Lease Finance Group CIT
Ripoff misrepresented terms of the lease

An agent for CIT signed us up for a credit card machine for our small business. We weren't told about the lease being non-cancelable until he showed up with the contract for the equipment. Before signing the contact he assured us that if we were not happy with the equipment or if the business failed that all we had to do was contact him and he would transfer the lease to another client. He stated that he did that all the time and it would be no problem at all.

Well, the business failed and we called him several times. After several months it became clear that he was not going to transfer the lease. I tried to deal with CIT directly and was informed that the lease can not be transfered, but could be sub-leased. The only way I had to stop payments was to close the bank account. CIT calls daily at all hours demanding payment. Sometimes they want a payment that is more that the actual lease would have been for the entire term, sometimes they offer a discount. I never take their calls and always corrospond via US Mail. I have returned the equipment to them at an address that they designated. After filing a report with the Better Buisiness Bureau, they answered stating that the "salesman" was not an agent of CIT and thus could not alter the terms by offering to transfer the lease. (NEWS to Me!)

I have filed a report with the FTC as well, and I am considering paying the $1200 to make them go away. I am also on the hunt for the agent that got us in this mess as well. I know I have a case against him.

Company: Lease Finance Group CIT
Country: USA
State: Illinois
City: Chiago
Address: 233 North Michigan Ave
Phone: 3129805600

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