down the websites and companies that targeted the Disabled,the Unemployed and the members of our armed forces
lets all make sure that any other unauthorised firms are reported before they do any more damage.
Mike Fitzgerald-Sales director-The EMBA Group Ltd
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Luke Atkinson | 8 Apr 2011 12:11 pm
I still can't believe that licensed firms get away with charging 2000% APR??
I appreciate the majority of these firms aren't FSA regulated but surely there must be call for this?
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Steve | 8 Apr 2011 12:18 pm
It is not before time that the OFT who have been toothless for so long started to take their role seriously. It is websites like this that spoil it for the compliant brokers that do a good job, and help countless people arrange the finance that they are looking for.
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Suzanna Walker | 8 Apr 2011 2:57 pm
Most sites are American and three are British and still live.
One is a trading style of a licensed firm but does not have it on their trading licence.
So the OFT announcement is not very accurate.
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