My husband purchased a credit card machine for a small convenience store. The salesman did not give him a lease or paperwork of any kind other than having him sign a paper saying that he agreed to make monthly payments. That paper turned out to be the front of the lease. He led me to believe that I would own the machine after term of lease for $600.00 (Not True) Machine was $1600.00
He said nothing about buying insurance for the equipment. When I questioned about the different terms that was told to me by my husband the salesman stated that he thought he was aware of this, because the business was already opened when he took over and the machine was already in the store but not active. I was told that I could not break the lease, because they claimed my husband signed a lease agreement.
I told them we left the machine in the store just like the previous operators did. Lease Finance harrassed me for months. Making statements about them wanting their money NOW.
I had forgotten about this, it happened in until now. I just started the process of refinancing and the banker told me about this being the only bad spot on my husbands credit. I could not figure out what it was until I looked up their name and address on the internet. I definately would like for this to be taken off our credit because it definately affects his credit rating. The company updates the account regular causing his beacon score to lower. These sales tactics need to be stopped.
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