MCO Capital loan

wattywattwatt

Tarn-totty wrote: »

Hi ..

I too am distressed and upset after receiving a letter this morning from a company called HELPLOAN. The address on the back of the envelope is a PO Box 7182 in Harlow. The letter is dated London, 20 August 2010 and says I have to pay £513 before 17 September 2010.

There is a number on this letter which I rang. When I said I had not taken out any loans or even heard of this company, the person at the other end (it sounded to me like a call centre) said it was fraud. He quoted the date of birth, last 4 digits of phone number, last 3 digits of bank account and email address all used to obtain this loan - all are incorrect. The only details that are correct about this is my name and address. My marital status was also wrong.

I was told to go to the Police and get an incident number and ring them back with this incident number. I went to the main Police Station in Barnsley, who called this company saying that they could not give me an incident number as doing so would mean I have accepted liability for this debt - the fraud has been carried out against Helploan and not against me so it is Helploan's responsibility to report the fraud. Incidentally, I was the 2nd person to call into my local police station with one of these letters within that hour. I also spoke to an Inspector who said I had to write a letter to this company asking to see copies of the loan application/signature used to take out the loan in my name.

I have been upset all day regarding this, it has made me ill but am pleased that others are in a similar situation as me and I am not the only person to fall victim. Unlike others on this forum, I have not been victim of credit card fraud before and am not listed in the telephone book. We shread all our personal details and am extremely careful - I don't even use my name in email addresses or on forums - as you can see! Can't see how this has happened and hope that it will be the end of it when I don't pay by 17 September. It has made me feel a little bit better to know that it appears to be a scam but I'm still worried that bailiffs are going to turn up at my door as apparently this amount they are quoting doubles every month.

I will update my situation once I have sent off the letter that the Inspector at South Yorkshire Police told me to send. Hope that will be the end of it.

Thank goodness for these forums! I am in an identical situation to you having received one of these letters this morning, but when I called them they said DON'T contact the police as their fraud dept would deal with it. Guess what I did next, just waiting for the police to get back to me to decide what my next move will be.

Bells16

I too got the MCO letter on saturday,I have just rung them and the guy marked it as fraud.He said i would not get any confirmation and this would be the end of it....still not convinced

CaptainSmirnoff

I have also received a demand from Helploan/MCO Capital Ltd for £454 which is a £300 loan for 20 days which they quote the interest rate as 937% which, for me, makes them guilty before we start. Even if they have been targeted by identity thieves they are just robbers. The letter was dated London 24 th August 2010 and received on the 8th September 2010. In it they make reference to a debt collecting agency which is not in keeping with the Office of Fair Trading guidelines.

I also feel that to open hundreds of bank accounts in other people’s names for £300 is totally impractical and I just can't believe that is what has happened. If it hasn't then MCO are at best guilty of gross negligence and need stopping.
Whatever the truth is I feel that there is a good case to claim compensation from them, not only for the time spent dealing with this entire mess but also the upset and stress that has been caused by their irresponsibility. I don’t know how to go about it personally and feel it would be better to do on mass.

It is worth remembering that the people contributing to this web site are not the vulnerable type but just imagine the damage that could be done to say a pensioner who doesn’t have access to the internet. I am also sure that some people may pay the money in fear of the escalating costs.

Incidentally the last 4 digits of the bank account that the money was transferred into was 5068

We_Laugh_Indoors

Hey just wanted to add my name to the list of people stung by this. Just to save a lot of confusion, what is the best course of action to take?

klflosser

Despite having spoken to MCO Capital and being told on 7th September they couldn't find me on their system (despite them searching against my credit record on 25th August) I have today received my letter with repayment details! £513 in total. The loan agreement was dated 25th August.

We_Laugh_Indoors

klflosser wrote: »

Despite having spoken to MCO Capital and being told on 7th September they couldn't find me on their system (despite them searching against my credit record on 25th August) I have today received my letter with repayment details! £513 in total. The loan agreement was dated 25th August.

exactly the same as mine.

We_Laugh_Indoors

Just as a bit of further info for everyone, the MCO Capital credit searches are on my experian credit report. They also got my data of birth wrong when doing the searches, a point i will be making in my letter to the company.

esieens

Response from MCO to my emails:-

"Dear Sir,

You recently informed us that you did not receive a loan from MCO Capital. The first step you should take is to contact a credit reference agency to alert them of this matter, one agency is Experian to report that an individual is using your Identity to fraudulently obtain credit. If they have used your Identity with MCO Capital, they may be using it elsewhere.

The next step is we will need to receive this concern in writing accompanied with the invoice to the address below. When this is received, we will take the next steps in regards to this matter.

MCO Capital Ltd.
Innovation Centre
Gallows Hill
Warwick CV34 6UW


Identity theft is a serious problem for both you as a consumer and companies who grant credit as we both lose. As you may be the victim of identity fraud elsewhere, we urge you to further investigate this possibility. There are several websites available with information to help a victim of Personal Identity Fraud and what to do in these circumstances. .

Please accept our apologies for any inconvenience this may have caused you. Should you require anything further, you may contact me directly at the below email.


Kind Regards,

Niklas Furu
MCO Capital Ltd.
"

Wales64

I am also a victim of this scam. I was just about to send a letter to MCO Ltd but a thought came to me - should I sign it with my usual signature or not? I am worried that once this company has my signature it may be used for more fraudulent activties. Am I being paranoid now?

Winston123_2

I am in the same boat, I recieved a letter today demanding £513.00 , I have just e mailed them. Richard