MCO Capital loan

Debtfreeatlast_2

grahamqat wrote: »

You will undoubtedly get further letters whatever you do, which will get increasingly more aggressive. We can only hope that the Fraud squad act quickly in closing this scam down before it gets out of control and involves more debt-collecting companies etc.

I have asked this many time has anyone having contacted Experian been pursued by MCO Capital? As far as I can tell the information required to take out a Payday loan if fairly freely available on the internet.

As my user name suggests in the past I have had debt problems and my Experian, Call Credit and Equifax accounts are all clear now but I would imagine they are fairly unique in one way, and because of this uniqueness I know for a fact one check this company does not do enables them to be exposed to this fraud. For all I know all payday loans might be the same and not make this fundamental check, netherless in my opinon it is very sloppy lending at best.

bridggar

Has anyone actually had any form of debt recovery letter from these crooks? I still maintain my stance that if the letters were emails, you'd simply delete them and forget about it.

I see the "Action Fraud" quango have revised their advise to what it should have been initially - still yet to recieve a call back from them.....although I'm not surprised. If they aren't a quango - are they funded by Experian & co? (just a thought)

grahamqat

Hi Debtfreeatlast, just been talking with AF to get my Crime Reference Number and can update you as follows:

Early on, AF thought that MCO was a genuine loan company that had been defrauded by ID thieves. At that time they would not give a CRN as no crime had been carried out on the letter recipient. This has all changed a few days ago. When you contact them now they ask a few questions to make a report, then allocate a CRN to you. This means that the letter is the potential fraud which is trying to scam £513 from you. They pass their report on to the Police and say there is no need to contact them direct. They take a contact number in case the police want to get any info from you. .They inform me the matter is being investigated, and that you need take no further action, just ignore anything that MCO/Helploan/Balanceloan send. They also tell you not to contact MCO by any means.

Sure you may want to check your credit rating and take out other security measures, but rest assured these loans are mythical. If you haven't already done so, contact AF to get your CRN. Dont key option 1 wait for a reply. Although this scam is creating a mountain of work they answered my call very quickly. - Good Luck

geomacl

bridggar wrote: »

Has anyone actually had any form of debt recovery letter from these crooks? I still maintain my stance that if the letters were emails, you'd simply delete them and forget about it.

I see the "Action Fraud" quango have revised their advise to what it should have been initially - still yet to recieve a call back from them.....although I'm not surprised. If they aren't a quango - are they funded by Experian & co? (just a thought)

Not sure that I would describe AF as a quango - they are a recognised organisation which provide the public interface with and are partners with the NFIB - see:
http://www.nfib.police.uk/our-partners.html
I have not received any debt recovery letter

geomacl

Debtfreeatlast - you ask "I have asked this many time has anyone having contacted Experian been pursued by MCO Capital? As far as I can tell the information required to take out a Payday loan if fairly freely available on the internet."
I have contacted Experian (see post 410) and they have tagged the MCO enquiries on my account and placed a Notice of Correction requiring a password which I provided before allowing any future checks. I have not heard anything from MCO since contacting Experian

Debtfreeatlast_2

I contacted Experian, a notice of correction was placed, and within 7 Day MCO had told Experian to remove it from my file which it has been all within 7 days. SO far I have not had any letters or invoices as I was made aware of the search and loan on my Experian file by dint of having a Credit expert account. I cannot see it as identity theft, as it is really basic information being used. There must be a common denominator amongst us surname starts with the same leter or postcode etc..

I just do not see what MCO are gaining from this? Not that I am an expert in Fraud. And as far as I am aware no one is being pressured or threatened yet. They are not scalping any more information than they already had?

geomacl

Debtfreeatlast
I too would dearly love to know who is making money from this and where the money is coming from - the only possible sources are folks who have paid the £513 without recourse to help (can't be very much, surely?) or MCO have sold a ficticious debt book to a debt collecting agency??

Oldbloke_2

As some posts refer to Balanceloan, perhaps we're all going to receive letters from another debt agency that's been scammed.

If anyone who's received a letter from Balanceloan can give the bank details on their letter, we'll know if it's the same accounts that Helploan gave out, or if they're new ones.

The letters aren't the scam. The letters are sent by the debt agency trying to recover what they have been told are legitimate loans. As I've posted before, I think that they are the real targets of this fraud.

geomacl

I believe that you may well be correct OB

geomacl

What's going on? Forum has gone all quiet - have I missed an announcement re the demise of MCO or whatever - or is it simply that boredom has set in??