Money Mutual 2019 Review | Lawsuits in Actions!

Money Mutual (MoneyMutual.com) has become the subject of interest in the class action legal lawsuit set to take place on October 2nd, 2019.

Chances are if you are reading this unbiased review you may likely be seeking answers as to whether or not Money Mutual is a scam or if they can be trusted.

To help address these questions we will be evaluating and weighing consumer feedback in addition to assessing Money Mutual’s reputability and consumer-trustability.

With these objectives in mind let’s take a closer look into Money Mutual in 2019.

About Money Mutual

It is important to understand from the get-go that Money Mutual is not a lender.

Instead, MoneyMutual.com functions as a loan matching network.

Meaning that Money Mutual connects prospective borrowers looking to obtain loans online with their network of online lenders.

In theory the practice of connecting loan applicants with a multitude of online lenders through an easy 5 minute application would result in more competitive rates for the loan applicant, however, that does not appear to be the case with Money Mutual.

By working with international companies that charged borrowers illegal interest rates, Money Mutual has landed themselves in hot water.

As a partial result of the high interest rates charged by Money Mutual’s lenders, Money Mutual is not available in New York.

Money Mutual Reviews

Money Mutual is a nationwide known payday network.

Being endorsed by celebrity spokesperson Montel Williams, Money Mutual asserts that since their inception that they have been trusted by over 2 million customers.

While this may be true, the general lack of community feedback surrounding Money Mutual is questionable to say the least – especially for a platform that has supported as many customers as they allege.

ConsumerAffairs, an online consumer review portal, reflects less than a 3 out of 5 star customer satisfaction rating out of 37 reviews.

Shared below are a couple of the most relevant reviews we found:

“If you get $300 from Money Mutual you will end up paying $975 in total, which is 325% interest. The system is entirely made for you to get screwed! Do not borrow money over 25% which is already really high, most of the states can not allow loans over 25% and there is a reason why: because then it becomes very complicated to repay!”

“I was told I was approved for a $5000 loan. They requested I get i-tunes which I did for 500 which I was to get back with my loan. The money was not deposited and when I tried to call both numbers they gave me they were “no longer is service”. I am on a fixed income and to not get my money or 500 back is a hardship. I advise to everyone to not be fooled by the fact Montel Williams endorses this site. It is a fraud.”

Money Mutual Lawsuits

According to LakeShoreLaw.org, on October 30th, 2018, the Court ruled on a motion to dismiss the lawsuit which was pending since October 2017.

However, the Court denied the motion to dismiss the entire case.

With this in mind, the Court has set the jury trial date to start on October 2nd, 2019.

You can read an outline of the allegations against Money Mutual.

Money Mutual Complaints

More complaints regarding the predatory rates charged by Money Mutual lender’s along with poor customer service can be found at SiteJabber.

Be warned though, many of the reviews found on that customer review portal do not appear legitimate, so evaluate with caution.

Popularity

MoneyMutual.com reflected a global rank of 171,136 with a US rank of 33,099 as of May 1st, 2019.

Detailed in the market intelligence report would be how Money Mutual once supported nearly 400,000 monthly site visitors but since their ratings and popularity has decreased to just over 230,000 monthly visits.

Furthermore, approximately 33.99% of the sites cumulative incoming traffic is derived from BadCredit.org.

Money Mutual Scam Review

Money Mutual is a well-known payday network due to their celebrity endorsement and aggressive marketing campaigns.

Landing themselves in hot water by working with international lending companies that charged astronomical loan rates and interest rates has tarnished the reputability of Money Mutual.

With these facts in mind we are not encouraging consumers to rely upon Money Mutual in order to find reputable online lenders.

Please feel free to share any relevant insight, experiences or feedback you may have below!