SUBJECT: The College Funding Group, Contract signed 5/2 in Waterbury, CT
On May 2, I attended a college planning seminar at the Courtyard by Marriott, 63 Grand Street, Waterbury, CT 06702 (phone 203-596-1000) presented by The College Funding Group (parent company The College Advantage, Inc.) located at 2828 W. Parker Road, P.O. Box 260080, Plano, TX 75026-0080. College Funding Center's phone number is 800-299-9856.
I was solicited by the College Funding Group via USPS mail, responded by calling the 800 number and setting up the interview to go to the Marriott in Waterbury, CT. After a nice presentation, each of the parents (with their children i.E. Prospective college students) each met with a representative. My son and I met with Joe Mulcahy (his pager number is 617-802-5554) from the College Funding Group, 567 Main Street, Berlin, NH 03570, phone 603-752-1122 (phone now out of service). Note, these meeting took place with my son, so he saw the testimonials about how other students got funding for college. I signed the contract on 5/2/03 and on 5/22/03 my credit card was charged $995 by the College Funding Group (719-395-3626). Of note, service was not to begin until the year 2007 because my son is 14 year's old and currently in 9th Grade at High School (note, he was in 8th grade at the time the contract was signed and I informed the College Funding Center of his age and they said that that was okay). I signed the contract for two reasons: 1) I was told it would be cheaper to purchase the service in 2003 as opposed to the year 2007 (due to inflation); 2) I truly will need help to fund my son's college education because I am a single mother. On 12/27/03, I received a post card in the mail (dated 12/19/03) that College Funding Center (and its parent company, The College Advantage, Inc.) has been forced out of business after nineteen years and that they could not service my account further. Of note, they have not done anything for me yet (except send me two newsletters about information that does not apply to my son yet because he is 14) because my service was not supposed to begin until the year 2007.in October, a person by the name of Domingo called to get my son's social security number and a current photograph of my son - this is the only contact I have had with the company since May. I called the College Funding Center in Texas and a recording came on that stated the same information that was on the postcard dated 12/19/03, I tried to talk to a customer service person, but only got a recording which said to leave a message which I did (approximately 2:15 P.M. EST on 12/27/03). I tried to call Joe J. Mulcahy in New Hampshire at 603-752-1122 to find that the phone number is not in service. On 12/29/03, I again called the College Funding Center to find the same recording and no person to help me, so again, I left another message with my name, number, and request for a refund.
On 12/27/03, I paged Joe Mulcahy at 617-802-5554, and he did call me back. He stated that he was unaware of the situation with the College Funding Group because he recently had a heart attack and was at an anniversary service for his deceased son. He stated he would call me on 12/29/03. I waited until noon time to beep Joe Mulcahy, he again called me back and stated that he was going to call me later after calling Texas. After an extensive conversation (around 15 minutes), Joe Mulcahy did not assure me of anything and became irate when I stated this whole situation now appears to be a scam. He said that I was being rude, although I was only being firm (I did not use profanity or raise my voice of which I made Mr. Mulcahy aware). (Of note, Mr. Mulcahy hung up on me). Mr. Joe Mulcahy also stated that "a jerk in Washington" was trying to make a name for himself by investigate the College Funding Center and has "tied up" all of their money. Before he hung up, he gave me a number to call Mr. Al Baron, at 214-893-9194 (which I called at about 12:20 P.M. EST on 12/29/03). Mr. Baron was polite and said that since I signed my contract in early May, that was before the lawsuit began and that he would email me the pertinent information (which I have not received yet, it is now 1/2/04). Also, Mr. Al Baron told me to work with Joe Mulcahy (which I find to be interesting because Mr. Joe Mulcahy kept claiming he did not know anything because of his health problems and now that he has hung up on me, I doubt he will work with me anyway).
Unfortunately, I am desperate to get the $995 back and I will put that money toward my son's college education. It was a hardship for me to make this payment in the first place because I had lost my job and am a single mother and have just recently been employed.
I would also like to state that this appeared to be a valid and legitimate company because they solicited me through the USPS and had a return address, they had several phone numbers which worked and continue to work (1-800-299-9856, fax: 972-612-5898), I checked their website at "http://www.cfcservice.com", and found information on Al and Donna Baron on the internet. I am aware that the charge was made on 5/22/03 and that the College Funding Center notified its clients on 12/19/03 of their being forced out of business. I feel that this is fraudulent activity because they did not service my contract and they must be investigated. I ask that you please investigate this case.
Please help me recover the $995 and to stop this type of fraudulent activity. Not only am I out $995, but I desperately needed the service, so I am out the money and the service. I also find it very upsetting that my son had to be subjected to this fraud as well - he sat through the presentation and sat with Mr. Joe Mulcahy as we signed and talked about the contract and service. How awful to put a 14 year old through that.
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