Consumer credit licence cover

The Society holds a Group Consumer Credit Licence covering the activities of all its members. 

Extract from the licence certificate:

The Office of Fair Trading in pursuance of the powers conferred upon it by the Consumer Credit Act 1974 hereby grants a group licence to:

The Law Society of Scotland, 26 Drumsheugh Gardens, Edinburgh EH3 7YR

The group licence is in respect of all solicitors who, for the time being, hold a practising certificate which is in force issued by the Law Society of Scotland under section 14 of the Solicitors (Scotland) Act 1980, or whose certificate, so issued and in force, expired by affluxion of time under section 17(3) of that Act within the preceding calendar month, to carry on the business of:

A Consumer Credit

C Credit Brokerage

D Debt-Adjusting

E Debt-Counselling

F Debt Collecting

G Debt Administration

H 1 Provision of credit information services (including credit repair)

This group licence is limited to activities arising in the course of practice as a solicitor and it is valid for a period of 5 years until and including 2 February 2015.

The OFT offer guidance for those involved in this area of work. 

General information from OFT.

Guidance from OFT.