CCP1 - Credit Competence Plan

CCP1 is a stand alone document which is required by the OFT when applying for certain high risk activities. For example debt management firms will be required to complete this form as well as the many mortgage brokers who provide advice on re-mortgaging where debt consolidation is involved.

The CCP1 application requests more in-depth information from the firm including relevant knowledge and experience and the systems and controls that are in place. It is important that the responses are accurate and sufficiently detailed to help obtain approval by the OFT. Supporting documents will be required and usual checked during a trading standards visit prior to any decision being made.

 

The CCP1 form will need to be completed if you apply for:

    • Category F  Debt collection
    • Category E  Commercial debt counselling
    • Category D  Commercial debt adjusting
    • Category H  Commercial credit repair

 

How we can help

We can help provide support and advice completing the CCP1 form. We can check draft applications, edit and correct responses to meet the standards expected by the OFT. After submission of the application the OFT are likely to raise further questions and may also request supporting documentation. We can help by providing suitable document templates and tailoring these to your individual requirements, providing ongoing support until a decision is madeĀ… and beyond!

 

Benefits of using H3

    • Prevents unnecessary delays caused by incomplete applications being submitted.
    • Reduces the number of additional questions the OFT are likely going to ask following submission.
    • The OFT expect firms to have monitoring and support and recommend use of third party compliance involvement to monitor the firm following approval.
    • A range of template documents you may need such as training guides, scripts, compliance procedures manual etc.
    • A greater chance of your application being approved as we know what the OFT expect firms to have in place initially and on an ongoing basis.
    • We can also provide compliance monitoring post-licence issue including checking files, call recordings, issue and checks of miscellaneous registers (advertising, complaints etc), staff training and competency records, client accounts and client money records.

 

For a no-obligation quote please contact us or complete the online enquiry form.

 

Sitemap

H3 Consultancy Ltd ©