My husband learned about Success Magazine Investor Workshop - motivational seminar in St. Louis. Very enthusiastic, he signed up for the Investools 2-day seminar to be held one week later, and gave our credit card info that day. The sign up agreement touts a "money back guarantee" - that we can receive a full refund if we elect not to return on the second day. All proprietary info needed to be returned on the 1st day.
The following week after sign we were contacted once, if not twice, a day with sales reps wanting to "walk through some things" with us for a week.in hindsight, I can only believe that they were trying to get us to log onto their research website and keep us interested in their very high priced research tool. We genuinely did not have time to sit on the phone with these folks because we were very busy with jobs and family. Thus, we had a relative due to deliver a baby the day before the seminar. (Yes, my husband shouldn't have even signed up for it knowing a baby was due).
I conveyed the baby-due situation to one of their reps and asked them to repeat the refund policy and it seemed clear as day.
We showed up the first day and spoke to the "Seminar Director" before it got started. Once again, we asked about the refund policy, and he return everything by the end of the day.
As for the first day's content, it was very fast-paced for an intelligent, albeit novice about stocks. Moreover, they spent the first part of the morning doing quite a bit of additional motivating, as if enough wasn't done enough at the first seminar. I felt as though, "I'm here aren't I? The first seminar worked enough to motivate me - NOW ACTUALLY TEACH ME SOMETHING." No teaching, just ALOT of motivating and continuous selling of the software and it's features. You have to know quite a bit before you walk in there. Also, the few questions allowed were not answered in full, and we could tell the questioners were still puzzled and disgruntled. They kept mentioning that it was a two-day seminar - "stay tuned for the answer tomorrow" (aka, when we the no-refund policy kicks in).
In short, I'm not refuting that I am a novice (which they never inquired about our current skill set to begin with) It's the major high pressure sales tactics, denial of refund, and BS in customer service that's criminal.
Moving on, by 3:30, we were being summoned by our baby-having relative. We signed a refund document that stated "Please take into consideration is taked 5 working days for theis form to be processed for a refund."
The charge for the seminar showed up 17 days later on our card - and was processed the first day of the seminar. The credit card company said that if they planned on giving us a refund at all, we defintely would have at least seen it in by the 15th day.
We called Success and they said that we needed to fax them the carbon of the refund paperwork. Tried to fax it 3 times - the fax call was unanswered.
I called them back, and was passed around and sent into voice mails 3 or 4 more times. Finally, I reached a "team lead" (which is basically a nobody in the call center world, and I can say that because I worked at one). She said she never reached my e-fax and without that info it would take 30 days to process the refund.
My arguments were: 1) we informed many people on their end that we wouldn't be staying and they still didn't refund us. 2) Why do I have to send them any paperwork proving I deserve a refund. They had a highly qualified "Seminar Director" that lost paperwork? They are supposed to be professionals, is this how they do business?" 3) This is not risk-free - we played by all the rules, and now they are earning interest on somebody elses money. 4) When they said it was an honest mistake, I find that not good enough. They are a software company, in the business of "putting money to work". They are obviously putting owed refunds to work, earning God knows how much interest on our moneey. "Sorry" is just not good enough.
In summary, they spent top-dollar in sales efforts to make sure we show up to the seminar. They had highly paid motivational speakers.
I had the paperwork they wanted, but decided to open up a dispute with the credit card company anyway. The interest they earned on their "mistake" costs somebody something. And they owe that interest back too. We're not talking about a refund for a shirt, we're talking about 1000s in potential interest across the U.S. Due to a "mistake."
I faxed them my license instead - to let them verify that I wasn't born yesterday.
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