(Updated March 2021)
Please do not fall victim to these, or any other, scams.
Deceptive Debt Collection Notices
Consumers have received communications, allegedly from an attorney (such as ACE Legal Group of Attorneys), attempting to collect on a loan purportedly provided by Money Mutual. Do not engage; this is not legitimate. MoneyMutual is not a lender, does not make, arrange, facilitate or broker loans to lenders and does not make short term cash loans or make credit decisions. Further, MoneyMutual does not engage in any collection activities.
Important to know - MoneyMutual will never contact consumers to collect funds, nor will MoneyMutual remove funds from your account as MoneyMutual is not a lender. MoneyMutual services are free for all consumers. To learn more about fake and abusive debt collectors, please visit https://www.consumer.ftc.gov/articles/0258-fake-and-abusive-debt-collectors
Forged email and impersonator phone calls
Consumers have received emails that look like they are from MoneyMutual confirming that the recipient has been approved for a loan amount between $10,000 and $15,000. There are contact phone numbers for alleged employees of MoneyMutual. These alleged employees collect personal information about the consumer over the phone and require a pre-paid card, a Western Union MoneyGram, or a Cashier’s Check to be sent to them to insure the loan. Once the insurance is received, the alleged employee cannot be contacted.
Consumers have also received phone calls from someone representing themselves as being an employee of MoneyMutual whereby they take a consumer’s information over the phone to apply for a loan. The caller asks for a pre-paid card to be sent to them to insure the loan. Once the pre-paid card is received, the caller cannot be contacted again.
Important to know - MoneyMutual will not contact consumers to collect personal information over the phone. Lenders in the MoneyMutual Online Marketplace will never require a payment of any kind prior to receiving a loan disbursement. MoneyMutual services are free to consumers.
Deceptive ads and sites
Be aware that organizations are creating fake ads and sites to lure consumers to “look-a-like” MoneyMutual web sites. They may include fake security icons and look like legitimate short-term loans sites. These sites may deceptively be collecting your personal information. Victims have been receiving harassing phone calls or emails demanding money, and may even see funds illegally withdrawn from their bank accounts.
Important to know - MoneyMutual will never contact consumers to collect funds, nor will MoneyMutual remove funds from your account as MoneyMutual is not a lender. MoneyMutual services are free for all consumers.
