ED Magedson – Founder
ComputerTraining.eduInternet United States of America
On Christmas Eve, ComputerTraining.edu is shut down by BB&T and forced to close all schools and corporate offices with no forewarning or notice to students, employees, management or shareholders.
After seventeen years in business, on Christmas Eve December 24th, 2009, ComputerTraining.edu was sent an email notifying them that their primary financier, BB&T bank, had frozen their line of credit, bank accounts and was seizing all assets immediately. They also instructed ComputerTraining.edu to lock down all locations and not allow employees access to collect personal belongings. This request stunned the ComputerTraining.edu management team who refused to comply. All employees were allowed access and terminations were made face to face.
Regardless of the fact that there were sufficient funds to do so, BB&T decided not to pay ComputerTraining.edu employees or keep training centers open to allow enrolled students to complete their schooling. Several attempts have been made by ComputerTraining.edu management to remedy the situation without success.
ComputerTraining.edu is a Nationally Accredited Institution and has placed thousands of graduates into IT careers over the years. Graduation and placement rates were among the highest in the industry. Current students should contact their state's board of education as soon as possible to work through refunds and remedies. ComputerTraining.edu has posted surety bonds and restricted cash deposits with the states which will be used to help students transfer to another school or obtain refunds.
ComputerTraining.edu is working together with Sallie Mae and all State Agencies to ensure that BB&T does the right thing and teaches out the classes and/or guarantees all refunds. Students have lost their education, employees have lost their jobs and shareholders have been bankrupted. None of this was necessary and could have been avoided had BB&T taught out the classes the way that management recommended and had done in the past.
This report was posted on Ripoff Report on 01/04/2010 12:16 PM and is a permanent record located here: http://www.ripoffreport.com/reports/computertrainingedu/internet/computertrainingedu-forced-to-close-by-bbt-internet-549583. 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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