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Report: #477458

Complaint Review: USA Survey Group - Internet

  • Submitted:
  • Updated:
  • Reported By: Arcade New York
  • Author Confirmed What's this?
  • Why?
  • USA Survey Group www.usasurveygroup.com Internet U.S.A.

USA Survey Group Is a scam! Internet

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I had fullfilled all requirements to recieve a $125 converse gift card. Waited for many months, when finally I get this form stating I needed to buy something send in my reciept and then I would be reimbursed. I could buy anything as long as it valued at least 125 dollars. This all needed to be done with in 30 days. I did this mailed it all in. It stated that I would recieve my money in 8-10 weeks. This form was dated 1/26/09. Nothing came, heard nothing. Continued to contact them. They said that now they were experiencing delays in cash back fulfillment, and the discover of "inconsistencies" and there was toing to be a full audit of certificates. They didn't know how long this was going to take. This was in May. Then in June they stated that they were finishing up the audit and then checks will be mailed. Again no time line. Today 8/7/09 this is what I recieved:
Thank you for contacting us.

According to our records, you may be a claimant of USA Survey Group. Active Respons e Group,
Inc. (?ARG?) is the parent company of USA Survey Group . As you know, many businesses have been hurt badly by the financial downturn and the credit crunch that followed the collapse of the subprime mortgage markets. ARG, like many other firms, though not involved in any way in those activities, has seen its revenues drop dramatically. As a result, we found ourselves in very serious financial difficulty.
Despite taking various steps to reduce our costs and preserve value, we became unable to make our debt payments to our senior lender, Hercules Technology Growth Capital, Inc. (?Hercules?). Hercules had lent ARG $10,000,000, which senior loans were secured by all of our assets. Since we were unable to pay our current payments, Hercules declared the loans in default and began to exercise its rights under the loan agreements and State law to recover its loans outstanding through an agreed upon asset sale process.
Through this process, ARG is working with Hercules to complete the sale of all of ARG?s assets in an auction. In the meantime, Hercules has agreed to permit us to use its collateral t o fund a bare bones operating budget in order to allow ARG to continue enough operations to be able to still seek a buyer of ARG as something like a going concern. Unfortunately, since any claims you might have are unsecured, and therefore in any liquidation scenario would be junior to the claims of Hercules, who holds a valid senior security interest in ARG?s assets and any proceeds from the sale of ARG assets, no funds have been allocated in the budget to satisfy any consumer prize claims.
Hercules? agents have scheduled the bidding on ARG?s assets to end on July 23. Only after the results of all of Hercules? and ARG?s Management?s efforts to sell our assets and business are determined will we be able to say whether there will be any funds left over after Hercules applies the proceeds of any such sale to its loans outstanding. At this juncture, we cannot determine whether there will be any surplus at all. However, if there is sufficient interest by a sufficient number of bidders, it is still a possibility.
Should you have any questions, please contact us via email at support@cs.Brandarama.c om . While our customer service center is no longer in operation, if we are in a legal and operational position to do so, we shall try to keep you informed of material developments in this process. We are of course very disheartened by this turn of events, as we know you must be. We thank you for your patronage and wish you the best.
Very truly yours,
Customer Care Department

Brandarama Member Support

Please feel free to contact us if you have any additional questions.

Sincerely,

Sherry
USASurveyGroup Member Support



Looks like I will be getting Jack! What a run around.

Arcade, ny
Arcade, New York
U.S.A.

This report was posted on Ripoff Report on 08/07/2009 01:27 PM and is a permanent record located here: https://www.ripoffreport.com/reports/usa-survey-group/internet/usa-survey-group-is-a-scam-internet-477458. 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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