MCO Capital loan

cantdecide_2

Hi
After having received this demand letter and read this post extensively I am very confused (it doesn't take much) about what to do next.
Would it be possible for somebody to give me a definitive course of action to follow.
Many thanks in advance for your help.

geomacl

cantdecide wrote: »

Hi
After having received this demand letter and read this post extensively I am very confused (it doesn't take much) about what to do next.
Would it be possible for somebody to give me a definitive course of action to follow.
Many thanks in advance for your help.

The first thing to do it to write a letter to MCO Capital - I would suggest the Warwick address (which you will find in one of the above posts. In the letter state that you "did not apply for nor request this loan - and that this is the first you have heard anything about it". Consequently, you will NOT be making any payment - mention that you have referred the matter to your local police and local Trading Standards organisation. In fact, threaten them with the wrath of the devil!!!!. remember to include their loan reference number as the subject of the letter (you could also attach a copy of the MCO demand letter?) Send letter recorded delivery
Then I would recommend that you email customerservices@helploan.co.uk - if possible, attaching a copy of the letter you sent. State the same things as in the letter and threaten fire and brimstone again.
It might also be appropriate for you to give your local Trading Standards officer a call and to record the problem with the police.
Good luck

cantdecide_2

Thanks for that geomad, I will be on the case first thing in the morning.
Do you also think it is worth contacting Experian etc ?

geomacl

cantdecide wrote: »

Thanks for that geomad, I will be on the case first thing in the morning.
Do you also think it is worth contacting Experian etc ?

It could be worth your while contacting Experian but it will cost money and you will simply confirm that MCO have contacted Experian to verify your credit record.In my case, I found that MCO had done 2 checks - one so called "generic" and the second in relation to a loan!! The only advantage of contacting Experian is to get them to remove the MCO check from your record - not simple!!! I have done this but Experian tell me that it could take up to 6 weeks as they have to "get MCO's permission" - what a farce?????? I have also asked Experian to establish a password for my account so that anyone attempting to view my credit record must produce a password - that could cause delays but better than screwing my credit record!!!

dmaddock21

I emailed MCO (twice) after a spurious repayment request letter from helploan and got a reply today from a scandinavian address saying they were looking into fraudulent loan applications, so if like me you have a demand for repayment but have not requested a loan it may be worth mailing to MCO to point out no contract exists and you have no intention to pay.

Oldbloke_2

I'm not sure that I'm going to respond to them at all. If you sign a letter you've just given them more ID, and they know that your details are correct. I'm only going to contact Action Fraud and complain to them about MCO.

We know that the company is trading illegally, why worry, they'll never take you to court.

geomacl

Oldbloke wrote: »

I'm not sure that I'm going to respond to them at all. If you sign a letter you've just given them more ID, and they know that your details are correct. I'm only going to contact Action Fraud and complain to them about MCO.

We know that the company is trading illegally, why worry, they'll never take you to court.

When I sent my letter I DID NOT actually sign it - just added "sgd" after my typed name!!!!!

caverncaperer

I got this report from the OFT consumer credit search re MCO. I've had to write this somewhat phonetically as a new user I cannot post the actual link itself. Good luck working it out:

double u double u double u DOT s-cons DOT co DOT uk forward slash misc forward slash MCO_Credit_Licence_from_OFT.pdf

Don't include the spaces and the PDF filename is case sensitive.

They are definitely an overseas company and appear to have a Finnish company registration, Prossimo Investments. Again the Kingsway address is listed but no mention of Warwick or the Portland addresses. Their stated business is cheque cashing, I don't know if this permits them to lend money as well.

I've contacted Experian regarding the search that was performed by MCO, as the duration that was stated I had been at my current address in the search was totally incorrect. This also shows how poor Experian are - surely their systems should hold the average duration you have lived at any one address, made up of the duration from each search against that address. The MCO duration sticks out like a sore thumb amongst the rest.

colinho

Oldbloke wrote: »

I'm not sure that I'm going to respond to them at all. If you sign a letter you've just given them more ID, and they know that your details are correct. I'm only going to contact Action Fraud and complain to them about MCO.

We know that the company is trading illegally, why worry, they'll never take you to court.

Be careful - you are assuming that our justice system will prevent you being screwed illegally, by a fraudulent company. If you don't put in writing your denial of the debt, MCO could conceivably get away with getting a court order for recovery of the debt. Don't for a minute think that couldn't happen. This scam is on a monumental scale, and the people behind it seem to have the ability to talk our regulatory authorities into believing them. There are people like geomaci on this forum who have done a lot of calling and researching to all our benefits, but read the posts that go "I contacted the police/trading standards/etc. and they won't do anything."
In other words, protect yourself, nobody else is going to.
Go to your local Police Station, report it, and get (don't take no for an answer) an incident number; also ask for a fraud investigation.
Follow the advice about writing a letter, copying the Helploan letter, to as many addresses for MCO as you can find, denying liability. Send Recorded Delivery, and then copy the letter & attachments and send via e-mail, with delivery notification checked.
Then, and only then, will you have "discharged your responsibilities" as fas as a court and subsequent debt collection actions are concerned.
Finally, make sure that you do contact Credit Reference Agencies, to get rid of MCO searches. Also, complain to the credit reference agencies that they have accepted searches on your account from a fraudulent company (listed as non-trading at Companies House), as they will almost certainly have used incorrect details, such as dob or time at address.
You should also email your MP right now, demanding action, as a system which leaves you exposed to fraud, with police and other authorities walking away from protecting you, and allowing a shyster shark operation like this to operate illegally, is a truly corrupt system.

geomacl

caverncaperer wrote: »

I got this report from the OFT consumer credit search re MCO. I've had to write this somewhat phonetically as a new user I cannot post the actual link itself. Good luck working it out:

double u double u double u DOT s-cons DOT co DOT uk forward slash misc forward slash MCO_Credit_Licence_from_OFT.pdf

Don't include the spaces and the PDF filename is case sensitive.

They are definitely an overseas company and appear to have a Finnish company registration, Prossimo Investments. Again the Kingsway address is listed but no mention of Warwick or the Portland addresses. Their stated business is cheque cashing, I don't know if this permits them to lend money as well.

I've contacted Experian regarding the search that was performed by MCO, as the duration that was stated I had been at my current address in the search was totally incorrect. This also shows how poor Experian are - surely their systems should hold the average duration you have lived at any one address, made up of the duration from each search against that address. The MCO duration sticks out like a sore thumb amongst the rest.

Sorry but your link was not at all amusing!! It took me to a cheeky jokey picture!!!!!