• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Paid into a Buisness Credit Building

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

#1
I am in CA
I paid for a business credit building program. I was told it would take one month and would be able to get funded through the SBA for a large capital low interest loan. I am so dumb I paid $3995. two months without any word I requested a refund. This started 02/12/2018 I requested my refund in April. he has told me he does not have the money to refund and wants to make payments.
I contacted my bank to dispute the charge but they told me since it has been past 78 days they cant do anything either.
I am so scared I have been scammed. Can my bank really not dispute this charge?
Help.....
Thank You,
 


quincy

Senior Member
#2
I am in CA
I paid for a business credit building program. I was told it would take one month and would be able to get funded through the SBA for a large capital low interest loan. I am so dumb I paid $3995. two months without any word I requested a refund. This started 02/12/2018 I requested my refund in April. he has told me he does not have the money to refund and wants to make payments.
I contacted my bank to dispute the charge but they told me since it has been past 78 days they cant do anything either.
I am so scared I have been scammed. Can my bank really not dispute this charge?
Help.....
Thank You,
KA1975
It sure seems as if you were scammed if this credit building program promised you a loan. What sort of research did you do into the company before paying $3995? Is the company based in the US?
 
#3
It sure seems as if you were scammed if this credit building program promised you a loan. What sort of research did you do into the company before paying $3995? Is the company based in the US?
It is based out of NC. I did not. She has been one of my contractors accountants for decades. The way it was presented to me was pay for the credit building program and in the mean time while we were supposed to be working on my business credit I was supposed to get a short term loan to float me for a month in the amount of $40-50K. NEVER happened instead it was a 8K loan extreme high interest. I pay back $141 a day for 90 days.
Is there anything I can fo to recover the $3995? I have several emails and text messages going back to April requesting and them agreeing to the refund in May.
 

quincy

Senior Member
#4
I am not sure you will have success in getting a refund. You will need to read the terms of your contract to see what exactly your money purchased and to see if the company breached these terms.

Look in your contract for a termination and refund clause.

Good luck.
 

quincy

Senior Member
#6
Did you get that in writing? If so, you can attempt to pressure them into the refund by threatening a court action. Send a demand letter.

I would reread the terms of your contract with the company, however, to make sure they have no defense to any claim.

Good luck.
 

quincy

Senior Member
#8
Yes. Several times but they keep pushing out the date
I am not convinced you are dealing with a legitimate company, KA1975.

You can file a complaint with your state's attorney general, consumer protection division, if you do not receive a promised refund. You apparently still may be stuck with your high interest loan, however.

Good luck.
 
#9
I am not convinced you are dealing with a legitimate company, KA1975.

You can file a complaint with your state's attorney general, consumer protection division, if you do not receive a promised refund. You apparently will still be stuck with your high interest loan, however.

Good luck.
do I need to do that in CA and NC?
Thank You for your time.
 

quincy

Senior Member
#10
File a complaint in North Carolina although if the company is targeting residents of California, you can file a complaint with California's Attorney General, as well.
 
Sponsored Ad

Top