Print the value of index0
Innovative Wealth Group - Quest International - Drsm ripoff dishonest, lies, destructive advice Email Internet
I was swarmed with emails from the innovative wealth group after I entered my email address on the internet for credit repair help. The emails came every day and from different people in the company. I continued to use spam blocker on them but they would just change their email. They would use re: lines like 'just wanted to say hi',or 'how are you', or 'It's Rick'.
But one day I made the mistake of openning one. They said they could get rid off all my credit card debt withour consolidation, without bankruptcy and it was totally legal. So I called.
The gal on the phone mentioned that the credit card companies illegally use our names to get money from the Federal Reseve. They use our signature to open an account for the amount of the credit line and then go to the Federal Reserve Bank and use our credit line as the 10% holdback requirement and 10 times our credit line in cash to invest. She said this all illegal and if we send them letters we can start a papertrail that eventually would end up in arbitration and we would win because the banks know what they are doing is fraud. End of story.
$45,000 in outstanding credit vanishes and she also said the banks are required to report the credit reporting agencies that our contract was paid in full and our credit would be restored. Then she said it would cost me only $2500 and did I have any credit left so I could pay for it right now. I asked her what the money was for and she said it was for an informational seminar to help me learn about the banking industry and money. And for a counselor who would help me with the letters and monitor my progress. She said the results were quaranteed by DRSM (Debt Relief Servies Marketing). When I told her I had no more credit she had the NERVE to ask me to liquidate my IRA or 401K. That's right! She wanted me to take the money out of my Retirement Account to pay her for this bogus program. She never mentioned that taking that money out would cost me 10% and all the taxes that were deferred.
So if I followed her advice I would have been in trouble with the IRS too. LOOK OUT FOR THIS PEOPLE! They will be emailing you soon and they won't stop because they know their story will convince even the shrewdest person because if you are in bigtime credit trouble you WANT to believe them that you don't really owe the bank the money you charged, and the banks are conspiring against you, and that the banks have to clear up your credit.
So look at what they offer: For a measley $2500 you get a perfect credit rating, zero balances on all you outstanding credit(up to $25,000), all your creditors will legally have to stop contacting you and all your credit problems will go away! ALL THIS FOR $2500 and 2 letters to each bank or creditor. Like I said, who wouldn't want to believe that. Watch out!
Dee
concord, California
U.S.A.
2 Updates & Rebuttals
Dee
Concord,California,
U.S.A.
HI Dolly
#3Consumer Suggestion
Fri, July 30, 2004
Yes, Dolly, it was you who tried to sell me. A female marketer, you, Dolly. You were the one who told me to liquidate my IRA to pay for your services. No wonder no body else remembered the conversation. Because it was you who had the conversation. As far as your firms legitimacy, I hope you do help people.
But, as far as your predatory marketing techniques, your spam style dishonest emails that pretend to know the person being contacted and your moutn dropping story about the banks, the Fed and the illegal credit contracts just to bilk some poor slob into giving you their last $2000 so they can attend some classes they don't need so they can hope to get rid of the credit problems like magic. Gimme a break.
IF this worked once the good news would spread all over the place, on every TV show, radio show and there would tons of new books out about it. Think about it, Dolly instead of taking $2000 from one person at at time, you could write a Dummies book and make $10 from millions of people and put the entire banking industry out of the credit business for good. Now go get you sword and start slaying some windmills.
D Grover
Boise, Idaho,Idaho,
U.S.A.
Rebuttle from DRSM legal Team...
#3UPDATE Employee
Thu, July 29, 2004
DRSM offers the following in rebuttal to the claims made by Dee.
First, DRSM has searched its databases and has been unable to locate any person named Dee. Further, she refers to speaking to a female marketer, of which there are few. We have spoken to all of the female marketers and none recall a client named Dee nor any conversation resembling that described in the complaint.
DRSM marketers have not been advised to suggest clients to close out investments for purposes of paying for services. Even if this would have been suggested, it would not cause trouble with the IRS, as Dee misstates, a person who withdraws funds prematurely from such investments simply has to pay additional fees and applicable back taxes if it was tax deferred. As a precaution, we have sent an additional notice that this type of request will not be tolerated in the future.
If you read the complaint carefully, you will notice this person did not sign up for DRSM services (..if I followed her advice..) and therefore cannot possibly accurately state the quality of our service or materials. She also misstates the materials DRSM offers, if you are interested in what DRSM does in fact offer, you can check out the materials yourself and ask questions on live conference calls.
There is a 10-day money back guarantee on the initial educational materials. In addition, an internal investigation suggests that the post was made by a competitor, or in agent thereof, who lost many of its marketers to DRSM. Simply stated, we feel this is a fraudulent post. DRSM has hundreds of new clients every month. Surely if it were a bogus operation BBB and/or Rip-off would have many, many complaints.
As one can easily see, no such plethora of complaints exists. Should you have any concerns, please feel free to speak to us directly. We look forward to serving you should you decide it necessary.
Signed,
DRSM Legal council