Dodgy letter helploan?

Alex652

I'm new to the forums so I don't know if this is the right place to ask but here goes

This morning i received a letter addresed to me from a company called 'HELPLOAN'

The letter goes something like this

Dear sir/madam,

The agreed loan amount (including fees) £513.00

start date........ :29-08-2010
expirtion date... :26-06-2010

Your payment of 513.00 should be received by us before before 26-09-2010, it is important that you make payments into the following account

then information about the bank and account details

then website details and phone number

I've never used this company or asked for a loan. I presume this must be fraud but does anyone have any information for me?

abc1989

If you haven't applied for it, then ring the company up and complain

Common_Sense_2

i'd call them and find out how they got your details!

david39

Call them and find out - but make sure that you don't give them any more details other than those that are in the original letter.

No bank details and I suggest you withold your phone number when you ring them, too - I think that may be prefixing it with 141 when you dial.

Perhaps someone could confirm that or offer the correct prefix?

Edit ::::Another point - don't actually confirm to them that any details in the letter are correct - just give them the reference number off the letter and if they ask you "security questions" don't respond to them.

Debtfreeatlast_2

I am afraid your personal details have been used to take out a 30 day loan. Helploan and Balanceloan are both owned by MCO Capital LTD. They are finnish owned payday loan compaines.

I have had my Experian account viewed by them and I had a new additional account added for a 1 month term and amount of £300.

do a search of google of "helploan mco" and there should be a this is london news article and a Daily Mirror blog

anish

Hi Alex,

I have just recieved the same letter for he same amount £513, except received at a previous address. Letter got to me as previous address is family's place.

What was your outcome? Is this fraud? as it seems like it.

Alex652

I tried calling them but surprise surprise couldn't get through. Automated line. I'm going to send them a letter next and re-sign up to a credit refrence company. I tried Equifax but they need me to send security details through the post (not sure if that's because of the fraud used with my name?) I did a free trial with credit expert ages ago so I will try them. Does anyone know any other good ones to use? or any advice for me?

p.s Anish it's certainly fraud just google the company. I'm not sure how they got my details.

marcbeth

Just recieved the exact same letter through the post this morning and tried phoning but it rings out anyone else get the letter .

Debtfreeatlast_2

Well Experian have removed all trace of MCO from my file. Someone asked the aboutthe Experian connection. It is simply that MCO pay them for their service to check credit details, 99.9% of all lender will only use one of the three agencies for credit rating checks.

Now I will lay in wait for my "invoice" it seems too easy to have learnt about it, and resolved it within 7 days and before invoicing.

If you do a search for pay day loans on Google, one of the sites is advertising in the pay per click section. Which does suggest that they do some legit (as legit as a pay day loan company can be) business. Those that are pointing the accusing finger at the MCO accounts. It is a finnish company trading in the UK. To see if the funds are available you would need to see the holding company accounts. I do not think the listed US company is related in anyway.

As I said before, IF they are victims of fraud then they fully deserve it, their whole system is not fit for purpose and they have breached my privacy.

neilsumner123

I wrote to MCO and asked them to explain how this happened and confirmed that I owed no money. This was by registered post and a reply has not been received yet (ok its only 3 working days since they would have recieved it). Having checked the Action Fraud website they are asking everyone to report these Helploan frauds. So I did - you have to select the option ' bank is refusing to refund the money' to enable input of your details (this is probably because legally, banks are obliged to report the fraud). I now have a Crime Reference Number which makes me feel better.

Next is to deal with Experien as per previous Post - thanks.

neilsumner123

PS also agree with Debtfreeatlast that MCO deserve this. If you look at the Helploan site these loans are ridiculously easy to obatin: you only need a name and address. I could be wrong but supect that the account that the £300 goes into doesn't have to be in the victim's name - these loans are designed for poeple with no bank accounts. When you look at the fees they charge they are exploiting the unfortunate people in society with extortionate rates - they are doing what loan sharks do but under license.