Productstreaminternational.com - How can I get my money back?

globalwb

I order products from Product Stream international about 4 weeks ago. Their website is Link hidden: Login to view. I transferred a lot of money because they existed. You could find them on Alibaba and Tradekey. They are even registered as a legal business in Atlanta Georgia.

I wired the money into their Company bank account

But today I got a email from them that they got bankrupt. Here is their email:

September 28, 2007

Attention Customers

Do to the substantial financial losses our company has indured in the

recent months, regretfully Product Stream International will cease

operations and will immediately puusue all options including liquidation

and bankruptcy to stem losses. For all customers who have placed orders

but not have paid, all invoices will be null and void. For all

customers who have placed orders and prepaid for those orders, we will

be be in contact through bankruptcy attorneys and or liquidation

trustee. We regret any inconvenience this may cause.

thanks

How can I get my money back? Im living outside the USA.

Or is there no chance?

planes

I'm not an attorney but from what I know the creditors come first.

After everything has been added up, the money goes to the creditors. Banks, suppliers other creditors get theirs first. Then on down the line. You will have to stay on top of this and if they do file the big B you will probably get a notice.

In the meantime, you should file a small claims case against them if your amount is under the states limit. That way, if they are pulling a fast one and are just ripping everyone off you will have a suit won against them.

If it is a very substantial amount of money you may want to contact an attorney.

If its under 500$ you might want to chalk it off as a loss and write it off your taxes.

Again, I'm no attorney so take this advice lightly.

globalwb

thanks plane,

I reported to the Atlanta Police and filled a report at ic3.gov

Hope to get my money back. It's over $5500

If their money refunding stops and I didn't get anything can I still fill in a law suit against them? And are there others ways?

planes

Again take my advice lightly as I am not an attorney.

Send them a certified letter requesting a 'definite' time frame with date of refund. Also, inform them if they had ceased their business or if they made arrangements to cease their business and excepted your money, you will make it known to the proper authorities.

This could force them to put you at the top of the list as that could be seen as fraud and could have criminal implications. Very hard to prove but what the heck.

Hopefully their site info is still available on a whois site. Try to get names and phone numbers.

Personally, at 5000 I would sit down with an attorney and pay them a couple hundred bucks to pick their minds and have them explain the exact steps to take for a half hour or so.

The bad news is your not going to ever see the full 5000. You may not ever see a dime.

I would look at seeing how you can offset your taxes. Maybe you can use the retail loss to your business instead of just the wholesale loss to right off from you taxes.

planes

No offense, but why did you drop so much money on a company in another country without a test run. Please, in the future, I would ask around first. Jimmy does a great job at screening cos. He may have even refused this company in the past from posting here and been able to let you know.

I know people drop a lot of coin on foreign companies here but they have this site to back them and they do a test run first.

Except your loss write if off as best as you can and move on.

gulfy13

You should read these letters listed as complaints on this fake company..view them at:

Link hidden: Login to view

It was a fake company, there is no company by this name registered in the state of georgia,,the bank accounts are fake as well, the wire transfers actually route to an overseas account...

Most of the contact information is fake,,as a matter of fact one seller said that when he called the listed phone number he got the sellers wife a their home..

You need to go to that url right now and read what all it says and try to get in contact with some of those people who were scammed and see what they are doing..More than likely there never was an actual business, he was just taking orders and receiving the money to an overseas account, then started getting heat so shut down the site..Plus the site had no info about it on 5 major search engines when it was still operating...

globalwb

It was a fake company, there is no company by this name registered in the state of georgia,,the bank accounts are fake as well, the wire transfers actually route to an overseas account...
Most of the contact information is fake,,as a matter of fact one seller said that when he called the listed phone number he got the sellers wife a their home..
You need to go to that url right now and read what all it says and try to get in contact with some of those people who were scammed and see what they are doing..More than likely there never was an actual business, he was just taking orders and receiving the money to an overseas account, then started getting heat so shut down the site..Plus the site had no info about it on 5 major search engines when it was still operating...

I'm new to salehoo.

But both sites are working. Link hidden: Login to view and Link hidden: Login to view.

This is an expensive lesson for me. I reseached them before doing business. I found them in Yellowpages of USA. And transfered the money into bank of America. They have a company name account and their company is also registered in Georgia at the bank account.

I think they exist in Georgia. USA also have a lot of scammers. And it's very easy to register a LTD or L.C.C company there.

wholesalelist101

Never wire money to anyone that you do not know. I hate to say this but chances are very good that you will never get your money back.

fm1234

I have business in Atlanta early next monht; if you want to give me the address I'll swing by and see what's actually there.

Frank

globalwb

I have business in Atlanta early next monht; if you want to give me the address I'll swing by and see what's actually there.
Frank

Product Stream International L.L.C.

2265 Roswell Rd., Suite 100

Marietta, GA 30062

(Office) 877-763-3925

(Fax) 843--763-3926

Hi,

This is their company adress. Thanks for your help.

If you know something let me know !

jimmy_huber

Product Stream International L.L.C.
2265 Roswell Rd., Suite 100
Marietta, GA 30062
(Office) 877-763-3925
(Fax) 843--763-3926
Hi,
This is their company adress. Thanks for your help.
If you know something let me know !

Smells like crap to me because that exact address is registered to:

Baumann & Associates, Inc. 2265 Roswell Road, Ste. 100 Marietta, GA 30062 (770) 509-2237 (phone) (770) 509-2238 (fax) Link hidden: Login to view ...

Notice the difference in the Phone numbers? Any scammer can get a 877 number which is a toll free number.

the 843 fax number is registered for South Carolina, coastal area: Charleston, Beaufort, Myrtle Beach area. So when you have a phone number that doesnt match with a business location and a address thats listed under a totally different company you have to ask yourself. Should I send this person my money.

You really should have asked me first :

jimmy_huber

Also just to warn you when a company has thier details listed as a suite. Id be a little suspicious because a suite is not large enough for a retail location or even a warehouse. Most attourneys and doctors offices are located in suites. Not companies that sell products online. Anyone that has to buy sell and store products would have a warehouse. And thier offices would be in the warehouses.

wholesalejoe

Sad but the money is gone. Its not enough to chase legally. You can waste time, energy and emotions chasing it but suck it up and let it go as lesson learned. In the future buy small build a relationship and dont go home run orders out the door. You can always go and visit any vendor when the order is large .... Called cash and carry.... Dont order big until you know weverything is golden... Use escrow or credit card for best protection. Sorry but the money is gone if they are closed and filing...

SaleHoo Directory

SaleHoo Dropship

SaleHoo Educate

SaleHoo Market Insights NEW