Bluedot Financial Services, Blue Dot Funding
Ripoff - They say your preapproved then keep deposit without funding loan

I have almost and exact story as posted by BBB online. I will copy and paste Excerpt here.

BBB Bureau File Experience

We rate this company as having an unsatisfactory business performance record.

This company solicits businesses seeking new equipment by offering to finance equipment lease agreements. Those solicited are initially told they are pre-approved. The company asks for the first and last month payment, as well as a security deposit in advance.

A few complainants allege the company could not obtain the requested financing in accordance with the original terms or amounts offered, so they attempted to cancel the lease. One complainant asked for purchase financing, but all paperwork sent by the company was for lease financing. All complainants requested refunds and were informed they signed a non-cancelable lease.

The company responds to complaints by stating the customer signed a non-cancellable lease and no refunds are due. The company claims they worked on each complainants file, performing credit checks and locating funding, and the customer did not cancel until after the funding had been secured. One complaint remains unanswered.

We routinely advise careful consideration of offers to extend credit. Comparative shop on interest rates, and other terms and conditions.in this company's case, their lease agreement contains a clause which advises the lessee, that if the lease does not commence due to any reason other than their own negligence, they may retain any monies paid to compensate themselves for credit and other administrative costs.

They try to say they are working on your loan by calling you alot and not doing anything. I told them I was a startup business and they wanted a $1900 deposit for first and last mo. On loan. After 3 mo. I finally told them to forget it and I wanted a refund. They said no and came up with all of these charges like a Dun and Bradstreet report. I told them I was just a small business stating out and asked why they ran that kind of a report. After threatening legal action and many angry phone calls to them they finanlly agreed to give me SOME of my money back but would not refund all of it and I had to sign a settlement letter.

STAY AWAY from them. They are just trying to get money out of people.

Company: Bluedot Financial Services, Blue Dot Funding
Country: USA
State: California
City: Irvine
Address: 8105 Irvine Center Drive Suite 630
Phone: 8008503101

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