MCO Capital loan

grahamqat

Thought that would bring some replies in. Forum's either quiet tonight or I'm missing something fantastic I don't know about on TV. Don't think it's the Sunderland V Everton match. Something big on Corrie perhaps?

Prudence2_2

grahamqat wrote: »

Thought that would bring some replies in. Forum's either quiet tonight or I'm missing something fantastic I don't know about on TV. Don't think it's the Sunderland V Everton match. Something big on Corrie perhaps?

Ok GQ, just to stop tumbleweeds blowing across the empty forum , let me reply by saying that personally I would not describe MCO Capital and Government quangos as criminal scum. My adjectives of choice for MCO Capital are greedy, reckless and negligent. My adjective of choice for the OFT is ineffective. I'm sure we all have our own favourite words!

geomacl

grahamqat wrote: »

Thought that would bring some replies in. Forum's either quiet tonight or I'm missing something fantastic I don't know about on TV. Don't think it's the Sunderland V Everton match. Something big on Corrie perhaps?

We're all busy filling in our CoLP forms and awaiting news of OFT rescinding MCO's credit licence!!

Not many posts but we're still getting about 1000 hits per day?

GeorgeEliot

geomacl wrote: »

...awaiting news of OFT rescinding MCO's credit licence!!

And I'm waiting to see the "industry-wide code of practice" the OFT recommended for payday lenders. (Ironically, just a few weeks before the whole MCO thing started.)

Google "No cap on payday loan interest rates, says OFT" and "Doorstep and payday loan lenders escape interest rate cap" for more info.

Prudence2_2

GeorgeEliot wrote: »

And I'm waiting to see the "industry-wide code of practice" the OFT recommended for payday lenders. (Ironically, just a few weeks before the whole MCO thing started.)

Interesting point! Does anyone know if a code of practice is legally binding or is it just a set of recommendations that can be ignored by companies like MCO Capital?

geomacl

GeorgeEliot wrote: »

And I'm waiting to see the "industry-wide code of practice" the OFT recommended for payday lenders. (Ironically, just a few weeks before the whole MCO thing started.).

I'd just like the OFT to actually do SOMETHING - like Prudence2, I wonder if a code of practice would be sufficient? Such codes tend NOT to be respected/followed by the chancers and the less reputable!!:cool:

GeorgeEliot

Yes, doing something would be a good start!

woodywyc

Well, my letter from City of London Police said there will be regular updates on Operation Galloway on their website. No sign of it yet. When I googled "operation galloway" the only hit was this excellent forum. And yes, their witness forms were utterly mystifying and I've told Inspector Perry Stokes so!

geomacl

woodywyc wrote: »

Well, my letter from City of London Police said there will be regular updates on Operation Galloway on their website. No sign of it yet. When I googled "operation galloway" the only hit was this excellent forum.

Neither is there any mention of it on the CoLP web site - must be a secret operation?

grahamqat

It seems the OFT are OK with incompetent loan sharks; time to decide if we're OK with the OFT. A lot of people view this thread, if we feel the OFT is not doing its job, time to say so the monitors can judge. If you're looking in and you're from the Government, the OFT aren't doing anything and should be axed as soon as possible. You can save a lot of money here and no-one will notice the difference.