22 Mar 2015

A question about : Are MONEYSAVE scammers

I manage a considerable amount of debt as best I can, the debt keeps getting sold on and the people they sell to are more agressive than the last.

I take it all with a pinch of salt as I have no assets, no TV and not much more than my bed, clothes, a sofa and a PC which is needed for my work (I do not even own it).

So we play a game of cat and mouse and I have learnt to keep them at arms length, I have had to move several times despite always paying my rent, mostly because landlords want to get higher rent.

One tactic I have seen used is for the debt collection companies to write to you in fake names from fake companies. This has worried new tenants at my old address, I tell them to return these to sender unopened.

Usually a quick Google of the address on the back will show all the signs of who they are; using a corporate mailing address that leads to a company that does bulk mail and other services for debt collection companies.

So a few days ago they got one from a company called Moneysave, they have not opened it but they can see through the window that it says

Let moneysave help you

We make the legal system work for you

Don't let CCJ's blah blah your future

The reason I think these guys are fake is that I only lived there for a short time, how would they get my details. I know one creditor is trying to take me to Court there but the new tenant told them I was no longer living there.

So is this MONEYSAVE company simply trying to find me by offering a bait.

The address on the back is

CloudSMART,Unit 42,Pallion Trading Estate Sunderland, Tyne & Wear.

They have a website

www.moneysavesolutions.com

This site seems to suggest they are a bit fishy

https://www.legalbeagles.info/forums/...ment-regulator

As the only people who had me at that address was debt collectors I am fairly certain it was a baiting exercise.

They seem to be part of
Pentagon (UK) Ltd

Which is listed as a franchise of Eurodebt

https://www.linkedin.com/company/euro...ncial-services

This is a debt payment page of theirs

https://secure.eurodebt.com/

So either they are working both sides of the fence or they stole my details from somewhere.

Any advice or comments regarding them would be appreciated

Best answers:

  • Hi David,
    One word... AVOID!
    What you need to do is contact a debt charity, I'm with Stepchange the link to their website is below. Trust me, these guys are life savers and you'll start being able to get your life back in order quick sharp
    Did I mention they are free?
    https://www.stepchange.org/
    I'm guessing you'll be recommended either DMP or IVA (need more info than you've given here) but they'll steer you right
    Good luck!
    MB
  • Its probably a fee charging debt management company, they have many and varied ways of targeting you, for instance, if you ever apply for a payday loan, your details may get passed on to various other companies, some of whom will target you for business purposes, because you want a payday loan, they think, "ah !! this chap is in debt, well letter bomb him, and try and get our cut".
    Just ignore and file in the recycle bin, as monkey bits above says, they just want money out of you, and are not interested in how they get it.
  • I have never had a pay day loan and other than credit ref agencies who I gather are only allowed specific searches for a specific purpose, how do these people get their data?
    I am sure it is a breach of the data protection act, right to a private life etc.
  • Thanks Monkeyballs, but there is no way I can ring someone for confidential advice when hidden on the legal pages is says
    Call monitoring
    Telephone calls and 'online chats' may be monitored and recorded for quality and training purposes.
    This is a total breach of confidentiality, I do not give my permission for my data (whatever I say) to be used in this way.
    Who are you training, some intern who may share my data, are they bonded for security purposes?
    How does your "charity" make money, is it from commissions, that needs to be declared up front.
    Sorry but I have seen too many scammers.
  • Hi I'm not really sure what issues you have- step change and payplan are both very reputable and considerably help you get out of your mess so u are no longer just about keeping companies at arms length
    But you have to want to be helped u have to have your light bulb moment- if not then u will continue struggling as you are
    Dealing with debt is a scary thing but admitting you need help is the first step-
    I have been with payplan for a good couple of years and have never had any calls from my creditors no nasty knocks on the door- no unsolicited calls from other orgs or post
    Be brave and make that call- good luck in your journey
    What might be a start is to put up a statement of affairs so we can see if we can help u save money?
  • The CAB are confidential and will not share your data - if you are really worried then make up a fake name and address and fake email address in order to get factual advice on your situation with no potential come back.
  • My DH has worked for Eurodebt (MoneySave's parent company) - they're a legitimate company as far as registration etc. is concerned and they have quite a good company ethos. However they employ franchisees (and you can't guarantee a franchisee is going to be as ethically sound as their contracting company), and whilst they spend a fortune on buying in data on debtors to a wide variety of creditors (which is probably how they got your details - if it's any consolation buying your info will have cost them more than buying an older set of data as your up to date details would be seen as premium rate info ) in the end they buy their data from data houses much like most other similar companies so just as likely to get a duff batch and end up calling based on outdated or inaccurate details.
    Either way, they charge for their services so you're much better off going to stepchange or a similar not-for-profit organisation.
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