CIT Technology Fin Serv Inc
CIT Refused to take back leased equipment at lease end, refuses to honor cancellation letter, extends lease term payments while refusing to accept unused leased equipment

We signed a 5 yr lease with Citi Capital (now CIT Technologiy Fin Serv, Inc) for a office copier. Lease signed 5/24/05. First lease payment wasn't due until late July. As we neared the end of the lease period we faxed & mailed (on April 22) our notice of not intending to continue with the lease. We advised that the copier would be returned to CIT when last payment is due on copier which was described as "July 24".

Also, we called CIT on 4/22/10 & were told by a representative that if we notify of our intent to return copier within 90 days of end of contract that we would not be obligated for future payments on copier. We also informed CIT back in April that we were no longer using the copier & had not used it for months (leased another).

We are still receiving invoices for months beyond July. CIT won't give us instructions where to return copier and says it won't accept the copier until past payments are paid in full (owe for a couple months excluding July & August). Further CIT says while copier is in our possession we will be continue to be invoiced.

In letter to CIT in April we stated "I need to know if by giving this notice we will NOT be held to any further liability beyond our initial five year contract." I ended the letter by stating "please accept this as our notice to return the copier by the end of our lease term."

No response from CIT to letter. Letter sent by US mail to both Chicago & Jacksonville, FL locations & by fax.

Now today CIT won't even acknowledge this April 22nd letter & further states that because we have not returned the copier we will still be charged. Threats of going to attorney general or having a Massachussets law firm start a class action lawsuit seemingly has no impact on them.

I believe if CIT has the audacity to try this with this paper backing then they are categorically doing this to others. Should be a class action lawsuit here.

Company: CIT Technology Fin Serv Inc
Country: USA
State: Illinois
City: Chicago
Address: 21146 Network Place
Phone: 18882040799

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