MCO Capital loan

cornwall84london

Why would a company sell on a debt to a collection agency on the same day as the loan was supposedly taken out.Wierd business practice especially if they sell on the debt for pennies in the pound.

geomacl

davidbuk wrote: »

Yep Callcredit offered me a free check too as Experian had passed the fraud detilis on to them..... kudos to Experian I think.

Did you apply for the free check, David? Also did you add a Notice of Correction password?

geomacl

colinho wrote: »

It's very, very, weird. IJ (UK) are variously stated to be part of an in-house RBS operation, as well as clearly being part of a very large pan-European operation. Any brief internet search will bring up hundreds of people being harrassed by them, in a distinctly barely-legal way. They buy debt at low rates (10p in the pound is quoted), then chase for the full amount, using tactics which are simply dishonest. Including making "silent" phone calls three or four times a day, or leaving numbers to call back which appear to divert to premium rate numbers. They chase "statute of limitation" debts (i.e. older than 6 years), and according to some posts, they also ignore the law relating to credit card/unsecured debt (amendment to Consumer Credit act in 2007) without the prescribed information, which is now legally written off.
Rather worryingly, you can find a sneaky little government announcement dated 23rd September, stating that "HMRC to employ debt collectors to recover tax". Can you imagine the crowd (Tax Office) that seems to have managed to get virtually everybody's tax liability wrong, instructing a bunch of crooks to harass innocent people for non-existent liability? What chance do you have of persuading the government crooks that you don't actually owe them anything? What's the betting that IJ will figure large in this little scheme?
I for one, have nothing against companies trying to collect money they are legally due, but I do feel that there should be a mechanism in place to allow for incorrect, illegal, or barely-legal, recovery merchants to incur costs and damages, when they are in the wrong.
MCO may well be a scam on IJ - if so, they deserve each other.
The whole of Western "democratic" society stinks. We have rampant corruption from top to bottom, and the people who genuinely work hard all their lives to generate the wealth, are constantly abused by the system. It always comes as a shock to people, the first time they are the victim, how badly the system will fail them, and what sort of "bad guys" are lurking on the periphery, just waiting for an opportunity.
And it isn't going to change.

It sounds like you're having a bad day, Colinho??:cool: But I have to say that I agree with you - the financial systems/fraud/corruption etc going on around the world is an absolute disgrace - that said, it never ceases to amaze me the predominance of foreign sounding names behind frauds in the UK. It's long past time for the G20 or whatever to get a grip on this - in the UK we could divert our police for harrassing old folks for cutting grass outside their fences, stop acting as the personal enforcers for social services in child custody matters, and stopping massive security operations for football matches etc.
recently I experinced a credit card problem where some delinquents were trying to hack into my online account and get a cash payment. Fortunately, the credit card company were alert and stopped it but I had to get a new cc - that annoyed my wife no end as she had to stop spending for 7 days - no card. Every cloud and all that!! :T

geomacl

Interesting find on a web search re IJ Words in red highlighted my me

"In the first three months of 2009 (January through March), debt collection company, Intrum Justitia, has seen significant and unacceptable losses within its UK credit management services division. The company’s UK and Ireland division employs 230 people and is headquartered in Liverpool. The quarterly losses of Intrum Justitia increased by 60% and amounted to £880,000, while its revenues fell by 8% and reac!hed only £4.6 million. Lars Wollung, the president and chief executive of the Intrum Justitia company said that the purchase of debt operations is profitable as long as the Credit Management Services (CMS) segment is losing money. However, he claimed that the company cannot afford suffering those losses and will find and implement a solution in 2009. In an effort to eliminate losses in the sector of Credit Management Services (CMS), the company plans to focus on unprofitable clients’ contracts. Despite the fact that earlier this month the UK division of Intrum Justitia claimed that it wanted to expand its business across the United Kingdom by creating 100 more job sites, its plans were reversed. At the moment, Intrum Justitia UK says it has no intentions to expand. The news was announced just after its UK managing director, Chris Savage, resigned. Chris Savage blamed the company for diverged views on the managing strategy in the UK and Ireland. Despite its problems on the UK market, Intrum Justitia operates on 22 European markets and has increased its quarterly profits by 10% and its revenues by 17%, which now amount to £14.8 million and £84.4 million accordingly."

Prudence2_2

Getting mixed up in this scam has certainly opened my eyes to the things that go on in the world of loans and credit!

colinho

geomacl wrote: »

It sounds like you're having a bad day, Colinho??:cool: But I have to say that I agree with you - the financial systems/fraud/corruption etc going on around the world is an absolute disgrace. It's long past time for the G20 or whatever to get a grip on this - in the UK we could divert our police for harrassing old folks for cutting grass outside their fences, stop acting as the personal enforcers for social services in child custody matters, and stopping massive security operations for football matches etc.
recently I experinced a credit card problem where some delinquents were trying to hack into my online account and get a cash payment. Fortunately, the credit card company were alert and stopped it but I had to get a new cc - that annoyed my wife no end as she had to stop spending for 7 days :T

A wife that stopped spending for 7 days? Does Guinness know about this?
Possibly I may have sounded a trifle cynical in the last post, but believe me it's not a bad day, I've even stood for parliament (1997)! So this frustration and contempt is nothing new, it's a long standing result of a lot of experience and research I won't go into here. As I said in an earlier post, the rotten nature of the system is frequently counter-balanced by the sort of people - like yourself and OB, as well as the other contributors in this group, who do still show compassion, honesty, and a sense of justice. You would all therefore fail as MP's ;-)

geomacl

colinho wrote: »

A wife that stopped spending for 7 days? Does Guinness know about this?
Possibly I may have sounded a trifle cynical in the last post, but believe me it's not a bad day, I've even stood for parliament (1997)! So this frustration and contempt is nothing new, it's a long standing result of a lot of experience and research I won't go into here. As I said in an earlier post, the rotten nature of the system is frequently counter-balanced by the sort of people - like yourself and OB, as well as the other contributors in this group, who do still show compassion, honesty, and a sense of justice. You would all therefore fail as MP's ;-)

Oh dear Colinho - you made an effort to become an MP :eek: - what can I say. On the positive side, 1997 was before the expenses scandal broke (wind) and MPs still were considered to have a little integrity. I have had felt it necessary to write to my MEP, MP and army of MSPs (Members of the Scottish Parliament - rank amateurs all) in the past and it is obvious that they've all attended courses where they are taught how not to answer a question or to answer another question, which I hadn't asked!!! Now that I have 3 levels of representation (4 if you include councillors), there is a strong trait where they deny responsibility and suggest that I contact another level of politician - by which time, boredom sets in and another G&T seems to be the best solution!! :cool:

grahamqat

Well done Colin - think you've just said what most of us feel. About 80% of our phone/fax and e-mails to the office are scams. We're just trying to make an honest living (not easy in manufacturing) all these people expect to get something for nothing. And you're right there is little or no support from the authorities. We had a customer go bust on us owing money the other year. Companies House, DTI Investigations not remotely interested in the fact they traded insolvently and bounced cheques (which is fraud). Have to say though in this episode, AF have supported and offered help to the extent they are able to. I'm no sycophant but perhaps there is light at the end of the tunnel?

Oldbloke_2

Great posts you three! I agree whole-heartedly!

geomacl

Oldbloke wrote: »

Great posts you three! I agree whole-heartedly!

Hi OB - where have you been? We've missed your pearls today!!