Warning about fast cash loans

By Evrod Cassimy - bio | email
Posted by Terry Alexander - email

RICHMOND, VA (WWBT) - A Richmond woman says she was taken in by a company advertising a fast cash loan with no credit check. She claims she was lured into signing up because the company advertised using nationally known TV personality Montell Williams. That was back in February, but to this day, she's hasn't received her cash loan yet.

These days almost everyone can use some extra cash. Cheryl Brown-Boswell and her boyfriend needed money to help bring their bank account out of the negative. Because of a familiar face, they applied for a loan with MoneyMutual.com, a decision they would later regret.

"It was on the television. I can't say what channel it was but it was the commercial with Montell Williams doing the commercial," said Cheryl.

MoneyMutual.com's website advertises that customers can get a short term loan for up to $1,000 by the next day. Cheryl signed up online giving out her personal banking information and social security number. She then got a notice that her application had been approved for $1,000 but that was in early February and she still has not gotten the money.

"I was anxious. I kept running back and checking the accounts because he has two accounts. One was like $17 overdrawn and one was $247 so I just kept checking the accounts everyday but no money was in the accounts," Cheryl said.

After some suspicion, a call came that they'd hoped for.

"One time someone called here and my fiancé started talking to them and we were going to put the money in your account," she said.

But the caller said he needed more information but didn't say when the loan would be made.

"When Richard asked them when do I get my money all of a sudden he hung up the phone in his face," said Cheryl.

Unfortunately, the company website does not have a telephone number listed.

We contacted MoneyMutual.com and a spokesperson for the company said to be aware that there are several other companies out there that just go by the name Money Mutual. They are MoneyMutual.com.

She also adds that they are not a lender but if one of the lenders they work with does not provide the loan the next day, to contact money mutual dot com so they can investigate.

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