Student Loses R$27,000 After Exchange Agency Goes Bankrupt

By Iolanda Fonseca

RIO DE JANEIRO, BRAZIL – The “Time2 Travel” exchange agency, which ended its activities without offering any explanation to its clients, has now said it set up a containment team seeking to minimize losses and resume activities. Residents of Bauru and Sorocaba (SP) are among those affected.

A student from Bauru (SP) lost R$27,000 (US$6.750) when trying to fulfill his dream of studying in Ireland. The person, who wishes to remain anonymous, invested the money in a package from the agency

The company published a statement on its social networks saying that it was closing its activities “due to financial hardship” and that it would do its best to avoid undermining students. Exchange packages are on offer on the agency’s website for countries such as Ireland, Australia, and Italy.

In addition to the school course in Ireland, the student purchased airline tickets and an amount of euros. His girlfriend also bought tickets with the company. The two would have boarded a flight to Ireland in September.

“I emailed the school in Ireland, and the payment was not made, my place is not guaranteed,” he says.

“I’m lost, I don’t know what to do. I’ve put much effort into that money, I’ve worked hard. This money wasn’t just for traveling; it would make a dream come true,” he says.

Another student from Bauru says she spent about R$11,000 with Time2 Travel. She paid for the course at a school in Ireland and lost her investment.

According to her, the consultants were unable to report what happened but stated that approximately 955 students were affected.

“I don’t have any more money. I invested all my money in this, and they don’t get in touch with me, they provide no explanation,” she says.

A student from Sorocaba (SP) was also affected. Earlier this year, she bought an exchange program package from the company, which included school and accommodation. She says she has paid six installments and lost approximately R$7,000.

According to the young woman, who preferred to remain anonymous, consultants and agency employees told her that a business partner in Ireland had embezzled the company, and this has been reflected in the contracts in Brazil.

Adriana Aparecida da Silva, a 30-year-old from Sorocaba, who was due to leave for Ireland in October, says she invested around R$10,000.

She explained to G1 that the first invoice contained the company’s name, but the second was in the name of an individual, who may have been in charge of the agency in Brazil. She queried Time2 Travel, who said that was their standard procedure.

However, on Thursday, June 20th, she received an e-mail from the school in Ireland saying that she had not been enrolled and that they would contact her by the following Monday, June 24th, to discuss what they could do to help.

The affected students have created several conversation groups and are helping each other in any way they can. Students who are already in Ireland are offering their homes and accommodation to those who will still travel to the country.

G1 got in touch with Time2 Travel but failed to obtain a reply by the time this report was published. Students who sent e-mails to the company have also had no feedback.

In a new statement published on social networks on Wednesday, June 19th, the agency apologized to students and claimed that the support team is failing to answer all their e-mails and phone calls.

The statement further states that the company is providing a direct negotiating channel and that it has set up a containment team attempting to minimize damages and resume activities.

(Source: G1)