JW Financial Insights

We are just as frustrated as [redacted] with the dispute process and funds being held in reserve In speaking with a risk analyst at our merchant, it was confirmed that they are, as of today 8/31/15, still holding these funds in reserve and are reviewing on a monthly basis for releaseThe release of [redacted] ***'s funds is not in our hands but in the hands of the merchant account/credit card processor Our company has no ability to refund any funds to [redacted] unless and until they are released by the merchant

After reviewing this complaint it is very similar to the one filed with the customers credit card company almost one year ago, on 9/17/14. After several months of research and a thorough investigation, this case was ruled in our favor by the credit card issuer. I am not
sure what more our company can do in assist *** *** obtain the funds back on her credit card, as the funds have not been released back to us and are being held in a merchant reserve account, per the card issuers and processing center chargeback policies

Complaint: ***
I am rejecting this response because:
On Jan 21, 2015, at 9:AM, ** *** wrote:Good morning,We were told by the merchant that the funds would be released back to us the first of the year. As of today, January 21st 2015, the funds have still not been released back to our account. I called our merchant yesterday and spoke to ** *** who informed me that the next possible release date is March 3rd. Once we have received the funds back we will be able to issue the refund.*** *** On Feb 5, 2015, at 2:PM, ** *** wrote:Good Afternoon,I just spoke to our merchant in regards to this matter and they informed me that they review transactions every days for release and in some cases they may hold funds as long as they choose for loss prevention reasons, especially in a rare chargeback case like this (We had a perfect record with them prior to your chargeback). The money is currently being held in a 'merchant reserve account' awaiting release to our bank account. Once it is released back to our company, we can then issue a refund to you. Hopefully by *** contact them it will encourage them to release the funds back soonerI have gone back and forth with them on this issue for the last months now and they will not budge with releasing it to us. I am not sure what more can be done at this point except to wait until it is finally released. I am very sorry for the inconvenience that this caused you financially, but our company is not responsible for any of this and it is completely at the hands of your credit card issuer and merchant account providerWe will anxiously be awaiting these funds back so everyone can finally move on from this matter.*** ***On Mar 17, 2015, at 5:PM, ** *** wrote:***,We have not received any release from our merchant at allThat is why you haven't heard anything.*** may have released the funds to our merchant however they have not sent them back to us. In questioning them on it, they continue to say that their loss mitigation department can hold funds as long as they determine necessary. Every month they are reviewing our account to have the money released and as soon as it is completed we will be forwarding the funds to youI am not sure what more we can do at this point but since the money is still being held by the merchant we are at their mercy.*** ***
These are just of the e mails that *** *** sent me assuring me of my full refundSince Oct 15, they keep saying that "there company hasn't released the funds back to them" and therefore can't issue my refundI've spoken to *** multiple times on this situation and every representative that I spoke with all say the same thingNone of them have EVER heard of a charge company holding the funds for more than days, days at the most So I'm not sure that what they are saying is trueI believe that they received my $back to their account months ago and that they really just have no intentions of issuing the refund that they promisedIf their statement is true, then that's between them and their company to sort out as I'm paying interest on the $2,since Oct I will be taking my complaint to the next level if this is not settled the way they have promised in multiple e mails within days.Sincerely,
*** ***

Complaint: [redacted]
I am rejecting this response because:
This is the same story that they have been giving me for almost a year and NO, I do not except it or agree with it. According to [redacted] Card Services, this is unheard of. Companies normally hold the funds for 30 days, sometimes 60-90, but that's it. As [redacted] stated, they were awarded the money back to them Oct 15, 2015 because [redacted] didn't feel that they could fight the contract without a lengthy process. [redacted] recommended that I stay on top of [redacted] about the refund since I had so many e mails promising that they would stick to it and hope that it was true. There is NO reason for [redacted]s company to continue "holding the funds for review" as there is nothing to "review". [redacted] has been mailing their company letters since the decision with no response. If [redacted] is actually truthful and they haven't received their money, then THEY should be on top of it or just tell the company to credit me back, but they haven't. There is no possible way for me to get that money back either way if it's true, [redacted] will eventually receive the money from their company. As a respectable company and as a show of good faith, I would expect JF Financial to send me a check for the $2,000.00 or credit my card. Then they would have proof that they refunded it and I would have no further action or claim on the** Then they could deal with THEIR company as they see fit to get their money released to the** Again, if they are even being truthful. I honestly believe that they received the $2,000.00 months ago and are just hoping that I will go away. I won't! At this point, I'm highly doubtful that they are going to keep their word and I won't get my refund like they promised. So now I feel obligated to make sure that no one else gets taken advantage of as I have. This is a big scam and they just continue dragging it out instead of doing what they promised and what is right. 
Sincerely,
[redacted]

We are just as frustrated as [redacted] with the dispute process and funds being held in reserve.  In speaking with a risk analyst at our merchant, it was confirmed that they are, as of today 8/31/15, still holding these funds in reserve and are reviewing on a monthly basis for release. The release of [redacted]'s funds is not in our hands but in the hands of the merchant account/credit card processor.  Our company has no ability to refund any funds to [redacted] unless and until they are released by the merchant.

Review: To Whom It May Concern,

I contacted [redacted] Insights LLC early last spring, 2014 regarding debt resolution services. I was apprehensive at first and they contacted me relentlessly via E Mail, phone and also postal mail. I finally spoke with [redacted] in mid June. He assured me he could help me get out of debt but I had to sign on ASAP as they only accept a few clients at a time. It was the perfect "American Hustle" situation. I was hounded and rushed before my "Opportunity was lost". When I asked [redacted] how much this service would cost me, he never answered the question. I finally had to reach out to [redacted] who eventually gave me the cost of $5,000.00. (And that was a deal so he said) it was $2,000.00 down on my credit card and then monthly payments to them at 14% interest until paid. I repeatedly asked if the $5,000.00 was the total and both [redacted] and [redacted] both said yes. Then I asked about how my creditors get paid because I didn't want anyone in my accounts. [redacted] assured me that I was "in full control" and paid my own creditors as I always have. Their company just ran a program that would tell me how much to pay and when to get out of debt the fastest. As long as I stuck to their plan, it was guaranteed 100%. Sounded great! [redacted] called me to go over the contract on what was to be a 10 min phone call. (They wouldn't send the contract before the phone call). The call actually took over 45 min, I was late for work and rushed. [redacted] said to let's just get through the contract and sign electronically and when I received it in the mail, I could call with any questions. It took 5 days to receive it via [redacted] and had a 3 day cancellation policy on it. (So I clearly missed that but [redacted] never said anything about a deadline). [redacted] said it would take a couple of weeks to set it up and they would be in full contact. Several days later I received a call from another lady looking to set up payments. Through that conversation, I learned that she was actually the one going into my bank accounts, withdrawing money and sending checks to my creditors. When I then called [redacted] on this, (as I clearly stated I DID NOT want anyone in my bank accounts to [redacted]) he said that it was "a new process" and that [redacted] may not have known that when he told me that I was the one sending electronic payments to creditors. ([redacted] is the president and yet he didn't know that?). So then I became uneasy and suspicious of this progra** I carefully read the contract to realize that yes, a 3rd party was going to be making my payments AND this program was going to cost me OVER $16,000.00 in the end. $5,000.00 that they said and then a monthly fee to them and a monthly fee to the company writing the checks. I immediately called and E Mailed [redacted] and [redacted]. They did not answer me for almost a week! Then they told me that they were sorry I was unhappy, they want all of their clients to be satisfied and that they would refund me my $2,000.00. About 1 month later I received a letter from their company denying my refund because it was over the "3 day cancellation policy". I then contacted them again and they assured me I would be refunded. After another month, I called my [redacted] Credit card to inform them of the situation. They applied a "Charge Back" to the account. After several months of [redacted] assuring me of a refund but [redacted] disputing the charge back, [redacted] awarded them the settlement and sent back the $2,000.00 on Oct 15, 2015. Since then, I have been waiting for [redacted] to refund my 2,000.00. I have MULTIPLE E mails with [redacted] assuring me that once they received the money back in their account, they would process the refund. I've waited months patiently and now they do not respond to my E Mails. They have my $2,000.00 and as I suspected, they have no intentions of refunding it. In my opinion, this company is guilty of "Theft By Deception".

1. Lied about how much their services were going to cost. $5,000.00 Vs $16,000.00

2. Lied about me paying my own creditors and no one else accessing my bank accounts

3. Lied about promising me a refund of $2,000.00 once the money was back in their account.

All I want is my $2,000.00 refunded to my credit card as promised.

Here's a company promising to "Help" you get out of debt yet putting you into more debt. Just another scam....

Sincerely,

[redacted]Desired Settlement: Refund of my $2,000.00 to my [redacted] Credit Card

Business

Response:

After reviewing this complaint it is very similar to the one filed with the customers credit card company almost one year ago, on 9/17/14. After several months of research and a thorough investigation, this case was ruled in our favor by the credit card issuer. I am not sure what more our company can do in assist [redacted] obtain the funds back on her credit card, as the funds have not been released back to us and are being held in a merchant reserve account, per the card issuers and processing center chargeback policies.

Consumer

Response:

Review: [redacted]

I am rejecting this response because:

On Jan 21, 2015, at 9:52 AM, [redacted] <[redacted]> wrote: