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Money Mutual

Posted:    Jeffer

Scam

Complaint Rating:  90 % with 656 votes
Contact information:
Money Mutual
United States
I had viewed the TV advertisements for this firm, with Montel Williams as sponsor. The ad says just about everyone will be approved. I inputed my infor., including my social security number. When I submitted to see the terms of any potential agreement, within 2 seconds the website responede that I did not qualify. There is no way that could have been determined that fast. This whole thing seems to be a SCAM. It really upsets me that they have now captured my soc. sec. number. DO NOT COMPLETE THE FORM FOR THIS LOAN. This company is a SCAM.. I thought Montel Williams was better than this!


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 16th of Sep, 2010 by   Rikki Tikki Tava 0 Votes
I also entered all the information that was requested including my social security number.In a matter of seconds I was told that I did'nt qualify, but now they have my social security number!!! DO NOT FILL OUT THE FORM!!! It's a SCAM!!! to obtain your personal information.
 2nd of Nov, 2010 by   kscott40 +1 Votes
Consider yourselves lucky. My husband went to this website, and received confirmation that he was approved for a loan. Nowhere near $1000 but for $250. Ok, so we accept this loan and on his next payday, this company took a whopping $430 out of our account. Can you say Legalized Loan Shark? Plus now we are constantly bombarded from other payday loan companies daily saying they have approved loans for him. As it stands today, we received 23 new emails offering him loans. I personally hold Montell Williams for this. In today's economy, he promotes making a bad situation worse.
 4th of Dec, 2010 by   beautyofjuly 0 Votes
I understand that you all are upset but how can you hold Montell Williams responsible for a decision that you made? After all he is getting paid to advertise for this company. As informed, intelligent adults we all know the risks of giving out our social security numbers, especially online. Did anyone do there research before submitting an online application to this company? You should never put your trust in a product just because a "celebrity" endorses it.
 12th of Dec, 2010 by   David Scouten -1 Votes
Well I'm sure if Montel knew that what he was endorsing or promoting was a scam, being the person he is, would not approve even if he is getting paid for it. I applied for the a loan here myself and realized YES if he is promoting it, then WHY would it be bad. I should have took into consideration that Montel doesn't have money problems like most people before applying. However I never finished the application and apparently didn't need to for them to get my info. I was never approved and recieved no money at all. However NOW I am getting harassing phone calls from someone, I have no idea who since he is foreign and don't understand half of what he is saying, that I have somehow stolen money for some PayDay Loan which I never recieved and could be arrested for 3 criminal charges. OK? for one thing even if I had received money from a PayDay loan there are laws that protect ANYONE from being criminally liable. If you get a call from 415-742-7911 it IS A SCAM to get even more personal, (don't they have enough already). Yeah I know I made a mistake but, so far my bank statements and credits reports have seen no anomalies to show that I have taken out an loans in the past 45 days.
 17th of Dec, 2010 by   Ripped Off and Very Mad +2 Votes
DO NOT APPLY FOR THE MONEY MUTUAL LOANS!!! They are a total scam. I was approved for $250 and like others, the company took $450 from my account. Additionally, I had three other companys deposit funds into my account without my knowledge. Since the deposit was accepted by my bank, I owe over $1, 000 in fines (that doesn't include the so called "loan" of $250 for the three unauthorized deposits). I was told that they were signed "digitally" and therefore valid. I offered to return the unasked for funds. The answer was sure, but for each of the $250.00 funds deposited, I now owe $520 per deposit!! NO WAY! I am not doing it. Bottom Line: BEWARE! If it sounds too good to be true, it isn't. It too say "Shame on Montel Williams" for endorsing this company.
 21st of Dec, 2010 by   Fuck this shit +2 Votes
Montel should be very much ashamed of himself. Endorsing for this company, come on.. I thought I knew this asshole better than that.
 11th of Jan, 2011 by   Shugabox 0 Votes
I agree to all of the above. And what made it sounds even more legit is that Montel Williams promotes it. He's not just a celebrity because he 'acts' or 'plays' different character roles. He is one of the celebrities that have his own talk show, and therefore we get to see his personality and demeanor. Just like Oprah or any of the Judge shows. We've come to see what the man stands for and is about. The way he portrays himself and promote money mutual in the commercial makes those who are in need of that breathing room 'til payday s think and say hmmm, let me give them a try. Afterall, its a loan and nothing they ask for as far as personal information isn't any different than what my local bank would ask. So who would think that it was suspicious until all these unnamed lenders call you and text you. Thats when you really realize, what bank is sooo pressed to give me money that they'll even go as far as texting me. Usually, you are the one who would follow up with a bank to check the status of your loan! I've really lost some respect for Montel's character though. No he didn't put a gun to my head to do it but if Oprah Winfrey promoted something for the less fortunate, wouldn't you jump on it and give it a try?!
 16th of Jan, 2011 by   chuck1123 +1 Votes
Thanks for all the posts, they have stopped me from doing something stupid.
 25th of Jan, 2011 by   scoobasteve79 0 Votes
yay...help outta dept to get me farther in dept. oh wait, i must be in america. thanks for all the posts that prevented me from making a mistake. im actually not in any dept i just needed help with what my insuranse company wouldn't cover. money mutual seemed to be a light at the end of a tunnel, but of course home of the brave land of the greed.
 13th of Feb, 2011 by   Momma Bear 1976 0 Votes
My husband and I got totally screwed, before Christmas we did a loan for 500.00, they took the money from his bank in the amount of 650.00 (500.00 for the loan and 150.00 for interest) which was fine because the kids had an awesome Christmas, but then we needed another loan last week, we did it and were approved never thought about the previous loan due to (A) it was paid off, and (B) if there had been an issue we wouldn't have been approved this time. Well, we got the second loan in the amount of 500.00, this payday they took out 300.00 instead of the 150.00 we were expecting. That's when we found out the 650.00 went only to interest and that the 500.00 was still owing. And when questioned about the loan we just took out again in the amount of 500.00 again they had a "Sister company" do it and refused to tell us who it is just said it will be on your bank statement. WTF?
 1st of Mar, 2011 by   moe remy 0 Votes
I feel as though Money Mutual is a scam as well... People have made so many complaints about this website. I also think scammers can hack into this website and steal people's information and call and harass them saying they owe this amount of money and never ever received a loan. I would not recommend this website to anyone. If you need a payday go to a direct lender not a broker site. The Best out there is Cashnetusa... PEOPLE PLEASE STAY AWAY FROM MONEY MUTUAL.COM...AND MONTEL SHOULD OF DID SOME RESEARCH ON THIS WEBSITE AS WELL...
 4th of Mar, 2011 by   awfulloan +1 Votes
My sister in law filled out the forms, when she found out how high the interest rate was she declined the loan. Now everyone that she put down as reference have been receiving harassing phone calls from unknown numbers. Its always the same man who can barely speak english. He talks FILTHY!!! tells us what he wants to put and where. Says he will harm our family if she does not repay the loan. She NEVER received a penny from them yet they are saying she got $5000.00!!! I do blame Montel Williams. He should not endorse anything like this. He says 'IF YOU NEED HELP WITH YOUR MEDICINE WE CAN HELP" It is awful that he prays on the sickly. And yes he does pray on them by endorsing this terrible company.
 10th of Mar, 2011 by   Money Mutual is a scam +1 Votes
this is a bad scam i took out a loan for 600 Great really helped they kept emailing me to extend my loan to Let me make partial payments and and a extension fee of 153 every 2 weeks well 500 dollars in my balance has not changed period now they keep hitting my bank for over 800 + 150 putting me in over draft and say the are going to keep hitting my account every few days untill they get their money
 5th of Apr, 2011 by   Citizens beware +1 Votes
To all who have been scam by this terrible company I advise that you document every transaction and keep a detail record of every transaction that hits your account, also record and note every phone conversations and times you receive or make calls to this company. They might be reluctant to give you information about your account but you can get it thru the back door from your personal bank. All this information you are gathering will come in very handy in the event of Class Action Law Suit which I suspect that one is closely in the making. In any event it will be very good if you will be filing a personal law suit. Also once you have any discrepancy with them shut down your account by closing it and reporting the matter your States Attorney General and the Federal Goverment via the FDIC financial complaints Department. Good luck all
 8th of Apr, 2011 by   Kathy54321 +1 Votes
I learned another expensive lesson> NEVER apply for a loan that is not your credit union. I agree, I thought Montel was reliable and for the people. But true, he has enough money and probably more from his informacial, so why not promote something you probably do not know enough about. I was scammed for an extra $500 for a $575.oo inital loan. I was never told to call 3 days prior to payday to figure out each payment or to see if I wanted to refiance or pay off (why would I want to refiance the loan when it was paid off in three checks?)? DUH.I was told that each payment would be taken our for the next 3 pays. I thought it was over and it continued for the next two pays for a total of $5oo. nore that the $635 ($575.00 plus intrest) that was owed. I made 3 phone attempts, no return call. BE CAREFUL, I put a stop payment on my account, and they changed their account number and resubmitted for payment, !!
Shame on Montel!! Money Mutal is a SCAM!! I work HARD for my money, as do all of you. BE CAREFUL
 24th of Apr, 2011 by   KZM52083 0 Votes
Wow, I am sorry this happened to everyone - and very thankful that you posted it, I just ripped up the letter as I was reading all of these posts.
 30th of Apr, 2011 by   fedupwithmoneymutual +1 Votes
This company is a scam and gave me funds that I did not want. Since the original $450.00 they deposited into my account they have been taking around $150-$180 every two weeks. I spoke with a supervisor based out of their call center in COSTA RICA and was informed that there is no corporate headquarters, no legal dept and no one to speak with other than to reach a call center in some 3rd world country. When I informed him that their interest rates and finance charges exceeded the limit that the US govt allows, he said this is why they are based in Costa Rica so that they didn't have to abide by those laws. I never agreed to do business with a company that wasn't located in the US and I find a hard time believing that this is legal. I contacted the state attorney general where I live and they are taking the matter very seriously. This company is being investigated currently and hopefully will cease to operate soon as they take advantage of people in a desperate situation and exploit them financially. It is unethical and immoral. And to respond to those who say that Montel Williams is not responsible, I say you are dead wrong. He spent many years gaining the public's trust and portraying himself as a man who cares about people. It is disgusting to me that he would use his face and his words to peddle a scam. If he is going to receive money for his endorsement and use his celebrity to promote a company that is unethical then he is just as guilty as they are. It is irresponsible of him to attach himself to a scam in order to pray on good people during bad times who trust him as a good and honerable man to do business with a shady Costa Rican company. There are some good loan companies out there so to knock people for doing what they have to do to feed their kids is ridiculous. People apply for these loans knowing that they will have to pay a large interest rate back on a one time basis, but the companies associated with Money Mutual hide their terms and contact information to make it virtually impossible to get them out of your account. Applying for a loan that a reputable celebrity in the US endorses doesn't make people stupid, it makes Montel a complete scumbag.
 1st of May, 2011 by   Ispeaktruthfully 0 Votes
I had started doing an application for a loan over the phone. When she asked me for my SSN I got a funny feeling. Why would you need my SSN if you are not going to do a credit check? And besides did I really want to give all of that infomarion to a complete stranger? It's a total set-up for identity theft. As far as Montel or any celebrity goes STOP PUTTING YOUR TRUST IN THESE PEOPLE! Even talk show hosts are actors!. What you see from the "host" is a persona. Why do we Americans beleive we have some type of bond or affinity with these people. They don't care about you. These people are chosen for fame because they are willing to sell their souls to get it and if their willing to sell their souls, they are certainly willing to pimp us.
 6th of May, 2011 by   Lucky citizen 0 Votes
I am glad you guys posted this information about Money mutual and I read it before putting my information to a bunch of thieves, or a thief. For those who believe Montel Williams don't know what is going on think again for all I know he is the one doing the lending. Think about it, he is a intellegent person don't you think he would have done his homework before endorsing anything or anyone, as one person said they could not find out who the lender was shame on Montel I guess he is more desperate than us, he is a thief.

Lucky citizen
 10th of May, 2011 by   biptu 0 Votes
HAHA i knew this shit was a scam the first time i saw the comercial. Next payday loans always charge a huge amount for loans. I also agree montel is a piece of shit for sponsering this. i figured this out before i read any of these complaints. Anyone who is rich, that encourages people to borrow money is a retard. If you cant afford it this payday, what makes you think you will the next one( in one lump sum) you are better off taking a line of credit on your checking account or even deal with the credit card company scams lol

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