• Report: #467943

Complaint Review: Optionetics

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  • Submitted: Thursday, July 09, 2009
  • Last Posting: Saturday, July 18, 2009
  • Reported By:San Diego California
Optionetics
255 Shoreline Drive, Suite 100 Redwood City California U.S.A.

Optionetics not honoring contract Redwood City California


2Author 0Consumer 0Employee/Owner

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Their "Notice of Right to Cancel" says:

"...If you cancel, you must make available to the seller at your residence, in substantially as good as when received, any goods delivered to you under this contract or sale, or you may, if you wish, comply with the instructions of the seller regarding the return shipment of the goods at the seller's expense and risk."

I enrolled 6/29/09. I canceled on 6/30 and was told I'd receive a call with return instructions for the materials handed out at the seminar. No call received. I called 7/1 with same results. I called 7/2 and was told I'd receive email within 2 hours. No email received (and I checked the spam folder). 7/3: I emailed Optionetics about this. 7/6: I called and got yet another promise of emailed instructions. Same result - no email.

7/7: received email stating "Once the Home Study Materials are returned back to us your refund will process." I replied pointing out this contradicts the Notice of Right to Cancel (see excerpt above). No response from Optionetics.

7/9: I called again and spoke with Rita, who acknowledged she is the same Rita who sent me the 7/7 email. When I pointed out the contradiction above, she did not respond but instead promised to file another request to contact me with the return instructions. That was about 15 minutes ago. I'll report back on the results of this promise.

I also read to Rita the following from the Notice of Right to Cancel:

"...any payments made by you under the contract or sale, and any nogotiable instrument executed by you will be returned within TEN BUSINESS DAYS following receipt by the seller of your cancellation notice,..."

She that refunds are taking 30 days. When I pointed out that the Notice of Right to Cancel says 10 days, she said: "this is just a contract they have with everyone." I said, yes, it's a contract, which they are obligated to perform to.

Mike
San Diego, California
U.S.A.

This report was posted on Ripoff Report on 7/9/2009 1:41:10 PM and is a permanent record located here: http://www.ripoffreport.com/seminar-programs/optionetics/optionetics-not-honoring-contr-73a72.htm.

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#1 Update By Author

Optionetics not honoring contract Redwood City California

AUTHOR: Mike - San Diego (U.S.A.)

Did not receive the promised call back from Rita on 7/9. Received email with Fedex pickup info on 7/10. Fedex confirms receipt by them of the home study materials on 7/15. Today is 7/18, which is 19 days after I canceled, and they still haven't refunded my payment. I have already requested an investigation by my credit card company.

My comments and speculation:

1. Note the many times they said they would call back or email and then did not do so. I wonder if this is a delaying tactic.

2. Note how they treat the terms in their Notice of Right to Cancel.

3. Why do they take 30 days to refund instead of the 10 days stated in the Notice of Right to Cancel? And I don't know yet whether they will even refund in 30 days.
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