Bad Business Deal

[Teia]

Kansas.

My husband and I decided to get involved with a home business realestate deal. We went to a FREE conference and felt that we could do this deal. They were asking $1590 for the training to prepare you to sell realestate. I did not have the money at the time. We were told to sign a Promissory Note and give a deposit. This was going to make sure we go to the class at this very low exclusive price. After 4 days, I did my research on this company and found out they were frauds. How can I get my deposit back after signing a Promissory Note? Are do I just count it as a lose?

 

[JETX]

"How can I get my deposit back after signing a Promissory Note?"
*** VERY important question, what if anything, does the agreement say as to cancellation and if it describes the process, did you comply??

"Are do I just count it as a lose?"
*** That will largely depend on your answer to the above question.

And one thing that you are not considering.... is that this 'note' may very well be sold (or backed) by another company and they will come after you for payment of the promissed full amount.

 

[Teia]

On the Promissary note it states that: Me the buyer has 3 days to cancel the transaction. And 60 days to credit my deposit or forfeit the money.

I am not very knowledgable with Promissary Notes. When you sign a note like this, aren't you suppose to get something in return for your promise to pay?

 

[JETX]

"On the Promissary note it states that: Me the buyer has 3 days to cancel the transaction. And 60 days to credit my deposit or forfeit the money."
*** Come on now. We are not newbies at this. It obviously says other things... like HOW to cancel, etc. Correct??
And did you comply with what it says?? Did you make this 'down payment' by credit card??

"When you sign a note like this, aren't you suppose to get something in return for your promise to pay?"
*** You did get something. You got the 'benefit' of attending the seminar(s).

 

[Teia]

The down payment was made by check. Which was cashed before the 3 day cancellation period.

And no I did not comply with the cancellation policy, because the fraudulant information about the company was not discovered until the 4th day of the transaction. That's when I discovered the information from the Better Business Bureau.