I was cold called by one of the IPA associates. after a breif talk, I agreed to have an analyst come in the following day. there was to be a $1,200 fee for that visitation. he was to spend 45 minutes at my office.
He showed up and spent 4 hours at my office, not 45 minutes,telling me my business was in eminate failure mode. everything was negative. he then outlined what would happen next. he was to come in the following day with a list of services they could supply to me with an associated cost next to them, which I could pick and choose which ones I wanted to pursue. he then had me sign a contract which he waived the $1,200 fee, in the fee line he wrote 0 (i did not get a copy of the contract). here comes the switch...
the following day, I got to my office and there were 3 different guys at my office. a consultant, a tax advisor and an IPA associate. they sat down in my office and asked me how they could help me. I explained that I spent 4 hours with an associate the previous day and expected him to be there that day, no one else. I also said I was not willing to spend all day with these gentlemen and asked if they had my check list as promised.
that is when the IPA associate asked me for the fee of $25,000. I told him there was no talk of a fee other than the waived fee of $1,200 the day before. a smirk appeared on his face and he produced the contract I had signed. on the contract, the 0 fee entrance now read $25,000. I told all of them that there is no way that was on the contract, I would never sign a contract that was for $25,000 and told them the meeting was over. they complained that they had flown all night to get here from Houston. I stuck to my guns and showed them the door.
two days later I recieved a fax from the legal department of IPA stating I had not read the contract and should have had a lawyer review the contract. I needed to pay $2,650.00 in fees and expenses. I had one day to send in the monies or legal actions was to be taken.
I sent a letter to IPA obsolving the contract I had signed as it was doctored after i signed it and I then contacted the BBB in Northern Illinois and filled a compaint.
after receiving the complaint from the BBB i got another fax from IPA. this time there were more insults to my intelligence. the fee was now down to $438.00 in out of pocket expenses. I had one day to respond or legal actions were to be taken.
after calling the lawyer at IPA, the matter was dropped by them and a fax was sent to obsolve me from any fees.
be very careful with these people. they are high pressure, and in my experience, crooked lying business people. I have never been exposed to such tactics in my 20 years in business. they should be ashamed of themselves for trying to bully people into paying for doctored contracts.
haddonfield, New Jersey