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Anybody heard of CWL
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How are they backing up their guarantee? What organisation covers your money. I would imagine most people on this forum would run a mile from this sort of set up which is why you cannot find people posting about it. Personally I would not touch it.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
The 365 Day 1p Challenge 2025 #1 £667.95/£391.55
Save £12k in 2025 #1 £12000/£120000 -
runwaychris wrote: »I am expecting a phone call from them on Monday.....Cheers
Don't answer it.0 -
At the moment their guarantee is in the form of a word document:
If you do not achieve a profit equal to the acquisition cost of the program within 12 months of trading with an initial starting capital of £2,000.00, you will receive a full refund of the purchase price.
The conditions are that I send trading report as proof.0 -
Any firm cold calling you or 'making promises' aren't legitimate.
AVOID"If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett
Save £12k in 2025 - #024 £1,450 / £15,000 (9%)0 -
It's possible to set up a company in the UK in minutes.
That company can then issue any "guarantees" it likes, but if all the investors' money has been spent on directors salaries and there is nothing left, the company will simply end up in administration and you will get nothing.
A guarantee is only as worthwhile as the ability of the company issuing it to pay out.We need the earth for food, water, and shelter.
The earth needs us for nothing.
The earth does not belong to us.
We belong to the Earth0 -
At the moment their guarantee is in the form of a word document:
So, absolutely no guarantee at all then.
In regulated financial services, guarantee has to be backed up with cash or near cash assets. Otherwise the word guarantee cannot be used. In unregulated investments and most other walks of life, guarantee is not guaranteed. The seller can close their company and have no liability for the guarantee. Frequently what you see is the selling/promotion companies trade for a short period and then close down and start up again as a new legal entity with no liability for anything the previous legal entities "promised".
They cannot deliver on their promise. It is entirely foolish to believe what they are saying. They are looking for mugs who are easily sold to.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thank you all0
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Reminds me of a little episode with a customer of mine once.
He needed something by the close of business that day. I checked with my supplier - they had some of the item in stock and allocated one to me for my customer, scheduled for delivery to me that afternoon.
"Can you absolutely guarantee it will be here?" asked my customer.
"All I can say is that it is there (at the depot) now and will be on it's way to me very shortly. We can safely say that all concerned can be fully confident it will be here later."
"But can you guarantee it?"
"Do you mean can I promise you with one hundred percent certainty - rather than 99.5% - that it will arrive?"
"Yes."
"Well then no, I can't. There is always a tiny possibility of the driver becomming ill, going nuts, being arrested. Of breakdowns, earthquakes, alien invasions, of time itself ceasing to exist..."
My customer thought for a moment and then left.
Later, he rang me to thank me for my trouble but also to tell me he had decided instead to use a rival business (who used the same supplier as me...) because that person told him he COULD guarantee it.
Guarantees, hey...? Easy as that.I am one of the Dogs of the Index.0 -
runwaychris wrote: »Thank you all
Chris, runaway.0 -
I have looked at the press releases and they seem to be written by CWL "National Ops Manager" John Matthews or Peter Matthews depending on which one you read. Either way hardly independant.0
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