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Money Mutual is different than the other lenders we’ve reviewed. Mainly because they are not a lender. We talk about the payday loan lead generators in our page on the dangers of short-term loans. You fill out an application on their website and they sell it to the highest bidder.
So why are we including Money Mutual? Because they are the biggest lead generator in the industry. There are thousands of them but due to their wide exposure, we thought it would be helpful to go in-depth on what they do.
Montel Williams is the recognizable face of the company. He’s been doing their ads for years now.
We’d recommend not using Money Mutual since you really don’t know who you’re going to end up with.
What States Does Money Mutual Lend To?
There is no quick answer to this. They operate wherever they can sell a lead. So chances are if you fill out an application they will find you a loan. This is especially worrisome in states where payday loans are not legal. We’re not saying they will sell your loan to an offshore lender but there have been issues in the past with lead aggregators doing this.
The company was fined 2.1 million in 2015 by the state of New York. New York does not allow payday loans but Money Mutual was advertising nationwide. They didn’t specify that New York was excluded, which got them the fine.
As far as some of the shady things the direct lenders were caught doing this isn’t actually that bad. More like a really, really big legal oversight. Still, they should have known better.
What Services Does Money Mutual Offer?
- Payday Loan Matching Service
What Does the Money Mutual BBB Page Say?
The BBB page doesn’t have much on them, they have no reviews and 3 complaints. We would have thought they would have had more feedback. You can read their BBB page here.
Business Contact and Profile for Money Mutual
| Name: | Money Mutual |
| Phone: | (800) 567-0142 |
| Address: | 8174 S Las Vegas Blvd Ste 109-432 Las Vegas, NV 89123 |
| Website: | MoneyMutual.com |
| Business Started: | 2011 |
| Type of Business: | Payday Loan Lead Generation |
| Principal: | Mr. Glenn McKay, Manager |
| BBB Accreditation: | This business is not accredited with the BBB and has an A+. |
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