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 Posted: Wed Mar 21, 2007 6:59 am Subject: route 66 standard license |
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I received this from the OFT of London. Does this mean they can do business in the United States?
| Quote: | Our ref: E/Enquiry/36148
Freedom of Information Act 2000 (‘FoIA’)
Re: Payday Loan / Route 66 Funding and B.I.G. Limited
I am writing further to my colleague's correspondence of 6 March 2006. The OFT has now completed its search for the information you requested.
We have considered your request for information under the Freedom of Information Act 2000 (FOIA). Under the FOIA we have a duty to confirm the existence of information requested and to supply that information unless there are good reasons for not doing so, as detailed under FOIA.
In light of the above I can confirm that OFT holds information that is within the scope of your request. This information is held on the Consumer Credit Licensing (CCL) Public Register operated by the OFT.
We can disclose the following information :
Route 66 Mortgages, FJC Route 66, and Payday Loan London are trading names of FJC Route 66 Limited Registered Office address - 270 Kentish Town Road, London NW5 2AA. This company holds CCL Number 586106 issued by the OFT on 10 June 2006 and valid until 09 June 2011 and I have attached a PDF copy for your perusal.
The search on B.I.G Limited returned no current information.
Please note that the information provided by the OFT must not be taken as recommendation of this company. It is a matter for individual consumers to decide whether or not they wish to enter into any transactions with a business.
I hope this information is helpful.
Yours sincerely
Adesola Popoola (Mr)
Office of Fair Trading
Enquiries and Preliminary Investigations
<<FJC>> |
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YELIK1
Joined: 06 Dec 2006
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| Posted: Wed Mar 21, 2007 7:02 am Subject: |
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I would think that regardless of their license in another country, they would have to be licensed in each state they do business to do business in the US. To me that just means they are licensed to do business in the UK.
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goudah2424
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| Posted: Wed Mar 21, 2007 7:07 am Subject: |
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Yelik - in you letter to them did you ask them what if any complaints were filed against them? I seems that all this is is confirmation of a license and their right to do business.
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irish51cc
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| Posted: Wed Mar 21, 2007 7:08 am Subject: |
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That is what I thought to, but I thought I would ask. Does any know where to look and see what the laws are for payday loans in London? Just to see if they are abiding by their own laws.
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YELIK1
Joined: 06 Dec 2006
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| Posted: Wed Mar 21, 2007 7:10 am Subject: |
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I can't remember where I found them, it was 4 months ago, but I looked and UK laws are very similar to US laws regarding this kind of thing.
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goudah2424
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| Posted: Wed Mar 21, 2007 7:10 am Subject: |
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No, I did not, but I can email them back and ask. It takes them a while to respond. I think my original email was sent almost a month ago.
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YELIK1
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| Posted: Wed Mar 21, 2007 7:29 am Subject: |
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This is what the OFT emailed me back about doing business in the U.S
You will need to check with relevant United States (US) authorities to ascertain whether or not they can legally do business in the US. The credit licence is a requirement of the Consumer Credit Act 1974 which is a UK legislation and only applies to activities carried out within the UK.
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YELIK1
Joined: 06 Dec 2006
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| Posted: Wed Mar 21, 2007 7:55 am Subject: |
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Here is what I have found in my research: Any company in anothe country has to be liscensed in the US in order to do business here, they are also bound by the law of the person's resident state of whom they are doing business with (this is because if they do try to sue you they are going to sue you in your state not in their country therefore your states laws are the ones that will be followed)
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Leah
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| Posted: Wed Mar 21, 2007 8:04 am Subject: |
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It seems to me that I read somewhere a few months ago, and it could have been here, that some of these pdls were in trouble in England and that there was a place to register complaints against them. I think that the government over there is a bit mor aggressive in dealing with them than we are here in the US. I will have to go back and look through old threads.
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irish51cc
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| Posted: Wed Mar 21, 2007 8:54 am Subject: |
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OK here is the link to an article that was written in the UK regarding pdls. I found it in a thread here from December. Http://www.direct.gov.uk/en/moneytaxandbenefits/managingdebt/debtsanda rrears/dg_10035958
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irish51cc
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