MCO Capital loan

Eaglemar

I seem to have had a result from the email I sent Intrum Justicia as I just received this email reply from them. Here is the reply I got from them just as I am typing out a letter. I presume that now means I dont have to send the letter!

Dear Mr *****

Thank you for your communication.

I can confirm that Intrum Justitia Ltd are only acting on behalf of MCO Capital to collect the repayment of loans taken out by their customers. The details you have provided have been updated onto our system and will be reported back to MCO Capital. Intrum Justitia will not be contacting you again in respect to the collection of this outstanding balance.

However, any further concerns you may have in respect to this account will have to be taken up with MCO Capital directly.

I would like to thank you for bringing this matter to my attention and if you require any further assistance, please do not hesitate to contact me


Kind Regards,

Tracey Smith
Quality and Compliance Supervisor

MyName_2

Hi Eaglemar - That's exactly the same email I got from Tracey Smith!

Looks like a standard email they are sending out!

Eaglemar

Well in a court of law emails can be submitted as evidence, so that standard email confirms they have accepted what we have written and the matter should be closed.
It wasnt an immediate reply either so suggests they arent automated.

geomacl

grahamqat wrote: »

If they have paid any money out at all, you may find these accounts are owned by MCO or MCO/personnel. That way they leave a partially legit paper trail that will appear OK to the NFIB, and it doesn't cost very much. You could in fact pay all £1.5M round in a loop then sell the debt on to IJ for £150,000? Just speculation, but it's a comforting thought that IJ might have been stung.

You could well be correct grahamqat- but where are they actually making any money. Surely there cannot be too many people who have actually paid back £513??:cool:

CHR15

geomacl wrote: »

but where are they actually making any money. Surely there cannot be too many people who have actually paid back £513??:cool:

I guess the same could be said about junk mail. Who actually responds to these ridiculous offers compared the amount they spend on printing & distribution?

It must be worthwhile for them or we would get no junk mail pouring through the letter box everyday.

geomacl

Welcome MyName and thanks for sharing your experiences - it looks like there's a means of getting IJ to confirm the contents of the phone call with them without the hastle of writing yet another letter.
I still have my doubts as to whether MCO is the victim here - it is surely not standard practice to have a debt collector involved in debt recovery activities within days of a loan being taken out (as opposed to the loan repayment being due)?
My letter was received some 18 days after the alleged loan was made and due to be repaid 10 days later - the letter was headed "HELPLOAN" but the telephone number was IJs 0844 number - so why would I be required to call a debt collector when the alleged debt was not even due to be repaid when the letter arrived?
Is it the case that MCO immediately sell on the debt to IJ (at the nominal loan value plus a few pounds), hence MCO get their fictitious loan repaid plus a small margin (from the charges/interest - £213 - component of the £513) from IJ? This would make IJ (or their insurance company?) the loser.
End of today's theory;)

geomacl

CHR15 wrote: »

I guess the same could be said about junk mail. Who actually responds to these ridiculous offers compared the amount they spend on printing & distribution?
It must be worthwhile for them or we would get no junk mail pouring through the letter box everyday.

Good point CHR15 - but hey, I buy all my Xmas presents from junk mail catalogues:rotfl:

piglets3_2

Thanks All,
Looks to me like IJ are just passing it all back to MCO. Next advice will be we will have to contact MCO again & reiterate we did not take out any loan. we will be going round in circles. IJ informed me bank name & last 3 digits of account loan was paid into- Its not RBS - Eaglemar ( well at least thats what they said). Also I have same problem with MEM CF, fraudulent loan taken out in my name ( double unlucky I guess). Asked them for bank details & they told me it is against Data Protection Act to give me that information. Any ideas?

Eaglemar

piglets3 wrote: »

Thanks All,
Looks to me like IJ are just passing it all back to MCO. Next advice will be we will have to contact MCO again & reiterate we did not take out any loan. we will be going round in circles. IJ informed me bank name & last 3 digits of account loan was paid into- Its not RBS - Eaglemar ( well at least thats what they said). Also I have same problem with MEM CF, fraudulent loan taken out in my name ( double unlucky I guess). Asked them for bank details & they told me it is against Data Protection Act to give me that information. Any ideas?

Guess they must be using more than 1 bank account then to make the loans look genuine.
As far as I am concerned since I have had a reply from IJ who are the only party likely to turn up on our doorsteps, the matter is over and MCO can wallow in their seriously poorly run company.

Experian_company_representative

All three credit reference agencies provide free assistance for victims of ID fraud and we work together to help people set the record straight. So far more than 1000 victims of the MCO fraud have sought and received help from our Victims of Fraud team. Anyone who's been affected by this and has yet to contact us should get in touch at [EMAIL="identityfraud@uk.experian.com"]identityfraud@uk.experian.com[/EMAIL].

As far as Money Box is concerned, let me just clarify that I didn't agree to be interviewed twice at all. What they didn't mention is that I been helping them all week, that I provided full written responses to all their questions and actually offered to find them some case studies. I couldn’t personally get to a studio for this because of a family incident and existing commitments, which they were fully aware of. Also, we didn't tell MCO not to do an interview and we clarified this as soon as we became aware of the misunderstanding.

James Jones