MCO Capital loan

grahamqat

Hi Geomacl - Thanks for that. Any legal opinions obviously welcome here. I will get some legal opinions tomorrow, but I dont want to do more than this without Jahman's involvement. It's his (really good) idea, and he may already have a legal thing going. Did some more research though and seems this is "Demanding money with menaces", so £1000 fine (per crime) and 14 years (max) does apply. This is now the biggest problem facing MCO. If you would like to discuss "settling out of court", you have your intermediary MCO - just post here. This situation will accelerate very quickly now, once the compensation lawyers taste blood, they will be incredibly hard to stop.

jahman

grahamqat wrote: »

Thanks for that Pru... never thought for one minute you were a mole! I'm no lawyer, but if you consider the letters sent as demanding money in a menacing manner, then this has been illegal. It is reinforced by the fact that Shropshire Police report some have actually repaid money that they didn't owe. I'm confident we can get a legal compensation claim going, but will not do this until Jahman gets back as it was his idea, and he may already have investigated this. How's your Dad by the way Jahman? Hope he's doing OK. I can get a few legal views on this tomorrow, which I can feed back, but will only proceed with Jahman's agreement and consent. What would be useful right now is a feel for the compensation victims feel they should be entitled to. You could work this out on a cost (Experian etc) plus time element, or may be some people had to have time off work? Jahman typifies a case where serious damage could have been done and therefore a serious claim should be considered. Any input from anyone appreciated, including compensation lawyers looking for early retirement! With 10,000 potential customers, this is a huge opportunity.

Hi Graham,

My Dad seems to be doing much better now, thanks for asking. The only problem really is how long he is likely to be in hospital. It could be weeks as he's waiting for a bed in rehab. He spent around 9 months of last year in hospital so you can be sure he's not enjoying it now.

I haven't done anything with regard to solicitors. I was only thinking in terms of getting the local solicitor to act for him if he thought it was worthwhile.

If you're happy to make some enquiries with regard to what is possible then feel free. I probably won't do anything myself until my next visit to my Dad's when I can go in to the solicitors' in person. I don't think they'd be the type of firm to handle thousands of claimants though.

I imagine that that there will be various firms who would quite enjoy the prospect of this kind of thing though.

Cheers,

jahman

Robie_Nudd

grahamqat wrote: »

Just done some research - with good lawyers this could be "demanding money with menaces". Lots of legal precedents for this. Fine is £1000, max sentance 14 years.

Sorry to come back so quickly when I said I wouldn't. The "demanding money with menaces" charge would normally relate to blackmail whereas the legal gateway for the sort of thing that has occurred here would be, I suggest, The Administration of Justice Act 1970 - there is a useful factsheet/discussion on this on the Insolvency Helpline website. Can't post a link as I haven't enough posts on here to do that.

Here's the relevent section:-

Section 40 of the Administration of Justice Act
“S40 Punishment for unlawful harassment of debtors.

1. A person commits an offence if, with the object of coercing another person to pay money claimed from the other as a debt due under a contract he-
   • harasses the other with demands for payment which, in respect of their frequency, or the manner or occasion of making any such demand, or of any threat or publicity by which any demand is accompanied, are calculated to subject him or members of his family or household to alarm, distress or humiliation;
   • falsely represents, in relation to the money claimed, that criminal proceedings lie for failure to pay it;
   • falsely represents himself to be authorised in some official capacity to claim or enforce payment; or
   • utters a document falsely represented by him to have some official character, or purporting to have some official character which he know it has not.

I assume incidentally that a company can be prosecuted under this Act as well as a person.

grahamqat

Thanks Jahman- Glad to hear your Dad's doing OK. I lost my Dad this April. Can't do anything about that, so hence I'm interested your Dad's doing OK. Will Investigate the legal aspect tomorrow, expect a big interest when you consider the numbers involved and the CRN's issued which mean confirmation of crimes committed. Initial interest shows legal people suggest we go for "Demanding money with menaces", We're going to get a lot of legal companies wanting to represent us in this, so watch this space.

grahamqat

Hi Robie - thanks for that - lawyers will I'm sure use your info to pursue all directions, there will be a huge compensation claim coming soon, will keep all updated.

geomacl

Hi Robie - many thanks for your input and guidance. Very helpful:T

Eaglemar

I would support a compensation claim using one of those no win no fee type solicitors.
In my case though its mostly been time spent on sorting the mess out as have used work phone and email to contact IJ. 1 credit report query with Equifax for £2, and a stamp to send off a form to Experian.
I suppose time wise I have spent the best part of a day researching online and on here, filling out online forms for Experian and AF. Depends how much money in the eyes of the law time is compensated for I suspect.

geomacl

Eaglemar wrote: »

I would support a compensation claim using one of those no win no fee type solicitors.
In my case though its mostly been time spent on sorting the mess out as have used work phone and email to contact IJ. 1 credit report query with Equifax for £2, and a stamp to send off a form to Experian.
I suppose time wise I have spent the best part of a day researching online and on here, filling out online forms for Experian and AF. Depends how much money in the eyes of the law time is compensated for I suspect.

We need to be more imaginative Eaglemar - I have contacted my local MP to ask for his advice on how to maximise and exaggerate my expenses!!! :rotfl:
I have also set myself up as an Identity Fraud consultant and charging my time out at £100/hour - will have to register as a sole trader with HMRC though!!

grahamqat

Just saw this on "Thisismoney" web-site 03/11/2010:

"The fraud is believed to have cost Help Loan about £1.5m, but it still appears to be offering loans, with its website boasting: 'No paperwork or faxes are needed and you can apply while sitting on your couch. The application process takes only ten minutes. The loan will be paid straight to your bank account.'

Read more: http://www.thisismoney.co.uk/credit-and-loans/loans/article.html?in_article_id=517577&in_page_id=53937#ixzz14FQ0Ugbh"

So nothing has changed. If you have a phone book to hand you can apparently get £300 free in ten minutes straight into your account. Also, IJ are cancelling their contract for MCO debt collection end Nov. MCO have to be making not losing money to continue with this. Would appreciate an explanation Robie.

On another note, will get "no win no fee" compensation dialogues going tomorrow with any interested parties. Note the hourly rate advice Geomacl - thanks.

Zinor

I have received the below email from the Furu character. Has anyone else had this email?

This was after I emailed them stating that I considered the matter closed, due to my 4 letters to them (all recorded delivery) and reporting the matter to the police.

I have no intention of speaking to this IJ company unless I really have to.

I can't believe I have been singled out for personal correspondence by this person, so just interested if he has sent this more widely than just me...!

> Date: Mon, 1 Nov 2010 17:34:33 +0200
> From: niklas.furu@rtffinance.com
> To: xxxxxxxxxxx@hotmail.co.uk
> Subject:
>
> Dear Recipient,
> Could you contact our debt collection agency, Intrum Justitia, to put
> a halt to the collection process.
> Regards,
> Niklas Furu
> MCO Capital
>
>