Capital Finance One / MT Collect - read how to deal with them

[ror24]

As per Sillygirl1, the time to complain is now more than ever. With the review currently underway by the OFT we need to make sure the often underhand tactics of these companies is made clear and put a stop to. The OFT is also inviting consumers to use the complaint form below to tell us about their complaint against a payday lending business. Complaints should be submitted by Friday 18 May 2012. The OFT cannot intervene in individual disputes. The information gathered from the consumer complaint form will inform the OFT's overall compliance review findings. People who are worried about their financial circumstances should seek independent debt advice. A list of organisations that offer free help and guidance on money matters is available from http://www.direct.gov.uk. Download the consumer complaint form: http://www.oft.gov.uk/shared_oft/Credit/complaint-form.pdf Get those complaints in!

[ror24]

With regards to legal status of MT Collect, whilst I see from a previous post (#45) that they are now registered with Companies House. Have had a response from OFT further to a complaint being made against CFO and OFT said that Mitigate Trace & Collect do not hold a CCL and do not appear to be a trading style of CFO. Are MTC shooting themselves in the foot here or am I missing something?? The CFO CCL only has down the following as trading styles; MTcollect, Money Resolve, Paycfo, Payday Advanced, Payday Credit and Payday First. On a separate note CCL notes principal place of business as Leytonstone address. However, when sent letter via recorded delivery to that address it was not signed for and returned to me some time later. Far from me to insinuate they would purposefully ignore recorded correspondence....

[ror24]

So a call to Trading Standards is required for these nogoodniks?

[ror24]

Have made complaints against CFO to BCCA and FOS. BCCA have been quite helpful but not sure what their powers are or whether they would take any enforcement action against an alleged 'rogue' member.

 

CFO have finally responded on the back of this. Claiming unable to contact me despite my emails to them. They go on to add that I supposedly applied for numerous other loans with them. I can categorically say this isn't the case. They provide the dates but no evidence to substantiate their claims.

 

A fairly expected response albeit with claims of alleged applications for further credit.

 

I will reply to this and cc. the BCCA but am hopeful when the FOS pick it up and the OFT they might have more teeth.

[ror24]

Def no, want to sort this and not make it worse.

 

Surely the mere passing of details can't be an application?

[ror24]

Thanks for that. Surely this is a point of concern to be raised as part of the OFT's review. Is not the passing of personal information from one lender to another a breach of the DPA as the information is not being used fairly? If this is the case then am sure the ICO would like to know about this sort of activity.

[ror24]

Address is below:

 

Capital Finance One Limited

Copper House

88 Snakes Lane East

Woodford Green

Essex

IG8 7HX

I would also complain to OFT as well given the review being conducted in PDL at present. A complaint form can be downloaded from their website should you wish to do so.

Have you spoken to your bank about this and your concerns?