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Is Allday Funds A Scam or Not?!

Financial emergencies can benefit from a short- to medium-term borrowing called a personal loan. The borrower’s income determines the size of the loan. According to Allday Funds, they can obtain short-term loans in this situation, but is Allday Funds a Reputable Company?
September 21, 2022

Online frauds are more prevalent as the internet’s influence grows. The internet enables fraudsters to operate from anywhere in the world while remaining anonymous. 

They use all kinds of promises to lure victims into falling for their traps. Recognising online scams is crucial because the virtual world is ingrained in more and more aspects of our daily lives. Most lenders need to know whether you have always delivered on time and completed payments on your obligations to ensure that you would be diligent about repaying a loan.

Many Consider Alldayfunds A Suspicious Company

Blacklist Company

A blacklist is a list of people, organisations, or countries that are being excluded by others because they are supposed to have engaged in behaviour or activities that are deemed unacceptable or unethical.

Allday Funds is a blacklisted website that claims to provide short-term loans to people without checking their credit history. It would help if you were careful when dealing with this website because its owner hides his identity on who uses a paid service, and the website does not have many visitors.

Financial emergencies can benefit from a short- to medium-term borrowing called a personal loan. The borrower’s income determines the size of the loan. For those who have little access to credit, it is ideal. Many borrowers of personal loans would ordinarily be unable to get loans from conventional banks. Thanks to websites like Allday Funds, they can obtain short-term loans in this situation, but is Allday Funds a Reputable Company?

To find out how old a website is, check it out on Scamadviser. The domain’s other details, such as how long it has been registered, are also collected. We discovered that the domain of this website was registered several years ago. Websites of scammers are usually very new. Still, you have to be careful. Scammers nowadays also buy old and existing sites to start their malpractice. Checking a website for other scam signals remains essential.

There are various methods for determining whether a lending firm is reliable. Examine the loan provider first on the Better Business Bureau (BBB) website. Go online and quickly search for consumer reviews. Finally, confirm that the lender is registered with the appropriate state government bodies by contacting the attorney general of your state. 

There are often phoney favourable reviews in the Reviews or Testimonials area of bogus websites. This website frequently copies text from other websites, uses photographs from unrelated sources, and may utilise made-up names for persons. Consequently, it is essential not to rely solely on website reviews.

They Claim To Help Their Consumers With a Short Term Loan When in Reality it is a Hoax

Short Term Loan

Allday Funds asserts that it is subject to the oversight of a reputable financial regulatory body. Our thorough analysis led us to conclude that the company is an unlicensed broker and not a good choice for trading because it has not received recognition from reputable financial institutions. 

It would not be a good decision or a proposition to invest with this company as it has been known to be cheating people and taking away their deposits illegally. Moreover, it is hiring different offshore brokers and continuously changing the state, which is not trustworthy. A lot of reviews available online on the broker are negative. Hence, trading with this broker is not safe. This scam company got blacklisted due to noncompletion of supply, poor performance, and irresponsible behaviour.

A legitimate SSL Certificate was located. Your computer and the website communicate thanks to an SSL certificate securely. There are various SSL certification levels. Online con artists employ a free one that is also accessible. 

It’s problematic because you frequently have to supply your Social Security Number (SSN) for a personal credit check or your Employer Identification Number (EIN) or Taxpayer Identification Number (TIN) for a company credit check when applying for a loan with a reputable lender. Although adding an SSL certificate, which you need to safeguard communication, is inexpensive (beginning at €4.99 per year), it doesn’t guarantee that the webshop is legitimate.

Your bank account information could be needed to validate your earnings or to enable ACH payments. Make sure you work in a reputable company and use a secure website if you request personal information. This business may request personal information, but it is not safe.

Alldayfunds is Keeping its Identity a Secret - But Why?

Secret Identity

The website’s proprietor is keeping his identity a secret. Spammers market their services to website owners using this information. 

Therefore, several website owners decided to conceal their contact information. However, con artists may also abuse it. The proprietor of this website, Allday Fund, has not admitted any responsibility for the fraud because it is expressly stated on the website that they are not a lender, broker, agent, or representative of any lender and that they do not make credit decisions or give loans. 

Advertising found on this website is not a request or an offer to lend you money or extend credit to you. This website offers a service where they gather data you willingly provide and send it to their independent network of businesses, including lenders, who might be able to arrange a loan for you. The lender will explain to you the financial terms and conditions of a loan.

Even if you don’t satisfy the standard requirements and have a low credit score, Allday Funds will claim that you are authorised for a loan. Whether based on personal or company credit, most lenders will have a few fundamental standards for creditworthiness. 

Even if there are certainly small business finance solutions available to owners of companies with bad credit, these frequently come at a higher cost. Your creditworthiness is irrelevant to fraudulent businesses. They continually look for high-risk borrowers likely to miss loan payments and pay exorbitant late fees and penalties.

If you have been scammed through online, then contact us to get your money back!

Personal Experience From a Customer of Alldayfunds

Personal Experience

Mr. Anthony needs $2500 in February to complete a crucial duty. He seized the opportunity when he spotted Allday Funds, an online platform offering payday loans. 

He was thrilled when his loan request was approved after completing the Know Your Customer (KYC) form on the app with the required information, such as his Bank Verification Number (BVN). Mr. Anthony had no idea that it was the start of a relationship that would go south. Mr. Anthony returned the initial $2500 and requested another loan from Allday Fund finances. Until the sixth time, when he defaulted, he continued the cycle. 

When he defaulted, he received multiple text messages from different sources saying they were Recovery Agents from Allday Funds. The agents kept sending threatening messages to his contact lists, including his wife, colleagues, mother-in-law, and uncles. Threats and profanities were used to escalate the abuse. Additionally, some of the texts said that he had been labelled “wanted” while employing a variety of derogatory terms, such as “Chronic and Unremorseful Debtor.”

Mr. Anthony claimed that despite the insults and shame to him and his family, he was not resentful since he knew that by delaying payment, he had broken the terms of the contract. The threatening messages from Allday Funds agents after her husband defaulted on the repayment negatively affected Mrs. Anthony’s marriage. 

He defaulted because he was going through a tough time. And not that he wouldn’t pay or had ulterior motives to run away with their money. In the end, he tried to pay back the loan on the app but was unable. He subsequently decided to send money directly to the bank account of the money-lending platform.

He started having issues with the app, making it impossible for him to make the initial payment. He attempted multiple times without success, and while there was one agent who had been pleading with him for days to pay up, he requested the agent give him the platform’s account information so he could do it personally. The agent provided an account number with bank and account name. He made a transfer of $3000.

Twenty-four hours after making the repayment, Mr. Anthony claimed he found the money had vanished from the Allday Fund finances app. After then, he started receiving calls from their agents, which, according to him, raised questions about possible fraud. 

Customer Experience

Three days after completing the payment, he stated he became irritated when the calls continued, and they asserted that he had paid via the incorrect agency. Mr. Anthony said that 24 hours after making the repayment, he noticed the money did not reflect on the Allday Funds app. 

I was concerned because he added, “if I paid the wrong agent, how did the said agent gain hold of my private details, that includes my name, the date I defaulted, and the rest?

I argued that I had settled the debt using an account number provided by the company representative contacting me to collect the amount. He claimed the messages continued despite my attempts, adding that he complained to the business via the customer support channels but received no response.

Short-term loans have been made available by digital e-commerce platforms and businesses like Allday Funds to help subscribers meet urgent needs. Still, they have recently turned to unethical tactics like cyberbullying, harassment, and data breaches against their customers who may have defaulted on loan payments. 

They are a favoured option because loans may be accessed with just a click, unlike traditional banks, which demand collateral and adequate documentation. Most participating lenders don’t require written or faxed documents to request loans. Without the paperwork, there will be no evidence of loan repayment, and the agents will begin to bother the clients.

Not All Lenders will Extend The First-instalment Loan up to $10,000

Loan Installment

This could rely on the rules and legislation of the State in which you live, the data you give the company for the lender to analyse or other information the lender might find out through a consumer credit report. Refinancing may be possible but is not frequently automatic. 

This is dependent on the applicant’s credit score, which is a rating based on the volume of private and sensitive information they have submitted. Your loan’s term will be extended if you refinance, and there’s a chance that you’ll pay more in interest. Missing planned loan payments could result in added interest costs, fines, and credit damage.

Not all states are eligible for this website’s services, and the states it serves may occasionally change without prior notice. This is a worrying development. Where prohibited by law, this service does not constitute an offer or a solicitation to borrow money in instalments. Other requirements include consent to access their customers’ contact lists and other sensitive data. 

According to Allday Fund’s privacy policy, the platform seeks its customers to authorise the permission of “Personally identifiable information” that includes name, password, GPS location Information, civil status, SMS Logs, email address, telephone number, and other personal details. They claim that they collect data to verify a client’s identity and create credit scoring models to determine what loans can be offered to him.

A lot of people have been calling it out for being a scam. Joe Seoane reported that his first email read 9,986.00 thousand deposited into his account as soon as tomorrow. He just had to use the site attached below to see how to begin verification. 

Then he got a message that a local distributor was giving away free groceries and in what groceries he was interested. Upon clicking, they said that his payment had arrived and his belongings had been reserved. They had a logo at the bottom centre to make it seem official, but it was a scam.

People have been flooded with emails from All Day Funds claiming to be approved for various amounts of credit and loans. One person claimed she got even 17 emails in one day. All of them had her approved for $9,545.

Loan Installment

A person reviewed that he received the message from the company, but instead of a professional conversation, he started receiving pictures of a lady claiming it was her.

Blaise Wintheiser was approved for a 2000.00 loan, then got into her cousin’s phone and remotely took all 4 of her account information. Her cousin’s and her personal information was taken, and then they told her that she didn’t qualify unless she put 50 in her account. They hung up on her and blocked her when she confronted them about the scam. This type of scam is known as the Advance Fee Loan and often is a sign of a fraudulent company.

How Funds Trace Can Assist You in a Situation Like This!

Funds Trace is an investigative recovery organisation that employs subject-matter experts who can review your case, gather information about your crooks, and track down your fraudster. We don’t stop there; we make sure the scam artist returns all of the money they stole to the victim.

Funds Trace uses a very effective and integrated approach to track down con artists and recover the stolen funds. The entire asset recovery process could take one to three months, depending on the particulars of your fraud case. If you believe money has been taken from your account, our local professionals will get involved and initiate legal action on your behalf. We want to make the process easier for you by starting a dispute and representing you in court.

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