More victims from Lease Finance Group a division of CIT. Could someone do something about it?
We own a small restaurant. We have been with Discover Business Services for our credit card processing needs for more than six years until a CMS merchant account sales rep came. He promised us a lower rate, a more efficient service, and a free stationery supply. He also brought the equipment along and sat them up for us.
However, the machine never worked properly and consistently after he left. The pin pad never worked. The free stationery supply that he promised never came. He never answered or returned our calls. We even talked to his superiors and they just gave us all kind of excuses and it just didn't make any sense. We also talked to the technical support staff and tried to resolve the problem but it never worked out since the security code didn't match. They suggested that the system was a stolen item. We were so frustrated since we have lost tremendous business and the customers kept complaining. We were also running out of supply. We didn't have any choice so we finally switched to the other company. My wife simply returned the equipment to the sales rep's office and it was a big mistake.
The Lease Finance Group kept billing us every month. I called the company and explained what has happened. They told us we have signed a four years non-cancellation leasing agreement with them. My wife did not sign such document and we never got any copy of the document back from the sales reps.
To make the matter worse, we should have returned the equipment to the leasing company instead of the sales rep's office since we didn't know the equipment belonged to the other company and we just simply returned to whoever bought it in and it was the sales rep. We thought that the sales rep supposedly the only person conducted the whole transaction.
We called the sales rep's office to see if he had received the equipment and found out the phone had been disconnected. We also verified with the UPS that the equipment has been delivered to the said office. We finally drove up to the sales rep's office and found out they already moved out of the premise. We talked to the landlady of that premise and learned that the office has been in operation only less than six month. They moved out one night right after the equipment was delivered. Somehow, the frustrated landlady also found out where they moved to and gave us the new address. We went to the new office and found out they were still in business. However, they told us the sales rep was out of town and they had never received the equipment even we showed them the proof from the UPS.
Lease Finance Group keeps sending us collection letters and demands the entire accelerated balance of the contract in the amount of $2,500.00 or they will take legal action and will seize our assets, bank accounts, place liens against real property, and garnish wages, and so on.
With the recommendation of our attorney, we asked them to send the copy of the contract or we just go to the court. We never heard anything from them since then.
A year later, we found out Lease Finance Group has filed a delinquent report against us with TransUnion.
We are running a reputable small business and we have an immaculate credit history. We just don't know how this system works. Is the non-cancelable lease still valid if the equipment is not working properly and the lousy service they provide. The sales rep also gave us false misinterpretation and empty promises in order to get my wife signed the contract. My wife recalls she didn't see and didn't sign such contract. How can they have such power to file such report with the credit bureau to ruin our credit without our consent and knowledge?
We believe the Lease Finance Group has played a major role in orchestrating this operation. Is this is a scam? How can I take this adverse account information off my credit report? Is there anyway to resolve this matter without an attorney? Could someone do something to put Lease Finance Group out of business? There are already more than 50 known victims in this newsgroup. Should FTC do something?
We appreciate your input.
Sincerely
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