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  • FIRST POST
    • Corfeee
    • By Corfeee 10th Nov 18, 8:13 AM
    • 2Posts
    • 1Thanks
    Corfeee
    False promise of PPI compensation by Equity in Finance
    • #1
    • 10th Nov 18, 8:13 AM
    False promise of PPI compensation by Equity in Finance 10th Nov 18 at 8:13 AM
    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.
Page 1
    • Browntoa
    • By Browntoa 10th Nov 18, 8:15 AM
    • 33,843 Posts
    • 39,971 Thanks
    Browntoa
    • #2
    • 10th Nov 18, 8:15 AM
    • #2
    • 10th Nov 18, 8:15 AM
    It's a scam.

    Up front fee .
    I'm the Board Guide of the Referrers ,Telephones, Pensions , Shop Don't drop ,over 50's and Discount Code boards which means I volunteer to help get your forum questions answered and keep the forum runnning smoothly .However, please remember, board guides don't read every post. If you spot an inappropriate or illegal post please report it to forumteam@moneysavingexpert.com Any views are mine and not the official line of MoneySavingExpert.
    • Skipraida
    • By Skipraida 10th Nov 18, 2:04 PM
    • 2 Posts
    • 0 Thanks
    Skipraida
    • #3
    • 10th Nov 18, 2:04 PM
    • #3
    • 10th Nov 18, 2:04 PM
    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
    • By Vortigern 10th Nov 18, 2:26 PM
    • 2,601 Posts
    • 1,789 Thanks
    Vortigern
    • #4
    • 10th Nov 18, 2:26 PM
    • #4
    • 10th Nov 18, 2:26 PM
    The two newbies on this thread need to look up "Advance Fee Fraud"
    • Skipraida
    • By Skipraida 10th Nov 18, 2:42 PM
    • 2 Posts
    • 0 Thanks
    Skipraida
    • #5
    • 10th Nov 18, 2:42 PM
    • #5
    • 10th Nov 18, 2:42 PM
    Thanks,I will do.
    • Corfeee
    • By Corfeee 10th Nov 18, 4:57 PM
    • 2 Posts
    • 1 Thanks
    Corfeee
    • #6
    • 10th Nov 18, 4:57 PM
    • #6
    • 10th Nov 18, 4:57 PM
    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.
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