MCO Capital loan

geomacl

Prudence2 wrote: »

Thanks everyone for sharing your experience. I am in the same boat and I'm really pleased I found this thread. I have received one letter, supposedly from Helploan, but actually from their agents Intrum Justica. I have registered the incident with Action Fraud and have received a CRN like many of you. The AF advisor told me that MCO were currently under investigation. However if they are a bogus organisation, how come they are co-operating with credit rating agencies to remove their searches from people's credit records? (eg post 473 from davidbuk)
I wonder if we are all linked in some way - in the same dataabse that has been hacked into?

Prudence
I don't believe that they are co-operating with credit rating agencies - I have been trying to have the MCO checks removed from my (impeccable ) rating since 21 September - without success and despite numerous phone calls!! Experian tell me that if they don't hear from MCO after 30 days, they will remove record. 30 days sounds very close to the "free" membership period of Experian??? Yes, I am a cynic!!!
Boy, but it's lonely on this forum at the moment

Prudence2_2

Thanks Geomac, sounds like MCO are being selective in their co-operation. Also I agree it sounds like Experian are trying their best to get you to extend your free trial!

Yesterday I requested a standard £2 credit report from Experian - it will take a few days to arrive so I don't know yet how this incident has affected my credit position. Can a check in itself be damaging?

Prudence

Wigw

Regarding debt collectors - I would be amazed if a debt collection agency accepted a debt from MCO Capital given that they would have little chance of collecting on the debt and hence no incentive to chase it. For bailiffs to be appointed a court order will be required - I doubt any court in the land would give award in MCO Capital / debt collection agency favour on such fraudulent loans.

Mike_the_worried_man

:beer:Thank you Old man and all the others. I have my CRN via the web site. Feel more confident now re bailiffs, debt collectors and all the other vermin out there. I am a rarity today perhaps but have never encountered any form of bad debt in my life. MCO Capital even had the wrong date of birth too. Thanks as well about the Experian 30 day offer scam; I shall cancel mine. Luckily I have CIFAS cover as part of my Marks and Spencer card insurance cover. Worth the £70.00 for three years credit card and Passport cover.

grahamqat

Hi Collin, that advice to Mike is spot on. The best you can do in this situation is get the written CRN and show it to anyone who attempts to collect debt. They wont have bought the debt unwhitingly, they will be part of the same fraud. Haven't heard of anyone with 3 letters yet, quite a few of us have 2. AF advised me that it wont come to debt collectors, they reckon it will be contained by the authorities way before that

Someone asked earlier why the fraudsters had bothered to contact Experian to remove credit checks, My guess is they did a lot of things like that (answered phone calls, replied to e-mails etc) because it was important to project the illusion they were the victims of fraud and not the cause. Whilst they were pulling this off, AF was not giving out CRN's, was asking people to contact MCO (more chances of ID theft etc), and more importantly they were still collecting revenue and keeping their bank account at HSBC open and free of investigation. They bought themselves several weeks of time and maybe a lot of revenue. Had they managed to retain this illusion, no-one even now would have a CRN and the debts would be esier to sell/collect.

The reason it took several weeks is that AF can only collect info and pass it on. It is then up to the police to decide the nature of the crime and communicate this back to AF. This all takes time. There wont be any point in the scammers continuing to do this so getting credit reports adjusted now may prove more difficult. Any info on this would be useful on the thread,

grahamqat

Hi Davidbuk, thanks for info on National Hunter. Perhaps not secret but secretive. They will allow acces from people to their credit status but charge the legal maximum of £10 as you say. They do however have databases that are not accessible and use a completely different model for calculating credit rating to others in the industry. Interestingly they are now part of Experian.

Oldbloke_2

Wigw wrote: »

Regarding debt collectors - I would be amazed if a debt collection agency accepted a debt from MCO Capital given that they would have little chance of collecting on the debt and hence no incentive to chase it. For bailiffs to be appointed a court order will be required - I doubt any court in the land would give award in MCO Capital / debt collection agency favour on such fraudulent loans.

Aah, but if you posted losses in the last financial year of over £(16,000,000.00), you might go to any lengths to recover.....

grahamqat

Sorry oldbloke, can you explain further please?

geomacl

Prudence2 wrote: »

Thanks Geomac, sounds like MCO are being selective in their co-operation. Also I agree it sounds like Experian are trying their best to get you to extend your free trial!

Yesterday I requested a standard £2 credit report from Experian - it will take a few days to arrive so I don't know yet how this incident has affected my credit position. Can a check in itself be damaging?

Prudence

Hi Prudence
NO - a check in itself is not damaging but there is a very slight chance that if you allowed this MCO check on your record to remain, it could (just very remotely could) result in a bad mark on your record if MCO stand by their loan entry on your account and it shows up as a non repaid/default loan. That said, the chances of that happening must be ZERO! I believe that Experian do not think much of MCO and the record of the MCO check will be romoved from your record.
I have taken the 30 day "free" trial and keep checking my record plus pestering Experian to remove the MCO check. I will also cancel any subsequent/first payment before the 30 days are up

grahamqat

Hi Geomad, now that AF believe MCO are the fraud and not the victims, there's not a lot of point in the fraudsters continuing the illusion by answering e-mails, phone calls, and co-operating with Experian to remove MCO credit checks. This may mean it is now more difficult to clear the MCO check from your Experian credit report. It would be interesting to know if this is the case, as it would confirm the current theory.