MCO Capital loan

jahman

Story, on the BBC News website now: http://www.bbc.co.uk/news/business-11612214

So MCO reckon they've lost £1.5 million? Obviously, if that's the case, the company is run by a bunch of idiots. Giving loans out like that without completely water-tight approvals procedures was always going to be a recipe for disaster.

I think their business model stinks to high heaven anyway and they should be legislated out of existence but that's by the by.

Cheers,

jahman

geomacl

1953 wrote: »

Still convinced it`s a marketing ploy to get frightened people to sign up for Experian - £7.99 a month after the free period - remember and cancel

Having heard the BBC4 coverage today where Experian PERSUADED MCO not to take part makes me wonder about the relationship between the two organisations.:cool:

geomacl

jahman wrote: »

Story, on the BBC News website now: http://www.bbc.co.uk/news/business-11612214

So MCO reckon they've lost £1.5 million? Obviously, if that's the case, the company is run by a bunch of idiots. Giving loans out like that without completely water-tight approvals procedures was always going to be a recipe for disaster.

I think their business model stinks to high heaven anyway and they should be legislated out of existence but that's by the by.
Cheers,
jahman

Obviously a bunch of numpties jahman!!! Apparently all that was required was a name, an address, a DoB and a bank account number - then loan was on its way in 10 minutes!!!!!
Good to see the publicity increasing

grahamqat

Hi Eaglemar, with you all the way. Looks like MCO are the scammers to me. Set up web-sites designed to be applied for by ID fraudsters to sell on ID 's and debt. That's why the letters keep coming. Just ignore them, particularly if you've got a CRN. The MCO position is not credible. They are trading illegally, and still have only £100 capital? They haven't loaned a penny and that's why they didn't go on air today.

1953

grahamqat wrote: »

Hi Eaglemar, with you all the way. Looks like MCO are the scammers to me. Set up web-sites designed to be applied for by ID fraudsters to sell on ID 's and debt. That's why the letters keep coming. Just ignore them, particularly if you've got a CRN. The MCO position is not credible. They are trading illegally, and still have only £100 capital? They haven't loaned a penny and that's why they didn't go on air today.

Why then are 5000+ of us still getting grief and the authorities still have their heads up their ******
It this company still trading?
Why is the web site not closed down?

Unclepear

Please can everyone email bbc watchdog so that they will realise how widespread this is as apparently 8000+ people have been affected and it could get some air time to warn others and name and shame all parties involved. Clearly I have done this to tell them about MCO Capital, Helploan and Intrum Justitia. All together we can give them the positive power of the people!

geomacl

Unclepear wrote: »

Please can everyone email bbc watchdog so that they will realise how widespread this is as apparently 8000+ people have been affected and it could get some air time to warn others and name and shame all parties involved. Clearly I have done this to tell them about MCO Capital, Helploan and Intrum Justitia. All together we can give them the positive power of the people!

I contacted BBC Watchdog about 3 weeks ago as has at least one other forum member that I know of.

BraisbyI

I received my 3rd letter yesterday (Saturday) and obviously could not ring Justitia at the weekend, but I did ring my local police for the second time about this. The advice I was given was to ignore the letter they is no way they will start court action because they have no proof of who they made the loans to. I was also told that if they should send a bailiff (which the police don't think they will) I was to close the door and ring the police on 999 (we are childminders and have at least 6 under 5's in the house so the police would treat it seriously) and they will come running. I was also told that I could help any arguement by either ringing them on Monday or send a second letter to Justitia explaining again everything put in the first letter to MCO.
When I first called the police on the 6th October I was told that they are no longer giving CR's in this case and I was given a serial number and date.
Hopefully these people will go away soon, I have thought of countersuing for harrassment and maligning credit reference but I think this would just be an expence with no chance of getting anything back when this company just winds up and dissapears.
Ian

geomacl

BraisbyI wrote: »

I received my 3rd letter yesterday (Saturday) and obviously could not ring Justitia at the weekend, but I did ring my local police for the second time about this. The advice I was given was to ignore the letter they is no way they will start court action because they have no proof of who they made the loans to. I was also told that if they should send a bailiff (which the police don't think they will) I was to close the door and ring the police on 999 (we are childminders and have at least 6 under 5's in the house so the police would treat it seriously) and they will come running. I was also told that I could help any arguement by either ringing them on Monday or send a second letter to Justitia explaining again everything put in the first letter to MCO.
When I first called the police on the 6th October I was told that they are no longer giving CR's in this case and I was given a serial number and date.
Hopefully these people will go away soon, I have thought of countersuing for harrassment and maligning credit reference but I think this would just be an expence with no chance of getting anything back when this company just winds up and dissapears.
Ian

BraisbyI - Welcome to the forum.
I would strongly recommend that you go ahead and call IJ in Liverpool tomorrow - 0844 576 5731 - tell them that you never applied for such a loan and never received any money. Normally IJ will take your name off their database and you should not hear any more. I called IJ many moons ago and have not heard a squeak from them since. It is also recommended by AF/NFIB that you write to MCO c/o Intrum Justitia at their Liverpool address - see earlier posts or AF or NFIB web sites for address.
Your local police are confirming Action Fraud and NFIB's web site information in that CRN's are no longer being issued on this issue - it seems that CoLP have decided that MCO are the real victims - having lost some £1.5 million. This MCO claim is a bit suspicious but I have to defer to the "experts"!!
Good luck!

piglets3_2

I called IJ and they advised me my account is now blocked & they will not send any further demanding letters. Once investigation is completed by MCO they will be sending apology. They could not specify a time scale.