MCO Capital loan
Options
Comments
-
But this doesn't solve the problem of the CRAs giving out info when the personal details in the request don't match the personal details in your credit file.
It doesn't work like that. It's for the lender (in this case MCO) to go oh these details are wrong we unable to provide you with a loan. Experian and co are just a database of info, they don't make the decision. These searches have been done just to give some sort of veneer of genuineness to the fake applications.0 -
It doesn't work like that. It's for the lender (in this case MCO) to go oh these details are wrong we unable to provide you with a loan. Experian and co are just a database of info, they don't make the decision. These searches have been done just to give some sort of veneer of genuineness to the fake applications.
Hi David
I'm afraid I could not understand the second part of your first sentence!
I realise that Experian is just a database (it is for the loan company to decide whether to give you credit on the basis of the credit report provided by Experian), but surely Experian should not permit searches to be done with ID info that does not match the ID info they have on file. Or am I missing something?0 -
Hi Folks,
Not up-to-date with the current situation - haven't had time to read the last week or two. Apparently my father has received a second letter from Helploan which is to inform him that since he hasn't paid his loan another £213 has been added to the amount he "owes" making a grand total of £726.
I'm wondering if this is, in fact, MCO Capital trying to separate the wheat from the chaff, i.e. trying to catch up with people who did take out loans and haven't paid and separate them from those who've been the victims of the fraud. I would have thought that they would do better to liaise with the police.
I'm not sure what the advice is currently regarding subsequent letters but I will probably call ActionFraud tomorrow about it.
Cheers,
jahman0 -
Hi David
I'm afraid I could not understand the second part of your first sentence!
I realise that Experian is just a database (it is for the loan company to decide whether to give you credit on the basis of the credit report provided by Experian), but surely Experian should not permit searches to be done with ID info that does not match the ID info they have on file. Or am I missing something?
To be able to use Experian's database you need only the name address and dob to be correct. If other details the person you are searching on are wrong it doesn't affect your abilty to get their credit record from Experian. But it should make the lender (who is doing the search) realise the application they have received is potentially fraudulent.0 -
My theory is that it was a dodgy employee at some company selling it's database to some criminals. I had fraud committed on my current account the day before the MCO searches where done and from the speed at which Lloyds refunded my current account (2 hours, no questions asked) I assumed it was a dodgy Lloyds employee that had passed on my details. Are we all Lloyds customers I wonder? Possibly not but that's one thing we may all have in common.
Hmm, my father banks with Lloyds. The common thread?
Cheers,
jahman0 -
-
To be able to use Experian's database you need only the name address and dob to be correct. If other details the person you are searching on are wrong it doesn't affect your abilty to get their credit record from Experian. But it should make the lender (who is doing the search) realise the application they have received is potentially fraudulent.
I see. So if the loan company is crooked (as may be the case here) they can use readily available info (eg electoral rolls) to carry out fraudulent searches, and Experian's role is completely passive.0 -
That's exactly what I found on my Experian report - 2 checks - one generic and one specific to a £300 loan. I have since asked Experian to remove these MCo credit checks, which they have since done.I got my £2 Experian credit report yesterday - it shows 2 searches by MCO, both on the same date in early September. The first is marked 'Application type - generic check' and the second is marked ' Application type - personal loan. Amount £300 over one month'.
The search has been done with my correct name, address and d.o.b. but incorrect time at present address. I'm sure I recall some of you saying that searches had been done on your credit records with incorrect details (sometimes even d.o.b. not being right). Did you also have two checks on your report? Why did Experian release our credit reports to MCO even though the application information was incorrect?
Thanks - Prudence
I also looked at the other checks on my CRA report and found that utility,insurance etc. companies have done checks prior to accepting my monthly direct debit payment for gas and electricity, etc!!
Apparently if you look at small print on DDs this sort of check is standard procedure. :mad:
Where I have an issue is with the CRAs - who licences them, checks on them and by what authority do they operate???:eek:0 -
Agree with you 100%. Imagine the business Experian is getting as a result of this - I'm sure plenty of people will be signing up for their full service. I have gone for the £2 report as well but I'm not sure whether there's any way how to contact them if anything amiss shows up (the report hasn't come yet so I don't know what's on it).
Yep. You can essentially email them with any queries/corrections you may have. They won't speak to you on the phone unless you sign up for their bloody free introductory rubbish. I filled in the form last week and am still to hear back from them. I suppose I should've just signed up for the offer and cancelled it. Not happy!
Cheers,
jahman0 -
Jahman - the best advice is to do as you are planning and to have AF update your crime report with the new information - or even for you to update your record online if you choose - with your CRN and password you will be able to do this yourself.Hi Folks,
Not up-to-date with the current situation - haven't had time to read the last week or two. Apparently my father has received a second letter from Helploan which is to inform him that since he hasn't paid his loan another £213 has been added to the amount he "owes" making a grand total of £726.
I'm wondering if this is, in fact, MCO Capital trying to separate the wheat from the chaff, i.e. trying to catch up with people who did take out loans and haven't paid and separate them from those who've been the victims of the fraud. I would have thought that they would do better to liaise with the police.
I'm not sure what the advice is currently regarding subsequent letters but I will probably call ActionFraud tomorrow about it.
Personally, I would also call the number on this new letter (most likely an 0844 number) which will probably take you to Intrum Justitia in Liverpool - and explain that you know nothing of this loan and ask them to remove it from their files/database.
I note that our forum is closing in on 30,000 hits - and it's only been running for a few weeks!!!0
This discussion has been closed.
Categories
- All Categories
- 343.2K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.3K Work, Benefits & Business
- 608.1K Mortgages, Homes & Bills
- 173.1K Life & Family
- 247.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards