Complaint Review: Eliot Management Group

I was approached by a sales representative for Eliot Management Group by the name of Clete Nielsen in Spokane, WA.  He convinced my to switch to EMG from my bank at the time.  After waiting the mandatory three years to cancel this very expensive service, we were charged $500 to close the account.  When we initially attempted to close the account five months prior to the end of the contract, we were told that we must send a fax or letter to the corporate office stating that we wished to close the account.  The catch was that the correspondance must fall within a specific time range of no sooner than 90 days but no later than 30 days.  So we marked the calendar and with 89 days left on the contract we sent a fax message to EMG indicating that we would like to cancel the account.  We also sent a letter as a secondary backup to the fax.  As the cancellation date came and went, I received another statement with a charge.  Hmmm, I thought that we were done with EMG.  Naturally EMG reported that they never recieved the fax or the letter indicating that we would like to terminate the contract.  In order to cancel we must now pay $500.  What a scam.  Anyone reading this message, please read the contract very carefully and when you cancel, (you should as EMG is very expensive compared to others) be sure to send letters via certified mail and follow up every day until the account is closed.  This company is very difficult to deal with on the phone and in my opinion is a very unethical venture.  BE AWARE OF THEIR SCAM!!!