I was pressured into signing a Franchise agreement with PAX inc. I was never given the UFOC, a financial disclosure document for PAX, showing the financial stability or lack there of. I was unaware that it is required by PAX, under CA and Federal law, to supply this document to me, prior to signing the franchise agreement.
PAX reps made promises of daily support, more business than I could ever dream of, and a huge benefit and growth for my existing mortgage company. Shortly after signing the agreement, the reps that signed me up and promised this extraordinary level of support, left the company and the daily support that was promised to me, was NEVER there.
I feel this franchise takes money from unsuspecting individuals, like a PONZI scheme. The management was always out seeking new franchises and support of current franchises was SECONDARY. Management rarely had the time to return my calls for support.
PAX finally agreed that they had not supplied me the UFOC and agreed to refund my money, $21,000, in monthly installments of $3000 until paid in full.
When I insisted only on refund in full, because I needed spinal surgery due to an unrelated accident, they pulled the agreement.
I have a signed offer to refund in installments and NO refund money.
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