MCO Capital loan

BLT_2

geomacl wrote: »

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:

I suspect Experian are in bed with a substantial number of organisations, however I am glad they are around. Reading the posts from the Experian rep on these boards as she or he weasels around any questions they are asked is great entertainment :rotfl:

mahoneyg

I've also had the letter, mine was form Helploans ( part of the MCO group) asking for £513 plus £213 late payment fee.

I rang action fraud this morning, and they've logged it. Seems daft that MCO have given out so much money withour doing proper checks.

alan_se

Seems daft that MCO have given out so much money withour doing proper checks.

I spoke to MCO (followed by a letter) in early August having had 'loan' letters dated late July - so the credibility of online fraud was highlighted to them about 12 weeks ago. A neighbour did the same.

Either :

1. they were (and maybe still are) using a computerised and/or unsupervised loan processing system, or
2. are astonishingly incompetent as a business operation, or
3. making so much money that a few fraudulent applications are an acceptable risk, or
4. somehow in on the whole thing, or
5. some combination of the above.

Seriously I'm hopeful this incident is all being put to bed, but of more concern to me now is what is going to stop it happening again ? I've mentioned before on this forum that I already had CIFAS protection and a password-protected Notice of Correction in place, neither of which helped - and would not stop the same fraud going through again.

Changes must be made to the way Experian and all the credit agencies administer our personal data (and not by building yet another business on the back of it).

grahamqat

Hi Alan - theory number 4 I think is nearest the mark. When you look at the web-sites they seem designed to attract ID fraudsters. This then does the work for MCO who pursue victims for non-existing loans after already making £60,000 on the 2 off SMS messages. I don't think there is any evidence that they have given a single loan. whereas there is evidence of a small number of victims that have paid their demands. MCO seem to be doing a good job giving the NFIB the run-around but they have had 2 years to prepare this scam. They do incidentally still have a non-trading SIC code but no-one will be interested in pursuing this

geomacl

BLT wrote: »

I suspect Experian are in bed with a substantial number of organisations, however I am glad they are around. Reading the posts from the Experian rep on these boards as she or he weasels around any questions they are asked is great entertainment :rotfl:

Hi BLT - who is the Exerpian rep? Is he/she on this forum?

geomacl

mahoneyg wrote: »

I've also had the letter, mine was form Helploans ( part of the MCO group) asking for £513 plus £213 late payment fee.
I rang action fraud this morning, and they've logged it. Seems daft that MCO have given out so much money withour doing proper checks.

Hi mahoneyg - have you called the 0844 IJ number (or even written to them in Liverpool) to advise them that you never applied for nor have been paid any money in relation to this alleged loan? Doing this should help ensure that no further letters are received.

geomacl

Alan_se and grahamqat
I share your concerns - this audacity has been going on for far too long now and it's time we saw or heard of some action being taken by NFIS and/or CoLP. It's absolutely amazing that having a claimed fraud based loss of some £1.5 million, that this company is still offering such loans. There would seem also to be a far too cosy relaionship between MCO and the CRAs.:mad:
Come on the reps from these organisations who are watching this site - time for some action or explanation or better still, both!! They must be around - there have been over 200 hits (now 550!!!) to this forum since this morning and only about 4 or 5 contributors!!!!:money:

Cheritage

I have received my third demand for payment on Saturday, this time from Intrum Justitia. I have tried to call them today and they are experiencing technical difficulties on their phone lines!!
I have followed all of the advice and sent recorded delivery letters, reported the fraud to the Police, contacted the credit agencies etc and I AM STILL BEING HARASSED. Why should I have to spend so much time effort and expense to clear my name? Please can someone explain to me how MCO is allowed to lend money in my name on such scant information. I hold MCO 100% responsible and can't believe they have not been shut down.

geomacl

Cheritage wrote: »

I have received my third demand for payment on Saturday, this time from Intrum Justitia. I have tried to call them today and they are experiencing technical difficulties on their phone lines!!
I have followed all of the advice and sent recorded delivery letters, reported the fraud to the Police, contacted the credit agencies etc and I AM STILL BEING HARASSED. Why should I have to spend so much time effort and expense to clear my name? Please can someone explain to me how MCO is allowed to lend money in my name on such scant information. I hold MCO 100% responsible and can't believe they have not been shut down.

Welcome Cheritage - many, many contributors to this forum share your frustration - and are disappointed at the slow investigative process.
Have you sent a letter to IJ at their Liverpool address (see post 814) as is now being recommended by Action Fraud and NFIB? Phoning has shown to be effective but if the phones are down, that option is presently removed. I managed to call IJ (in the presence of a policeman) at their 0844 number about a month ago - they blocked my account there and then and I have heard no more since - other than an email from Niklas Furu requesting that I write to them again at their Imperial House address and also that I contact Experian and Equifax (hmmm - in cahoots??).
Good luck in contacting IJ - they seem to be the ones doing all the letter writing in MCO/Helploan's names.

belnotphist

I've received 3 letters, the first 2 from Helploan and the 3rd "debt recovery" one from Intrum Justitia (received on Friday 2 days after the 2nd one from Helploan!).

Just phoned IJ (using 0151 472 7155) and could not get them to block the account immediately. They said I need to write to them and sign and date the letter to get it blocked.