• Report: #190250

Complaint Review: Universal Payment Corporation

  • Submitted: Sat, May 06, 2006
  • Updated: Mon, October 31, 2011

  • Reported By:Myrtle Beach South Carolina
Universal Payment Corporation
PO Box 360432 Pittsburg, PA 15251-6432 Pittsburg, PA 15251-6432, Pennsylvania U.S.A.

Universal Payment Corporation, ISC Ripoff ISC ivention scam artists and finance company led me to believe they would take my invention to shows and such but all they did was take my money and ruin my credit! Oh, I did get a book with a silly drawing for 1000.00. They constantly harass me and threaten me for the balance, they did indeed report my name to credit b.. Pittsburg Pennsylvania

*Consumer Comment: This is pathetic...

*Consumer Comment: Universal Payment scammed me too

*Consumer Comment: I have had this happen to me as well - help!

*Consumer Comment: I have had this happen to me as well - help!

*Consumer Comment: I have had this happen to me as well - help!

*Consumer Comment: I have had this happen to me as well - help!

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In Oct of 2004 Invention Submission Corportion led me to believe they would take my invention "if it was good" and get a patent seach and also take it to shows. All I ever got was a blue book with my invention along with 8 or more like it and my picture in this book.

I should have known they were crooks because they automatically gave me credit to do so with which was at the time Universal Finance Corporation. Since then, I have paid over $500.00 and now they are going by the name of Universal Payment Corporation out of Pittsburg.

Their so called office was in Charlston SC at the time. They (Universal Finance Corp, which has changed to Universal Payment Corp. have reported me to the Credit Bureau for the second time. I almost fell for this until I stumbbled across rip off report and found out more on Martin S. Berger whom happens to be behind both the invention company and the finance company. I am now in the process of turning this over to my attorney and demand my money and more for ruining my nerves and credit! If you have a simular case, please get an attorney or write to me in the rebuttal box.

T
Myrtle Beach, South Carolina
U.S.A.

This report was posted on Ripoff Report on 05/06/2006 10:56 AM and is a permanent record located here: http://www.ripoffreport.com/r/Universal-Payment-Corporation/Pittsburg-PA-15251-6432-Pennsylvania-15251-6432/Universal-Payment-Corporation-ISC-Ripoff-ISC-ivention-scam-artists-and-finance-company-le-190250. 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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#1 Consumer Comment

This is pathetic...

AUTHOR: Kristopher Tiberius Haven - (United States of America)

First off let me say that I am a Full-Time Active Duty Soldier in the US Army as of this date. I have been such for the last 8 years of my life from the date of July 17th 2003.

I have read this supposed "rip-off" report.This site should be renamed the "please whine about it" thread.
The other people who have posted here about the Universal Payment Corporation have obviously not read the fine print, and obviously do not get the idea behind what this company is all about.

The Universal PAYMENT Corporation is a FINANCE COMPANY. They DO NOT take inventions anywhere!!!
In fact they have absolutely NOTHING to do with the invention or the process by which it gets submitted to companies... they are a Loan Shark. Just like the check cashing places. They loan you money from their pockets into the invention companies to pay for your invention submission process.

InventHelp, Invention Submission Corporation, or ANY other competing invention submission business... those are the companies that do the invention submission process. If you don't have the money to pay for the invention process; (which I might add IS GOING TO BE EXPENSIVE!!!) they give you the finance company; that YES they probably own; and try to sell you another product.

This is a common business practice of ALL businesses that deal in ANY service or product. It cuts out the middle man and allows them more control over the entire process.

It is the same thing CAR DEALRSHIPS DO!!! I went to a Ford Dealer to buy a truck back in 2009. I purchased a brand new 2009 Ford Ranger. I had two options, either go through the Ford Finance Company and pay 29% interest on my auto loan OR go through MY BANK... and pay only 7% interest.

SO YEAH if you went through Universal Payment you probably got a little stiffed on the interest. That is WHY YOU NEGOTIATE FIRST AND DO NOT SIGN ANYTHING UNTIL YOU ARE SATISFIED!!! I actually read my contract. I got a fair deal out of it. If I can pay off the entire balance by the end of the

year, I get a massive rebate back on the interest. READ THE FINE PRINT!!!

If your invention sucks, guess what, OF COURSE they are going to submit it!!! You are paying them to submit it, not evaluate whether it is going to be successful. The patent SEARCH service... is just that... a PATENT SEARCH!!! Not a Patent Validity Evaluation. The Patent Office does not look at your invention and compare it to the market; that is what a MARKETING COMPANY is for. And their prices are even more exorbitant than the invention companies. All the Patent Office does is look up a bunch of similar patents to see if your "invention" might violate someone else's patent.

A patent costs an average of $4500 US DOLLARS to complete. That is the total of fees, taxes, and service charges that THE PATENT OFFICE charges people. The reasoning behind why it costs so much is because:

A: It takes a lot of physical paperwork, man hours, labor, and training to put your patent through.

B: If it didnt cost so much the Patent Office would get flooded with every IDIOT'S so called "invention" that got wasted or high and drew some garbage on a cocktail napkin one Saturday night!!! It keeps out the hooligans, morons, and riff-raff; and allows the people who actually give a flying rip about making the world a better place OR just want to make a product that might actually make some money enough elbow room to not have to wait 20 years for their patent application to go through because of some massive waiting list that WOULD BREAK the Patent Office.

Lastly, YOU signed the dotted line. YOU approved the invention submission contract. YOU approved the loan contract. YOU HAVE TO PAY YOUR BILLS ooorrrrr... OF COURSE THEY ARE GOING TO REPORT YOU TO THE CREDIT BUREAU!!! If you don't pay your credit card bill, they kill your credit. If you don't pay

your car payment, they TAKE YOUR CAR, because you do not yet own your car. Until you make the last payment; THE BANK owns your car.

The same holds true here. Until you make that last loan payment, your invention is intellectual property so it belongs to you. However, by signing the loan contract, you gave YOUR WORD as a US Citizen that YOU would pay the bank back. They put their faith in your word. You break that word by not paying and

they are going to take the only thing from you they can... your word. You signed over your WORD as COLLATERAL for them to pay the Invention Submission Company service fee in FULL. The finance company now OWNS YOUR WORD until YOU make the last payment.

SO YEAH; they gave your Social Security number to the Credit reporting agencies... they are REQUIRED BY FEDERAL LAW to do so. They did not report to the credit bureaus ONLY AFTER you failed to make your payment... they reported that you were REQUESTING a loan even before you signed the dotted line. They have to BY FEDERAL LLLAAAAAAAAWWW!!!

Every finance company in the USA is required BY LAW to report ALL activities of their customers (potential, current, and past) to ALL THREE credit bureaus AT ALL TIMES. This keeps those companies from simply stealing your identity. It is the first level in identity theft protection, and is the REASON why it costs so much, and WHY you have to pay so much the company has to cover its operating costs this is one of those costs. It costs MONEY to report to the bureaus. They make you pay for it because they are PROVIDING YOU with the service in the first place!!!

So YES... you didn't pay your bills SO YES... they took action against you. If your invention sucks or if no companies out there like it (A.K.A. [= also known as...] IT SUCKS!!!) then, THAT IS YOUR FAULT!!!

Perhaps you should have done a little research to see IF anyone might actually LIKE your invention FIRST!!! I did... I did 19 years of research in fact. I am putting an invention through right now that if it is successful it will change an ENTIRE SPORTS INDUSTRY... FOREVER!!!

If you actually read the contract you signed without fully reading it, or even just paid closer attention to the TV commercial, you would have read and/or heard the invention submission companys disclaimer:

"Not all invention ideas will be a success. (Insert Invention Submission Company Name Here) is not responsible if your invention is unsuccessful."

HELLLLLLOOOOOO!!!!!!

They are a business providing a service to you for which you pay for... if you want advice on how successful it might be... PAY A BUSINESS CONSULTANT or A MARKETING RESEARCH FIRM FOR THAT!!! That is what THEY do. InventHelp and the others like them ARE NOT here to help you learn if your

"invention" is stupid or not, they are just here to spread the word about your invention to the business world. It is ALL a numbers and luck game. If you get lucky, then you get lucky. If not, then YOU GET YOUR MONEY BACK!!! InventHelp REFUNDS YOUR MONEY if your invention is UNSUCCESSFUL... if you had read your contract or even LISTENED to the sales representative when you did

the interview, you would know that!!!

This is all about business. The world of business is tough and competitive. You think you are a victim? You think you the only one?

YOU!!!

ARE!!!

NOOOOOOOTT!!!

If you are legitimately being screwed over then YES you have a case, but if not... then your lawyer is sitting there laughing his butt off at your expense at how stupid you are, for paying him to legalese something so obviously stupid. He is looking you dead in the face and laughing at you, while he rakes in even MORE of YOUR money.

So stop wasting everybody's time and your money, pay your bills, or get a refund and get on with your life.

OOORRR... you can keep going the way you are, not pay your bills, get a crappy credit score that will haunt you for the rest of your life, and ruin everything you have worked so hard to get all because you can't admit that your invention sucks like every company that told you NO said it did. There is NO guarantee in this business.

If you want someone to take your invention seriously... try doing a little of the leg work yourself.

Ask the invention submission company more questions... suggest some companies they can submit it to... suggest popular publications that would be interested in publishing your press release... DO SOME FREAKING RESEARCH BEFORE SUBMITTING IT TO THE COMPANY!!!

If YOUR invention SUCKS and it fails to hit the market

IT

IS

YOUR

FAULT.
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#2 Consumer Comment

Universal Payment scammed me too

AUTHOR: Phillip - (United States of America)

Hello.

Be aware that when you sign up with Invent Help Corp. ,you need to specify that they are NOT allowed to share your Social Security Number SSN with 3--rd parties.As they will share it with their financier: Universal Payment Corporation in Pitsburg VA.

That company is unjust and will harass you and report your activity to the Credit Bureaus without notifying you of any action,which constitutes a violation of the federal law.

If you plan to finance your invention then you must specify that your social must not be shared with 3-rd parties,such as this company.

Read and be wise,learn from others.Always review information about companies you are about to do business with.

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#3 Consumer Comment

I have had this happen to me as well - help!

AUTHOR: Tvc26 - (U.S.A.)

This very same thing has happened to me, were you able to get help on this?
They charged me about 10,000 of which I still owe over 3000 of and it is on my cresdit report, they constantly call me. What can be done? Thanks, Tom.
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#4 Consumer Comment

I have had this happen to me as well - help!

AUTHOR: Tvc26 - (U.S.A.)

This very same thing has happened to me, were you able to get help on this?
They charged me about 10,000 of which I still owe over 3000 of and it is on my cresdit report, they constantly call me. What can be done? Thanks, Tom.
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#5 Consumer Comment

I have had this happen to me as well - help!

AUTHOR: Tvc26 - (U.S.A.)

This very same thing has happened to me, were you able to get help on this?
They charged me about 10,000 of which I still owe over 3000 of and it is on my cresdit report, they constantly call me. What can be done? Thanks, Tom.
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#6 Consumer Comment

I have had this happen to me as well - help!

AUTHOR: Tvc26 - (U.S.A.)

This very same thing has happened to me, were you able to get help on this?
They charged me about 10,000 of which I still owe over 3000 of and it is on my cresdit report, they constantly call me. What can be done? Thanks, Tom.
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