Getting involved with iWealth Inc has turned out to be the biggest financial regret of my life, and I'm only 22. It all started in August of 2001 when I bought an ebook that I had received through a spam email called "Mining Gold On the Internet". Then in late May of 2002 I get a call from this guy from iWealth. He told me they were a company that specialized in helping people create successful businesses on the Internet and that they had gotten my contact information as someone who was interested in starting an internet-based business from back when I purchased the Mining Gold ebook.
He basically asked me some questions and asked if I'd like to take things to the next level, which I was curious and so went on with it. He said he'd have to transfer me over to his supervisor or manager or whoever was above him. Which he did and I talked to the supervisor. He tells me how with their help I could be making $3,000-$4,000+ a month, that they have a 6-month guarantee where if I didn't make my money back and/or meet a monetary goal that was set within 6 months, that they would continue to help me for free up to a year. I said so you guys basically would give me an edge over the average person trying to business online, he said yes.
He told me that for $6,942 I would get a 1 yr membership to wholesaledropshipper.com (who later informed me that membership with them was only $50 a year and that they had never billed me for anything from iWealth), a merchant account(which he later said would be $29.95 a month), search engine rankings (he says "we'll get you in like the top 30 or 40"), 5 coaching sessions (told me that there was another package for somewhere around $10,000 that I would get 10 coaching sessions but he recommened starting at the lower amount, trying to sound like he's my friend), guaranteed traffic to my site and a website showcase.
He tells me that they sell 1,000's of the Mining Gold ebooks a month, and that they know how to market products on the internet. He stressed more than once that the $6,942 expense was 100%, completely tax deductible. At the time I was only 19 and wasn't sure exactly what that meant, but how he seemed to be making it sound, I would get all or just about all of the $6,942 back come next tax time, since it could be written off as a business expense.
About a month after getting into this, I finally had one coaching session with Adrian Ungricht. The next week I get no call and call to see what's up. I'm told he left for New York and that I would be set up with a new coach and have my coaching sessions start over, which turned out to be Joseph Hill, and probably about the only decent person I ever talked to associated with the company. He once told me about some other people complaining that they could never get responses or much of anything else from iWealth. From what he said he was just contracted to teach iWealth students, and wasn't actually with the company.
Before having any coaching sessions with Mr. Hill, I called iWealth to try to get out of it, and got some younger guy that said the supervisor wasn't in, so I talked to this guy some about the situation. He asked how much money I put into it and sounded almost concerned as he asked the question. Then he asked me something else and sounded concerned then too, almost as if he was worried that I got screwed. Not sure what that was about, but just helps illustrate that there's something not quite right about the company.
Anyway, I really just wanted out of it and wanted my money back, especially after reading on the coaching contract that I "found" (wasn't told about) that coaching sessions would not start until they had received the coaching contract signed by the client and that money would not be deducted from your credit card until that time, and I never sent in that coaching agreement. So I wanted to talk to a supervisor there about getting out of it. Here are some notes I wrote down at the time about the matter:
"Thursday, June 13th and Friday, June 14th - I have a called the "corporate office" numerous times and can't seem to get to talk to who I need to. Supervisor was supposed to call either Thursday night or Friday morning but never did. Secretary never called back Thursday night either, I had to call again. On Friday a little after 2pm I called to talk to the supervisor and was told he just went to lunch. I called back at about 4:15 and was told he still had about 40 minutes on lunch break. That would be a 3 hour lunch break? Left a message twice."
A few days later I finally talked on the phone with the supervisor, T.J. Raines. He was the new supervisor after the one I had initially talked to on the phone had gone to New York with Adrian Ungricht. My dad and I both talked to him and went round and round with him for over an hour, but he said I couldn't get my money back because that money was already spent, that it had already gone out to the businesses they contract with. But at this time all that I had had was one 30 minute coaching session, which was scheduled to be re-done anyway with the new coach, you would think the money could just be reversed since services hadn't been used by me yet.
Mr. Raines got somewhat cocky at times with me and my dad and explained that as long as I put effort into it and did my part that I had nothing to worry about and that I wouldn't lose my money. He reminded me of the 6 month guarantee they have. At one point he was practically yelling over the phone "we don't take people's money! We're not about taking people's money!" and said that they were a very reputable business. When asked where the money went exactly he just said that it was a general price for the whole package. Toward the end of the conversation he said how we had been on the phone for over an hour and that his time is very valuable, whatever.
As someone else said on RipOffReport who had a complaint against iWealth, I basically felt forced to continue with this after being told that getting my money back wasn't going to happen. I was told that I could either put effort into it or let iWealth "eat" my money, which I wasn't about to let happen. So I decided I would do everything they said and do my best to make things work so that I could at least make my money back.
But as I found out over the next few months, having iWealth to work with is about like working on your own. I got the rest of my 5, 30 minute coaching sessions which didn't tell me anything THAT ground-breaking. I decided to go with selling ebooks, and my domain name was www.ebooksforentrepreneurs.com(which is currently not viewable as I told them to suspend it so I didn't have to keep paying $29.95 a month while getting nowhere with them). Here are some more notes I made in the weeks and months following my final coaching session:
- Since end of August have had problems/questions needed answered and have got no answers or action despite numerous emails, even a call two weeks ago (as of 10/22/02) to the Help Line. Since August 28th, 10 emails sent, 1 call to Helpline; only received 3 emails in response, no questions answered or work done though.
- After emailing about email forwards not being updated, was told they had since been updated, but they still don't work.
- Was told failure isn't an option. But so far iWealth is making failure the only option.
- What about the 6 month guarantee? iWealth is bound by it. On tape, remember? It's been 5 months now. Haven't made a penny despite making honest effort to follow directions/build site and make things work.
- While not making money its costing me every month for web hosting and eBookWholesaler (the main supplier of my ebooks, completely separate from iWealth).
- Feel that have gotten NOWHERE NEAR a $6,942 value so far. Only things that could be considered a value were the coaching sessions and 1 yr membership to Wholesaledropshipper, which is a waste since I'm not even using it.
- What site (www.iwealthinc.com) said and was told before, to the support/progress I'm getting from it are two different things.
- Why do I have to keep up on you guys? You should be keeping up on me (from day one it has seemed that I'm the one who had to keep pushing them along instead of them motivating me).
- Used to have financial security for someone my age, piece of mind. All iWealth has done is take that from me. Have been nothing but a thorn in my side, done nothing but cause stress and nearly deplete the financial reserve I built up. Luckily I had the money to pay it off, otherwise the interest would be costing me all this time too.
- Called Tuesday night (10/22/02) to the office, talked to lady, she said my emails were in their inboxes. So why haven't they been tended to?
- As of 10/24/02, it has been two days since talked to lady on phone, said she herself or someone else would get in contact with me the next day (yesterday) and so far have heard nothing and see no changes to site or Manager Console.
- After more runaround, finally got called back by Chris Armstrong (supervisor)(took over for T.J. Raines after I was told he went to work for Business Development Group, people always seem to be moving) on 10/24/02.
- Never received a response to a two-page typed letter, a complaint explaining that I wanted to see some written documents/ a contract, etc., sent certified mail. Even said I would file more complaints (with the FTC and BBB) if I didn't get a response. Got the receipt saying it had been received on 6/12/03, but as of 8/4/03 still haven't received any sort of response to it.
Frustrated with way less than acceptable service from iWealth, I called within a month of two of 8/4/03 and wanted to talk to a supervisor again. This time it was Bob Gallo who I guess had replaced Chris Armstrong. Again, my dad and I both spoke on the phone, but this time to Bob Gallo.
But as before it was to no avail. He mentioned my two-page typed letter that I had sent and asked about my accusations that I had reported them to the FTC. He says something like "it says here that you're accusing us of fraud??" in a sort of tone of suprised disbelief. He asks which branch of the FTC I contacted/what number I called. He dismisses some of my complaints, and asks what my real complaint is. It came down to me not being able to get responses to my emails. He asks if I have copies of old emails sent to illustrate my point and I said yes. So he wanted me to send them to him, which I did.
A few days later I speak with him on the phone again and he tells me how I need to put some effort into it and that they're not going to be responsible because I didn't make an effort(I worked very hard and spent ALOT of time on my site, one of the support girls told me before that my site looked very nice, and I had done everything I was told to the best of my ability), he says something about needing to work closely with support. I asked how I was supposed to do that when I can hardly ever get responses to my emails, and mentioned the emails I had sent him. He says "that's not how I interpreted them" (and unless he's blind I don't know how he couldn't see that I started off almost every email asking why I hadn't gotten a response to the previous email). He asks what it is that we (my dad and I) wanted him to do. My dad said give Brian his money back. Mr. Gallo says "that's not going to happen." Finally the conversation ends when after some more complaining Mr. Gallo says "This conversation is over" and hangs up. I would later learn that Mr. Gallo moved to Chicago for another business venture. As I said, they always seem to be shifting around.
In the few months that followed I continued to try to get things going for my site and get some sales, all to no avail. After some email and phone call exchanges (I usually had to keep making phone calls because email responses I never seemed to get) they finally agree to send me back $1,000 which was the search engine rankings portion of the package. They said they would send that back since they could no longer provide the search engine rankings as they had before (in the past I heard they contracted a company to do it for them, but I was simply given a software program (valued at around $180 I believe) to use to figure out the search engine rankings myself).
I was informed that I would get that money back on January 29th, 2004. A few weeks go by and I don't get any checks in the mail so I contact them and finally by April they say that I will be getting 4 checks for $250 each for a total of $1,000, the last of which I should have received on April 30th. Well, I got the first two checks, then they stopped. So I call them again and Tera Huffman who I spoke with told me that they were having budget problems and that she would have to speak with someone above her about getting the two remaining checks to me and that she would get back with me. She never did. This went on for several weeks. Finally after calling yet again she tells me that the two remaining checks were scheduled to go out. I never received anything.
When I called to find out what had happened this time, all I would get is Tera's answering machine, which I left a pretty firm message on. Still I get no response. After a few days I call another number and speak with Jeanie Gavalanes (seems to also go by the last name Rodriguez?)and she tells me that Tera was on vacation and would be back the next week. She said she would leave her a note to get in contact with me when she gets back. I never get contacted. So I call Jeanie again and ask her about it, now she says that Tera no longer works for iWealth. Nice for someone to let me know.
About a week after that whenever I call any of the iWealth numbers I either get a busy signal or get an automated message saying that the number is no longer in service, or something to that extent. I also notice that the www.iwealthinc.com site is no longer up. However their site www.eximpact.com is up. I look on there for how to contact them and all it gives on the contact page is a postal address. No email address, phone number, or anything else.
So since that time to the current (7/29/04) I have had no contact with anyone from iWealth. I never got the remainder of the $1,000 I was supposed to get back (although I feel I should get every bit of my $6,942 back because I got no where near that value).
In conclusion, iWealth never did anything for me that I couldn't have done by myself. From day one they have been hard to get a hold of and have never been good at all about getting back to me or checking up to see how things are going, it was always me that had to keep them moving along. I was 19 when first getting into this mess and for that age I had alot of money saved up in the bank, all iWealth did was deplete a vast majority of that money. Thankfully I was able to pay the $6,942 in cash or else the interest on it would have been terrible since it was on credit card.
I basically pleaded with Bob Gallo and others at iWealth to refund my money, or at least half of it or so because it was something I really didn't want to be in and only got into it on a stupid impulse, plus they had shown themselves to be anything BUT what they made themselves out to be in the beginning, and I needed that money for collge expenses and a newer car, but they don't care.
I didn't pay $6,942 for the bullcrap I've gotten from them. They GROSSLY overcharge (and the fact that I paid more for about the same stuff than anyone else who filed a complaint that I've seen just helps show that there's not much of a real value to what they "provide"). Had I known they were going to suck like they do and give me the run-around all the time I NEVER would have gotten into it in the first place. Or if I had an actual contract to sign I never would have gotten into it either, but over the phone it was just an impulse.
After telling T.J. Raines in a phone conversation once that they should give a mandatory period of 24 hours for someone to decide if they really want to make the investment he said, "You know why we don't that? Because then people will come up with some reason not to do it." To me that sounds like, "and then we don't get their money."
These people are trash and it's obvious that they don't give a d**n about their clients or anyone else except themselves and THEIR bank accounts.
To you others like me who have been screwed by these guys and filed reports on here, we need to band together to file some sort of class-action law suit. It may be the only way we get our money back as we rightfully should, because as in the case of the FTC, they won't look into a company unless they get alot of complaints about it. So I urge you to file complaints with the FTC and BBB against iWealth/EXI Technologies and its associates if you have not done so already.
I would like to get in contact with you guys if at all possible so that we can work together to get our money back. I'm sure there are alot of others out there who got ripped off by iWealth but who haven't filed complaints, or who just simply don't know about RipOffReport.com.
Lets see what we can do. Lets get our money back!