The Office of Fair trading has logged my complaint about two websites offering loans to young people that are apparently unregistered and unlicensed. The sites, loans for young people and loans for 18 year olds, do not seem to have a consumer credit licence – a legal requirement in the UK.
The OFT, along with local authority trading standards services, has a duty to enforce the law. It will take into account other complaints it receives about these sites. it won’t, however, disclose details of what action it takes. So the only thing we’ll see is whether the websites are still operating. Meanwhile, young people need to know to avoid any unregistered lender – whether an apparently friendly and helpful loan shark or a tempting website.
Feel free to add your complaint about these sites by emailing the Office of Fair Trading
