COMPANIES INC sold me a company with a guaranteed real estate line of credit which does not work. It cost $19,604.00.
I purchased this company with a guaranteed line of credit of up to one million dollars for buying real estate.
The line of credit is supposed to be available regardless of credit score, and without collateral, other than the subject property and without any personal guarantees, as long as the purchase price is 65% of after repair value (ARV).
My business partner and I had a house appraised at $850,000 (it was appraised 3 times over a period of 9 months, with an ARV of $950,000-$975,000 and we requested loans several different times for three different amounts over the course of 10 months.
The first loan was for $600,000, 71% of LTV and 63% of ARV;
Second loan request for $550,000, 65% of LTV and 58% of ARV, and
Third loan request for $450,000, 53% of LTV and 47% of ARV.
They were unable to perform and finance the deal as guaranteed. So
For the $600,000 amount Kevin Wessell, owner of Companies Incorporated, asked me to use my house as collateral. SPECIFICALLY what I did not want to do, and what he told me I would never have to do, and why I bought this program.
Second Kevin requested I set up a trust to allow him to share 20% of the profits. Again the deal fell apart.
Third Kevin wanted someone with a good FICO score to be added to my company and to sign for the loan. Again, SPECIFICALLY what I did not want to do; and what he told me I would never have to do, and why I bought this program.
Kevin finally found a person (name omitted) who was added to my LLC to do the guarantee and still Kevin was unable to perform as promised.
The company I bought was for a specific purpose and they knew that purpose. After they were unable to perform they told us, Well not every deal goes through. Their website boasted a 100% performance so long as parameters are met. We went beyond meeting their parameters. They even gave us a letter of pre-approval for $1,000,000.
My partner and I waited and worked with them for the past year to allow them a chance to perform. I really wanted this to work. I stood to make $200,000 - $400,000 from this one deal. However, since they could not perform I requested a refund of my money. They refused. Their response is, Go out and find other properties.
In October of 2007 the credit card company granted a temporary refund of our money until Companies Inc responded. Companies Inc responded with libelous and slanderous remarks to the credit card company. It appears that Visa rules do not aid us due to time and we must seek other remedy avenues.
I printed out Companies Incs website from August of 2006, when we bought their scam - now they have changed their website as of January 2008. Their response to the credit card is that we altered Companies Incs website and printed it out to show their guarantees. We did not and do not have access to their back office to make such changes. Pretty bold lie.
Here are the immortal words of Matt, an employee of Companies Inc. when I informed him that I will request a charge back from the credit card company. He said, We are a huge company who makes a lot of money for these credit card companies because their clients use their cards for our services, you really think they are going to listen to a little nobody like you. Get real and move on with your life.
Companies Inc charges that we purchased four products from them and our dispute is over one of those products. Let me set the record straight. I informed Matt and Kevin that we are not interested in the LLC, the credit builder program or the real estate course, only the line of credit. They informed me that the credit line for real estate purchases only comes with the LLC, or company, the credit program is part of that already, and the real estate course is to learn how to structure the deal.
1. The LLC was delivered, but then a few months later they brought in a third person to be the president in order to attempt to secure the financing. Now it is no longer my LLC.
NOTE: I have been in the incorporating business for 11 years and do not need anyone to incorporate me. I bought the LLC for the credit alone. Matt and Kevin were advised of that fact on several occasions and about 20 times before and during the purchase.
2. The credit program. I talked to a guy, from Business Credit Services, a couple of times who collected my information and sent me a regurgitation of that information along with information on other companies having similar names and how I should protect my company name. I set up the company I told him about, it was not the LLC purchased from Companies Inc., and he sent me a100 page report on information I told him or am already aware of and they call this a credit building service? I do not need secretarial services.
3. The two day training course on how to structure a real estate offer. Again I informed them I have been involved with real estate for many years, but they insisted as this will show me how to do the proposal structure. Kevin and Rusty, the owner of Endeavor, the company which puts on the 2 day course, both assured me it was good as done. We can close this within 7-10 days assured me Kevin. The Real estate course was nothing more than a glorified sales pitch for Endeavors other courses which cost $2,000 plus.
4. The up to $1,000,000 line of credit for real estate purchases so long
as certain parameters are met. The parameters are:
a. Pictures and purchase contract
b. Appraisal
c. Comps, preferably a CMA from a Real Estate Agent
d. Plot map
e. Map of how to get to property
f. Letter requesting loan and stating that it is for business purposes
thus allowing them to charge higher interest rates than would be
allowed if the loan was for personal use.
g. List of repairs
h. Plan of action how do you plan on recovering the money.
We complied several times to try to help them finance us as guaranteed..
Mr. Wessell chose to concentrate on the first three services to claim that services were rendered. Conveniently forgetting to deal with the only reason we bought this LLC from Companies Inc. - the line of credit.
His response to the inability to deliver on the money is amazing. He lies about their guarantees on their site and charges us with fraud that we altered their website. Since he, along with his employees, view their clients as NOBODIES they figure they can continue the scam attack and feast on these NOBODIES. By the way they do not offer these programs anymore and have changed their website to attempt to refute all of our claims. They dont seem to realize that all past websites are secured and on record.
He also lies and claims that they do not loan based off of the ARV. At the 2 day course, Slide 106, entitled Getting Cash Back Rusty and Kevin demonstrate this scenario:
Property is worth $100,000;
you negotiate to purchase it for $80,000;
and the Seller carries $30,000,
then you only need to pay the seller $50,000
However, by using the structure they are teaching
you will borrow 70% of the $100,000
thus acquiring a loan for $70,000
you will pay seller $50,000
thus pocketing $20,000.
Mr. Wessell made an outright lie to the credit card company telling them that such deals do not take place; that loans are only based off of the purchase price. Yet Mr. Wessell is willing to refuse to perform and yet claim, Our goal is 100% customer satisfaction. on his website.
Another lie Mr. Wessell was quick to conjure was that I only submitted one deal to him. First of all their site, the 2 day course, and Companies Inc. do not condition financing on submitting multiple deals. This deal had a $200,000 - $400,000 profit spread.
I asked Kevin about 30 acres I wanted to purchase and develop at Canyon Lake, near a property I already own out there and he recommended I move forward with something which could generate money quickly and then move on to such a project. The Oak Estates Property had $200,000 - $400,000 but no deal.
I asked Mr. Wessell about a second property, located on Villa Ave, and he ran a comp and said it would not work. I moved on.
I asked about a package of 319 homes I had available to purchase and he passed me on to Casey, one of his people, for help, but then I could not reach anyone to give me direction or an answer as to what was happening. That deal was not completed.
321 homes submitted and no deals. I stood to make about $7 million dollars on the 319 homes package.
I complained to the Better Business Bureau and Kevin offered to pay $500 as a compromise to a program which cost us $19,604. Companies Inc responded and the BBB simply marked them as having resolved the issue. I complained again about the incorrect listing by the BBB and after 30 minutes of discussion they agreed to change it to unresolved.
I was scammed and will continue pursuing a resolution.
BEWARE. There are many scams and this happens to be very well disguised. Kevin is slick and very personable until you ask for a refund. He is not available for calls after you show dissatisfaction, even though you can hear him in the background telling the secretary to say he is out.
October 25, 2007. Met a salesmen by the name of Marc Cajigal at Companies Incorporated in Valencia with my business partner Damon. I informed Marc about my desire to obtain a business loan in order to pay off debts and finish construction on my rental property located in West Hills, CA. I told him that I was looking for approximately a $250,000 to $300,000 loan. He informed me that the best way to get a type of loan like this was to obtain a aged corporation which Companies Inc. sold. He informed me that in order to obtain the kind of loan that I was looking for, I would have to purchase a corporation that was at least three years old. I asked how much a three year old corporation would cost and he informed me that it was in the $2,500-$3,000 range. We then started talking about a corporation that Companies Inc. had for sale. The cost for this company for sale was approximately $2,600. I told him that I was interested in purchasing this aged company and asked what the process was to get a loan for this it. Mr. Cajigal informed me that in order to get the kind of loan I was looking for, I would also have to purchase their ELITE CREDIT PROGRAM which handled the entire process for me including setting up trade references and setting up credit lines. The cost for this service was $4,000. I agreed to do this and set up another meeting for November.
November 9, 2007. Met Marc Cajigal again at Companies Inc. in Valencia. Once again Mr. Cajigal assured me that obtaining a loan in the $250,000-$300,000 range was in his words no problem. On that day, I purchased the aged company for approximately $2,600 on my credit card. I then asked him about the ELITE CREDIT PROGRAM and he told me someone from his office would call me regarding the details on how to pay for it and set it up.
December 13, 2007. Received an email from Marc Cajigal which I had to sign in order for my credit card to be charged the $4,000 for the ELITE CREDIT PROGRAM
December 17, 2007. Someone from Direct Credit Advantage named Emily Bush called me and sent me an e-mail letting me know that they were going to be handling the credit establishment for me as part of the ELITE CREDIT PROGRAM. She told me that they work with Companies Inc. all the time and that I had nothing to worry about. They emailed me a Welcome Packet which laid out what I now had to do to expedite the process which included information on how to set up the trade references myself! This went directly against what Mr. Cajigal told me. Confused and desperate, I decided to research this.
January 7, 2008. After a few weeks of seeking out trade references that Direct Credit Advantage supplied me (many of which did not work or were out of business), I faxed over what I had come up with. Again, I was not happy that I had to do the leg work on something that was promised to me, but I did it anyway. I then called over to Emily Bush to make sure she got my completion of the Welcome Packet. She told me that in a few weeks time I should have a DUNS number from Dunn and Bradstreet as well as a Paydex score and at that point I could start applying for loans.
January 30, 2008. Getting frustrated now because I have not heard anything from Direct Credit Advantage (DCA) about my profile. I am starting to wonder just what I paid $7,000 for. I call over to DCA to find out what is going on and spoke to one of their managers named Chris. He told me everything was fine and even told me he had a few more trade references he could attach to my profile to make it look more attractive. I again asked him about getting going on a loan because the real estate market was starting to change and I really needed to move on fixing up my rental property. He told me that everything would be fine and that someone would get back to me shortly.
February 14, 2008. After two weeks I receive an e-mail from Emily Bush regarding some lenders. I contacted some of the lenders she provided in the email who informed me that they didnt deal with companies that were less that 5 years old!! My company was only 3 years old. A couple of the lenders informed me that my newly purchased company had a cloud over it and could not receive financing!!
February 20, 2008. I receive a call from my friend Gene who also purchased a aged corporation from Companies Inc. after my reccomendation. He informed me that he was having problems getting a loan with his company as well. Both Gene and I then call over to DCA to find out what is going on. I spoke to a gentleman named Sarkus, the president of DCA, who informed me that my company and Genes company were purchased by Companies Inc. years ago under the Registered Agent name Presidential Services Inc which Dunn and Bradstreet had red flagged as a high risk before they were even sold to us. Thus, any loan that was attempted with these companies would be rejected. Sarkus also told me that they are now in a lawsuit with Companies Inc and that they could not be trusted. Sarkus informs then me that I should ask for my money back from Companies Inc. and to purchase a new company with DCA with a new registered agent. This same week I find out that Marc Cajigal, the gentleman who had originally sold me on this entire Business credit financing process, has been fired by Companies Inc and now works for Direct Credit Advantage!!! I spoke with Marc, and he informed me that Companies Inc is in turmoil and that I should now only deal directly with DCA. At this point I really do not know who to trust or who to believe.
February 21, 2008. I call over to Companies Inc. to get their side of the story. I spoke to a gentleman by the name of Jeff Ray who is one of the mangers. He told me that nothing was wrong and that everything is being handled. I informed him that as long as Presidential Services was attached to the corporation I purchased, I would have difficulty obtaining a loan. He again said that everything would be fine. When I asked him about the $4,000 I spent for the ELITE CREDIT PROGRAM, he told me that Companies Inc. would be taking over my account from here on out and that I should no longer speak with DCA!
February 25, 2008. I receive a letter from the Secretary of State that my company has changed Registered Agents from something called Presidential Services to a subsidiary of Companies Inc., Registered Agents of America. Something is not right in Denmark.
February 27, 2008. I receive an email from Jeff Ray with a brand new credit establishment welcome package application which basically lets me know that I now have to start from scratch with new trade references! I attempt to use a new list of trade references that Companies Inc. provided me, and the majority of them did not work. Again, I kept thinking that all of this work was supposed to be done for me. What did I spend $7,000 for? Why was I running all over town when Companies Inc. promised me these trade lines would be established for me? What I was doing is not what I was promised. At this point I am now furious! Months have passed and the real estate market has changed, my adjustable rate mortgage came in on my rental property and I am now at the mercy of Companies Inc. I am now buried financially and am forced to place my rental property in West Hills up for a short sale.
March 3, 2008. I speak to a gal named Brenda from Companies Inc. who tells me that she will be handling everything for me from here on out. She apologizes profusely for the handling of my account and once again I am promised that everything will be handled for me including setting me up in a new program they had where aged trade lines and references were already set-up and that I should check back in a few weeks to find out the status. I tell Brenda that unfortunately the window of opportunity for me to obtain a loan has passed because of Companies Inc and DCAs mishandling of my account and that I would have to wait. She informs me that she will still work on my account.
May 1, 2008. I havent heard from Companies Inc for two months. I call over to the office to find out what is going on with my account. They tell me someone will get back to me. No one did.
May 3-5, 2008. I attempt to call Companies Inc over the next few days, but their lines are busy.
June 2008- May 2009. My credit ruined because of financial difficulty and having to short sale my rental property, I spent the rest of the year settling debts and trying to repair my credit rating knowing that in order for me to obtain a business loan now that it would have to be personally guaranteed against my own credit score.
May 11, 2009. After working on my credit score, I decide to do some research on my company to see if anything Brenda had promised over the year had been done. Nothing! Not one trade line and no credit establishment. I then decide to make a trip to Companies Inc. to confront Jeff Ray in person and demand my money back. I informed him that Companies Inc. did not live up to their promises and that I am extremely unsatisfied. I told him that I just wanted my $7,000 back. Jeff then brings in one of the CEOs named Matt. Again, I explain the situation and that I that I think it was highly unfair to treat customers this way and that I thought I got caught up in their drama. I reminded him of their websites 100% money back customer satisfaction guarantee in which they promise that this process would be set-up quickly and accurately or your money back, neither of which happened. I told them that I did not want to make an issue out of this, but to just return my money to me. Matt attempted to try and get me to complete the credit establishment program, at which point I informed him that I no longer trusted the integrity of the company and that I just wanted my money back. He said he understood and that he would have to talk to the other CEO, Kevin Wessell.
May 13, 2009. I call over to Jeff Ray to find out the status of my refund. He transfers me over to the CEO Matt. Matt then informs me that he spoke to the other CEO and says all of the money has been paid out. I said to him, Well, what does that have to do with me? Nothing has been done on my account that was promised to me. He then offers me $250!! He then says, but if youd like to continue with your credit establishment we could do that. I then remind him of his companys 100% money back customer satisfaction guarantee, and he replies, We tried to work with you but you did not return phone calls and you missed meetings. Needless to say I was FURIOUS and could tell where this was now leading. I informed him that if I do not receive my money back by the end of the day that there would be a legal issue. He said, Thats fine then. Two weeks later I filed a small claims case against Companies Incorporated in the amount of $7,000
October 19,2009.I show up for my case in Small Claims Court in Santa Clarita, CA. Kevin Wessell shows up on behalf of Companies Incorporated. The judge, as is customary, encourages all parties that showed up for hearings that day to try and come to a settlement outside the courtroom before any hearing takes place. I step outside with Mr. Wessel who to my amazement is still completely defiant. I tell him that he is not going to win this case because I had substantial evidence against him with my dealings with their subsidiary Direct Credit Advantage. Again, I reminded him of the 100% money back guarantee which stated that my company would be established quickly and accurately or your money back and even showed him a printout from HIS website. He says, Well, you didnt return phone calls and you didnt complete your welcome package, but if you would like to complete the process we could do that. Otherwise, well just hear what the judge has to say. I say to him, Are you f-ing kidding me?! This is how you treat your customers? You are actually willing to go into this courtroom to FIGHT to keep my money?! He says, Yes. The case begins in court, I show the judge the email exchanges between me and DCA which PROVE I was attempting to do my part including the completed welcome package, I describe the complete debacle regarding the cloud over my registered agent, I express my displeasure, I show the 100% money back guarantee. Mr. Wessell then completely LIES to the judge stating that I missed numerous meeting and didnt return phone calls. Again, I kept looking at this a-hole in court fighting to keep my money!!! The jude ruled in my favor however there were some non-refundable expenses with DCA so I came to an agreement in the amount of $3,900. Outside the courthouse, I tell Kevin that we didnt have to go through all of this if he would have just refunded my money like I wanted months ago. He said he was sorry I wasnt satisfied with the process.
November 4, 2009. I call over to Kevin Wessells office at Companies Incorporated to see about the status of my refund. They put me on hold forever and then finally connect me with Matt Mitchell. I ask him whats the status of my refund. He replies, we are filing an appeal on the case. I was in shock! I compromised in court to the tune of $3,900 instead of the $7,000 and these mother f-ers are still fighting to keep my money!!!!!!!!!!!!!!!!! I have not received my appeal papers yet, so this story still does not have an ending. But I did find it very interesting that the Companies Incorporated web site no longer displays the 100% Money Back Satisfaction Guarantee, but rather something that says your satisfaction is guaranteed but nothing about GETTING YOUR MONEY BACK! But the moral here is that Companies Incorporated CANNOT BE TRUSTED. I implore any of you who are thinking of buying an aged corporation to NOT do business with these people. They are liars and thieves who hide themselves behind the protection of Limited Liability companies. I got suckered and sweet talked into believing that if I purchased an aged corporation with this elite credit program that everything would be handled for me. Well if something sounds too good to be true, then it usually is. Dont trust all companies just because they may reside in a marble building or have a very slick looking website. It could become a VERY expensive mistake if you dont do the research. Please dont make the same mistake I did.
I too have been ripped off and spent a lot of time and money that was completely WASTED working with Companies Incorporated, www.companiesinc.com, www.1800company.com, and Richard Goddeau of GSCSC Inc. ( www.GSCSC.net ) . These people have worked together in the past and they may still be working together today for all I know. Every time I call I get a different answer from someone. Neither of these companies care about you as a customer, they just want your money. It is pure GREED.
Richard Goddeau and Kevin Wessell are two of the most shady individuals I have ever heard of. Do a search online and you will see their true colors.
All of the individuals that are named in these reports, Jeff Ray, Kevin Wessell, Paul Hessey, Matt Mitchell may have used fake names. They are creative like that, but the truth will come out and law enforcement action will hopefully be taken against them. I can only await the day when I find out that they are in jail or worse.
I could go on and on but I am totally disgusted with all of the individuals and companies named in these Rip Off Reports. They say they are not scam artists, but what are they?
Avoid these websites and the companies affiliated with Richard Goddeau, Kevin Wessell or any of these people.
The representatives at www.companiesinc.com will say anything to get you to send them money. They will not do what they say they will do. They are just out to get your money. Do not do business with them. Try another service. Beware they will keep calling you and say anything and everything to get your money.
Their business model is to 1 Do whatever it takes to get your money include lie, and make false promises. 2. Offer to give you back half the money they took from you.
3. Hope you just go away and don't take them to court.
They probably figure that 50 percent of peolpe just give up and let them keep the money. NOT ME....I NEVER GIVE UP!!!!
I was looking to establish a Dun and Bradstreet profile in hopes of obtaining business credit in the future for our young business. I did some searching and found CompaniesInc on the net. I called them, amongst others offering similar services, and they said they could establish a D&B profile along with credit lines for various vendors; gas cards, computers, etcetera. To date, 7 months later, I have nothing but a D&B profile. I could have done this for the $2995 they charged me personally...not even on a "business" credit card! I get no response to emails or phone calls. They subcontracted the D&B credit building work to a guy in another state. I assume they are in this SCAM together since neither has performed for the money given them other than the initial profile. I find it pathetic that they prey on new businesses trying to get out from under the personal debt load incurred during the startup phase while you're trying to get an SBA loan! I have asked them for a refund or some performance on the deal...I get no response or nothing but lies.
Companies incorporated scammed, scammed, scammed by well oiled liars and con artists who don't give a crap about the client. Santa clarita nationwide
Companies inc sold me a company with a guaranteed real estate line of credit which does not work. It cost $19,604.00.
I purchased this company with a guaranteed line of credit of up to one million dollars for buying real estate.
The line of credit is supposed to be available regardless of credit score, and without collateral, other than the subject property and without any personal guarantees, as long as the purchase price is 65% of after repair value Arv).
My business partner and i had a house appraised at $850,000 It was appraised 3 times over a period of 9 months, with an arv of $950,000-$975,000 and we requested loans several different times for three different amounts over the course of 10 months.
The first loan was for $600,000, 71% of ltv and 63% of arv;
Second loan request for $550,000, 65% of ltv and 58% of arv, and
Third loan request for $450,000, 53% of ltv and 47% of arv.
They were unable to perform and finance the deal as guaranteed. So
For the $600,000 amount kevin wessell, owner of companies incorporated, asked me to use my house as collateral. Specifically what i did not want to do, and what he told me i would never have to do, and why i bought this program.
Second kevin requested i set up a trust to allow him to share 20% of the profits. Again the deal fell apart.
Third kevin wanted someone with a good fico score to be added to my company and to sign for the loan. Again, specifically what i did not want to do; and what he told me i would never have to do, and why i bought this program.
Kevin finally found a person Name omitted) who was added to my llc to do the guarantee and still kevin was unable to perform as promised.
The company i bought was for a specific purpose and they knew that purpose. After they were unable to perform they told us, well not every deal goes through. Their website boasted a 100% performance so long as parameters are met. We went beyond meeting their parameters. They even gave us a letter of pre-approval for $1,000,000.
My partner and i waited and worked with them for the past year to allow them a chance to perform. I really wanted this to work. I stood to make $200,000 - $400,000 from this one deal. However, since they could not perform i requested a refund of my money. They refused. Their response is, go out and find other properties.
In october of 2007 the credit card company granted a temporary refund of our money until companies inc responded. Companies inc responded with libelous and slanderous remarks to the credit card company. It appears that visa rules do not aid us due to time and we must seek other remedy avenues.
I printed out companies incs website from august of 2006, when we bought their scam - now they have changed their website as of january 2008. Their response to the credit card is that we altered companies incs website and printed it out to show their guarantees. We did not and do not have access to their back office to make such changes. Pretty bold lie.
Here are the immortal words of matt, an employee of companies inc. When i informed him that i will request a charge back from the credit card company. He said, we are a huge company who makes a lot of money for these credit card companies because their clients use their cards for our services, you really think they are going to listen to a little nobody like you. Get real and move on with your life.
Companies inc charges that we purchased four products from them and our dispute is over one of those products. Let me set the record straight. I informed matt and kevin that we are not interested in the llc, the credit builder program or the real estate course, only the line of credit. They informed me that the credit line for real estate purchases only comes with the llc, or company, the credit program is part of that already, and the real estate course is to learn how to structure the deal.
1. The llc was delivered, but then a few months later they brought in a third person to be the president in order to attempt to secure the financing. Now it is no longer my llc.
Note: i have been in the incorporating business for 11 years and do not need anyone to incorporate me. I bought the llc for the credit alone. Matt and kevin were advised of that fact on several occasions and about 20 times before and during the purchase.
2. The credit program. I talked to a guy, from business credit services, a couple of times who collected my information and sent me a regurgitation of that information along with information on other companies having similar names and how i should protect my company name. I set up the company i told him about, it was not the llc purchased from companies inc., and he sent me a100 page report on information i told him or am already aware of and they call this a credit building service? I do not need secretarial services.
3. The two day training course on how to structure a real estate offer. Again i informed them i have been involved with real estate for many years, but they insisted as this will show me how to do the proposal structure. Kevin and rusty, the owner of endeavor, the company which puts on the 2 day course, both assured me it was good as done. We can close this within 7-10 days assured me kevin. The real estate course was nothing more than a glorified sales pitch for endeavors other courses which cost $2,000 plus.
4. The up to $1,000,000 line of credit for real estate purchases so long
As certain parameters are met. The parameters are:
A. Pictures and purchase contract
B. Appraisal
C. Comps, preferably a cma from a real estate agent
D. Plot map
E. Map of how to get to property
F. Letter requesting loan and stating that it is for business purposes
Thus allowing them to charge higher interest rates than would be
Allowed if the loan was for personal use.
G. List of repairs
H. Plan of action how do you plan on recovering the money.
We complied several times to try to help them finance us as guaranteed..
Mr. Wessell chose to concentrate on the first three services to claim that services were rendered. Conveniently forgetting to deal with the only reason we bought this llc from companies inc. - the line of credit.
His response to the inability to deliver on the money is amazing. He lies about their guarantees on their site and charges us with fraud that we altered their website. Since he, along with his employees, view their clients as nobodies they figure they can continue the scam attack and feast on these nobodies. By the way they do not offer these programs anymore and have changed their website to attempt to refute all of our claims. They dont seem to realize that all past websites are secured and on record.
He also lies and claims that they do not loan based off of the arv. At the 2 day course, slide 106, entitled getting cash back rusty and kevin demonstrate this scenario:
Property is worth $100,000;
You negotiate to purchase it for $80,000;
And the seller carries $30,000,
Then you only need to pay the seller $50,000
However, by using the structure they are teaching
You will borrow 70% of the $100,000
Thus acquiring a loan for $70,000
You will pay seller $50,000
Thus pocketing $20,000.
Mr. Wessell made an outright lie to the credit card company telling them that such deals do not take place; that loans are only based off of the purchase price. Yet mr. Wessell is willing to refuse to perform and yet claim, our goal is 100% customer satisfaction. On his website.
Another lie mr. Wessell was quick to conjure was that i only submitted one deal to him. First of all their site, the 2 day course, and companies inc. Do not condition financing on submitting multiple deals. This deal had a $200,000 - $400,000 profit spread.
I asked kevin about 30 acres i wanted to purchase and develop at canyon lake, near a property i already own out there and he recommended i move forward with something which could generate money quickly and then move on to such a project. The oak estates property had $200,000 - $400,000 but no deal.
I asked mr. Wessell about a second property, located on villa ave, and he ran a comp and said it would not work. I moved on.
I asked about a package of 319 homes i had available to purchase and he passed me on to casey, one of his people, for help, but then i could not reach anyone to give me direction or an answer as to what was happening. That deal was not completed.
321 homes submitted and no deals. I stood to make about $7 million dollars on the 319 homes package.
I complained to the better business bureau and kevin offered to pay $500 as a compromise to a program which cost us $19,604. Companies inc responded and the bbb simply marked them as having resolved the issue. I complained again about the incorrect listing by the bbb and after 30 minutes of discussion they agreed to change it to unresolved.
I was scammed and will continue pursuing a resolution.
Beware. There are many scams and this happens to be very well disguised. Kevin is slick and very personable until you ask for a refund. He is not available for calls after you show dissatisfaction, even though you can hear him in the background telling the secretary to say he is out.
I had a bad experience at a company and wrote an honest but overall negative review. It was deleted a week later. And now there are only positive reviews posted about the company. This is not honest, ethical or fair.
Look at what everyone else is saying and take this as proof, because if you read on, I will be showing you two different comments by two different aliases in the review section. The positive comments on this site are all fake as hell lol I almost got scammed by this company, but fortunately I found these reviews. I got to keep my $299.00.
The representatives at www.companiesinc.com will say anything to get you to send them money. They will not do what they say they will do. They are just out to get your money. Do not do business with them. Try another service. Beware they will keep calling you and say anything and everything to get your money.
Their business model is to 1 Do whatever it takes to get your money include lie, and make false promises. 2. Offer to give you back half the money they took from you.
3. Hope you just go away and don't take them to court.
They probably figure that 50 percent of peolpe just give up and let them keep the money. NOT ME....I NEVER GIVE UP!!!!
Companies Incorporated Reviews
COMPANIES INC sold me a company with a guaranteed real estate line of credit which does not work. It cost $19,604.00.
I purchased this company with a guaranteed line of credit of up to one million dollars for buying real estate.
The line of credit is supposed to be available regardless of credit score, and without collateral, other than the subject property and without any personal guarantees, as long as the purchase price is 65% of after repair value (ARV).
My business partner and I had a house appraised at $850,000 (it was appraised 3 times over a period of 9 months, with an ARV of $950,000-$975,000 and we requested loans several different times for three different amounts over the course of 10 months.
The first loan was for $600,000, 71% of LTV and 63% of ARV;
Second loan request for $550,000, 65% of LTV and 58% of ARV, and
Third loan request for $450,000, 53% of LTV and 47% of ARV.
They were unable to perform and finance the deal as guaranteed. So
For the $600,000 amount Kevin Wessell, owner of Companies Incorporated, asked me to use my house as collateral. SPECIFICALLY what I did not want to do, and what he told me I would never have to do, and why I bought this program.
Second Kevin requested I set up a trust to allow him to share 20% of the profits. Again the deal fell apart.
Third Kevin wanted someone with a good FICO score to be added to my company and to sign for the loan. Again, SPECIFICALLY what I did not want to do; and what he told me I would never have to do, and why I bought this program.
Kevin finally found a person (name omitted) who was added to my LLC to do the guarantee and still Kevin was unable to perform as promised.
The company I bought was for a specific purpose and they knew that purpose. After they were unable to perform they told us, Well not every deal goes through. Their website boasted a 100% performance so long as parameters are met. We went beyond meeting their parameters. They even gave us a letter of pre-approval for $1,000,000.
My partner and I waited and worked with them for the past year to allow them a chance to perform. I really wanted this to work. I stood to make $200,000 - $400,000 from this one deal. However, since they could not perform I requested a refund of my money. They refused. Their response is, Go out and find other properties.
In October of 2007 the credit card company granted a temporary refund of our money until Companies Inc responded. Companies Inc responded with libelous and slanderous remarks to the credit card company. It appears that Visa rules do not aid us due to time and we must seek other remedy avenues.
I printed out Companies Incs website from August of 2006, when we bought their scam - now they have changed their website as of January 2008. Their response to the credit card is that we altered Companies Incs website and printed it out to show their guarantees. We did not and do not have access to their back office to make such changes. Pretty bold lie.
Here are the immortal words of Matt, an employee of Companies Inc. when I informed him that I will request a charge back from the credit card company. He said, We are a huge company who makes a lot of money for these credit card companies because their clients use their cards for our services, you really think they are going to listen to a little nobody like you. Get real and move on with your life.
Companies Inc charges that we purchased four products from them and our dispute is over one of those products. Let me set the record straight. I informed Matt and Kevin that we are not interested in the LLC, the credit builder program or the real estate course, only the line of credit. They informed me that the credit line for real estate purchases only comes with the LLC, or company, the credit program is part of that already, and the real estate course is to learn how to structure the deal.
1. The LLC was delivered, but then a few months later they brought in a third person to be the president in order to attempt to secure the financing. Now it is no longer my LLC.
NOTE: I have been in the incorporating business for 11 years and do not need anyone to incorporate me. I bought the LLC for the credit alone. Matt and Kevin were advised of that fact on several occasions and about 20 times before and during the purchase.
2. The credit program. I talked to a guy, from Business Credit Services, a couple of times who collected my information and sent me a regurgitation of that information along with information on other companies having similar names and how I should protect my company name. I set up the company I told him about, it was not the LLC purchased from Companies Inc., and he sent me a100 page report on information I told him or am already aware of and they call this a credit building service? I do not need secretarial services.
3. The two day training course on how to structure a real estate offer. Again I informed them I have been involved with real estate for many years, but they insisted as this will show me how to do the proposal structure. Kevin and Rusty, the owner of Endeavor, the company which puts on the 2 day course, both assured me it was good as done. We can close this within 7-10 days assured me Kevin. The Real estate course was nothing more than a glorified sales pitch for Endeavors other courses which cost $2,000 plus.
4. The up to $1,000,000 line of credit for real estate purchases so long
as certain parameters are met. The parameters are:
a. Pictures and purchase contract
b. Appraisal
c. Comps, preferably a CMA from a Real Estate Agent
d. Plot map
e. Map of how to get to property
f. Letter requesting loan and stating that it is for business purposes
thus allowing them to charge higher interest rates than would be
allowed if the loan was for personal use.
g. List of repairs
h. Plan of action how do you plan on recovering the money.
We complied several times to try to help them finance us as guaranteed..
Mr. Wessell chose to concentrate on the first three services to claim that services were rendered. Conveniently forgetting to deal with the only reason we bought this LLC from Companies Inc. - the line of credit.
His response to the inability to deliver on the money is amazing. He lies about their guarantees on their site and charges us with fraud that we altered their website. Since he, along with his employees, view their clients as NOBODIES they figure they can continue the scam attack and feast on these NOBODIES. By the way they do not offer these programs anymore and have changed their website to attempt to refute all of our claims. They dont seem to realize that all past websites are secured and on record.
He also lies and claims that they do not loan based off of the ARV. At the 2 day course, Slide 106, entitled Getting Cash Back Rusty and Kevin demonstrate this scenario:
Property is worth $100,000;
you negotiate to purchase it for $80,000;
and the Seller carries $30,000,
then you only need to pay the seller $50,000
However, by using the structure they are teaching
you will borrow 70% of the $100,000
thus acquiring a loan for $70,000
you will pay seller $50,000
thus pocketing $20,000.
Mr. Wessell made an outright lie to the credit card company telling them that such deals do not take place; that loans are only based off of the purchase price. Yet Mr. Wessell is willing to refuse to perform and yet claim, Our goal is 100% customer satisfaction. on his website.
Another lie Mr. Wessell was quick to conjure was that I only submitted one deal to him. First of all their site, the 2 day course, and Companies Inc. do not condition financing on submitting multiple deals. This deal had a $200,000 - $400,000 profit spread.
I asked Kevin about 30 acres I wanted to purchase and develop at Canyon Lake, near a property I already own out there and he recommended I move forward with something which could generate money quickly and then move on to such a project. The Oak Estates Property had $200,000 - $400,000 but no deal.
I asked Mr. Wessell about a second property, located on Villa Ave, and he ran a comp and said it would not work. I moved on.
I asked about a package of 319 homes I had available to purchase and he passed me on to Casey, one of his people, for help, but then I could not reach anyone to give me direction or an answer as to what was happening. That deal was not completed.
321 homes submitted and no deals. I stood to make about $7 million dollars on the 319 homes package.
I complained to the Better Business Bureau and Kevin offered to pay $500 as a compromise to a program which cost us $19,604. Companies Inc responded and the BBB simply marked them as having resolved the issue. I complained again about the incorrect listing by the BBB and after 30 minutes of discussion they agreed to change it to unresolved.
I was scammed and will continue pursuing a resolution.
BEWARE. There are many scams and this happens to be very well disguised. Kevin is slick and very personable until you ask for a refund. He is not available for calls after you show dissatisfaction, even though you can hear him in the background telling the secretary to say he is out.
October 25, 2007. Met a salesmen by the name of Marc Cajigal at Companies Incorporated in Valencia with my business partner Damon. I informed Marc about my desire to obtain a business loan in order to pay off debts and finish construction on my rental property located in West Hills, CA. I told him that I was looking for approximately a $250,000 to $300,000 loan. He informed me that the best way to get a type of loan like this was to obtain a aged corporation which Companies Inc. sold. He informed me that in order to obtain the kind of loan that I was looking for, I would have to purchase a corporation that was at least three years old. I asked how much a three year old corporation would cost and he informed me that it was in the $2,500-$3,000 range. We then started talking about a corporation that Companies Inc. had for sale. The cost for this company for sale was approximately $2,600. I told him that I was interested in purchasing this aged company and asked what the process was to get a loan for this it. Mr. Cajigal informed me that in order to get the kind of loan I was looking for, I would also have to purchase their ELITE CREDIT PROGRAM which handled the entire process for me including setting up trade references and setting up credit lines. The cost for this service was $4,000. I agreed to do this and set up another meeting for November.
November 9, 2007. Met Marc Cajigal again at Companies Inc. in Valencia. Once again Mr. Cajigal assured me that obtaining a loan in the $250,000-$300,000 range was in his words no problem. On that day, I purchased the aged company for approximately $2,600 on my credit card. I then asked him about the ELITE CREDIT PROGRAM and he told me someone from his office would call me regarding the details on how to pay for it and set it up.
December 13, 2007. Received an email from Marc Cajigal which I had to sign in order for my credit card to be charged the $4,000 for the ELITE CREDIT PROGRAM
December 17, 2007. Someone from Direct Credit Advantage named Emily Bush called me and sent me an e-mail letting me know that they were going to be handling the credit establishment for me as part of the ELITE CREDIT PROGRAM. She told me that they work with Companies Inc. all the time and that I had nothing to worry about. They emailed me a Welcome Packet which laid out what I now had to do to expedite the process which included information on how to set up the trade references myself! This went directly against what Mr. Cajigal told me. Confused and desperate, I decided to research this.
January 7, 2008. After a few weeks of seeking out trade references that Direct Credit Advantage supplied me (many of which did not work or were out of business), I faxed over what I had come up with. Again, I was not happy that I had to do the leg work on something that was promised to me, but I did it anyway. I then called over to Emily Bush to make sure she got my completion of the Welcome Packet. She told me that in a few weeks time I should have a DUNS number from Dunn and Bradstreet as well as a Paydex score and at that point I could start applying for loans.
January 30, 2008. Getting frustrated now because I have not heard anything from Direct Credit Advantage (DCA) about my profile. I am starting to wonder just what I paid $7,000 for. I call over to DCA to find out what is going on and spoke to one of their managers named Chris. He told me everything was fine and even told me he had a few more trade references he could attach to my profile to make it look more attractive. I again asked him about getting going on a loan because the real estate market was starting to change and I really needed to move on fixing up my rental property. He told me that everything would be fine and that someone would get back to me shortly.
February 14, 2008. After two weeks I receive an e-mail from Emily Bush regarding some lenders. I contacted some of the lenders she provided in the email who informed me that they didnt deal with companies that were less that 5 years old!! My company was only 3 years old. A couple of the lenders informed me that my newly purchased company had a cloud over it and could not receive financing!!
February 20, 2008. I receive a call from my friend Gene who also purchased a aged corporation from Companies Inc. after my reccomendation. He informed me that he was having problems getting a loan with his company as well. Both Gene and I then call over to DCA to find out what is going on. I spoke to a gentleman named Sarkus, the president of DCA, who informed me that my company and Genes company were purchased by Companies Inc. years ago under the Registered Agent name Presidential Services Inc which Dunn and Bradstreet had red flagged as a high risk before they were even sold to us. Thus, any loan that was attempted with these companies would be rejected. Sarkus also told me that they are now in a lawsuit with Companies Inc and that they could not be trusted. Sarkus informs then me that I should ask for my money back from Companies Inc. and to purchase a new company with DCA with a new registered agent. This same week I find out that Marc Cajigal, the gentleman who had originally sold me on this entire Business credit financing process, has been fired by Companies Inc and now works for Direct Credit Advantage!!! I spoke with Marc, and he informed me that Companies Inc is in turmoil and that I should now only deal directly with DCA. At this point I really do not know who to trust or who to believe.
February 21, 2008. I call over to Companies Inc. to get their side of the story. I spoke to a gentleman by the name of Jeff Ray who is one of the mangers. He told me that nothing was wrong and that everything is being handled. I informed him that as long as Presidential Services was attached to the corporation I purchased, I would have difficulty obtaining a loan. He again said that everything would be fine. When I asked him about the $4,000 I spent for the ELITE CREDIT PROGRAM, he told me that Companies Inc. would be taking over my account from here on out and that I should no longer speak with DCA!
February 25, 2008. I receive a letter from the Secretary of State that my company has changed Registered Agents from something called Presidential Services to a subsidiary of Companies Inc., Registered Agents of America. Something is not right in Denmark.
February 27, 2008. I receive an email from Jeff Ray with a brand new credit establishment welcome package application which basically lets me know that I now have to start from scratch with new trade references! I attempt to use a new list of trade references that Companies Inc. provided me, and the majority of them did not work. Again, I kept thinking that all of this work was supposed to be done for me. What did I spend $7,000 for? Why was I running all over town when Companies Inc. promised me these trade lines would be established for me? What I was doing is not what I was promised. At this point I am now furious! Months have passed and the real estate market has changed, my adjustable rate mortgage came in on my rental property and I am now at the mercy of Companies Inc. I am now buried financially and am forced to place my rental property in West Hills up for a short sale.
March 3, 2008. I speak to a gal named Brenda from Companies Inc. who tells me that she will be handling everything for me from here on out. She apologizes profusely for the handling of my account and once again I am promised that everything will be handled for me including setting me up in a new program they had where aged trade lines and references were already set-up and that I should check back in a few weeks to find out the status. I tell Brenda that unfortunately the window of opportunity for me to obtain a loan has passed because of Companies Inc and DCAs mishandling of my account and that I would have to wait. She informs me that she will still work on my account.
May 1, 2008. I havent heard from Companies Inc for two months. I call over to the office to find out what is going on with my account. They tell me someone will get back to me. No one did.
May 3-5, 2008. I attempt to call Companies Inc over the next few days, but their lines are busy.
June 2008- May 2009. My credit ruined because of financial difficulty and having to short sale my rental property, I spent the rest of the year settling debts and trying to repair my credit rating knowing that in order for me to obtain a business loan now that it would have to be personally guaranteed against my own credit score.
May 11, 2009. After working on my credit score, I decide to do some research on my company to see if anything Brenda had promised over the year had been done. Nothing! Not one trade line and no credit establishment. I then decide to make a trip to Companies Inc. to confront Jeff Ray in person and demand my money back. I informed him that Companies Inc. did not live up to their promises and that I am extremely unsatisfied. I told him that I just wanted my $7,000 back. Jeff then brings in one of the CEOs named Matt. Again, I explain the situation and that I that I think it was highly unfair to treat customers this way and that I thought I got caught up in their drama. I reminded him of their websites 100% money back customer satisfaction guarantee in which they promise that this process would be set-up quickly and accurately or your money back, neither of which happened. I told them that I did not want to make an issue out of this, but to just return my money to me. Matt attempted to try and get me to complete the credit establishment program, at which point I informed him that I no longer trusted the integrity of the company and that I just wanted my money back. He said he understood and that he would have to talk to the other CEO, Kevin Wessell.
May 13, 2009. I call over to Jeff Ray to find out the status of my refund. He transfers me over to the CEO Matt. Matt then informs me that he spoke to the other CEO and says all of the money has been paid out. I said to him, Well, what does that have to do with me? Nothing has been done on my account that was promised to me. He then offers me $250!! He then says, but if youd like to continue with your credit establishment we could do that. I then remind him of his companys 100% money back customer satisfaction guarantee, and he replies, We tried to work with you but you did not return phone calls and you missed meetings. Needless to say I was FURIOUS and could tell where this was now leading. I informed him that if I do not receive my money back by the end of the day that there would be a legal issue. He said, Thats fine then. Two weeks later I filed a small claims case against Companies Incorporated in the amount of $7,000
October 19,2009.I show up for my case in Small Claims Court in Santa Clarita, CA. Kevin Wessell shows up on behalf of Companies Incorporated. The judge, as is customary, encourages all parties that showed up for hearings that day to try and come to a settlement outside the courtroom before any hearing takes place. I step outside with Mr. Wessel who to my amazement is still completely defiant. I tell him that he is not going to win this case because I had substantial evidence against him with my dealings with their subsidiary Direct Credit Advantage. Again, I reminded him of the 100% money back guarantee which stated that my company would be established quickly and accurately or your money back and even showed him a printout from HIS website. He says, Well, you didnt return phone calls and you didnt complete your welcome package, but if you would like to complete the process we could do that. Otherwise, well just hear what the judge has to say. I say to him, Are you f-ing kidding me?! This is how you treat your customers? You are actually willing to go into this courtroom to FIGHT to keep my money?! He says, Yes. The case begins in court, I show the judge the email exchanges between me and DCA which PROVE I was attempting to do my part including the completed welcome package, I describe the complete debacle regarding the cloud over my registered agent, I express my displeasure, I show the 100% money back guarantee. Mr. Wessell then completely LIES to the judge stating that I missed numerous meeting and didnt return phone calls. Again, I kept looking at this a-hole in court fighting to keep my money!!! The jude ruled in my favor however there were some non-refundable expenses with DCA so I came to an agreement in the amount of $3,900. Outside the courthouse, I tell Kevin that we didnt have to go through all of this if he would have just refunded my money like I wanted months ago. He said he was sorry I wasnt satisfied with the process.
November 4, 2009. I call over to Kevin Wessells office at Companies Incorporated to see about the status of my refund. They put me on hold forever and then finally connect me with Matt Mitchell. I ask him whats the status of my refund. He replies, we are filing an appeal on the case. I was in shock! I compromised in court to the tune of $3,900 instead of the $7,000 and these mother f-ers are still fighting to keep my money!!!!!!!!!!!!!!!!! I have not received my appeal papers yet, so this story still does not have an ending. But I did find it very interesting that the Companies Incorporated web site no longer displays the 100% Money Back Satisfaction Guarantee, but rather something that says your satisfaction is guaranteed but nothing about GETTING YOUR MONEY BACK! But the moral here is that Companies Incorporated CANNOT BE TRUSTED. I implore any of you who are thinking of buying an aged corporation to NOT do business with these people. They are liars and thieves who hide themselves behind the protection of Limited Liability companies. I got suckered and sweet talked into believing that if I purchased an aged corporation with this elite credit program that everything would be handled for me. Well if something sounds too good to be true, then it usually is. Dont trust all companies just because they may reside in a marble building or have a very slick looking website. It could become a VERY expensive mistake if you dont do the research. Please dont make the same mistake I did.
I too have been ripped off and spent a lot of time and money that was completely WASTED working with Companies Incorporated, www.companiesinc.com, www.1800company.com, and Richard Goddeau of GSCSC Inc. ( www.GSCSC.net ) . These people have worked together in the past and they may still be working together today for all I know. Every time I call I get a different answer from someone. Neither of these companies care about you as a customer, they just want your money. It is pure GREED.
Richard Goddeau and Kevin Wessell are two of the most shady individuals I have ever heard of. Do a search online and you will see their true colors.
All of the individuals that are named in these reports, Jeff Ray, Kevin Wessell, Paul Hessey, Matt Mitchell may have used fake names. They are creative like that, but the truth will come out and law enforcement action will hopefully be taken against them. I can only await the day when I find out that they are in jail or worse.
I could go on and on but I am totally disgusted with all of the individuals and companies named in these Rip Off Reports. They say they are not scam artists, but what are they?
Avoid these websites and the companies affiliated with Richard Goddeau, Kevin Wessell or any of these people.
The representatives at www.companiesinc.com will say anything to get you to send them money. They will not do what they say they will do. They are just out to get your money. Do not do business with them. Try another service. Beware they will keep calling you and say anything and everything to get your money.
Their business model is to 1 Do whatever it takes to get your money include lie, and make false promises. 2. Offer to give you back half the money they took from you.
3. Hope you just go away and don't take them to court.
They probably figure that 50 percent of peolpe just give up and let them keep the money. NOT ME....I NEVER GIVE UP!!!!
I was looking to establish a Dun and Bradstreet profile in hopes of obtaining business credit in the future for our young business. I did some searching and found CompaniesInc on the net. I called them, amongst others offering similar services, and they said they could establish a D&B profile along with credit lines for various vendors; gas cards, computers, etcetera. To date, 7 months later, I have nothing but a D&B profile. I could have done this for the $2995 they charged me personally...not even on a "business" credit card! I get no response to emails or phone calls. They subcontracted the D&B credit building work to a guy in another state. I assume they are in this SCAM together since neither has performed for the money given them other than the initial profile. I find it pathetic that they prey on new businesses trying to get out from under the personal debt load incurred during the startup phase while you're trying to get an SBA loan! I have asked them for a refund or some performance on the deal...I get no response or nothing but lies.
Companies incorporated scammed, scammed, scammed by well oiled liars and con artists who don't give a crap about the client. Santa clarita nationwide
Companies inc sold me a company with a guaranteed real estate line of credit which does not work. It cost $19,604.00.
I purchased this company with a guaranteed line of credit of up to one million dollars for buying real estate.
The line of credit is supposed to be available regardless of credit score, and without collateral, other than the subject property and without any personal guarantees, as long as the purchase price is 65% of after repair value Arv).
My business partner and i had a house appraised at $850,000 It was appraised 3 times over a period of 9 months, with an arv of $950,000-$975,000 and we requested loans several different times for three different amounts over the course of 10 months.
The first loan was for $600,000, 71% of ltv and 63% of arv;
Second loan request for $550,000, 65% of ltv and 58% of arv, and
Third loan request for $450,000, 53% of ltv and 47% of arv.
They were unable to perform and finance the deal as guaranteed. So
For the $600,000 amount kevin wessell, owner of companies incorporated, asked me to use my house as collateral. Specifically what i did not want to do, and what he told me i would never have to do, and why i bought this program.
Second kevin requested i set up a trust to allow him to share 20% of the profits. Again the deal fell apart.
Third kevin wanted someone with a good fico score to be added to my company and to sign for the loan. Again, specifically what i did not want to do; and what he told me i would never have to do, and why i bought this program.
Kevin finally found a person Name omitted) who was added to my llc to do the guarantee and still kevin was unable to perform as promised.
The company i bought was for a specific purpose and they knew that purpose. After they were unable to perform they told us, well not every deal goes through. Their website boasted a 100% performance so long as parameters are met. We went beyond meeting their parameters. They even gave us a letter of pre-approval for $1,000,000.
My partner and i waited and worked with them for the past year to allow them a chance to perform. I really wanted this to work. I stood to make $200,000 - $400,000 from this one deal. However, since they could not perform i requested a refund of my money. They refused. Their response is, go out and find other properties.
In october of 2007 the credit card company granted a temporary refund of our money until companies inc responded. Companies inc responded with libelous and slanderous remarks to the credit card company. It appears that visa rules do not aid us due to time and we must seek other remedy avenues.
I printed out companies incs website from august of 2006, when we bought their scam - now they have changed their website as of january 2008. Their response to the credit card is that we altered companies incs website and printed it out to show their guarantees. We did not and do not have access to their back office to make such changes. Pretty bold lie.
Here are the immortal words of matt, an employee of companies inc. When i informed him that i will request a charge back from the credit card company. He said, we are a huge company who makes a lot of money for these credit card companies because their clients use their cards for our services, you really think they are going to listen to a little nobody like you. Get real and move on with your life.
Companies inc charges that we purchased four products from them and our dispute is over one of those products. Let me set the record straight. I informed matt and kevin that we are not interested in the llc, the credit builder program or the real estate course, only the line of credit. They informed me that the credit line for real estate purchases only comes with the llc, or company, the credit program is part of that already, and the real estate course is to learn how to structure the deal.
1. The llc was delivered, but then a few months later they brought in a third person to be the president in order to attempt to secure the financing. Now it is no longer my llc.
Note: i have been in the incorporating business for 11 years and do not need anyone to incorporate me. I bought the llc for the credit alone. Matt and kevin were advised of that fact on several occasions and about 20 times before and during the purchase.
2. The credit program. I talked to a guy, from business credit services, a couple of times who collected my information and sent me a regurgitation of that information along with information on other companies having similar names and how i should protect my company name. I set up the company i told him about, it was not the llc purchased from companies inc., and he sent me a100 page report on information i told him or am already aware of and they call this a credit building service? I do not need secretarial services.
3. The two day training course on how to structure a real estate offer. Again i informed them i have been involved with real estate for many years, but they insisted as this will show me how to do the proposal structure. Kevin and rusty, the owner of endeavor, the company which puts on the 2 day course, both assured me it was good as done. We can close this within 7-10 days assured me kevin. The real estate course was nothing more than a glorified sales pitch for endeavors other courses which cost $2,000 plus.
4. The up to $1,000,000 line of credit for real estate purchases so long
As certain parameters are met. The parameters are:
A. Pictures and purchase contract
B. Appraisal
C. Comps, preferably a cma from a real estate agent
D. Plot map
E. Map of how to get to property
F. Letter requesting loan and stating that it is for business purposes
Thus allowing them to charge higher interest rates than would be
Allowed if the loan was for personal use.
G. List of repairs
H. Plan of action how do you plan on recovering the money.
We complied several times to try to help them finance us as guaranteed..
Mr. Wessell chose to concentrate on the first three services to claim that services were rendered. Conveniently forgetting to deal with the only reason we bought this llc from companies inc. - the line of credit.
His response to the inability to deliver on the money is amazing. He lies about their guarantees on their site and charges us with fraud that we altered their website. Since he, along with his employees, view their clients as nobodies they figure they can continue the scam attack and feast on these nobodies. By the way they do not offer these programs anymore and have changed their website to attempt to refute all of our claims. They dont seem to realize that all past websites are secured and on record.
He also lies and claims that they do not loan based off of the arv. At the 2 day course, slide 106, entitled getting cash back rusty and kevin demonstrate this scenario:
Property is worth $100,000;
You negotiate to purchase it for $80,000;
And the seller carries $30,000,
Then you only need to pay the seller $50,000
However, by using the structure they are teaching
You will borrow 70% of the $100,000
Thus acquiring a loan for $70,000
You will pay seller $50,000
Thus pocketing $20,000.
Mr. Wessell made an outright lie to the credit card company telling them that such deals do not take place; that loans are only based off of the purchase price. Yet mr. Wessell is willing to refuse to perform and yet claim, our goal is 100% customer satisfaction. On his website.
Another lie mr. Wessell was quick to conjure was that i only submitted one deal to him. First of all their site, the 2 day course, and companies inc. Do not condition financing on submitting multiple deals. This deal had a $200,000 - $400,000 profit spread.
I asked kevin about 30 acres i wanted to purchase and develop at canyon lake, near a property i already own out there and he recommended i move forward with something which could generate money quickly and then move on to such a project. The oak estates property had $200,000 - $400,000 but no deal.
I asked mr. Wessell about a second property, located on villa ave, and he ran a comp and said it would not work. I moved on.
I asked about a package of 319 homes i had available to purchase and he passed me on to casey, one of his people, for help, but then i could not reach anyone to give me direction or an answer as to what was happening. That deal was not completed.
321 homes submitted and no deals. I stood to make about $7 million dollars on the 319 homes package.
I complained to the better business bureau and kevin offered to pay $500 as a compromise to a program which cost us $19,604. Companies inc responded and the bbb simply marked them as having resolved the issue. I complained again about the incorrect listing by the bbb and after 30 minutes of discussion they agreed to change it to unresolved.
I was scammed and will continue pursuing a resolution.
Beware. There are many scams and this happens to be very well disguised. Kevin is slick and very personable until you ask for a refund. He is not available for calls after you show dissatisfaction, even though you can hear him in the background telling the secretary to say he is out.
I had a bad experience at a company and wrote an honest but overall negative review. It was deleted a week later. And now there are only positive reviews posted about the company. This is not honest, ethical or fair.
Look at what everyone else is saying and take this as proof, because if you read on, I will be showing you two different comments by two different aliases in the review section. The positive comments on this site are all fake as hell lol I almost got scammed by this company, but fortunately I found these reviews. I got to keep my $299.00.
The representatives at www.companiesinc.com will say anything to get you to send them money. They will not do what they say they will do. They are just out to get your money. Do not do business with them. Try another service. Beware they will keep calling you and say anything and everything to get your money.
Their business model is to 1 Do whatever it takes to get your money include lie, and make false promises. 2. Offer to give you back half the money they took from you.
3. Hope you just go away and don't take them to court.
They probably figure that 50 percent of peolpe just give up and let them keep the money. NOT ME....I NEVER GIVE UP!!!!