Complaint / Review
Five Point Capital
Breach of contract, deceptive lending practices ripoff

I am selling a semi truck, that I have posted on the internet.

I was contacted by a would be buyer, We went thru the whole process and he stated he wanted the truck.
He went looking for finacing and chose Five Point Capital.

I was contacted by Jimmy Parkhill from Five Point Capital.

He stated the buyer had to fill out the contract, then I would be sent some paper work that I needed to fill out and have notarized and return to them. I was told by him verbally and in a documented email that when i returned these papers to them the deal was complete and i would receive my money in one to two days.

So I returned the paper work to them by fed ex, and quit my job I had pulling a brokers trailer.

Then two dayslater when I thought I would receive my money. I instead received a phone call from the buyer, stating he feels Five Point capital is getting him on a huge interest rate, and wants to pull out.

I contact Jimmy Parkhill, who knows that on the contract Five Point capital is listed as the buyer and the guy who would receive the truck is listed as lesse.

Jimmy says the lesse can still pull out because he needs to verbally athorize me getting paid.

This is a Five Point Capital method of saying hey if we pay you then we are now stuck with a truck with no lessee.

So I have filed complaints with the bbb of San Diego, also the Attorney Generals Office of California, and have retained a lawyer who said that Five Point Capital went into a contract and can not breach it.

As for know I still have the truck the truck payment the insurance payment and no job, because the broker had another driver lined up right after I left.