Sample letter to claim a refund from KnowledgetoAction's Trader's University

Make sure that you visit our main posting on the KnowledgetoAction share trading course

We have received some email asking us about a sample letter that can be sent to Greg Secker's Knowledgetoaction Trader's University to cancel your stock trading course and claim a refund. It is important that you cancel your trader's university stock trading course within 1 week of signing up (usually at the knowledgetoaction seminar). Below is letter that you could send:

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To: Knowledgetoaction (their address is on your invoice)

Dear Sir/Madam,

 

            On the day/month/year I attended one of your free 2-hour seminars at a hotel in TOWN. After a rather hyped presentation from a good speaker, I was persuaded to sign up for your 2-day course and to pay £2,348.46 by one of your salesmen. I filled in my credit card details and signed in the box where it said “Payment Method”. I was not informed of my rights to cancel my trader's university course, nor was I informed there would be a penalty for doing so.

            I have changed my mind and decided I would like to cancel the course. I telephoned the salesperson on day/month/year to tell him I would like to cancel. He told me that he would take care of it. I found out that the salesperson had in fact ignored my request for cancellation, and enrolled me anyway. I then sent you an email to cancel, and you acknowledged receipt of my cancellation on the day/month/year but you claimed that you would be keeping a non-refundable £500.  

            As the sale was concluded away from your business premises, I am entitled to a cooling off period of 7 working days. You acknowledged receipt of my cancellation notice within this time, and as such you must comply and refund the full amount of £2,348.46 to my credit card within 7 days. You are not entitled to keeping any part of my payment.

 Yours faithfully,

Bob the share trader

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Make sure that you send this to knowledgetoaction by RECORDED DELIVERY this will ensure that you get a refund and are not scammed.

If you do leave it more than 1 week before cancelling your stock trading course, you could still give this letter a try. By not informing you of your rights to cancel your trading course, "Knowledge to action" are clearly in the wrong - this is something they MUST do. I would think that this is a reasonable argument for a late cancellation to be accepted.

What a shame that trader's university should operate such an operation.

Make sure that you visit our main posting on the KnowledgetoAction share trading course

Get your refund from KnowledgetoAction's Trader's University

Make sure that you visit our main posting on the KnowledgetoAction share trading course

If you have signed up to Greg Secker's Trader's University (KnowledgetoAction organise "free seminars" to entice you to join the course), then you might not have noticed the small print on the back of your invoice that says you will lose £500 if you cancel.

This smallprint is illegal. KnowledgetoAction are not allowed to keep your money if you cancel within 7 days, as their sale was done "away from their usual premises" and as such qualifies as distance-selling, giving you the right to cancel within 7 days.

From our experience, and the comments left on this blog, KnowledgetoAction will ignore the law unless you send them a letter by RECORDED DELIVERY asking for an immediate full refund. Those who sent a letter by recorded delivery received a refund for the trader's university course THE VERY NEXT DAY!

Please let us know your experience in a comment, to help others in the same situation!

Make sure that you visit our main posting on the KnowledgetoAction share trading course