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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
    • 34,369 Posts
    • 40,451 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 , Boost your income 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
    • 2,651 Posts
    • 1,823 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.
    • Steve broadley
    • By Steve broadley 17th Nov 18, 8:23 AM
    • 1 Posts
    • 0 Thanks
    Steve broadley
    • #7
    • 17th Nov 18, 8:23 AM
    Equity in Finance Limited
    • #7
    • 17th Nov 18, 8:23 AM
    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
    • By Nasqueron 17th Nov 18, 9:01 AM
    • 6,529 Posts
    • 4,013 Thanks
    Nasqueron
    • #8
    • 17th Nov 18, 9:01 AM
    • #8
    • 17th Nov 18, 9:01 AM
    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
    • By societys child 17th Nov 18, 10:53 AM
    • 5,830 Posts
    • 6,637 Thanks
    societys child
    • #9
    • 17th Nov 18, 10:53 AM
    • #9
    • 17th Nov 18, 10:53 AM
    £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
    The EU
    A government who don't have a country, is that why they want ours?
    • dunstonh
    • By dunstonh 17th Nov 18, 11:19 AM
    • 96,475 Posts
    • 64,383 Thanks
    dunstonh
    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.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • AnotherJoe
    • By AnotherJoe 17th Nov 18, 11:31 AM
    • 12,101 Posts
    • 14,171 Thanks
    AnotherJoe
    Report it to Action Fraud
    Please dont criticise my spelling. It's excellent. Its my typing that's bad.
    • -taff
    • By -taff 17th Nov 18, 1:05 PM
    • 9,124 Posts
    • 9,845 Thanks
    -taff
    Honestly, I wish people would use some common sense.


    If anyone told you that they had 9k for you from a successful complaint with a company, why wouldn't that company get in touch directly with you?
    Why would they decide to employ a totally unrelated company, give them all your contact details [GDPR anyone?] and then let them charge you for your refund?
    • Haslam
    • By Haslam 14th Jan 19, 11:51 AM
    • 2 Posts
    • 0 Thanks
    Haslam
    Thanks for all the advice on this. Can anyone tell me what the options are if you have already paid money to Equity in Finance LTD? What is the best way to report this and claim back monies paid to them? Thanks in Advance.
    • zx81
    • By zx81 14th Jan 19, 12:08 PM
    • 20,188 Posts
    • 21,518 Thanks
    zx81
    What is the best way to report this and claim back monies paid to them?
    Originally posted by Haslam
    Use a claims company?
    • Haslam
    • By Haslam 14th Jan 19, 2:53 PM
    • 2 Posts
    • 0 Thanks
    Haslam
    Thanks. Unfortunately I need to try and get money back from Equity Finance and not the PPI. :-(
    • Nasqueron
    • By Nasqueron 14th Jan 19, 3:06 PM
    • 6,529 Posts
    • 4,013 Thanks
    Nasqueron
    If you paid by credit card you could try a charge back or S75 but bank transfer you'll have lost the money
    • brettcta
    • By brettcta 15th Jan 19, 1:52 PM
    • 3,541 Posts
    • 3,329 Thanks
    brettcta
    i think it might be prudent to point out that whilst the people behind this are purporting to be from Equity in Finance, they *may* not actually be from EIF, especially as they're a 'legit*' CMC that have been trading for a number of years. To suddenly go rogue and start acting fraudulently seems rather remiss.

    (*as legit as any CMC can be)
    helpful tips
    it's spelt d-e-f-i-n-i-t-e-l-y
    there - 'in or at that place'
    their - 'owned by them'
    they're - 'they are'
    it's bought not brought (i just bought my chicken a suit from that new shop for £6.34)
    • Nasqueron
    • By Nasqueron 15th Jan 19, 2:26 PM
    • 6,529 Posts
    • 4,013 Thanks
    Nasqueron
    i think it might be prudent to point out that whilst the people behind this are purporting to be from Equity in Finance, they *may* not actually be from EIF, especially as they're a 'legit*' CMC that have been trading for a number of years. To suddenly go rogue and start acting fraudulently seems rather remiss.

    (*as legit as any CMC can be)
    Originally posted by brettcta

    There service is definitley not legit, their a bunch of cowboys who have brought names of victims to scam
    • brettcta
    • By brettcta 15th Jan 19, 2:46 PM
    • 3,541 Posts
    • 3,329 Thanks
    brettcta
    of course, but again the point i was making was that it's likely to be people using their name for an air of authenticity.
    helpful tips
    it's spelt d-e-f-i-n-i-t-e-l-y
    there - 'in or at that place'
    their - 'owned by them'
    they're - 'they are'
    it's bought not brought (i just bought my chicken a suit from that new shop for £6.34)
    • Nasqueron
    • By Nasqueron 15th Jan 19, 2:47 PM
    • 6,529 Posts
    • 4,013 Thanks
    Nasqueron
    of course, but again the point i was making was that it's likely to be people using their name for an air of authenticity.
    Originally posted by brettcta

    I was just messing around with your signature
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