The letter, sent on behalf of one of Parkgate’s clients, included a threat of physical violence against the agent should they attempt to collect the client’s debts.
Parkgate apologised for its conduct and said that it did not intend to act on the threat.
However, the OFT concluded that the letter, combined with other failings to demonstrate the skills and knowledge required to run a consumer credit business, meant Parkgate was unfit to hold a licence.
As a result, Parkgate’s licence has been revoked.
David Fisher, director of consumer credit at the OFT, said: “Threatening behaviour is unacceptable. The letter Parkgate sent was inappropriate and called into question the company’s fitness to hold a licence.
“We will not tolerate behaviour of this kind as it is a clear breach of the standards we expect from licensed businesses. We have therefore taken the decision to revoke its licence.”
