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consumer credit licence

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bonzo123 | 19:52 Sun 28th Oct 2007 | Business & Finance
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what is the situation with the office of fair trading and the granting of a consumer credit licence, in connection with someone who has an iva (individual voluntary arrangement with debts).Do they always refuse to grant a licence if there has been any financial problems, or is it only likely to be refused if the individual is actually bankrupt, as opposed to an iva?.
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They don't always refuse a licence to someone who's in an IVA - but they usually do. If an IVA has been going for 2 or 3 years and is well conducted throughout that time with no other issues then they may well take the view that your house in now in order. If it's more recent then I think there will be almost no chance.
13:12 Mon 29th Oct 2007

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