In October I opened my small business and used Retriever of SW Florida as my credit card processor. I told the sales rep I was on month to month lease and was doing a temporary business. He told me I could not buy my processing equipment, but would have to lease. I filled out the bottom of the lease agreement which he explained to me would be for 2 years and that I could call the 1-800# to cancel. He took my check and said he would fill out the top using my bank information.
In December I called the company to cancel my services and was told that I had been entered into a 4 year non cancelable lease agreement with another company called Lease Finance Group. I contacted Lease Finance Group to let them know about the mistake and was sent a copy of the lease that showed the hand written 48 months in the top portion of my paperwork. This paperwork was not part of the folder the Retriever representative gave me and I was shocked to see the 48 month term and to find out that I was envolved with 2 seperate companies.
I wrote, called, and faxed the company begging to be put in touch with their legal department. I was always given the thier collection department in response, and received a letter stating it was not thier problem and that the machine was not really leased from them, but that they "loaned" me the money to operate the machine. That means they "loaned" me $2880 for the use of a $250 used machine. If that isn't USURY, what is?
Has anyone filed suit???
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