MCO has gone

[silverfox1961]

Not sure if this has been mentioned yet

 

http://www.oft.gov.uk/news-and-updates/press/2013/23-13#.UUi-_leB7DU

 

And this

 

http://www.guardian.co.uk/money/2013/mar/19/payday-lender-shut-identity-fraud

 

In the Guardian article, it states that MCO are using Webloans Processing and NDR to collect debts but as regulars already know Webloans is Toothfairy and Toothfairy and MCO are the same company,

 

Sniff sniff???

[PDLVictim]

and Toothfairy keeps on existing, so nothing won really... what a joke

[citizenB]

http://www.ft.com/cms/s/0/0fd49152-9087-11e2-a456-00144feabdc0.html#axzz2OAhdJYvt

 

Are these two other companies they used also closed down ??

 

 

 

Pop Credit and Speed Credit

[silverfox1961]

Paycheck credit, popcredit and speed credit are (were) the trading names for MCO so in theory they should not be trading at all. I haven't checked to see.

 

Hmm! Just checked and popcredit website still active. The other two state that they have closed their business.

[Pastor123]

The last couple of days. I've noticed I've not received my twice daily phone call from PaycheckCredit/NDR/Marshall Hoare.

 

Running scared?!

 

I would like to know what the situation is as I'm due to pay them the usual £34 next month as part of my DMP with Payplan

Edited March 21, 2013 by Pastor123

[sillygirl1]

Wonder if the OFT will adopt the sensible approach and have one licence per trading name.... that would stop a lot of the abuse of customer information and bank details.

 

I have my own short list which of course includes Uncle Buck...

[renegadeimp]

They wont ever do that sillygirl1. Thats too much like common sense.

[sillygirl1]

And ban the directors of these firms from being directors of financial firms in the foreseeable future.

 

But of course we know these organisations don't do common sense, they wait and wait and then are seen to think about it....

[Smith5112]

Has anyone managed to pay off there loan? On approaching speed credit the site as we all know has been closed down so I rang the number which referred me to notherndebtcollectors.com when clicking the pay now button to pay off my debt it says my loan doesn't exist? Someone please help!

[Smith5112]

I've also tried to log into tooth fairy but that also says my loan doesn't exist! I have no clue as to what is going on!

[Ell-enn]

Someone told me the other day that Prime Payday have stopped lending ?

[turkwyfe4lyfe]

they stopped lending to UK customers apparently.

[renegadeimp]

Not apparantley. Theyve been closed down completely, and the shady person who owns the company has moved everything to another of his sub companies.

[Ell-enn]

Not apparantley. Theyve been closed down completely, and the shady person who owns the company has moved everything to another of his sub companies.

 

Really? is that published anywhere Renegade ?

[renegadeimp]

Toothfairy has been moved over to webloans just before MCO got caught out by the OFT. Both groups of companies are operated by the same man, who has now gone into hiding. Addresses/phone numbers/names of staff, and bank details are the same too. He thinks by running away, but keeping control and naming a "friend" as the current manager, he can escape any prosecution.

 

WHat was funny is i actually telephones toothfairy once for a laugh. They answered 3 times as speedcredit. I waited 30 mins, then called again, and they said they were toothfairy. Waited an hour, same number, they answered as speedcredit. Even all their weblinks/email addresses go to the same online forms and servers as all of MCO 's online stuff did.

 

Thats too much of a coincidence for me to shrug it off.

[Ell-enn]

Sorry, I thought we were talking about Prime Payday

[renegadeimp]

Probably were. But if they were owned by MCO capital, the above comment of mine still stands. The excuse they are giving out now is all of MCO's loans that are in default, have been passed to NDR ( who are MCO under another name)

[Smith5112]

Probably were. But if they were owned by MCO capital, the above comment of mine still stands. The excuse they are giving out now is all of MCO's loans that are in default, have been passed to NDR ( who are MCO under another name)

 

Renegade any idea how I go about paying my loan back? Speed credit and tooth fairy both say my loan doesn't exist when I go to pay now? But I haven't paid it back so not sure what's going on? I want to pay it ASAP to avoid charges etc but like I said apparently my loan doesn't exist =\

[sillygirl1]

If they say your loan does not exisit, print it out and keep it, then if anyone else comes chasing that is your proof.

 

You could put the money to one side for about 6 months but if both companies have gone then there may be no recourse.

 

You could also phone the OFT and see if they can hep you.

[renegadeimp]

Im with sillygirl on this. Hold the money incase someone comes along with full proof that you owe it and they have he paperwork to enforce it. Do t worry about it right now.

[Smith5112]

Ok thankyou both!

[siennasmummy]

Hi,

 

My other half has been having problems with these for over a year. He had a loan of £300 or £400 off them and basically, rolled it over loads of times and then he tried to sort out a repayment plan. Obviously, they wouldn't accept any and now the debt apparently stands at well over £2000. He originally had the loan off " Paycheck credit" but had constant emails from Paycheck credit, Toothfairy and NDR all about the same loan??

Where do we go with this as there is NO way he will pay then the ridiculous amount they are claiming and as we have heard, Paycheckcredit no longer exist. Any advice please?

Thanks.

[renegadeimp]

They are all the same company. Keep the money in your account so you are ready to pay them if someone comes along with full and complete proof that you should pay them and the debt is enforceable.

[siennasmummy]

Ok thanks,

I also forgot to mention, he also got emails from Marshall Hoare Bailiffs who I know are also the same company. They were the last people to contact him in January. Are they legitimate and can they really, legally say that they own the debt even though we know they are still the same group?

[renegadeimp]

MHB are the same company and regulary say they own the debt, even when they can provide no proof at all. I think its time you started making complaints to the OFT.