ED Magedson – Founder
IPA, ITA, IBA1250 Barclay Boulevard Buffalo Grove, Illinois United States of America
SPECIAL UPDATE: October 27 2012: International Profit Associates - IPA remains committed to increased customer satisfaction and has improved their business practices over the years to better serve their customers. International Profit Associates - IPA is truly dedicated to making sure their customers are satisfied and that any complaints which do arise are addressed promptly and fairly.
To date, International Profit Associates - IPA has made good faith efforts to resolve all complaints reported on Rip-off Report. Based on our experience, the member business has proven to be among the top members of the Rip-off Report Corporate Advocacy Business Remediation and Customer Satisfaction Program as a Verified Safe Business.
Over time and since becoming a member, International Profit Associates - IPA has remained actively engaged and improving the way they address customer service complaints. As an active and current member of the Rip-off Report Corporate Advocacy Business Remediation and Customer Satisfaction Program we are happy to report that now more than ever International Profit Associates - IPA remains committed to improving customer satisfaction.
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As it appears to have happened to other complaintents I received a call offering help in turning our mutimillion business into a muti-multi million dollar business.
Now I'm not stupid or greedy,however, I took the bait. The very next day a "Consultant" arrived to deliver his very well scripted pitch. Again, my human nature took over.
Our company manager was also present. We were told, and I quote, "I give you my gaurantee with a capital G, I promise with a capital P, that you will not regret your decision to give us a shot".
Even though this all sounded too good to be true I let them continue their game. The next day a financial consultant showed up to review our financials. (We know now that this was only to review our books to see if it would pay for them to continue their scharade) This financial "wizard" was supposed to stay with us for two (2) days, send information to their experts at the home office who would be working throughout the night coming up with a plan so they could bring a team of experts in to make us rich.
This person stayed a few hours and then presented us a bill for $950.00, which we paid. She said that instead of having the team come back next week she would have them arrive the next day as it was imperative to the survival of our business. We were expecting two consultants from IPA.
The two consultants and a tax strategist arrived as planned. They had me (the owner) sign paper work which I was told was so they could peruse our private information. Of course I didn't read it.
These were supposedly two different companies and what I actually signed was an agreement to get raped by both companies. We were told that there was a whole team of lawyers, tax advisers, former IRS tax code writers, & consultants working on our project at the same time back at the home office.
At the beginning of the first day our manager suggested we see something tangible before we go on. There then was a huge display of emotion on the part of the senior consultant who continued to insist that we needed them if we were to continue in business. Our manager wanted to end this immediately but I was a lot weaker then him. I did have bad feelings about what was going on, and knew in my heart we were being scammed however, I let it continue.
For two days these people put on an excellant show using canned charts, spreadsheets, and the like to try and impress us. The tax consultant had to leave so she could get back and work on our project at the office. She set an appointment for a future date and presented us with a bill for $4700.00, which, against the advice and wishes of our manager we paid.
Her total bill with all the expenses attached would be over $15,000.00. (I'll skip through several hours and get to the point) At the end of day two which was the day the consultants were leaving we were told that this whole analysis was to cost approx. $60,000.00 plus expenses.
They were going to be back next week. What they actually were after is any cash we had on hand. We were told to string our vendors out past 90 days and pay them instead so that they could continue working with us. They had put themselves on a schedule for the next couple of weeks to take all the cash we would have on hand.
The jig was up. Our manager let them know that they did nothing, they weren't taking our money, gave them a check for $5000.00 and asked them to leave. The senior consultant exploded, pounded on the desk, and used vulgar language. He said "we are not leaving without our money" Our manager then left the building taking with him all spare checks so that I could not write any checks either.
He also changed the company computor password. The consultant then let me talk to his boss via phone. Then and there, I was convinced that our manager was absolutely correct. We had been scammed.
The consultants refused to leave. To get them out of the building I signed a handwritten agreement to pay up first thing Monday morning when the consultants arrived.
They left and we immediately called the bank and canceled the checks we had written. Beware, these people are very well rehearsed and don't miss a line.
Terry Clintonville, Wisconsin
This report was posted on Ripoff Report on 09/04/2004 04:16 AM and is a permanent record located here: http://www.ripoffreport.com/r/IPA-ITA-IBA/Buffalo-Grove-Illinois-60089/IPA-ITA-IBA-International-Profit-Associates-Company-Owner-Suckerpunched-But-saved-by-106945. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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