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Global Shares

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Comments

  • Hi,

    I the exact same problem, my "program" is called GSI. Same deal with all the rubbish you get told over the phone and the home made looking product you recieve which does nothing other than take up all your time dribble money out of your pocket.
    With my package I recieved a "100% money back guarantee" if I didnt recoup the cost for the program (£4000 for me) in 13 months. This was compliant on me sending them monthly reports which I have been doing.

    I was just wondering if anyone has the same thing and if you have waited for the 13 months to be up and tried to get the money back then.

    Any response would be greatly appreciated

    THanks

    Morris
  • Hi, i bought the program and use it as a tool in my research, i would not rely on the program alone for investment decisions.
    I trade shares on a daily basis and have done for some years now, i use the global shares program as well as other research sources to help me in my decisions and have no complaints. (although the software looks very basic)

    I paid £1500 for the software not £4k and have more than recovered this amount in my trading.

    I have never needed to call global shares for support issues so i cant comment on the company itself.

    I would like to hear about how people have been using the software (settings used etc) so i can compare how i have not experienced the same problems.

    Regards
  • nrsql
    nrsql Posts: 1,919 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    lol - Associated with the company perchance?
  • No, not part of the company at all, or associated with it. You automatically assume that because im saying i dont feel the same way as you do.
    I run my own private fund management business, it makes no difference to me if anybody gets a refund or takes global shares to court or if they dont. I am simply giving my point of view, which is the purpose of forums is it not?

    I only said i would be interested to know how people were using the software. In particular anyone who used it over the last 12 months during the volatile market conditions we have seen. Anybody that would like to share please feel free.
  • gustavo1
    gustavo1 Posts: 10 Forumite
    Daka wrote: »
    Gustav

    You can try to get the refund from the CCC - I do advise you to notify them that you have a complaint in the first place.

    But the CCC will simply say that you have to try to first resolve this with GSL. I cannot speak for every CCC - but you could try to demonstrate to them that you have complained to GSL and have a record of phone calls and letters. They may (??) be sympathetic.

    There is no harm in trying.

    If you are asking - why don't we name the CCC in the complaint we are bringing to the small claims court using the online service?

    Then I can only speak from my experience - basically GSL will probably not bother to respond but the CCC will put in a standard defence of "there is no breach of contract and the claimant has not offered enough evidence" (or something like that).

    As soon as they do put in any defence - the court will not try to resolve this online and will switch to court proceedings. Which means you have to put in a much more detailed claim.

    Also in my court appearance the judge basically said that I should have just gone for just GSL in the first place.

    The strategy I am proposing is
    1 - try to ask the CCC if they will refund you
    2 - make a claim against GSL - they will probably not bother to respond
    3 - Get a judgement against GSL
    4 - Give them one last chance to pay up
    5 - Then go to the CCC with the judgement and proof that you have tried to get the money from GSL. Hold them jointly liable under Section 75 of The Consumer Credit Act 1974.

    As I said I can’t guarantee success – but only offer you what I have learned.

    Good luck

    Hi Daka,

    Thanks again for all your help and advice. It is very reassuring to know that I am not alone and that someone has successfully got their money back from GSL.

    Everything you have said so far has transpired. I did make a claim with my CCC under section 75 and I got the standard response ' Having evaluated the documentation provided, there is no proven case of a breach of contract or misrepresentation on the part of the supplier. Therefore it is with regret I inform you that we are unable to assist you further'.

    I have started a small claim online against GSL and they have until 12th May to respond. Nothing yet. So hopefully if they haven't responded by 12th I can get a judgement against them.

    If I do get a judgement against them, then presumably I can then use this to go back to the CCC?

    Besr Regards
  • Hi Daka

    I've read your post with interest.

    Unfortunately, I also got duped in to buying this garbage.

    My business is still ongoing but very briefly what has happened so far.

    I got fobbed off by GSL
    I made a section 75 complaint to CCC
    The CCC told me to prove that I had returned the goods.
    I returned the goods and forwarded the proof to CCC.
    They said they had to wait 30 days before trying to get me a refund.
    After the 30 days the CCC then decided they wanted "expert opinions in support of my claim."
    I said they should have said that in the 1st place if they needed expert opinions instead of promising to try and get a me a refund.
    Although my claim was always for misrepresentation the CCC rejected my complaint because "There is no evidence of a breach of contract."

    I din't go the small claims court route but complained to the Financial Ombudsman instead.
    They gave the CCC 8 weeks to give me a final written response and said that if I didn't get the response or wasn't satisfied to raise the complaint again.
    Once again the CCC rejected my complaint on the grounds of no proven breach of contract even though my claim was for misrepresentation.
    I advised the Ombudsman of my disatisfaction and disgust with the CCC.
    I received acknowledgment of my complaint and is is going through the due process.

    Hopefully, some good will come of my complaint and hopefully, I won't need to go the small claims route as well.

    I hope that this helps you or someone else.

    John
  • gustavo1
    gustavo1 Posts: 10 Forumite
    Hi John,

    I went down the small claims route and got a judgement against GSL. I the made a claim to the CCC under section 75 stating a breach of contract and misrepresentation. They have rejected it saying there is no proven case of breach of contract or misrepresentation despite the fact that I have a judgement against GSL from HMCS. After several letters arguing my case this is their final response to my complaint.

    I am going to get a solicitor to write to the CCC first and if that doesn't work I will refer it to the financial ombudsman. I am also going to enforce collection of the funds from GSL by a bailliff.

    Good Luck,

    Ed.
  • deano1964
    deano1964 Posts: 20 Forumite
    Let me know what happens Gustavo, please, as I have done exactly what you are doing and have judgement against GSL.

    When you say you are going to enforce the collection from GSL, do you mean you are going to get a warrant?

    I thought I read that someone else had tried that and GSL have moved?

    Thanks
    Dean
  • deano1964
    deano1964 Posts: 20 Forumite
    HI, Gustavo

    It was Stuart r who on the post above dated 20 Feb says:

    A warrant was issued and passed to Woolwich Court for serving on GSL, surprise surprise they are not at the address provided, I then went to the company register and obtained all the company information, this has been sent to the bailiffs office at Woolwich court,

    So, I was wondering if you thought it worth it to issue a warrant.

    thanks
    Dean
  • Daka_2
    Daka_2 Posts: 13 Forumite
    Hi,

    First of all I have good news (and hope for you). I have finally got the CCC to agree to pay up. That’s not as good as getting GSL to pay up but it is still a result.

    To Gustavo and JFK1955

    If you want ammunition against for CCC when they say there is no proven breach of contract or misrepresentation remind them of the following: (this is just one example of breach of contract)

    The product comprises not just the software but also the customer support. This has been repeated in the sales literature and in a letter from Global Shares (“the price includes not only the software package but full ongoing support”.)

    Global Shares claim that they “provide exceptional customer support” and a “complete service”; and that the program “comes with full expert ongoing support” (sales literature pages 10 and 19).

    These claims are simply untrue because you called customer service on several occasions to set up the product and ask a number of questions.

    You have tried to contact them on several occasions that they have simply ignored you.

    The most basic level of customer support should acknowledge when a customer raises a question, concern or complaint; enter into a meaningful dialogue and set in train a sensible support process.

    Global Shares do not even acknowledge your request for customer support let alone respond to it. Global Shares’ customer support process ignores the customer and any communications in the hope that the customer and the problem will just go away.

    The customer support provided by Global Shares was woefully inadequate; in fact it was non-existent. Global Shares did not provide “exceptional customer support” or the “full expert ongoing support” that they promised in the sales literature and letter. What they did provide does not qualify as customer support let alone exceptional customer support.

    You relied on the claims about ongoing support when you decided to purchase this product. Global Shares misled you and the services provided were not as described. Hence Global Shares are in breach of contract.

    Also take note that Stuart R (and Woolwich Court) tried to locate them at their address – that was a false address. If they cannot if found or located how can they provide any level of customer service.

    Hope that helps.

    Daka
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