Action When Fraudulent Pay Day Loan In Your Name

Published / Last Updated on 01/11/2022

What action should you take if a loan or pay day loan account is taken out in your name fraudulently.  We only found this out about it by one of our directors checking their credit score which had not done for years. 

  • We contacted the credit score company.  We were told to contact Equifax (which is where the credit score company gets their data from).
  • Equifax raised an investigation; we then received a debt collection letter.  We made 5 or 6 calls to them to get it removed.  There was no joy at all until someone said: “have you reported it to Action Fraud?”
  • We had not told to by anyone to do that before.  You must report it to Action Fraud to get a Crime Reference Number (CRN).
  • When you have a CRN the debt collection agency will then refer it to their fraud team.
  • The fraud team then issue a witness statement asking for full details of the case, they investigate and close it down, your credit report will then be updated in about 60 days.
  • Basically, there was no point telephoning or emailing to argue your case at all until you have a CRN and then get a witness statement from you as the injured party.
  • You need to get all the facts and details and make sure the debt collection agency tells you any telephone phone numbers, email addresses and correspondence addresses used in the fraudulent loan application. 
  • Without a CRN, debt collection agencies will not take anything further.
  • We could have saved about 4 hours if we knew this on day one.
  • We hope it saves you some time if you suffer a financial crime or loan fraud.

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