New News on Stormpay

[tthrill]

Originally Posted by Dreamaway

They didn't even ask me to respond to Stormpay's response, they said they automatically are pursuing a second chargeback, I asked what did SP reply with, they said, they didn't even note it on my account so they didn't beleive it was sufficient, but it bought SP extra time.

I was told that the bank's policy was to reverse the CB once they received any reply from the merchant even if it wasn't a good reply. What kind of advantage does SP gain by buying time?

[tthrill]

Originally Posted by jiminoregon

Remember the SEC says you did not purchase a membership...you made an investment.

Jim

OMG where does the SEC say this? Stormpay sent papers to my bank saying I bought membership from 12dp so my dispute was reversed. Where does the SEC say that? PLease please show me.

[countrytec]

it said in the TOS of 12dp you were "buying memberships" it was your "level of membership" by the amount of money you were willing to bet is the "membership"

AFTER the FBI invistigation, the SEC said it was an "investment" but you agreed to the TOS of 12dp and it said "membership" IMHO

[Lita]

I for one stand corrected C-tec. I thought I was buying advertisment (not in 12dp). But I still did not know it was an illegal activity to by a membership if that is what they called it.

[scarednvestor]

Tthrill I think Dreamway is making stuff up again, his name fits.


Fact is VISA actually doesn't have a 2nd chargeback it would go straight to prearbitration instead which stormpay would have to pay 400 upfront.... OOPS dreamway caught yah

[countrytec]

Originally Posted by Lita

I for one stand corrected C-tec. I thought I was buying advertisment (not in 12dp). But I still did not know it was an illegal activity to by a membership if that is what they called it.

I'm sure many didn't know it was "illegal activity" either but that doesn't lay the blame on your bank/plastic card carry the burden of your bad judgement on what you thought you were buying when in fact.............

99.9% of you knew it was a get rich quick progame, that is the ONLY reason you were using scampay...and scampay has the records of you doing it and who you sent your money to

[Lita]

Well you THINK 99% are doing CB's for money spent on AS'S.
I think most are doing CB's for other money's stolen by sp.

[countrytec]

Originally Posted by Lita

Well you THINK 99% are doing CB's for money spent on AS'S.
I think most are doing CB's for other money's stolen by sp.

that's fine

[iami]

Originally Posted by countrytec

it said in the TOS of 12dp you were "buying memberships" it was your "level of membership" by the amount of money you were willing to bet is the "membership"

AFTER the FBI invistigation, the SEC said it was an "investment" but you agreed to the TOS of 12dp and it said "membership" IMHO

IMO it can't work both ways. Either the TOS is valid and people did indeed buy "memberships" (advertising), or 12DP and it's TOS are proven to be illegal, and therefore "memberships" are "investments". It doesn't matter if people agreed to it before the court order was issued. If the program is considered to be illegal now .. then it was illegal then. Therefore, based on the program being deemed illegal in the eyes of the feds, the 12DP TOS is a worthless document, and was from the very beginning.

By the way, I didn't join 12dp - I lost my money with another equally ridiculous AS.

[jiminoregon]

Originally Posted by countrytec

it said in the TOS of 12dp you were "buying memberships" it was your "level of membership" by the amount of money you were willing to bet is the "membership"

AFTER the FBI invistigation, the SEC said it was an "investment" but you agreed to the TOS of 12dp and it said "membership" IMHO

You can't agree to an illegal TOS. If the SEC said these were investments not memberships...then that's what they are.

Jim