This company called me out of the blue, caught me unawares, and I signed up with them before I understood what was going on. After the call ended, I knew something was up, it just didn't feel right. I had a gut feeling.
I contacted my credit card company, reported my card stolen to keep IWB from charging me anymore $. My credit card company has started an investigation on this company at my request, and have told me that if they think the charges are fraudulent, I am covered, according to my agreement.
I researched IWB, found this rip off reports website, and it confirmed my suspicions. On my own, I contacted Equifax, told them of my previous membership with them, and discovered that they DO NOT send out referrals to IWB or any other company on folks with good credit scores. They are required by law to keep my information private and secure. I would assume this is true for all credit reporting agencies.
IWB will tell you that they received your name from a credit reporting agency, and that they will help you to reduce your debts by at least $1500, and that they make their money from the credit card companies, who pay them the money you save by reducing your APR and other interest rates. My credit card company told me they have never heard of this company, and that the whole concept seems fishy. I would trust my CC company before I'd trust some unknown company that calls me from out of the blue.
I am continuing an investigation on my own and with other authorities to get to the bottom of this. If these people are legit, fine, but if they are frauds, then I will work at putting them down/out of business and sending the owners to prison, where they belong. Anyone who takes advantage of honest hard-working Americans deserves no less than that.
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