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Report: #256141

Complaint Review: WEBCHEX INTERNATIONAL - Internet

  • Submitted:
  • Updated:
  • Reported By: Duluth Georgia
  • Author Confirmed What's this?
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  • WEBCHEX INTERNATIONAL CONSUMERBILL.COM Internet U.S.A.

WEBCHEX INTERNATIONAL, EQUITY 1ST SAVINGS DISHONEST MISLEADING FINANCIAL PREDATORS. FRAUDULENT BILLING. DO NOT NOT ADHERE TO OWN TERMS & CONDITIONS INTERNET *EDitor's Suggestions on how to get your money back into your bank account!

*UPDATE Employee: Response to Report: #256141 Report: WEBCHEX INTERNATIONAL

*Author of original report: Letter I faxed to Webchex International

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This company said it would contact me by telephone to do a verification before I could get approval for a $10,000 unsecured loan. The terms and conditions DID NOT state this was a prepaid loan of some sort.

I was never contacted by phone for verification of my identity or anything and 10 days later my bank account was debited $124.90. When I contacted the company to try to get a refund I was flat out told NO.

The "terms and conditions" are written in a way to prey on the already financially disinfranchised. They are misleading in not only how the "loan" works but how you can obtain such loan.

They do not follow the procedure they themselves set forth. They are using fradulent billing to gain profit by "approving" and billing everyone who applies without even contacting the applicant.

They shoot first and don't even ask questions. They assume NO responsibility in helping consumers prevent identity theft and put additional burden on consumers by not verifying information of applicants providing ample breeding ground for identity theft.

Misty
Duluth, Georgia
U.S.A.

EDitor's Suggestions on how to get your money back!

HERE IS WHAT RIP-OFF REPORT SUGGESTS YOU DO:

Go to your bank within 60 days of the charge, or as soon as you know about the charge, don't delay, and tell them that there has been fraudulent activity within your account. Explain that you wish to file a dispute, and demand that they assist you in accordance with Federal Regulation E.
According to the majority of victims interviewed by Rip-off Report, those who immediately called their banks to dispute the charges did not get very far. Many victims got the following responses from their banks: we could not do anything for you or you waited too long; it has been more than 60 days.

If the bank is says that you have waited too long, explain to them how you called their 800 number as soon as the charges were found, and were told by the bank that nothing could be done. Remind the bank that they failed to assist you properly at the 800 #, and instead, provided you with an inadequate explanation of your right to dispute. Tell the bank that it's their fault time has expired, and since they gave you the wrong info to begin with, they will just have to deal with it, take the loss and reverse the charges.

Tell them the truth; this was unauthorized and your account was NOT to be charged! Keep emphasizing how you never authorized anything! Direct them to the hundreds of victims reports that were filed on Rip-off Report.com. And if you're at the bank, walk them over to their computer and make them go to this site! If you are on the phone with them, tell them you will wait while they access this site! Either way, be persistent!

DO NOT TAKE NO FOR AN ANSWER!

Let them know nicely, that you were advised to Report them (the Bank) and this situation to the Banking Commission in your state. Since each state has a different name for the agency/controller over banks, find that name before you call or get to the bank so you can throw it in their face. The more knowledgeable you appear to be, the further you will get.

And just continue to demand the Federal Regulation E form! The bank CAN, MUST and WILL reverse the charge! But, you must be persistent; ask to speak to the supervisor or the area manager for all the branches in the state.
Let the bank personnel know you are meeting with the media later in the day, that you would much rather they do the right thing (as most other banks have) by looking at the complaints and immediately reversing the charge(s) to your account; no matter how long ago it was. Be sure to call the Media if necessary so you are telling the truth.

If you have to, be loud (but nice) in front of other customers. If you are just calling by phone, the above tactics should still work. The bank can easily fax or mail to you the Federal Regulation E dispute form.

CHARGES TO YOUR CREDIT CARD

If the charge was to your credit card (not debit card, check card, or checking account), contact the credit card company as soon as possible to request a dispute form. Consumers usually have a little longer to dispute fraudulent credit card charges (up to 6 months), but it is better to act right away. In this type of situation, credit card disputes are usually successful since fraudulent companies often won't contest the disputed charge. In rare cases, credit card companies will review disputes, but refuse to reverse the charges. If this occurs, complain to a manager and let them know you will be filing a report here.

Remember Don't let them get away with it! Make sure they make the Rip-off Report .. The more Reports filed on a Company or individual, the more likely it is that the authorities, media and attorneys will want to take action.

And good luck Let us know how you do!

ED Magedson Founder, Rip-off Report.com & Author of www.ripoffrevenge.com
EDitor@RipoffReport.com
badbusinessbureau.com
www.ripoffreport.com

Don't let them get away with it.
Make sure they make the Rip-off Report!

We are not lawyers.
We are not a collection agency.

We are Consumer Advocates.
...the victims' advocate

WE are Civil and Human Rights Activists

We are a Worldwide Consumer Reporting News Agency
...by consumers, for consumers
CLICK HERE to read about Credit Card Scams... find out how to get your money back. *Rip-off Report Investigation provides valuable information.

This report was posted on Ripoff Report on 06/22/2007 07:10 AM and is a permanent record located here: https://www.ripoffreport.com/reports/webchex-international/internet/webchex-international-equity-1st-savings-dishonest-misleading-financial-predators-fraudu-256141. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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Updates & Rebuttals

REBUTTALS & REPLIES:
0Author
2Consumer
0Employee/Owner

#2 UPDATE Employee

Response to Report: #256141 Report: WEBCHEX INTERNATIONAL

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

POSTED: Monday, July 09, 2007

Webchex International goes through various means of verification to ensure that the information on an application is accurate. Telephone verification is just one of the precautious steps that we take. We also take fraud and/or identity theft VERY seriously here and will always assist in any investigations regarding these issues.

This is exactly what the terms and conditions state that shows that the program we offer is not a cash out loan: "By Submitting this Application, you agree that:



1. The information provided is true and complete, and you accept Webchex International, (FSSecured.com) offer for a Secured Installment Loan Account with the understanding that my secured account will be provided by a lender within the Webchex International network. I understand at no time do I have access to the collateral account and it will be used to secure the obligation attached to this account. The owners of the Collateral Account retain all rights to the collateral and the secured account holder agrees to be bound by the terms and conditions of the Security Agreement.

2. NOTICE TO APPLICANTS: (A) Do not use this account before you read this agreement; (B) The total contract cost of the Secured Installment Loan Account is $99.95 plus $24.95 per month for a term of 12 months by the Applicant; (C) You may at any time pay the full unpaid balance of this agreement without penalty or additional costs; (D) This Secured Installment Loan Account is NOT A VISA OR A MASTERCARD; (E) THIS IS A SECURED INSTALLMENT CONTRACT WITH TERMS AND DOLLAR AMOUNTS CHOSEN BY THE APPLICANT; (F) THE SECURED INSTALLMENT ACCOUNT IS NOT A CASH LOAN AND PROVIDES NO CASH TO THE APPLICANT. ALL COST ASSOCIATED WITH THIS ACCOUNT ARE CREDITED TO APPLICANTS SECURITY PROVIDER. Any holder of this consumer credit contract is subject to all claims and defenses that the account holder could assert against the seller of goods or services obtained pursuant hereto with the proceeds hereof. Recovery hereunder by the debtor shall not exceed amounts paid by the debtor.

These terms and conditions can be found at www.equityfirstsavings.com under the Program Terms and Conditions link.


Webchex International follows the cancellation terms with a strict policy. It is clearly stated within the terms and conditions that are agreed to upon application that no refunds will be given for accounts that are not cancelled within 72 hours of application. This can also be found at www.equityfirstsavings.com under the Program Terms and Conditions.

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#1 Author of original report

Letter I faxed to Webchex International

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

POSTED: Friday, June 22, 2007

June 22, 2007

In regards to: ACCT. # XXXXXXX

WEBCHEX INTERNATIONAL AKA EQUITYFIRST SAVINGS
FAX: (800) 633-7394

To Whom It May Concern:

SUBJECT: UNETHICAL BUSINESS PRACTICES

I am writing this letter because of the misleading and dishonest business practice you use to prey on the poor for your own financial gain. I have already forwarded a copy of this letter to the Better Business Bureau.

I applied for an UNSECURED loan with your company. I filled out the application and was routed to a page setting forth the steps that would be taken by your company in order to obtain an approval. Imagine my surprise when 10 days later my bank account was debited from your company for $124.90 yet NO representative from your company had contacted me. In fact I have NEVER been contacted as of today's date.

I requested cancellation of this account as soon as I was aware that you would continue to take my money rather than GIVE me an immediate loan which is what I was seeking. I requested a refund of the monies you took from me which increased my financial burden. This company flat refused to make an ethically correct decision to refund the balance that was debited without ANY verification by phone as was set forth in your own "terms and conditions".

Is this done because the company realizes many people who are not financially savvy would opt out at that very moment when they have a better understanding of how this "loan" actually works? The company hides behind the consumers' responsibility to read and understand the "terms and conditions" however said company does not it self fulfill terms and conditions.

I admit I did not understand what I applied for. I did not know it was a "prepaid loan". I'd never even heard of such a thing! Had I been contacted by phone as was conveyed to me as the very first step in gaining an approval or had you been willing to refund me in what was obviously a mistake it would not appear as though your company is corrupt preying on the poor and financial inept.

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