As the adage goes A Stitch in Time Saves Nine, so is the CCL renewal advice. The maxim focuses on completing the work at time to avoid inconvenience. In the same way, it would be wise enough if the license is renewed beforehand as it may help in avoiding inconvenience.
Consumer credit license help is actually the provision of credit to the consumer by the companies or businesses in order to pay their debts to their creditors thus helping the consumers to get out of the burden of making payments in an effective way. Having a license by these companies is not only mandatory but also important for building the trust among the consumers. The CCL can easily be made in accordance with the OFT (office of fair trading).
This department is known for not only its terms and conditions but also for its rules and regulations. The license issued by the OFT is valid for 5 years or so and therefore it is imperative that it is renewed in time. While applying for the license issuance and its renewal, the company might face CCL application issues as well. So it is preferable to have a deep insight of the issuance procedure, the renewal procedures and the application issues as well. It is preferable to apply for the license renewal before the license expires because once the license expires, it is impossible to renew it. A new license needs to be made instead which would be subject to much difficulty, problem and time consumption.
Having done with the CCL renewal advice let us move towards the CCL application issues. The best way to tackle the application queries is to have hands on the official website of United Kingdom OFT. It is advisable to have proper guidelines of the way the application form should be filled. Firstly, the instructions should be completely understood.
It is important that the company has no doubts regarding the application. Secondly, it is advisable for the company to check out the list of businesses provided by the OFT for whom the license is mandatory. Once the company is sure about where it stands, the next step is the fee of the license. The company should have a crystal clear view of the fee payment required because the unawareness regarding the fee may create great problem in license processing.
Fourthly, the company must provide the OFT with the proper information about their business, names the company wants to include and the category of the license. Last but not the least; it is advisable to provide the bankruptcy and insolvency details as well. Following these set of instructions would help the company reduce the errors and mistakes which might lead to the rejection of the license issuance request, hence making the process much easier.