ToothFairy/Paycheckcredit/Speedcredit

[renegadeimp]

http://twitter.com/#!/stellacreasy

 

http://www.workingforwalthamstow.org.uk/

 

[email protected]

 

https://www.facebook.com/pages/Stella-Creasy/7916859303

 

020 8521 1223

 

23 Orford Rd, Walthamstow, London, E17 9NL

[TheLetter7]

I ended up with a loan with SpeedCredit, but I was trying to use a site named "Uncle Buck". Anyone heard of them? It's confused me, because I filled out the form at Uncle Buck website, and the was forwarded to the SpeedCredit site where I gave them my back details [without realising it was a different site].

It was only after recieving a text from them that I realised it was a totally different group.

No I've got NDR and AMS both trying to collect the same debt, both threatening legal action...

 

How can I find out their licence number? And what other organisations are named under Toothfairy?

 

These people need to be dealt with NOW. Effectively, they're killing hundreds of people with their threat letters, causing panic for people in impossible situations...I hope they die!

 

[sorry for the aggresiveness but they make me so angry]

[renegadeimp]

Hmm. interesting. So uncle buck now seems to be part of the toothfairy group. UNLESS speedcredit are acting as an unlicensed broker.

 

You MUST report this to the OFT. Mention the fact that they already have complaints about toothfairy and speed credit, and you now have reason to believe uncle buck is involved too. Toothfairy and sub companies already have restrictions placed on them.

[TheLetter7]

I'll definately be reporting this.

What does it mean for clients if Speed Credit ARE acting as an unlicenced broker...?

I do have a copy of their licence number (xxx xxx), which was taken from their website, but it's basically identical to the one on Help Loan (xxxxxx/1) [they've stopped giving loans now though] Any idea if this is legal?

Sorry to bombard with questions, but I'm really new to this...

 

Thanks for your help btw.

[renegadeimp]

I really couldnt answer that question. But you MUST report it with as much info as possible to the OFT and possibly trading standards.

[JOHNINYORK]

Just done a very quick check on Uncle Buck.I cannot as yet find any connection between them and CIM.

Uncle Buck has the CCL 640978 and is owned by Steven George Murray,who also has a pawn shop at 238 Brownhill Road,London,SE6 1AU.

 

Regards,John.

[JadedGirl]

I am quite confused. What is really ToothFairy Finance's company? Web Processing Limited or CIM Technologies? Isn't it illegal to be using different company names? Also....I filed a complaint and then they replied sending Speed credit's Terms and conditions as attachments. And my loan was with Tooth Fairy's! Isn't that illegal as well?

[renegadeimp]

Their real company is what is listed on their license, however we found out some other things about the stated companies, and passed the info on to the OFT, who now seem to be considering another investigation, since last time, toothfairy and the companies the management owned, that the OFT were aware of, almost lost their license to operate.

[JadedGirl]

Hi, I've found this link which basically says all there is to know about MCO and Tooth Fairy and their associations/non-associations with each other.

 

 

 

http://saynotopaydayloans.co.uk/blog/controversial-payday-lender-links-exposed/

[JOHNINYORK]

JadedGirl.

Thanks for the info,but I posted that link several weeks ago.Well anyway,any newcomer to the forum might not be prepared to delve back several weeks ago,so the link is here again.

The whole bunch of them used to (if not still do) loiter with evil intent at,

 

15 LYNDHURST TERRACE

LONDON

UNITED KINGDOM

NW3 5QA

 

Regards,John.

Edited July 13, 2012 by JOHNINYORK

[silverfox1961]

Hi guys. Been away from this thread for a while but some info for you.

 

I asked a friend to email Speedcredit and Toothfairy separately asking some questions. I stressed how important it was to do this and the response came back the other day which I hope you will find interesting.

 

These are the questions sent to Speedcredit

1) Are MCO Capital and ToothFairy linked in any way?

 

2) Are MCO Capital linked in any way to CIM Technologies (The registered name for ToothFairy)?

 

3) Could you explain why a customer can apply for a loan from you yet pay the debt to ToothFairy?

 

4) When a debtor defaults on the PayDay Loan, can you explain why ToothFairy (and their subsidiary Northern Debt Recovery) begin making threatening phone calls?

 

5) I also notice that the OFT have placed a marker "Minded to Revoke" next to your name. Do you wish to make any comment on that?.

 

These are the questions sent to Toothfairy

 

 

1) Is there a link between ToothFairy and MCO capital?

 

2) Do you have a data sharing agreement with MCO Capital and do your customers know this?

 

3) Why do you have two Consumer Credit Licences? (ToothFairy and CIM technologies)

 

3a) As above, why have two different companies registered with Companies House? Is this designed to confuse?

 

4) From information gleaned from consumer forums, Northern Debt Recovery seem to be breaching the OFT debt collection guidance by making phone calls threatening things they cannot do prior to court proceedings. Do you have any comment?

 

What follows below is the response received (including all questions) The questions are in black, the responses in red and my comments in blue

 

Are MCO capital and Toothfairy linked in any way?

NO, excepting that they share the same software provider. Different lenders have different underwriting criteria.

Hmm! If that is the case, why are Toothfairy and Speedcredit sharing customer details?

 

Are MCO capital linked in any way to CIM technologies (the registered name for Toothfairy)?

NO,excepting that they share the same software provider. Different lenders have different underwriting criteria.

Confused yet?

 

Could you explain why a customer can apply for a loan from you yet pay the debt to Toothfairy?

For customer convenience debts from different lenders can be paid off through other providers where there is a shared platform.

This is data sharing! I think this needs a SAR to both companies and specifying the names of the companies they share data with.

 

When a debtor defaults on the Pay Day loan, can you explain why Toothfairy (and their subsidiary Northern Debt Recoveries) begin making threatening phone calls?

We take allegations of threats and non compliance very seriously and have typically found them to be unfounded. All collectors are CSA CAI certified, subject to on-going training and audited on a judemental basis.

Did they answer the original question-NO! They just tried to ignore the issue

 

I also notice that the OFT have placed a marker 'Minded to revoke' next to your name. Do you wish to make any comment on that?

This relates to frauds suffered by MCO on previous loan brands Help Loans and Balance Loans

Of all the questions asked, this is the only one with a satisfactory answer.

________________________________________________________________________________

 

 

The next set of question/answers were sent to Toothfairy via their contact us form on their website as the email address results in a delivery failure

After some research with Companies House and the Office of Fair Trading, I can find no link between you yet I have seen where a customer has taken a loan with Speedcredit (part of MCO Capital) yet payments are made to you. Similarly, where a customer has defaulted on a loan with Speedcredit, that have been contacted by Northern Debt Recovery (a subsidiary of yours) so, before I finish my article, I would like to offer the opportunity to respond.

Numerous loan brands use the same loan software provider implementing their own underwriting, charging and collecting strategies.

Similarly most companies employ third party debt collection agencies such (sic) Northern Debt Recoveries, Phillips Collections, Scotcall, Marshall Hoares Baillifs etc. and therefore they service numerous clients.

What has using the same software provider got to do with Toothfairy and MCO collecting of debts?

Surely, just using the same software platform should have safeguards built in to stop one company seeing another companies details.

 

Do you have a data sharing agreement with MCO Capital and do your customers know this?

We are registered with the Data Registrar and act in full compliance with their requirements and that of the contracts issued to customers.

“Data Registrar?” Surely they mean the Information Commissioner or is that too many letters for them. This still doesn't answer the question. The question couldn't have been much clearer.

 

Why do you have two Consumer Credit Licences? (Toothfairy and CIM technologies)

Individual companies typically have their own licences with “trading styles” attached.

Maybe, but they are the same company?

 

As above, why have two different companies registered with Companies House? Is this designed to confuse?

As part of the corporate restructuring CIM is being phased out.

That is an answer of sorts!

 

From information gleaned from consumer forums, Northern Debt Recovery seem to be in breach of the OFT debt collection guidance by making phone calls threatening things they cannot do prior to court proceedings. Do you have any comment?

We take allegations of threats and non compliance very seriously and have typically found them to be unfounded. All collectors are CSA CAI certified, subject to on-going training and audited on a judemental basis.

Anyone notice it is the same comment from the email sent to MCO (above)?

 

 

 

 

As previously stated, TWO emails were sent. What appears above came in ONE email from Gary Chapple (his name is in the public domain so I see no reason not to include it) If, as in the first response they have NO connection with each other, why does Mr Chapple reply to both emails? Surely, if the two companies are truly separate, TWO responses would have been received. One from Mr Chapple and one from the director of MCO (Gordon Reykdal)

 

If anyone can understand the responses, please enlighten me as this seems to be obfuscation!

[JOHNINYORK]

SilverFox.

One further question that you should have asked them.

 

When someone pays money into Speed Credit (MCO),why does the money go into a CIM bank account.?

 

I would like to see the torrent of lies come forth.

 

Regards,John.

[renegadeimp]

Thats easy John.

 

" we share the same software platform so blah blah blah"

[JOHNINYORK]

Something else that has puzzled me for sometime,that is the following.

London Treasury Services who are part of the Larholt group of companies,have an address of 29 The Rise,Borehamwood.This address is also shared by,UK Friends Of The Schneider Childrens Hospital.Sometime ago,there was a James Phillip Henry Larholt on the board of directors.The question is,what relation is James to our friend Oliver David Larholt.(Toothfairy)

I found the following which is amusing,Oliver's blog.

 

http://www.yasni.co.uk/ext.php?url=http%3A%2F%2Fwww.oliverlarholt.net%2Foliverlarholt-the-role-of-a-guarantor%2F&name=Oliver+Larholt&cat=filter&showads=1

 

Here is a quote from his blog.

 

"There are of course, consequences to defaulting on an unsecured loan, but you are not at risk of losing your valuables".

 

What about MH visiting your premises and taking goods to 9 times the value etc,etc.

 

Regards,John.

Edited July 20, 2012 by JOHNINYORK

[jenniferx01]

hi, i have had a number of threatening emails, txts and letters and ive spoke to northern debt recovery who have been rude. i set up a plan but i could not pay my last £200 on the loan, they payment would not go through. there threatenin to send bailiffs to my door, what do i do?

[rippedoff15]

Hi jenniferx01,

 

Dont even speak to NDR nor Marshall Hoares they are all part of the same company, al email you send will be returned and letter sent only go to an empty garage. Never mind trying to get them to agree to a repayment plan, all you pay is the debt plus month int. With regard to sending in the bailiffs this will never happen as they are NOT bailiffs and have no powers in fact if they turn up call the police explain their is a guy stating he is a bailiff and he will be arrested.

 

Only pay by standing order never give your bank details, pay as much as you can afford, forget their threats for more money their are just a bunch of crooks.

 

Dont worry all their treats are full of wind, my debt was 100.00, and now they are claiming 1,041.00, they have sent me an email staing is clear and offerring new loan , yer as soon as i quote my bank deails they will raid the account. Also make sure you have no Cont payment agreement on your account as they do keep trying to get your cash

 

cheers

[jenniferx01]

ive paid £400 so far i origianally owed £354 so ive paid more than what i owed but thats not good enough. i told them take me court and im only paying what i owe. all i got was well you need to pay it weather you like it or now. i received a txt saying YOU WILL NOT SPEAK TO US then i got WAITING PAYMENT. there so rude and unprofesional. i am seeing my solictor later on to get some advice.

[jenniferx01]

my partners credit card declined the last £200 they wanted, i think the credit card company have got somethin on them to refuse more money going to them.

[silverfox1961]

Hi

my partners credit card declined the last £200 they wanted, i think the credit card company have got somethin on them to refuse more money going to them.

Highly likely.

 

If you have the ability to record these muppets, accept calls from them and record them. You don't have to tell them you are doing this although you cannot use the recordings without the permission of a judge. You can however, transcribe the context of the call to be used as evidence of their wrongdoings.

 

If you cannot record, deal only in writing.

 

I would suggest a formal complaint to:

15, Lyndhurst Terrace, LONDON, NW3 5QA, United Kingdom

 

The name of the actual company is now Web Loan Processing Limited and not toothfairy as they have changed their name.

 

As an aside, it appears that the 'minded to revoke' has now been removed so they can continue to harass people with impunity until the OFT stops them.

Also be aware that they now have 47 (yes FORTY SEVEN) trading names so if you ever feel the need to foolishly take another loan with a supposedly different company, you may just be dealing with toothfairy and once they get your card details, they will raid it for any outstanding amount they feel you owe.

 

For info:

 

http://www.oft.gov.uk/news-and-updates/press/2012/110-12#.UMB903f9HIU