MCO Capital loan

geomacl

grahamqat wrote: »

Thanks for help/advice folks. Have logged both letters with AF. and the loan reference was the same in both cases. This doesn't look like ID fraud to me. The total loaned capital is estimated at >£8 B. MCO dont have access to such funds so the loans probably do not exist. This means the letters are probably the fraud, and that if the criminals get just a 0.1% hit, they've made £8 M. It's quite conceivable that older people without Internet access may repay out of fear of debt collectors etc. People who suspect their partners have taken out a loan might also repay to avoid future problems. We're talking about 1 in 1000 people - not very much. Be slightly wary in contacting Experian by the way. They say they need your credit card details for a free service. Fact is they dont; only your address.

WOW!! Who estimated loaned capital at £8 billion??? I had never thought of those folks without internet access and associated ability to find fori (is that plural of forum?) like this. Experian comment noted - I mentioned this to them and they assured me that I was totally secure - bo**ocks!!

colinho

geomacl wrote: »

WOW!! Who estimated loaned capital at £8 billion??? I had never thought of those folks without internet access and associated ability to find fori (is that plural of forum?) like this. Experian comment noted - I mentioned this to them and they assured me that I was totally secure - bo**ocks!!

Not sure where the £ 8 billion has come from - that would mean 26,000,000 payday loans at the max of £300 ? at even £ 1,000,000 the SFO are supposed to get involved, and I believe that they do have the power, and possibly even the will, to tackle criminals.

geomacl

colinho wrote: »

Not sure where the £ 8 billion has come from - that would mean 26,000,000 payday loans at the max of £300 ? at even £ 1,000,000 the SFO are supposed to get involved, and I believe that they do have the power, and possibly even the will, to tackle criminals.

£8 billion came from post 358 grahamqat - sounds a lot??

colinho

geomacl wrote: »

£8 billion came from post 358 grahamqat - sounds a lot??

Wait a minute - how much was George Osborne looking for.......
http://images2.moneysavingexpert.com/images/forum_style_1/icons/icon7.gif

geomacl

colinho wrote: »

Wait a minute - how much was George Osborne looking for.......
http://images2.moneysavingexpert.com/images/forum_style_1/icons/icon7.gif

Well done colinho - you have solved the UK debt problem - singlehanded!! What a star!!!:T

colinho

geomacl wrote: »

Well done colinho - you have solved the UK debt problem - singlehanded!! What a star!!!:T

What if he'd already thought of it .......

silenthunter178

well i have had two cheap looking letters asking for £513,i have taken action stated on this forum , i also contacted BBC watchdog, i would love to see an investigation into this buisiness, you can e mail them there must be thousands of victims, if everybody did this we might get some action.

grahamqat

The £8 B figure comes from the loan value x number of recipients. Number of recipients has been estimated by posts/views etc across a wide number of forums and info from AF. It is an estimate, but remember, fraudulent repayments will be a very small percentage, so to make the scam work the initial numbers have to be big. Also consider the cost to bankroll this operation is approx £12 K. This comes down to about £3 K if postage never gets paid. A quick look at the envelope your letter came in will answer this one.

geomacl

silenthunter178 wrote: »

well i have had two cheap looking letters asking for £513,i have taken action stated on this forum , i also contacted BBC watchdog, i would love to see an investigation into this buisiness, you can e mail them there must be thousands of victims, if everybody did this we might get some action.

I, too, have contacted Watchdog - BUT expert on such programmes on this forum tells us that it could take months for any such expose to reach the TV screens :mad:

Tom_Violence

Going to mail off my MCO letter in the morning, is the Bressenden Place address the best one still to use ?