Please be sure to read my DISCLAIMER

 

Ray's plan is to incorporate and use corporate credit, protecting personal credit. In the infomercial, a couple of times (once with Ray, once a "student's") showed handfuls of Corporate Credit Cards, saying they (the students) were now worth boocoo bucks.

To be sure, much of what's said makes sense, and it MIGHT be worth more looking into doing it yourself, but with some of the negatives and costs I've seen on Ray's site, I can't afford to do it through him. We'll see... Maybe I'll do it myself!

The Infomercial

Hosted by David Willis, with testimonials given clients while Ray sits by them (very stiff-backed - almost a martial-arts posture); David returns to tell you more, then Ray is seen in a small part of the screen, telling you about what he offers; interviews are given by Karen Adler, including a corporate attorney named Harold Stokes, who says that if he didn't believe it worked and was legal, he wouldn't be there, putting his profession on the line. She also asks "prominent" CPA Advisor, Bob Jaffer, MBA, about why the average person should incorporate (benefits of incorporating), and he says, "For investment reasons; for tax savings; and for legal purposes ... almost any business that you do has an exposure dealing with the public, and anybody can sue you; and a corporation protects you in that fashion."

There's a place in the first half where people are telling about how much corporate credit they now have... In the online version and, I believe, the original, the last guy before the David Willis comes back in says "Ohhhh..." and applause starts, even before he says how much he has. I believe I've seen the infomercial lately, and the applause seems to have been edited out.

Some of the things the infomercial says incorporating can do for you are:

• Asset Protection, for yourself and your family
• Buy Real Estate under a corporation and not hurt your personal credit
• Become Debt-Free under the corporation
• Gain hundreds of tax write-offs
• Buy products at wholesale prices
• Buy cars at fleet pricing

Ray quotes:

• "Borrowed money isn't taxable".
• "I don't care if you have good credit or bad credit, my system will work for you."
• Claims that he will have his team build your first $5000 in corporate credit "absolutely free". (How hard is it to get a credit card, these days!? and, you apparently have to ASK how to get that $5000 Bonus Credit!)

They give Ray's bio on the infomercial and on the site. On the site, I don't quite understand why it's not in chronological order. Don't forget to see the picture of him performing the World's Highest Kick (apparently when he was winning one of his 12 National Kick Boxing titles). What any of that has to do with forming corporations, I haven't a clue, except that he was in a "tragic accident" at the age of eight, then did everything else.

If you haven't and would like to see at least most of the infomercial, it's on this page. (Remember, the full infomercial is a half-hour long... This one is the first third-to-half of it. As happens in many infomercials, they usually put a more "traditional" 1-2 minute commercial in the middle, then much of the first half is repeated in the second half, usually in a different order.   

The Product

Various plans and their pages are listed in the Product Websites section, below, as are the prices when reviewed in October 2006. Check out what each offers.

Even after purchasing a product, don't be surprised if the operator taking your order, or someone from the company who calls you in a few weeks, offers a seminar/boot-camp. Ray has a three-day Basic Boot Camp, pre-registering at $1999, but you can bring up to three (3) guests (non-clients) for FREE! He also has a three-day Expert Boot Camp pre-registering at $3999 (apparently, no non-clients allowed)!

Note: Each state has it's own rules for incorporating. In Indiana, see the following links (updated January 15, 2007):

• Secretary of State - Business Services Division
  • An Entrepreneur's Guide to Starting A Business in Indiana
    • Choosing a Structure and Forming Your Business [What type of entity should you be?] Explains the types allowed in Indiana. All cost a $90 Filing Fee.
      •  Informal Association
        • Sole Proprietorship
        • General Partnership
      • Formal Association
        • Corporation
        • S-Corporation
        • Limited Liability Company
        • Non-Profit Corporation
        • Limited Partnership
        • Limited Liability Partnership
    • Many other categories of information available on this page
    • Secretary of State - Finding the Correct Forms

I believe that Ray's plan is to incorporate you in a state that doesn't charge much, if anything. They will need the same information you would need to incorporate in your own state, that you should be able to find on your state's local government site. If you have Ray's group incorporate you, be sure it's YOUR information used, without anyone else as a partner, stockholder, whatever!

Product Websites

Following are links to what appear to be "main" sites for the product.

• http://www.repackagingamerica.com/ - original site/business/no longer a RR site that I can tell
• Ray Reynolds University
• http://www.justaskray.com/ (apparently 3-minute Sirius Radio "shows"
  • (go to http://www.itsonsirius.net/ and search for "Ray Reynolds")
• www.rayreynolds.biz and www.rayreynolds.com have the same pages:
  • Welcome to Ray Reynolds Plan (site reviewed October, 2006)
    • TV Special page (http://www.therayreynoldsplan.com/htm/TVSpecial.php) lists RR Starter Plan A (infomercial plan - $39); RR Starter Plan B ($299); RR Advanced Plan ($499); RR Professional Plan ($999); RR Expert Plan ($1699); and RR Masters Founders Kit ($1999).
    • New Products page (http://rayreynoldsplan.com/cart/products_new.php) lists: 4 pages, including RR Starter Plan A ($39); RR Starter Plan B ($299); RR Advanced Plan ($499); RR Professional Plan ($999); RR Expert Plan ($1699); RR Masters Founders Kit ($1999); (<== all added May, 2006) / (Coming Soon) Millionaire's Founders Kit ($2999) and (Coming Soon) Billinaire's Founders Kit ($4999) (<== added Jan, 2006) / Other Plans, Boot Camps and Clubs (prices from $39 - another(?) Starter Kit - through $9999 -Millionaire's Club and Fast Track), various "Modules" & "Turn Key"s, and many other books and kits (added June-Dec 2005 - why still in the NEW product list?)
    • HOWEVER, Products/RR Store page (http://rayreynoldsplan.com/cart/index.php?cPath=21) only lists: RR Starter Plan ($299), RR Advanced Plan ($499), RR Professional Plan ($999), and RR Expert Plan ($1699). Sidebar showed "Coming Soon" Billionaires Founder Kit ($4999).
      
      (NOTE: All of the above-listed kit names and prices are as of 06/05/2006)

  Questions about Ray Reynolds Plan sites:

  1. What's so "special" about the TV page items, other than items in each kit are listed without going to another page?
  2. Why do "new" products still list items added in 2005?
  3. What's really "different" about the items added to the "new" page in May, 2006?
  4. On his Bio page, why is it not in chronological order? (2nd paragraph says "At the amazing age of just eleven, Ray Reynolds started his first successful business.", then 3rd paragraph says "At the age of eight, Ray Reynolds was in a tragic accident. In a matter of months he overcame terrific odds. He later went on to become a world class athlete with 12 National Kick Boxing titles. He also holds the record for highest kick--a record that has not been broken as of yet.")
  5. With no info about the "tragic accident" and the "terrific odds" he overcame, what does being a world-class athlete with Kick Boxing titles and the record for the highest kick have to do with anything other than vanity and (peripherally) the statement in the last paragraph about having "sought and achieved excellence throughout his life"? And what does any of this have to do with business?
      
• (Colorado Springs, CO) BBB - Ray Reynolds Enterprises - Company Report (on Ray Reynolds Enterprises) Note: Original [BBB] Record Open Date: 10/28/05
• LA (California) - Incorporating You, Inc. (Ray Reynolds Enterprises, Inc.) Company Report (Summary)

• LA (California) - Incorporating You, Inc. (Ray Reynolds Enterprises, Inc.) - Company Report (Details)

  

  We strongly question the company’s reliability for reasons such as that they have failed to respond to complaints, their advertising is grossly misleading, they are not in compliance with the law’s licensing or registration requirements, their complaints contain especially serious allegations, or the company’s industry is known for its fraudulent business practices.

  [July 18, 2006 - Source: LABBB (see above) -BS]

  Other DBAs: Incorporating You, Inc.; O B I Financial Corporation; Ray Reynolds Enterprises, Inc.; Repackaging America, Inc.; S M A S I; Service Maintenance Awareness Systems Inc.; The Ray Reynolds Plan & Associates; The Ray Reynolds Plan; Ray Reynolds & Associates.
  
  See also:

  • BBB Comments and Analysis
  • Complaint Closing Statistics
  • Complaint Experience
  • Government Actions
  • Advertising Review
  • Other Considerations

Reviews and Warnings

This section lists the sites where I found "negative" comments about the people and company, and/or the product. Some of the terms "sham", "scam", "scams", "flim-flam", "complain", "complaints", "rip", "rip-off", "fraud", "warning", similar words, and maybe just "review" were used in searching for negative comments.

 

• INFOMERCIAL RATINGS.COM - RAY REYNOLDS PLAN REVIEW
• Credit Repair Tools - Ray Reynolds Your Quest Reviews Learn to Work From Home ($$) Very positive review
• FamGuardian - Ray Reynolds Plan Commentary
• Rip-off Report.com - badbusinessbureau.com - Ray Reynolds (search results for "Ray Reynolds")
• A Ray Of Hope 4U Corporation | Build Corporate Credit | Online Incorporation | - Testimonials ($$ - selling their own ebook, but... )
• Why Incorporate In Nevada? ($$ - selling own seminars for Incorporating in NV)
• RipOffReport - Ray Reynolds (4 entries for RR - as of 06/07/2006)

News Articles

• None found

Legal Problems

•  None found
   

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