Date This Problem Happened: December 9, 2011
State You Live in: California
Age Range: 51-65
Total Amount of Fee Paid: $998
Company Name: Purchase Power Solutions
3116 South Mill Ave.,
Tempe, AZ 85282
Company Telephone Number: 888-512-8881
Website of Company: purchasepowersolutionsinc.com
In December last year, I got a cold call from a company, the name of which I have forgotten but one of the ladies that I spoke with showed me their website and claimed that they have been in business for 15 years. The company name later on were changed to Purchase Power Solutions(PPS).
They told me that I am qualified for a new credit card that will allow a 0%-18 months interest rate balance transfer of my current credit card which has a balance of $26,000 with the interest rate at 12.49%. I noticed that they knew what kind of credit cards that I have and even knew how much I owed on each card. At first, I rejected the offer and hung up the phone. Several different people aggressively followed up and called me again and again throwing to me their guarantees. “You are definitely qualified for this program.” “We guarantee you will have the 0% interest for 18 months” “if you don’t get it, we will refund you the money and you will still get to keep the 0%-18 months terms” For this too-good-to-be-true deal, there is no out-of-pocket fee. They only charge $998, on my existing credit card, which I can quickly regain from the money I saved from this deal. I still did not believe what they were offering. Then a guy, named Michael Antonetty called me and asserted that he is the financial consultant for PPS. He confirmed the 0%-18 months balance transfer terms and gave me his license number. – He caught me when I was working in the field and did not have a pen to write the number down. They seemed to be providing me a huge relief, which I needed badly, to my financial burden. So, I gave them my credit card number and had them send me the contract to sign.
A few days later, I received the contract from PPS – not the company whose website I was led to see at the begining. But the contract does not say anthing regarding the 0%-18 months at all. It only says that I am buying some software and services from PPS. The service includes a custom debt analysis which will guarantee a minimum saving of $2,500. They misled me to believe that this is just a part of the deal. What really can save me money is the 0%-18 month balance transfer.
I signed the contract and sent it back to them. A week or so later, Discover Card called me, went over my credit profile with me and offered me a credit card for a credit line of $1,000 with interest rate at 12.99%. My original credit card balance is $26,000 with a interest rate of %12.49. So, I rejected the card. I called PPS, inform them about the offer from Discover Card and requested that they send me another card company that will do what they guaranteed me.
I was told that they needed to schedule an appointment for me with thier Financial Consultant, Andrew Antonetty which will be a week from that day. I waited a week and Andrew denied me another credit card company but offered to help me settle with my current credit company, instead. I said, no, I want the 0%-18 months program that you sold me. He said, “Well, I will send you the financial data analysis according to our contract. I told him not to send it because I knew it was not going to be any useful .
He insisted that that was the only thing he could do. I asked him about the Financial Advisor License number that he gave me at the begining. He told me to talk to Customer Service and hung up the phone on me.
I called Customer Service and asked for Andrew’s License Number and was told that Andrew does not have a license and they do not need a license to do their business. I asked to speak to the manager there and was told that Amy Verhoess is the manager and she would call me back within 48 hours.
A few days later, I received my data analysis from PPS. This data analysis is full of errors. For 2 out of the 3 cards that I have, PPS ask me to pay below the required minimum payments which, according to the issuing bank, will result in 4 consequences:
1. a block on the card account.
2. late charges.
3. possible higher interest rate.
4. negative influence on my credit rating.
How could I save money by following their Financial Data Analysis? So, this means that it costed me $998 only to get myself in deeper more troubles?
I waited 2 whole days b4 I could talk to the manager, Amy Verhoes. She said I am not eligible for a refund. They only go by what the contract says. Regarding Andrew’s License, she said Andrew probably went to a class and passed the test. They do not need a license to run their business. She even denied that they have a different company name.
I asked what is the government authority over their business. Amy said there is probably none.
I disputed this transaction to my bank. PPS rebutted. It was escalated to a Visa arbitration and I lost the case. Can you believe it? I was told the verbal promises and guarantees do not count in the arbitration. They follow only by the written contract. If it is not a scam, why didn’t they just sell me the contract to begin with? Why did they have to use the 0%-18 months terms and all the guarantees as the baits. I feel this is a well designed sophisticated trap for people in need of financial help to fall in.
I really feel helpless.
— Narrative —
At the beginning of December or the end of November 2011, on a day which I believe was a Thursday, Purchase Power Solutions(PPS) called me on the fly and said that they looked at my credit report and sees that I am qualified for a balance transfer for my BOA credit card account ending with 9136 and with a balance of $26,000. The new card will have a 0% interest rate for 18 months. They offered this program to me for a fee of $998. They wouldn’t go into the details but guaranteed that I would save at least $2,500 in the first 3 months. The $998 fee they charged me will be easily covered. If I don’t get the program, they will refund my money and I still can keep the 0% interest rate. At first, I rejected their offer, but Andrew called me and gave me his Financial Consultant License number. At the time, I was in the field and did not have a pen to write it down. So, I believed him and asked them to send me the paper.
I received the contract and signed it. They also recorded my commitment to the charge of $998 for their service. However, most of the important information that they provided and promised is not included in either the contract or the recording.
$998 was charged on my BOA credit account.
A few days later, Discover Card called me and reviewed my credit on the phone and offered me a card with a line of credit of $1,000 with the interest rate at 12.99 %. I rejected the offer.
— Phone Conversation Log/Journal —
Called PPS Customer Service
Bob: Hello, I got a call from Discover Card and they offered me a line of credit of $1,000 with the interest rate at %12.99. I rejected it because it is not what you offered me. Please get me another credit card company/lender which can do what you promised or just give me my money back.
CS: I will have to make an appointment for you with our Financial Adviser, Andrew. I can schedule you for next week.
Bob: I am going out of town on 1-7 and coming back on 1-23.
CS: OK, let me schedule you with Andrew on 1-24 then.
01-24-2012 11:40 AM
Andrew Called me
Andrew: Hi! I am Andrew. I am the financial adviser for Purchase Power Solutions. Discover Card offered you a credit card and you rejected it.
Bob: Yes, indeed. But they offered me a card with $1,000 credit line and interest rate of 12.99% which is absolutely not useful to me at all. Of course, I rejected it. You told me I am qualified for a 0% interest rate for 18 months. Do you have another company who can offer the same?
Andrew: Well! Looks like we can go for a settlement with your creditors.
Bob: I don’t want to go that route. If you can get me a card with the 0% interest rate that you promised, I will be fine. Otherwise, please refund me the money.
Andrew: I will send you a Financial Analysis.
Bob: Please do not send me the Financial Analysis. I do not need it. Just refund me the money.
Andrew: You need to talk to the Customer Service.
Bob: Why do you want to send me my Financial Analysis? I told you at the very beginning that I will pay my monthly payment in the amount that my income status is comfortable with. You can’t make me to do things that I am not able to do.
Andrew: You need to talk to Customer Service.
Bob: When? Please do not send the Financial Analysis.
Andrew: — Hung Up! —
01-25-2012 03:51 PM
Called Customer Service
Christopher: Hi, my name is Christopher Frady. How may I help you?
Bob: I spoke to Andrew yesterday and I told him that I want my money back and not to send me the Financial Analysis.
Christopher: The Financial Analysis is already sent. You should receive it in a couple of days.
Received the Financial Analysis from Purchase Power Solutions
Called Customer Service
Amy: Hi! Purchase Power Solutions! How may I help you?
Bob: My phone number is [ ]. I received the Financial Analysis that you sent. I told Andrew not to send it but he still did. I know this won’t be useful to me at all. Do not understand why he insisted to send me this.
Amy: You will have to talk to Andrew.
Bob: OK, please let me speak to him.
Amy: I will make appointment with him for you, Let’s see …, He will be available to call you on Monday, 2-6-2012.
02-06-2012 09:13 AM
Called Customer Service
Was told that Andrew Antonetty will call me in 16 minutes
2-06-2012 09:55 AM
Andrew: I am Andrew. I am the financial adviser for Purchase Power Solutions. You will save money by following the Financial Analysis that I sent you.
Bob: I told you on 1-24-12 not to send it. I do not need your Financial Analysis. I just want the 0% interest for 18 months program that you said I am qualified for. Your Financial Analysis is not useful and appropriate for me. Why do I have to follow your payment schedule. I told you, at the beginning, that each month I will pay more if I have more money and pay the minimum payment if I am short. Everyone knows that the more monthly payment I make, the more money I can save at the end. I don’t need your advice on that.
Andrew: According to our contract, I have to send you the Financial Analysis.
Bob: Your Financial Analysis is not even correct. It’s bogus.
Andrew: What’s wrong?
Bob: #1, you ask me to pay my citi card account $670 per month. I am already on the hardship program with citi that allows me to pay $220 per month with no interest. #2, my HomeDepot card has a minimum monthly payment of $25 while you ask me to pay $10. #3, my Bank of America card’s minimum monthly payment is $555 and you ask me to pay $534. Do you have a License?
Bob: Were you the person who gave me your Financial Consultant License at the very beginning? I didn’t have a pen to write it down at the time when you caught me in the field. Please give it to me again.
Andrew: You need to talk to Customer Service.
Bob: I am just asking for your license # that you are supposed to release when you are conducting your professional work. Why do I have to talk to Customer Service? It’s your own professional ID.
Andrew: You have to speak to Customer Service.
Bob: The last time I spoke with you, I ask you not to send me the Financial Analysis and you wanted me to speak to Customer Service. But they wouldn’t help me at all. You guys are just kicking the ball.
Andrew: You need to talk to Customer Service.
Bob: When will they call me?
Andrew: — Hung Up the phone —
2-06-2012 10:32 AM
Bob Called Customer Service:
Bob: Hi! What is your name?
Gina: Gina Thompson.
Bob: I just spoke with Andrew and he said I need to speak to you. I want my money back since you can’t deliver what you sold me which is the 0% interest rate for 18 months program.
Gina: you are not eligible for the refund because we provided you with the Financial Analysis.
Bob: I didn’t want the Financial Analysis. I told Andrew on 1-24-2012 not to send it to me. I want the 0% interest program that you promised. You said I am qualified for this program. Guaranteed! And you said if I don’t get this program, I will get my money back and still keep the 0% interest rate. I don’t know how this is going to work now.
Gina: You are not eligible for a refund.
Bob: You are saying that I paid $998 for this bogus Financial Analysis? Give me Andrew’s Financial Adviser License #.
Gina: He does not have a License. We do not need to have a license to do our business.
Bob: Are you serious? I was given his License # at the beginning. And that’s what made me believe in you. I just couldn’t write it down because I didn’t have a pen handy when he called.
Gina: No, we do not need a license to do our business.
Bob: What is the government agency that regulates this business? Please tell me the name of it.
Gina: Amy Verhoess.
Bob: I want the name of the government agency that has the authority of your business.
Gina: You need to speak to Amy Verhoess.
Bob: Is she the boss? Does she make the final decision?
Gina: Yes, she is available right now. Let me transfer you to her.
— wait —
Gina: She can’t talk to you right now. But she will call you soon. Latest, by the end of tomorrow.
Bob: OK, I will wait for her call then.
Amy Called – Bob missed
Bob Called Customer Service for Amy
Amy: Andrew wanted me to give you a call to follow up on our procedures. You have received our data analysis. If you just follow up the methods, you will be able to save money.
Bob: I don’t need your data analysis to know that if I pay a big amount of money monthly, I will be able to save money on the interests. Everyone knows about this. You sold me the program of 0% interests for 18 months for a fee of $998. Now if you can’t deliver it, you should give me my money back.
Amy: That’s not what our contract says.
Bob: A lot more information you provided me and you promised is not included in the contract. This is a fraud. If you dispute this, I will report it to FBI.
Amy: Go ahead. — Hung up —
Called Bank of America and dispute the transaction. BOA told me to wait and they will send me forms to fill out and sign.
Received a letter stating that BOA considers the dispute is resolved unless Purchase Power Solution fights back.
3-20-12 Received a package from Bank of America. The package was sent on 3-9-12. The letter says I have until March 22 to respond.
3-20-12 2:10PM Called BOA informing receipt of the package today. My response day is extended to 3-23-12.
3-20-12 5:00PM called PPS Customer Service (888) 512-8881 and asked for Amy. The receptionist looked for her and came back and said she had left for the day. I left message for her to call me back. She said it could take up to 48 hours before Amy will call me back.
3-20-12 sent back the package/DVD to PPS via FedEx.
3-21-12 Waited the whole day, no call from Amy – PPS.
3-22-12 I wanted to talk to Amy Verhoes, manager of PPS and ask the following questions:
1. Who is the government authority that regulates your business?
2. Does your financial adviser, Andrew Antonetty, have a professional license?
3. How did you get my credit information at the beginning without my authorization?
4. Amy, are you the manager or supervisor at PPS?
5. What was the company name you used when you first called me. I know it is not PPS. And you have a website for that company that you led me to see.
6. How did you get Discovercard to call me? How does it work? Is PPS coordinated with DiscoverCard in practicing business?
3-22-12 12:00 PM To avoid missing the deadline for responding to BOA, I am rapping up this Phone Conversation Log/Journal right here. If Amy Verhoes of PPS does call me back, I will update this log accordingly.
3-23-12 9:00PM I waited the whole day but Amy Verhoes of PPS did not call me yesterday. This is past 48 hours that they told me.
3-29-12 11:00 AM Called Purchase Power Solution.
Bob: Hello, may I speak to Amy Verhoes. May I have your name, please?
Chris: My name is Chris Verbrady. You have called the wrong number. What company are you calling?
Bob: I am calling Purchase Power Solutions. Is there an Amy there?
Chris: What is this regarding? What is your phone number?
Bob: [ ]
Chris: Hold on! … Your case is under review.
Bob: May I speak to Amy?
Chris: I am not sure if she is here?
Bob: Who is Amy? Is she the manager here?
Chris: Hold on tight there ……
I am going to transfer you. Hold on …
Amy: This is Amy. How may I help you?
Bob: I called you last week and left message and I was told that you were going to call me within 48 hours and I have been waiting?
Amy: Your case is under review. You reported the case to the Attorney General. There is no need to call you.
Bob: I still need to get my questions answered and report them to the Attorney General.
Amy: What kind of questions do you have?
Bob: Your Financial Consultant Andrew. Does he have a license?
Amy: No, he doesn’t.
Bob: He doesn’t? But he gave me his Financial Consultant License number.
Amy: Well, he passed the test. He could have some kind of license.
Bob: Do you/ Dose he need a license to run your business?
Amy: No, we don’t need a license to run our business.
Bob: What is the government agency that has authority over your business?
Amy: what do you mean?
Bob: Like an insurance company is governed by the department of insurance of Arizona.
Amy: I don’t know. There is probably none.
Bob: Are you the manger here?
Amy: Yes, I am.
Bob: When you first called me on the phone, you introduced yourself as different company. What was the company name ?
Amy: There is no other company name. We are always Purchase Power Solutions.
Bob: That is another lie. One of your guys told me the website address and guided me to look at it.
Bob: I got a call from Dicover card for a new credit card application. Did you apply the card for me?
Amy: Yes, but you reject it.
Bob: Who authorized you to do that? Are you coordinated with Discover Card in doing business?
Amy: You authorized me to apply for the card. You gave us your social security card number and credit card number to get started.
Bob: I was told that I am quailed for the 0%-18 months program. And when you guys first called me on the phone on the fly, you already had my credit info. You already know how much I owe on my BOA card. And you offered me a 0% balance transfer. How did you do that? How did you do it without authorization? Or a license number? You mentioned about on your first call to me and on the Data Analysis that you sent to me, you listed my citicard and HomeDepot card. How did you know that I have these two cards? I didn’t give them to you, did I? Who is your boss or supervisor?
Amy: I am the boss here. You reported it to the Attorney General and your case is under review. ——– Hung Up ————-
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