On July 13th-15th after attending a free seminar offered by Rich Dad Academy I attended a $500 class. On the second day of that class the entire class was advised to do an experiment to get their credit card limit increased (and their interest dropped) to possible finance real estate deals.
On the 3rd day of the seminar the instructor went into high gear with a great salesman pitch and sold classes ranging from $8,000 to over $40,000 dollars promising great results and a savings if we bought the program on that day. I really thought the course would work for me. But I didn't have enough information to make such a hasty decision.
Foolishly I found a partner and bought a $34000 dollars program which included a mentor. After realizing I didn't need and couldn't afford it I downgraded within 2 days to a $24,000 package. Although my full time livelihood was in jeopard I signed up for the course because we were told that this would be the last investment we would be making in training after the $500 and the $24,000 and that we would be able to call the 1-800 number and get information.
I was embarking on a real estate career and I thought that this training would help me. However, within a week someone from the company called trying to sell us a coaching program for $4500. We asked him why we needed to buy this when we had the mentoring package he said that the mentoring was not enough for complete deals and that when we came home from the training we would need a coach to answer questions. (This information was omitted from the first seminar).
At this point I realised that this was a never ending money-pit and that without additonal unadvertised cost I would not be able to make the money that was advertised. Now with the loss of a job I realised that I couldn't afford the further cost so I decided I wanted to back out of the program within a week and 2 days (July 27th). I called the academy and they told me to fax them a letter explaining this. I did this and subsequently mail in the cancellation form also.
I called the academy every day for 3 weeks within which time no one ever returned my calls and I was told that a committee had to meet to decide my fate. Eventually, after calling several times the academy told me that a letter was mailed out to me. I never received the mail to this day but I asked to have the letter emailed to me. I was denied a refund in the letter because it was not within the 3 days. During this time the classes had already begun and I never received any services for the money I spent.
Additionally, my partner called the company because he was confined to a hospital bed for 2 weeks at the beginning of the classes (he has a bone infection in his protesis leg) and is unable to take the course or move out on his own to do any real estate deal. Today he called again and they told him to send in a letter.
This might sound like a cruel joke, but it is the reality of a greedy corporation intent on making money by any means.
I want to get our money back, all $24,000 dollars. I could barely come up with the first payment on the credit card. Also, I do not want to go into bankruptcy for this greedy group. I am worried sick night and day because I am scared that when my unemployment insurance runs out I will not be able to afford my bills and this extra payment on a credit card.
Also, I want to challenge this policy of 3 day return only. You spend $30 to buy a pants and have 30 days to return it, but you spend $24,000 and only have 3 days to make up your mind?
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