False promise of PPI compensation by Equity in Finance

Corfeee · 10 November 2018 at 9:13AM

I have been contacted several times by a company called Equity in Finance who have told me over the phone and in email that they have managed to successfully resolve a £6000 PPI claim on my behalf for a loan they say I took out in 2006 with Welcome Finance. Issue is I never had a loan with Welcome Finance nor have I made a PPI claim on a loan I never had obviously. Equity in Finance have said that they will pay me the ‘PPI money’ which they say they have won in a county court. They say the money is currently held by the county court and if I sign the Equity in Finance agreement and send them £450 for their solicitor’s costs the county court will release the money and Equity in Finance will pay me. I have requested evidence of me taking out the loan and evidence of the county court judgement against Welcome Finance but of course Equity in Finance will not provide because that evidence doesn’t exist. Seems to me they just want me to sign their agreement and pay them £450 and then they will walk away because there is no PPI claim. Equity in Finance have called me many times and there story is very plausible even sending me a breakdown of the funds ‘awarded’ to me. I believe this to be a scam and want to warn people before they part with any money. Has anyone else experienced similar calls from this company.

Browntoa · 10 November 2018 at 9:15AM

It's a scam.

Up front fee .

Skipraida · 10 November 2018 at 3:04PM

Hi,yes they are on to me just now and like you they sound very plausible.Im assuming that they have bought details from someone as I did try for ppi. I've to get £9500 if I send the £800 odds. They've sent me a breakdown down and after a 2nd call they have sent me all their company details so I can check them out.They say they are Equity in Finance but their number is not on Google.Their details register as if they are in Russia. Think I'll string them along a bit more....

Vortigern · 10 November 2018 at 3:26PM

The two newbies on this thread need to look up "Advance Fee Fraud"

Skipraida · 10 November 2018 at 3:42PM

Thanks,I will do.

Corfeee · 10 November 2018 at 5:57PM

Yep like you they sent me details of where to check their credentials on a .gov web site. Of course it shows that they are reputable but I’ve no idea if the guys calling me are from Equity in Finance or how thorough the checks of these companies listed on the web site are.
The agreement they sent me looks pretty amateurish with blurry screen grabs of various industry standard logos and the .gov web site logo cut and pasted on to the page ....I guess to give them credibility. They also emphasise when I spoke with them on the phone that they record calls , again I guess to add supposed credibility. When I requested documeted evidence and explained I was also recording the call the guy (Gavin) hung up.

Steve_broadley · 17 November 2018 at 9:23AM

Hoping for some advice. Sometime ago I filled in a PPI claim, on a no win no fee basis. If I’m honest I can’t even remember the name of the claim handling company. I’ve recently been contacted by Equity in Finance LTD, they have informed me that they have secured approx £9k on my behalf, but that I have to first put up approx £800 in order to meet their solicitors court fees.
Has anyone had dealings with this company and is it normal to pay up front on a no win no fee basis?

Many Thanks

Nasqueron · 17 November 2018 at 10:01AM

This is so obviously advanced fee fraud that you shouldn't even need to post on here. They don't have 9k and you'll never see the money again if you pay them anything. Logically if they had secured 9k on a no win no fee basis then they would have their fees as soon as they got the money.

societys_child · 17 November 2018 at 11:53AM

£9k on my behalf, but that I have to first put up approx £800

If they call again, tell 'em to deduct £800 from the £9k and just send you £8200 . . . everybody's happy

dunstonh · 17 November 2018 at 12:19PM

Classic advance fee fraud.

Yep like you they sent me details of where to check their credentials on a .gov web site.

Be aware that you could register yourself as a claims company inside two weeks and appear on that website. It is just a listing.

and the .gov web site logo cut and pasted on to the page ...

Most Governement logos are copyright and not allowed to be used by third parties.

I’ve recently been contacted by Equity in Finance LTD, they have informed me that they have secured approx £9k on my behalf, but that I have to first put up approx £800 in order to meet their solicitors court fees.

PPI complaints dont use the courts. Solicitors would be struck off if they were doing this. If they had £9000 belonging to you then they could take the £800 out of it. Obvious scam.

AnotherJoe · 17 November 2018 at 12:31PM

Report it to Action Fraud

False promise of PPI compensation by Equity in Finance

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free