Innovative Wealth Builders, a company with a long record of leaving unhappy customers in its wake (here, here, and here) has just posted an article claiming they are “a watchdog for consumers.”
What strikes me is that along with the many complaints this company has received is also this comment posted by someone that identified themselves as a former employee.
I will shed some light on this subject. Im a past employee that has seen everything.First you have to start with square one. This company is a spawn of several different companies.
Back in 2003 a company named financial freedom by an owner named Thomas Graham. This man is the ring leader for all the other iso offices that followed.Here are there names Consumer financial advisory board, Financial Educational Services, Innovative Wealth Builders,and more iso companies.
Tammy and Cheryl the owners of I.W.B are still working with thomas graham. So now they can push the same product if you want to call it that from multiple places.
This product was started as debt relief program that promises to lower intrest rates.This is a flat out lie. Now its a cancle scam the fee originally started at 499.00 and is now up to the 3,000 range. The reason for this is when you enroll they tell you can cancel the service with a full refund. Thats another lie if you cancle they keep 20 to 50% of the original fee.There fore the company doesn’t care if you cancel cause they still got some of your money.
As far as there consultants none are have a license to work with you lenders. Any can do what they do call your bank and get a balance transfer they will work with you just like there so called consultants.
I truly think these companies are getting ready shutdown. Florida State Government is now starting to take action for all the people that got ripped off back in 2003 Thomas Grahm,Tammy and Cheryl have court dates coming up.These companies are also getting some attention from some banks that are going to discontinue prosessing charges for these companies. Hence the customer receives no help and there employee’s dont get paid.Something like this has never happened to these companys in over 7 years of doing this .They wont last much longer .
As of today, the State of Florida is reporting seven Attorney General complaints against the company.
The Better Business Bureau has 66 complaints, has given this company an F rating and says:
The BBB has received a pattern of complaints concerning misrepresentation in selling practices, failure to honor promised refunds in a timely manner and failure to issue refunds after being told that a refund would be issued.
When considering complaint information, please take into account the company’s size and volume of transactions, and understand that the nature of complaints and a firm’s responses to them are often more important than the number of complaints.
BBB processed a total of 66 complaints about Innovative Wealth Builders, Inc. in the last 36 months, our standard reporting period. Of the total of 66 complaints closed in 36 months, 56 were closed in the last year. – Source
So what’s all the fuss about? I’ll let you read their press release sent out on September 4, 2010 and you be the judge. Post your comment below.
Company Press Release
Innovative Wealth Builders Continues to Act as a Watchdog for Consumers
Innovative Wealth Builders has focused its energies as an advocate for consumers and their services have never been more valued.
(I-Newswire) September 4, 2010 – Clearwater FL – Innovative Wealth Builders has carefully watched as various bank reforms were put into place. As an advocate for consumers utilizing credit, Innovative Wealth Builders cautioned clients to closely read the notices being sent from credit-card lenders. As feared, many cardholders have been notified that interest rates will be dramatically raised by some of the nation’s largest credit issuers. Innovative Wealth Builders warns that even consumers who have consistently paid on time may be impacted if their credit score has fallen for reasons other than payment history. Innovative Wealth Builders has a simple message for credit card holders who find themselves in this position; don’t tolerate it.
Major banks such as Bank Of America and Chase have notified cardholders over the last year that interest rates will jump and in some instances these rates have risen as high as 28%. Most banks have provided no explanation. Innovative Wealth Builders has been told that even when consumers call the bank’s toll free numbers and ask for an explanation, none has be given. Widespread speculation is that cardholders who run higher balances may be targeted under the guise of a “periodic review”. In response to this development, Innovative Wealth Builders has spent much of 2010 assisting consumers that find themselves under attack by the large banks. Millions of credit card holders may be impacted and Innovative Wealth Builders reports that many are not even aware that a company such as Innovative Wealth Builders is available to provide assistance.
Innovative Wealth Builders offers an approach that allows consumers to methodically respond to these threats rather than simply reacting out of emotion. With veteran counselors and senior management, Innovative Wealth Builders has encountered similar situations before and states that there are absolute solutions. “Subtle intimidation and the use of arbitrary criteria are simply bank maneuvers to increase profits and engorge themselves,” recently stated Tammy Johnson, CEO of Innovative Wealth Builders.
Innovative Wealth Builders explains to clients the arbitrary nature of these approaches. While most credit card holders understand little about why this is happening, Innovative Wealth Builders offers a reason. Credit grantors utilize what they refer to as “risk-based pricing” where people are basically penalized due to a downward movement of their overall credit score, even if their payments are timely and current.
Innovative Wealth Builders believes that these increases are unjustified and in response they are arming their clients with proven approaches that can, in some cases, cut interest rates by as much as half. Just because a bank has mismanaged its assets and finds itself with losses instead of profits should not justify these attacks on hard working Americans. Indeed, Innovative Wealth Builders has seen more clients this year than any since its inception. The economy has hit working people hard and it seems to Innovative Wealth Builders that people are now being kicked while they are down.
While banks are making it easy to refuse these interest rate increases, it requires paying off the balances and no longer using the card. That is simply not the only option and Innovative Wealth Builders knows it. If these banks are on unstable ground then they should not expect working people to bail them out. Innovative Wealth Builders counsels clients to resist such bullying. Innovative Wealth Builders is a fee based solution provider that offers a suite of services for people that are working at finding a balance between fulfilling obligations, reducing the monthly stress of payments and planning for the future.
For more information, Innovative Wealth Builders can be reached at 888-748-5760.
About Innovative Wealth Builders:
Innovative Wealth Builders, Inc. offers a new approach to responsible financial management. By providing a suite of services that do not damage credit of their clients, Innovative Wealth Builders stands apart from many of its peers. Innovative Wealth Builders is not a consolidation or credit counseling company but rather a partner working with clients to navigate today’s challenging consumer credit markets.
By providing tools that allow clients to enhance their credit while at the same time prioritizing the reduction of interest costs, Innovative Wealth Builders empowers clients to accelerate the time required to retire debt.
Innovative Wealth Builders provides tools and coaching that allow clients to retire consumer debt safely while preparing for retirement as well. Innovative Wealth Builders recognizes the reality of a challenging economy coupled with higher unemployment, fewer benefits and unanswered questions looming regarding retirement. Because of these factors, consumers are more motivated then ever to turn to firms such as Innovative Wealth Builders.
Innovative Wealth Builders also provides additional services that can be customized for each client. These services further expand the ability of Innovative Wealth Builders to be a comprehensive resource for financial tools.
Innovative Wealth Builders also insures the safety of client credit. Innovative Wealth Builders makes no credit inquires and does not require any minimum credit score for client qualification. Innovative Wealth Builders focuses on client debt-to-income ratios that can actually improve client credit scores over time. This approach pro-actively meets many consumer hopes. While Innovative Wealth Builders takes calls from many individuals that need assistance, they also realize that many people have been hurt by circumstances beyond their control. Innovative Wealth Builders recognizes that most people want to fulfill their obligations and simply need the tools to do that. Innovative Wealth Builders is a consumer advocate for people trying to fairly manage their obligations while also preparing for their financial future.
Innovative Wealth Builders is not a debt consolidation service and is not focused on debt settlement services. Innovative Wealth Builders continues to use credit facilities such as credit cards and clients may actually experience lower interest rates. Innovative Wealth Builders clients maintain autonomy and continue to pay their own obligations.
Innovative Wealth Builders provides lifetime services and there are no hidden fees or charges. The seasoned professionals at Innovative Wealth Builders know that by clients understanding how to use their powerful tools, they can build a more secure financial future for themselves. Innovative Wealth Builders provides clients with a complete financial plan that facilitates debt reduction acceleration, increased savings and, many times, a higher credit score.
Innovative Wealth Builders services are provided on a confidential basis. No client information is sold, rented or provided to any third party. Innovative Wealth Builders client maintain their confidentiality, integrity and control. Innovative Wealth Builders is a company that understands the issues facing today’s consumers.
Company Contact Information
Innovative Wealth Builders
Innovative Wealth Builders
28059 US Highway 19 North Suite 300, Clearwater, Florida
33761
Phone : 727-608-2700 – Source
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