Consumer complaint received 2020-02-09
Company: FIFTH THIRD FINANCIAL CORPORATION
State: CA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement
Sub-issue: Credit card company isn't resolving a dispute about a purchase on your statement

Complaint:
XXXX, also known as XXXX XXXX XXXX, convinced me to purchase its XXXX XXXX XXXX XXXX program at the price of {$41000.00} and its {$27000.00} XXXX XXXX XXXX program ( paid {$16000.00} ) under false guarantees and misrepresented assumptions, and now they can no longer offer the services I paid for because they have been taken over by the government. 

I attended a XXXX  XXXX  XXXX, XX/XX/XXXX at which time I was offered the opportunity to purchase and attend a 3-day workshop with XXXX XXXX XXXX for {$990.00}. I purchased the workshop on XX/XX/XXXX. ( attachment A ). 

During the 3-day workshop,XX/XX/XXXX, I was enticed to purchase their XXXX package for {$41000.00} ( attachment B ). I was told with that package, I would have specialized training and the guidance needed to be successful as a XXXX  XXXX  XXXX ( XXXX  ). I was told, I would learn how to earn thousands of dollars in profit, with little time and effort. I purchased the XXXX  package over a period of four days ( Attachment C & D ) as I waited for XXXX XXXX ( company that specializes in acquiring at least {$50000.00} in credit card funds for XXXX XXXX XXXX  Clients ) to finish acquiring over {$100000.00} in credit card funding for me. 

XX/XX/XXXX {$2500.00} debit card, ran as credit XX/XX/XXXX {$2500.00} debit card, ran as credit XX/XX/XXXX {$15000.00} XXXX XXXX XXXX card ( new card obtained for this purchase ) XX/XX/XXXX {$12000.00} Fifth Third ( 5/3 ) card ( new card obtained for this purchase ) XX/XX/XXXX {$9000.00} XXXX  XXXX card ( new cad obtained for this purchase ) I then attended their FastStart 3-Day Bootcamp where a trainer came to my area to teach me about XXXX  and XXXX XXXX. It was more of what I had heard/learned at the 3-day workshopXX/XX/XXXX. However, it was still early in the training, so I was confident I could/would learn more. 

On XX/XX/XXXX, aXX/XX/XXXX Representative phoned me to tell me about XX/XX/XXXX ( {$27000.00} ). I was told that this program would give me the best chance of success. I was told this program allows me access to coaches who will guide me step by step on the process that I should take in order to be successful at XXXX  XXXX  XXXX. I thought I had no more money after purchasing the {$41000.00} XXXX XXXX. The representative asked me about my credit cards and their balances, I only had {$16000.00} left on my credit cards. The representative told me which cards to use and how much to put on each card. He said I had nothing to lose and everything to gain. He said my XXXX  XXXX  XXXX  would cover my credit card payments and when I started making money, I could pay the remaining {$10000.00}, ( attachment E ) XX/XX/XXXX {$4500.00} XXXX XXXX card ( new card obtained for this purchase ) XX/XX/XXXX {$9500.00} XX/XX/XXXX card ( new card obtained for this purchase ) XX/XX/XXXX {$2500.00} Fifth Third ( 5/3 ) ( new card obtained for this purchase ) I received personal coaching sessions XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. The sessions were cancelled on XX/XX/XXXX, and XX/XX/XXXX. After reviewing the three sessions I had thus far, I phoned the company on XX/XX/XXXX to suspend my coaching, as I kept learning the same things. I was unable to obtain a funding loan to purchase and/or bid on properties because my debt to income ( DTI ) was too high. XXXX XXXX XX/XX/XXXXoften stated that income and/or credit history would not be a problem to obtain funding through their partners. However, I was unable to obtain funding because of those exact reasons. I took a break from the program for a while, with the presumption of getting back to it after a break from disappointments. 

On XX/XX/XXXX, a XX/XX/XXXX Representative came out to my area to provide the 2-day One on One mentorship. Again, this was a lot like the 3-day workshop, and 3-day fast start boot camp. I did not feel he provided much more than what I had already learned previously. 

On XX/XX/XXXX, I attended the XXXX XXXX XXXX Investor Summit. Again, a lot of the same information we had already heard. This time there were celebrities invited to tell us about their successes and how to be a successful XXXX  XXXX  XXXX. I also spoke with a ton of other participants who shared their frustration about receiving the same information and not seeing a profit. After this event, it was clear that without the proper funding, none of the skills that I had heard over and over again could be put into practice successfully. 

I decided to focus on paying back the more than {$57000.00} in credit card debt that I had acquired for me to pay for the XXXX XXXX and XXXX XXXX XXXX XXXX. I decided I would pay down the debt then pick up my XXXX XXXX XXXX coaching sessions and complete the trainings offered through the XXXX Program at a later time. 

On XX/XX/XXXX, I was informed by a XXXX XXXX XXXX Coach, that XXXX was out of business. I was informed that coaches could no longer fulfill their commitment of the coaching program. The company no longer exits and had been taken over by the government and I was advised to go to the website XXXX   for additional information ( attachment F ). 

Upon going to XXXX, I was advised to contact my credit card company to see the remedies available to me. At this time I am requesting a refund as I did not receive all of the services that were paid for. Also, as pointed out in the compliant, restraining order and Stipulated Preliminary Injunction Order, the company made false claims and unsubstantiated guarantees ( attachment G ). 

I only received 3 coaching sessions from the XXXX XXXX XXXX XXXX  that I will not be able to resume as previously thought because they can no longer provide the services. Further, I'm not sure how useful the coaching will/would have been as they say the same things over and over again. I should not have to pay for services I did not receive, nor services that aren't what they were advertised to be. 

Further, I did not complete all the services offered to me in the XXXX Program.  Further, the services that were offered were inadequate, false and misleading. I have yet to make any profit from the program and I will not be able to phone them for assistance as the company can no longer offer assistance. All that I have from this experience is a ton of credit card debt. 

I mailed to Fifth Third Bank, a dispute letter with attached documentation on XX/XX/XXXX. By XX/XX/XXXX, I hadn't heard anything from Fifth Third Bank, so I phoned ( XXXX ) and was told they had not received my dispute and told me I needed to file it by phone ( the representative said all disputes are filed by phone, they don't accept disputes by mail. ) I received a letter dated XX/XX/XXXX, requesting that I verify the dispute information ( case # XXXX ). On XX/XX/XXXX, I emailed back the one page asking me to verify the information I filed as a dispute. I then received a letter dated XX/XX/XXXX, which indicated a resolution had been reached. My dispute was denied because it was submitted outside of the time frame allowed. 

I phoned on XX/XX/XXXX, and spoke with XXXX who reopened my case and said it was closed because of the lack of information. I explained that only the one verification page was requested of me, never background information, but I told her that I could certainly send it. She advised that I send the additional information, which I emailed on XX/XX/XXXX. 

On XX/XX/XXXX, Fifth Third Bank again sent me a letter stating the dispute was denied because their research confirmed that the transaction was valid. On XX/XX/XXXX, I sent an email, requesting an appeal as I did not agree with Fifth Third Bank. Although the transaction was valid, it was misrepresented and not rendered, per the government seizure. 

I have yet to receive a response regarding my appeal ( email, mailed letter or phone call ).

Company response to consumer: Closed with explanation