My mother signed a lease with these people. First I usually read everything before she signs her name to anything for her little restaurant. Why because she can not read English and can barely speak English. When she signed the lease she asked the rep that if the business failed can she just return the machine and not make further payments. She asked this because business wasnt great. The rep who spoke Spanish told her that if the business failed to just return the machine and that would be it. There were 2 reps and they put the hard sell on her and she signed a contract that was in English that the rep filed out for her. She told them that I formed a S-corp for her and that I told her that everything ever bought business name not hers. They put the Corporations name on top of the contract (which means nothing) and had her sign the contract. It was for 5yrs which sounds extremely long for a cheap piece of equipment. The business lasted 3yrs and they want over $2000 for the remainder of the lease. She is unemployed and all the Corporation accounts have been closed I was able to pay off most creditors and made partial payments to the rest. I sent a letter to CIT informing them of what happened at the signing and the closing of the business. Along with the letter I returned the equipment and $500 to end the lease. They cashed the check and are now hounding my mother for the remainder of the lease. My mother owns no property, is unemployed and makes about $1000.00 a month doing odd jobs mostly for me. I think they took advantage of an elderly immigrant and small business owner. I have spoken to them and they will make no concessions I know it was only. 25 on the dollar but they don't take into account the three years of fees.
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