How long would you wait.....
Thread Starter
Safety Car
Joined: Aug 2004
Posts: 4,734
Likes: 232
From: Youngstown Ohio
How long would you wait.....
for a core refund before getting impatient? 
I was told almost two weeks ago that the refund was processed, the date would have been 1-3-08. Last week I talked to the seller and he said it was done, he has a conformation number, but he was having issues with the company he runs his credit card business through, whatever that means. 
I can tell ya this, his CC company had no problem charging my account, happened the day I called in the order and didn't deliver the goods for three months, not the sellers fault but the supplier they were getting the item from.
So, do you think I'm a bit to quick to get frustrated or what?
Thanks for letting me vent,
Pat
I was told almost two weeks ago that the refund was processed, the date would have been 1-3-08. Last week I talked to the seller and he said it was done, he has a conformation number, but he was having issues with the company he runs his credit card business through, whatever that means. I can tell ya this, his CC company had no problem charging my account, happened the day I called in the order and didn't deliver the goods for three months, not the sellers fault but the supplier they were getting the item from. So, do you think I'm a bit to quick to get frustrated or what?
Thanks for letting me vent,
Pat
Last edited by Darion; Jan 16, 2008 at 02:30 PM.
Race Director
Joined: May 2005
Posts: 15,960
Likes: 21
From: West Norriton PA
St. Jude Donor '08
for a core refund before getting impatient? I was told almost two weeks ago that the refund was processed, the date would have been 1-3-08. Last week I talked to the seller and he said it was done, he has a conformation number, but he was having issues with the company he runs his credit card business through, whatever that means. I can tell ya this, his CC company had no problem charging my account, happened the day I called in the order and didn't deliver the goods for three months.
So, I'm I a bit to quick to get frustrated or what?
Thanks for letting me vent,
Pat
I was told almost two weeks ago that the refund was processed, the date would have been 1-3-08. Last week I talked to the seller and he said it was done, he has a conformation number, but he was having issues with the company he runs his credit card business through, whatever that means. I can tell ya this, his CC company had no problem charging my account, happened the day I called in the order and didn't deliver the goods for three months. So, I'm I a bit to quick to get frustrated or what?
Thanks for letting me vent,
Pat
That's because they are using you as a float. Had the same problem with an ebay merchant. Call them and tell them you are going to call the credit card company if they don't issue you a credit immediately.
If they don't do it call the credit card company and dispute the charge. I would not use them again if you have to go thru all of this hassle.
Melting Slicks
Joined: Dec 2005
Posts: 2,291
Likes: 0
From: sterling ct
any one who thinks that 500-700 dollars for a core charge that is "being floated" makes a company revenue is out of their minds. business bank accounts dont pay sh*t, i own a mortgage company and a title company and if your lucky you make 2% on your money..so think....lets suppose this company has 100 people who they owe 600 for core charges and they keep the money in a 2% account...it takes them 8 weeks to return the money what did they make?? a whopping 200 bucks...of which 35% +_ goes to taxes so they net out $130 big fd....they will be BK before long if this is a source of revenue
Race Director
Joined: May 2005
Posts: 15,960
Likes: 21
From: West Norriton PA
St. Jude Donor '08
any one who thinks that 500-700 dollars for a core charge that is "being floated" makes a company revenue is out of their minds. business bank accounts dont pay sh*t, i own a mortgage company and a title company and if your lucky you make 2% on your money..so think....lets suppose this company has 100 people who they owe 600 for core charges and they keep the money in a 2% account...it takes them 8 weeks to return the money what did they make?? a whopping 200 bucks...of which 35% +_ goes to taxes so they net out $130 big fd....they will be BK before long if this is a source of revenue
Cash strap companies are getting free use of someone else's money, I guess you missed the point.
BTW, I am a CPA and I work in the capital and financial services market for banks and commercial lenders.
Thread Starter
Safety Car
Joined: Aug 2004
Posts: 4,734
Likes: 232
From: Youngstown Ohio
Pat
Thread Starter
Safety Car
Joined: Aug 2004
Posts: 4,734
Likes: 232
From: Youngstown Ohio
Pat
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Race Director
Joined: Apr 2005
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From: Wesley Chapel, FL Las Vegas, NV
It's not the revenue it makes them it's the use of their funds to support their business.
Cash strap companies are getting free use of someone else's money, I guess you missed the point.
BTW, I am a CPA and I work in the capital and financial services market for banks and commercial lenders.
Cash strap companies are getting free use of someone else's money, I guess you missed the point.
BTW, I am a CPA and I work in the capital and financial services market for banks and commercial lenders.
They cash flowing with your $$$$.
lets suppose this company has 100 people who they owe 600 for core charges and they keep the money in a 2% account
Burning Brakes
Joined: Aug 2006
Posts: 1,170
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From: BROOKLYN PARK MN
Right now I'm not ready to make public who the vendor is, I will give it a few days to resolve. If by the end of business Friday this is not resolved I will make public which vendor it is. I have been trying to give them every opportunity to make this right but it is getting difficult. I called this morning and was told I would get a call back from the owner but that was 4hrs ago and no call. This sould come as no surprise since call backs haven't exactly happened to this point.
Pat
Pat
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Safety Car
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From: Youngstown Ohio
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IMO, you've waited long enough. Time to get your CC company involved.
Pro
Joined: Sep 2006
Posts: 577
Likes: 0
From: Southern California
It's not the revenue it makes them it's the use of their funds to support their business.
Cash strap companies are getting free use of someone else's money, I guess you missed the point.
BTW, I am a CPA and I work in the capital and financial services market for banks and commercial lenders.
Cash strap companies are getting free use of someone else's money, I guess you missed the point.
BTW, I am a CPA and I work in the capital and financial services market for banks and commercial lenders.
I am not quite a CPA yet (I sit for Financial on 2/9/2008) but I know business and this is not a good way to run a business and it sounds like the biz holding onto the core refund is suffering.
Race Director
Joined: May 2005
Posts: 15,960
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From: West Norriton PA
St. Jude Donor '08
Sorry about the hijack. I argue this point with people all the time when they say they put a deposit on a car that isn't even in a dealers allocation yet. (ie ... 2009 ZR1) they are using your cash to pay their electric bill.
I am not quite a CPA yet (I sit for Financial on 2/9/2008) but I know business and this is not a good way to run a business and it sounds like the biz holding onto the core refund is suffering.
I am not quite a CPA yet (I sit for Financial on 2/9/2008) but I know business and this is not a good way to run a business and it sounds like the biz holding onto the core refund is suffering.
Well I'm glad you understand the issue. I passed in November of 1989 when it was all manually done and the test was given over a 2 1/2 day period. Had to get 50% on two parts and at least a 50% on the other parts or else you got nothing.
I know the rules are a little lacker today, but really haven't followed the new stuff much.
Good luck on the exam.
Team Owner
Joined: Mar 2001
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From: small town in S.E Pa. PA
St. Jude Donor '03-'04
Seen this many times, first clue is they charge your credit card immediately, and deliver the goods weeks or months later... that would have thrown a flag... unless they told you that upfront... under no circumstances should a reputable business charge you anything before the goods are shipped.. not returning your core deposit only means that they do not have the funds to return to you. Tomorrow, they may be out of business, so I suggest you get your credit card involved today..
There is no such thing as having trouble with your credit card account... they either have the funds in their account or they dont...
If I used an account and I told them to pay ( return your core deposit ) and they didn't I would change banks... its very simple to see what is going on here... I would set up an appointment at a tattoo parlor and see if you can get "Victim" tattooed on your forehead.....
To answer your question about how long to wait.... About as long as it took them to charge your account. Not a day longer
There is no such thing as having trouble with your credit card account... they either have the funds in their account or they dont...
If I used an account and I told them to pay ( return your core deposit ) and they didn't I would change banks... its very simple to see what is going on here... I would set up an appointment at a tattoo parlor and see if you can get "Victim" tattooed on your forehead.....
To answer your question about how long to wait.... About as long as it took them to charge your account. Not a day longer
Last edited by Evil-Twin; Jan 17, 2008 at 08:10 AM. Reason: added
Race Director
Joined: Apr 2005
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From: Wesley Chapel, FL Las Vegas, NV
Thread Starter
Safety Car
Joined: Aug 2004
Posts: 4,734
Likes: 232
From: Youngstown Ohio
Seen this many times, first clue is they charge your credit card immediately, and deliver the goods weeks or months later... that would have thrown a flag... unless they told you that upfront... under no circumstances should a reputable business charge you anything before the goods are shipped.. not returning your core deposit only means that they do not have the funds to return to you. Tomorrow, they may be out of business, so I suggest you get your credit card involved today..
There is no such thing as having trouble with your credit card account... they either have the funds in their account or they dont...
If I used an account and I told them to pay ( return your core deposit ) and they didn't I would change banks... its very simple to see what is going on here... I would set up an appointment at a tattoo parlor and see if you can get "Victim" tattooed on your forehead.....
To answer your question about how long to wait.... About as long as it took them to charge your account. Not a day longer
There is no such thing as having trouble with your credit card account... they either have the funds in their account or they dont...
If I used an account and I told them to pay ( return your core deposit ) and they didn't I would change banks... its very simple to see what is going on here... I would set up an appointment at a tattoo parlor and see if you can get "Victim" tattooed on your forehead.....
To answer your question about how long to wait.... About as long as it took them to charge your account. Not a day longer
oh ya, Evil-Twin, I have read alot of your posts over the years but this statement wasn't really necessary "I would set up an appointment at a tattoo parlor and see if you can get "Victim" tattooed on your forehead....." although I did get a bit of a laugh out of it.
I get the message and all I have done is try to be fair about this and take the companies word on whats going on, that was my mistake.:o Pat