Before you buy RESP from Private Companies, Read this.
**** For NEW mother and NEW immigrant *******
HI ALL,
I am my self VICTIM ..i am not AGENT or BROKER or LAWYER of any company ...just ALERT and help thouse new immigrant and new mother ...stop to be part of this SCAM...

IF you are new MOM or NEW immigrant with small kids ..Right away you will approached by phone from company and your fellow countryman(agents) will try to call you and push you like CRAZY with lot of references..to BUY RESP plan for your kids.from them...as they are your fellow countryman or family friend you TRUST them as well stay in obligation by their so called help....
JUST ..SAY NO.....and if needed kick their back ... don't allow them in to your home for RESP Discuess...

********** What they promise you ******
- The return(money) they saw you on statement after what you will get after 17 years... are completely FAKE and fabricated !! YOU WILL NEVER GET THAT !!!

- they will tell ,you will get ALL money togather regardless your kid go for university or not .. WHITE LIE NEVER GONNA HAPPAND

******** What will happand **********

- after 17 years of invest your hard earned money whan your time to get money ....what you will get ..after 17 years of TRUST

- your principle + Govt grant + interest on Grant - (their ADMIN fee )
they never tell this ADMIN fee or they explain very very low at a time of purchase...

- ADMIN FEE - if you start your kids plan by born (o years) with 150/month at age of 17 you will pay ADMIN FEE to them $8000 ( eight thousand ) atleast ...yesssss..5% more or less according how big crooks company it is !!

- The big figure in EAP will start to decrease gradually when your plan reach half way.(This is not GOVT. grant and completely control by them so after 17 years what figure they want they give you ..if you are lucky )

- in statement their is TWO box(with tiny * barely you can see star ) that number called ...Discretionary payment ..IS NOT GUARANTEED...means it is ..0..

************** WHAT IS RIGHT **************
- start your RESP with BANK ONLY BANK ONLY..BANK....
- ANY BANK WHAT YOU LIKE YOUR CHOICE !! BUT BANK

***** WHAT TO DO once you are VICTIM like ME *********
Sorry you can't do anything...if you try to do what ever..you will loose money one or other way... so sorry....i am in same boat

***** WHY I AM DOING ********
- OUR LOT OF DESI, COUPLE WORK VERY HARD $10/hr , IN HOPE THAT THEY WILL GET GOOD MONEY AFTER 17 YEARS FOR THEIR KID'S BETTER EDUCATION.BUT THEY ARE IN BIG TROUBLE OF LOOSING MONEY...
- I am VICTIM and i know this SCAM is on going very large SCALE BY OUR FELLOW COUNTRY MAN...
- i have no reason to waste my time to write this LONGG msg.
- From my This STUPIDTY (RESP from private fund) !! if i can save few family ..My purpose is served
-Please help me to spread this msg. as many as people specially new mom and new immigrant ..to aware of this SCAM.
- ALL PRIVATE COMPANY ARE SAME SO I DIDN'T WRITE ANY NAME...BUT APPLICABLE TO ALL ..

**Specially south asian community in scarborough / brampton / because we TRUST our countryman that TRUST is put us DOWN**

**** IF YOUR RESP IS NOT WITH BANK** YOU ARE VICTIM***

Please use proper paragraphs and punctuations and proper English.

Can't even make out what's written

Its a RESP scam..so name the company and the person who scammed you in a precise and concise manner.

Don't just ramble.

* IF YOUR RESP IS NOT WITH BANK** YOU ARE VICTIM*

I think those words are powerful.

Whenever there is a free addon by the Govt. immediately there are private sharks who come to eat up your savings, eating more than what the Govt. gives you.

Same as employment agencies, these give businesses to people and brokers of RESP. Care to be taken by the immigrants to understand all the intricacies and if in doubt, just invest the RESP in the banks, where the return are lower, but atleast you donot get cheated !!

Murali

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I am a Gents and not a Ladies.

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Originally posted by adamthorat

Please use proper paragraphs and punctuation and proper English.

Can't even make out what's written

Its a RESP scam..so name the company and the person who scammed you in a precise and concise manner.

Don't just ramble.

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