CIT Lease Finance Group, Select Merchant Service
Big time ripoff - very deceptive practices

On December 3rd 20003 I signed up with Retriever for credit card processing. At that time I apparently also signed up to lease my credit card processing machine from CIT Lease Finance Group. I was presented a blank contract and was told that he was in a hurry and would fill out the contract and send it back to me. At that time my previous machine was all paid off and I owned it!

I admit I made a mistake in signing a blank contract. I was never told it was a four-year deal. The first I found out about a four-year contract was when I received a thank you for joining us letter from CIT Lease Finance Group dated December 24. I immediately called and told them that I was never told of a four-year deal and was never given a copy of the contract. I was informed at that time that I was basically stuck. At the time I only had 1 year left on my store lease. I never would have agreed to a 4-year contract for anything.

I made the mistake of trusting their representative, whom I understand did not actually work for their company. I do feel that they should watch their reps tactics even though they do not work directly for them. They are presenting themselves as if they do. They should be held accountable.

In October I did move to a smaller location and signed a three-year store lease, which is up in Oct. At this time I am pretty sure I will close this store when the lease runs out. I just signed up with Crescent Processing Company which provides the equipment for free and has agreed to a one-year agreement. I still have to pay CIT Lease Finance Group for a machine I no longer have a use for.

I will spend the next year trying to get out of CIT Lease Finance Group's lease.

Company: CIT Lease Finance Group, Select Merchant Service
Country: USA
State: Illinois
City: Chicago
Address: 233 N Michigan Ave. Suite# 1800
Phone: 8883212307

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