I read other reports, and then read the "Screening Application Membership Information" form.
The last page of the application form uses words that many English speaking North Americans would not understand, however they seem to target Latinos who speak little or no English, since part of the forms are in Spanish.
I've read many legal forms and heard of companies which take out life insurance on employees and the named benificary is THE COMPANY, not the insured's next of kin.
La Promesa's form says that there is a DEATH BENEFIT attached to each membership and apparently the death benefit is governed by the by laws of La Promesa Corporation. I'm guessing that those by by laws will say that the death benefit is payable to La Promesa Corporation, since they are paying the premiums from a portion of the member's dues. If the person dies, then the company profits BIG TIME, since the agreement seems to give them an insurable interest in that person IMHO.
These forms gives them the right to Bankdraft a $50 deposit, plus a monthly subscription fee in advance of equipment being shipped to you. Then to get back the deposit, you have to return it undamaged. Once you start a bank draft, it's hard to get it stopped with some companies.
They are reportedly using church meetings and religion as a way to sell the idea. The application seems to support others rip off reports of this company that seems to change the names that it goes by when reports start showing up that they are a rip off. They don't have the officers, or have a number to call the corporation. It sounds like they are using the same techniques that those who run "gifting schemes" use.
These forms that you are supposed to sign give them access to your bank accounts, and in the "screening application to become a member or employee, they ask financial questions that do NOT go on any "job application" such do you have a mortgage, insurance, real estate, etc. The application is in broken English with misspelled words and bad grammar, so it's hard to understand the full meaning.
It seems that they are concentrating their ads and recruiting in Florida and in Spanish, but some are contacting others in other states by E-mail, even if they are Anglos.
Other reports indicate that they are targeting low-income Latino families who may speak little or no English. They may be afraid to report the rip off to government officials, if they are immigrants without proper paper work or green cards. IMHO.
The Screening application and enrollment forms are written in legalese so that most people who are NOT lawyers, paralegals, or familiar with the vague legal terms they use would not now what they appear to me to be giving up. I'm not a lawyer, but what i read concerns me greatly in this initial set of 4 pages.
I had a business associate in FLORIDA who is trying to get me to join and send in my 5 references. I think this is so they can try to get them signed up if you don't do it for them.
I think many are fooled by the promise of a large annual salary, car bonue, 42 inch plasma screen tv's, and many bonuses for each thousand members signed up. This is subject to change and must be approved in writing by an "officer" of the Corporation. I'd like to read their by laws, but I'll bet they don't want others to read them.
Anyone should be VERY CAREFUL when they give out private FINANCIAL information and sign forms which they don't understand with words that are confusing and may have legal meanings hidden from a lay person.
I might have signed forms like this, before I saw others hurt by signiong similar forms by companies designed to rip them off "legally" by the powers granted to them by legal forms which they signed without knowing the meaning that was hidden from them by words they did NOT understand. The forms appear to do one thing, but really give up legal and financial control. IMHO.
These are my opinions. If I filled out the forms and opened myself or others to financial abuse, then I might know more, but I won't take that risk. Many have taken that risk, without understanding that risk.
This is NOT to be considered legal or financial advice, since I'm NOT a lawyer, or financial advisor. You will need to consult lawyers and financial advisors who are licensed to practice in the necessary states and have a speciality in the type of law you need. A lawyer giving advice OUTSIDE of his specialty can be very dangerous to his client, ands he owes NO DUTY to insure if it is correct if the advise is at no charge, or "free".
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