MCO Capital loan

colinho

geomacl wrote: »

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??

It seems that MCO stood for "Mandelson, Cameron, and Osborne";-)
There's only two kinds of quiet - one is when the party is over, and everybody has left, the other is the lull before the storm. Place your bets now - but I'm still thrilled with the idea that the debt collectors have been collected. I've had another email from Niklas (clearly not the Saint), acknowledging receipt. Of what, I'm not sure.
Suspect that actionfraud website will be the first to post a definitive statement, but this has been a real eye-opener, and several valuable lessons learned. To be honest, MCO may have done me a favour, as they've demonstrated some lamentable holes in the system, which somebody could have exploited to serious effect. Think it's terribly sad, how once again, when the "real people" look for police help, it's not there.

grahamqat

Hi OB plus others. As I posted earlier, I spoke with AF this morning and they said they got it wrong earlier on. MCO/Helploan/Balanceloan have not issued a single loan to an independent third party that can be verified. The ID scam illusion that AF went for bought MCO some time to get a few £513's from people not on the internet, scared, confused etc. AF until last week thought that letter recipients were not victims so would not issue CRN's. This has all changed. They are now asking people to contact them for CRN's. Reports are being sent to the Police to help them in their investigation. It is not legal for them to issue a CRN unless you are the fraud potential/victim. They tell you not to contact MCO or the police, as the report will be forwarded. I think the scam works on 3 levels as follows:

The fraudsters that hijacked MCO company name placed the web-sites that are mainly for ID fraud. (All require name, address, DOB, bank details - say no more). Also, there is a requirement for 2 off £3 SMS's for a loan applicant. All ID info can be sold on, SMS is direct revenue, there may even be some genuine loan applicants - triple wammy - SMS revenue, application that can be sold to debt collector, the possibilty of making £213 in one month.

With the application for a loan so easy, people were bound to use some ID fraud to get one - again saleable info. As a spin-off, many people have been referred to Experian for credit checks. They're no stranger to fraud, settled out of court to many customers in the USA some years ago. As reported on this forum, their web-site has been hacked and may install a Trojan on your PC. (Mc Afee virus scan picked this up on mine).

Final advice from AF is to ignore any letters/threats, just get your CRN from them. Don't contact MCO, you'll only give them more info to sell on.

Oldbloke_2

Hi grahamqat, geomacl, colinho, and all,

I've been reading all the posts over the past couple of days, but haven't really had a chance to post...been sailing!

Thanks for the concern geomacl about the Trojan, but I only use Mac's, and we don't seem to have to worry about such threats. I don't have to run any additional antivirus software, just use the Mac security. I think the geeks that produce such things work on PC's and are generally trying to target Microsoft, so they won't affect a MAC....or so I'm told by our IT people.

I looked at the AF website today and the statement from NFIB suggests that MCO are a Finnish company. Curious? I know our friend TUOMO MAKKI is the sole director, but it's definitely a British company. Are they just trying to point the blame elsewhere? I would expect that their CCL has been revoked....that was always going to be the easiest way to stop them being able to get checks with Experian, and I'm thankful that I've not sent any correspondence to MCO, even at their registered office.

I think the important thing is to contact the debt agency if a letter arrives. They probably think the debt is genuine, so if you ignore it, further letters are bound to come....?

I don't think anyone should worry about Bailiffs knocking on the door. In fact, I'd quite relish the opportunity if they did turn up to ask them for the Court papers and then tell them to get stuffed and sod off!! They couldn't enter your premises without a Warrant and a Police Officer, and I could shove a copy of my CRN email in their face as well!! (Rant over..)

To throw the cat amongst the pigeons for those interested in developing other theories, I've found a couple of interesting details about Gothia and Intrum Justitia.....Gothia seem to have bailed out very early on and how the debt passed to Intrum Justitia is anyone's guess, but they must have been pretty clever to realized something was a miss.
Gothia had, @ 31.12.2009, Net Assets of £2,044,773.00. A very healthy company by the looks of things....
Intrum Justitia had, @ 31.12.2009, Net Assets of.....wait for it.....£ (16,704,000) Yep that's right a £16M loss!!!! I suspect that they only manage to keep trading by being bailed out by their Swedish parent company, and BTW they have a £0.00 credit rating themselves! Perhaps the healthy one thought they could get rid of some of the competition? Perhaps there are more to come...chasing us through Balanceloan?

Anyway, I'm certain this is the "end game"; whether its the beginning or the end is another question, but it doesn't really matter whether we get more letters or not. With the support, advice, and banter that has developed between those of us who post frequently, we can deal with whatever's thrown at us. Thanks all....and keep posting!

grahamqat

Hi OB. Once you've got a CRN you're as protected as you can be against debt collectors. You can only legally get a CRN if you have been assessed to be the victim or potential victim of a crime. AF suggest this is the best you can do to help them and you. They monitor this site so thanks to P**L and L** for all your help and support. Please read as many posts as possible, then you'll keep up OK! Joking aside you're on the right track now, many people thought that MCO was real and had been scammed as they set up such a good illusion. Just look again at those letters though - Helploan cant even run to a colour cartridge in their inkjet! and have to resort to printing their own envelope frank! MCO dont even know their own post code? Please treat us potential victims with some respect.

grahamqat

Sorry OB, forgot to ask, have you had a nice few days sailing? I haven't done a right lot just stayed in.

grahamqat

Seem to be talking to myself tonight. Never mind, not much on TV. Just went on Companies House web-check and found under MCO Capital:

Accounting Reference Date: 31/12
Last Accounts Made Up To: 31/12/2008 (FULL)
Next Accounts Due: 30/09/2010 OVERDUE
Last Return Made Up To: 15/01/2010
Next Return Due: 12/02/2011

Well well well - didn't have time to get your accounts in then?

Oldbloke_2

grahamqat wrote: »

Sorry OB, forgot to ask, have you had a nice few days sailing? I haven't done a right lot just stayed in.

Thanks for asking grahamqat,

Yes we had a great time. Dinghy racing on the Thames in 20 knots on Sunday.....Really blew the cobwebs away....we were screaming along! There's a four knot speed limit for motor boats, we were doing nearly three times that.....a real buzz.

Oldbloke_2

grahamqat wrote: »

Seem to be talking to myself tonight. Never mind, not much on TV. Just went on Companies House web-check and found under MCO Capital:

Accounting Reference Date: 31/12
Last Accounts Made Up To: 31/12/2008 (FULL)
Next Accounts Due: 30/09/2010 OVERDUE
Last Return Made Up To: 15/01/2010
Next Return Due: 12/02/2011

Well well well - didn't have time to get your accounts in then?

I'm still here! I said last week that their accounts were due, but as many companies file at the end of September, I understand it could take up to two weeks to update the information...

grahamqat

Wind power wins then - that sounded great fun. Dont be too protective towards MCO. I think in either direct or indirect hijack mode, they represent the crime. There's not a lot of difference between legal and illegal companies. Anyone can set up a company, anyone can use a trading style (different name to company), Companies House dont police anything, they just want revenue. DTI Investigations branch are just as powerless and disfunctional. Important thing is keep your CRN ready just in case you get a visit. Dont think you will as AF advise "this will all blow over". They didn't get everything right straightaway but listened and reacted accordingly and have a reassuring and professional manner. I trust them (dont know why they needed my DOB?) and think things will work out. In case thet dont, I'm going to steal my own identity so no-one else can!

bridggar

Well, for all you Action Fraud sycophants.....still waiting my call back. Perhaps if they shut down this quango I might retain my child benefit – the only benefit I get….