I am submitting this Ripoff Report so that others are aware of these companies business practices. Although I did my research, I only researched & found nothing negative on one of the business names that these scammers are operating under.
Please be sure to check all the company names used by these crooks. I was taken for almost $10,500 although I'm still fighting it with them to get it refunded they have make it difficult by not returning phone calls. I'm outraged now for the mere fact that the company did not provide me with the service that I paid for.
I have been buying & selling on eBay since 1998. I was encouraged by this company to sign up with them to be able to have access to thousands of their wholesalers and their wholesaler products. It was so enticing as for one I was not going to be investing my money upfront to purchase product and carry any stock meaning that I would only get to purchase the product that I sold when I sold it and have these so called wholesalers drop ship the merchandise directly to the winning bidders/customers.
It sounded excellent at the time and this would save me time & money as what I had been selling and still are today were items I found in estate sales, garage sales, retail store holiday sale items & family members used or worn items etc. This company was going to have me making BIG money in no time so they said without me having to waste my weekends at estate/garage sales on items that I may or may not be able to sell they said.
Mr. Dave Andrews from IBS sold me on the fact that I was going to have access to all their wholesalers and sell their products and not purchase those products unless I sold them first. Of course I would know he said what my cost was before selling and I would decide what my profit margin would be per item. He gave me the example of selling TVs for instance.
He knew I had been selling on eBay so he said if I had access to flat screen TVs at $500 I could start my auctions on eBay at $600 and since the retailers are selling those TVs for over $1000 that for sure I would get many interested buyers and have a bidding frenzy and even if the winning bidder won the auction for $800 my profit would be $300 for 1 unit and I could then offer the non-winning bidders a 2nd chance offer to buy at their higher bid and be able to sell multiple TVs for BIG profits.
I bought into it except once they had me hooked, the program did nothing of the sort. I did not get anything close to it which is why Im disputing the charges.
I signed up for this program on 9/20/2011 and I was going to receive 17 weeks of live coaching which started until 10/5/2011 and after the 17 weeks I would have unlimited online coaching. Of course my assumption was that on their online site that I was given a login to would have all these wholesalers information & products to browse through but it was not the case.
The coaching was about teaching me how to sell on eBay. It was not at all what I was told because I would have never signed up for such a thing since I have been selling on eBay since 98 and eBay has selling courses online for FREE. When I mentioned this to the coach at the 2nd or 3rd phone call I was told that this was a process that everyone needed to go thru to be sure everyone was doing it their way as it was their wholesalers who would only do business with people that had completed their course and they referred. (what?). Another answer was that they would teach me how to write letter to wholesalers to get approved with them to sell their items at that point was when I realized I was being scammed as it was not at all what I paid for.
Needless to say I never got what I paid for. I was suppose to be selling their so called wholesalers merchandise by the Thanksgiving & Christmas Holidays which are when the biggest sales take place. They lied, deceived and cheated me.
I only agreed to this program because I figured with the type of product profit margins I was being told I could make I would have this paid off in no time and start really making the money. I was told that the money I could make would totally depend on how many hours I was willing to put into the business but that their part timers were making $7k - $10k/mo.
I am desperate to make money as millions of us are. I have excellent credit and its been hard work to keep my credit in good standing to have this one company ruin it all for me by having this high balance owing on my credit cards.
P/S. Around the 2nd week of January I got a call from the CEO of IBS Mr. Jonathan Bishop. He apologized to me & said he would personally handle it. I thought I saw light at the end of the tunnel as he was very apologetic and very charming and promised to help and personally handle the matter. I asked him to listen to the conversation I had with Mr. Andrews on 9/27 at 3:07pm pst; in this recorded conversation, I spoke to Mr. Andrews for over an hour.
The conversation was recorded by IBS is what I was told and is where Mr. Andrews explained what I have mentioned above and also said that I could cancel at any time for a full refund but to give the program a try that I would not regret it and become his best friend because I was going to be calling him back to thank him for getting me into this program. He also added that my other option would be to dispute the charges with my credit card companies so either way I was covered.
Few days later on 1/19/2012 got a call back from Mr. Bish at which time he said he was having a hard time retrieving the recorded conversation but he wanted to make me an offer. He offered for me to stay with the program and refund me $5000 (I recorded the conv). I told him I wanted him to listen to the conversation. That was the last time I spoke to Mr. Bish. I have left many calls for him calling every other day leaving voice msgs & he too is not returning my calls now.
Don't get scammed. Do your research. My credit card statement showed different companies that made the charges (MyMoneyPOW8014864221 & another under Online 2 Income Seminar) and not who I was talking on the phone with (IBS = Internet Business Systems, LLC or PSC = Power Seller College). The copy of the billing invoice came by email from another company (Global Marketing, LLC) and finally the coaching and internet access was with PSC = Power Seller College who after contacting them about cancelling and getting a refund said that they could not provide me with a refund because they never charged or billed me for anything. Since dealing with this mess for months I have found many other names for them as listed here:IBS; IBS World Corporate; Internet Business Systems, LLC.; Internet Business Systems, Inc.; Global Marketing, LLC; Online 2 Income Seminar; My Money Power Systems; My Money POW 8014864221; PSC; Power Seller College; Power Seller Collegetech.