Lauren Ivy Taylor, whose business card with Merchant Services has an Irvine, CA address, contacted me about giving us better rates on our credit card processing.
The copy of the contract she left with me only had my signature on it... None of the other areas were filled in. She said the monthly lease charge would "disappear after 48 months"... But the contract says the lease continues at the same rate after that.
There are no guaranteed rates posted on the contract; the installer did not show up as scheduled; the pin pad did not work. Several phone calls to Merchant Services and Ms Taylor went unanswered.
To lease this $500 worth of equipment would cost me $8,000 over the four year lease. I returned the equipment after two days, having finally had time to read the contract in full. I filed a complaint with the Attorney General's office, to alert them that this scam is now operating in Louisiana.
As best I can tell, Merchant Services and MBF Leasing are working together to defraud business owners who do not have the time to read the fine print and rely on the word of the sales person who obscures and misrepresents the true terms of the contract.
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