MCO Capital loan

Oldbloke_2

Morning all

I have been reading the recent posts with great interest, and am grateful that Robie, GomerPyle and those I already know are continuing to scrutinize the available information.

I think it is important to remember that some of us had password protection, CIFAS warnings , wrong DOB's, wrong 'time at address' etc. in the MCO searches.

If MCO was legitimate, surely they would not have continued with a transaction with these inaccuracies and 'supposed' protection attached to individual's files? I'm still not confident that MCO are a victim in any sense of the word.

I've figured out how my ID was obtained....anyone remember the panic and confusion as to which companies had to register when the Data Protection legislation was brought in? I got caught by a scam then, and since, have had nothing but trouble.

Interestingly, I've now received a letter from CallCredit which tells me quote "Your information has been forwarded to us as part of a data sharing arrangement between the three credit reference agencies..." Maybe they only share information with Experian....Equifax have already confirmed to me that they do not share information with the other CRA's.....any thoughts? I'm still waiting to hear from Experian about having removed the MCO searches from my file....not that I'm particularly bothered by this.

Prudence2_2

Oldbloke wrote: »

Interestingly, I've now received a letter from CallCredit which tells me quote "Your information has been forwarded to us as part of a data sharing arrangement between the three credit reference agencies..." Maybe they only share information with Experian....Equifax have already confirmed to me that they do not share information with the other CRA's.....any thoughts? I'm still waiting to hear from Experian about having removed the MCO searches from my file....not that I'm particularly bothered by this.

Hi OB, if you contacted Experian to tell them you were a victim of ID fraud, Experian will have passed this on to the other two CRAs, Equifax and CallCredit. They will offer you a free copy of your statutory credit report (at least that;s what happened to me) so you can check that there is nothing dodgy in the records they hold about you.

So Experian is sharing the data that you have been a victim of ID fraud, but they are not sharing your financial details or credit history.

Hope that helps - Pru

Prudence2_2

grahamqat wrote: »

There was and still is no evidence that MCO ever paid a single loan.

Hi GQ, when I first got my letter from Helploan, I Googled them straight away and came across a money blog where a woman had posted that she had applied for a loan from Helploan and she was worried because it had not come as quickly as they had said it would. Then she posted again half an hour later to say that the money had come through. The posts were made back in August. So they probably did give out at least one real loan - in addition to the 10,000 bogus ones!

Debtfreeatlast_2

The costs involved in setting up 9000 dodgy Bank account would be enormous, time consuming and I would guess if they "were" UK clearing banks impossible. Even to add your name to a UK clearing Bank account you have to present yourself at pre defined branch with at least thre ids and one of them Photo. If this had happend, and if they were capable of this then why only target a low level lender? If they had enough false id to open 9000 accounts why just go for £300 hits. Surely this level of id for opening a bank account would open up much higher return longer game scams?

I am 100% sure that they have not done it in my name as the account would appear in my Credit report, if not directly it would be in known connections?

Also they would need at least 5000 false id as there would be cross referencing between the Banks

grahamqat

Thanks for that - fellow conspirator! I think I've seen the same thread at some point. Perhaps recent events have made me a bit synical but it always seemed with this scam that MCO (intentionally or not) caused the whole chain of events which followed. Robie is still convinced that the official ID fraud line is correct, and I respect that, but it does seem to raise more questions than it answers. For instance, opening 9.000 independent bank accounts? Possibly buying 9,000 different PAYG sim cards? Two months after the first frauds were discovered, the notice is put on the Helploan and Balanceloan web-sites? This seems a long time to wait while you are still losing money. I'll sign off now as I expect Gomer will have a view on Robies posting.

geomacl

Chris55 wrote: »

What would be interesting would be for the police to obtain the list of telephone numbers and bank-accounts then these could be investigated (e.g. when opened, what other transactions have been made, what other numbers have been called etc). However I'll bet that information has never been held in the UK, nor will be provided by MCO.

Chris55. From the snails pace of the investigation of this fraud, you may well be spot on re where the information on the loans is held - including bank accounts etc. If this data was held here, this investigation would have been over long before now.:mad:

geomacl

Debtfreeatlast wrote: »

Even to add your name to a UK clearing Bank account you have to present yourself at pre defined branch with at least three ids and one of them Photo. If this had happened, and if they were capable of this then why only target a low level lender? If they had enough false id to open 9000 accounts why just go for £300 hits. Surely this level of id for opening a bank account would open up much higher return longer game scams?
Also they would need at least 5000 false id as there would be cross referencing between the Banks

As you correctly say, Debtfreeatlast, this part of the suggested fraud system sounds highly implausible - setting up a new account for a £300 fraud is simply daft.
The plot thickens!!!

Eaglemar

While typing up my email to Experian to get the MCO entries removed off my report. I noticed that in the entries it has my time at current address wrong. And not just a few months wrong, but quite a number of years wrong!
With some of the other entries on my report showing how long I have actually been at my current residence, you would have thought Experian would have picked up on the discrepancy and asked questions/stopped the loan from going ahead.

Oldbloke_2

Prudence2 wrote: »

Hi OB, if you contacted Experian to tell them you were a victim of ID fraud, Experian will have passed this on to the other two CRAs, Equifax and CallCredit. They will offer you a free copy of your statutory credit report (at least that;s what happened to me) so you can check that there is nothing dodgy in the records they hold about you.

So Experian is sharing the data that you have been a victim of ID fraud, but they are not sharing your financial details or credit history.

Hope that helps - Pru

Thanks Pru.

I'm a member with Equifax, and have had no contact from them....yet. I'll keep you posted, but I think Experian and CallCredit are connected, are they not?

Prudence2_2

Eaglemar wrote: »

While typing up my email to Experian to get the MCO entries removed off my report. I noticed that in the entries it has my time at current address wrong. And not just a few months wrong, but quite a number of years wrong!
With some of the other entries on my report showing how long I have actually been at my current residence, you would have thought Experian would have picked up on the discrepancy and asked questions/stopped the loan from going ahead.

I found the exact same thing. When I asked Experian why they did not stop the search, they said it was not their responsibility. Apparently it is up to the searcher (ie MCO Capital) to decide whether to go ahead and grant the loan.

I think this is wrong. If the CRAs are making money out of our credit histories, they should have a responsibility to flag up mismatches between the data being used for the search and the data they hold on file. Even better, we should be allowed to forbid searches to go ahead without our prior permission.