CIT or Lease Financial Group is a terrible company and I highly recommend everyone stay away from them!
As with many others I was persuaded by a credit card processing company sales man to lease a machine, with guarantees of lower fees and great savings over my current processor. Unknowingly the lease was through LFG (Lease Financial Group) who I was forced to deal with when I originally purchased the company and had to assume their non cancelable lease for 2 years of a 4 year contract.
When this contract was up I notified LFG I was not extending the lease in any way and I returned their equipment. They took one additional payment from my account after the term of the lease. When I questioned them on it they stated I was late in notifying them and returning the equipment. BS but ok, not trusting them I put a freeze on my account to block them from removing any more funds. They called the next month wondering where there payment was, I again told LFG the lease ended and the machine was returned. LFG again stated the same story and continued to harras me on a weekly if not daily basis trying to get yet another payment from me that was not due. They sent me many, very overstated billings in an attempt to extort the money from me. They falsified billing statements, and stole money from my account, how the hell do they get away with this?
After several months of this they managed to yet again draw funds from my account by slightly changing there reference number or some BS like that. The bank said it was too late to contest by the time I noticed and notified them a matter of 3-5 days. So they got 2 extra payments from me and I had no recourse what so ever.
Now I am stuck dealing with LFG yet again due to a used car sales man' type of sales rep from yet another credit card processing company, who turns out to be the same dam company as before just using a different end name.
When I signed with the rep I clearly, make that very clearly stated I would sign no more than a 2 year agreement on anything whatsoever. He managed to screw me on this as well. I was also not aware that the leasing company was LFG allies CIT, if had known this I would have never agreed to anything with them whatsoever.
When my 2 year lease was up, I again notified LFG my lease has ended and was returning their equipment. I was very confused when they responded telling me that I was in a non-cancelable lease and I had to continue paying them. After several letters back and fourth and having them send a copy of the contract, I noticed the contract did in fact say it was for 48 months rather than the 24 agreed upon. I know this to be false and you can tell that the 48 months written on the contract had written over the 24 months originally agreed upon. It is most likely the credit card processor rep did this at some point. None the less the contract was made under false and misleading circumstances.
I notified LFG of all this and told them the contract was over one way or another. I blocked them from my account but they still managed to get several more payments from my account. Now I have cancelled my bank account in order to keep them from steeling anymore from me. If I have to I will cancel all my accounts and change banks.
Has anyone filed suite against them or got any resolution from this company what so ever?
Email me if so. (REDACATED FOR SECURITY PURPOSES)
FTC complaint registered on line 01/16
Ref # 21409910
I assumed an equipment lease with CIT now LFG when I purchased the business in July with a 2 year term. After the lease term was over they drew an additional payment from my account, I had informed them the lease was over and returned their equipment. I contested this and put a freeze on them from debiting my account. They requested another payment after that and started sending grossly overstated billings up to $800, along with harassing non stop phone calls. They then altered their ID or something and drew another payment from my account. The bank told me it was too late to contest a debit (5-7 days after the fact). They stole money from me!
I am now at the end of a 2 year contract with them, I did not know it was the same company, I knew them as CIT not LFG. A credit card processing company, also using a different name that wound up being the company I cancelled with earlier. Talked me into another lease with promises of saving that would offset the lease and then some. I was very clear and insistent that I would agree to no more than a 2 year agreement or lease.
That lease is up now, I informed LFG of this and returned there equipment. They have taken 2 extra payments from my account. I have sine had to close that account and start a new. They call me with there automated service every half hour. I just sent a fax asking them to stop, I will follow up with a certified letter.
I have told their collection reps to stop calling I would only talk to a manager of LFG to discuss the situation. They are saying I signed a 4 year lease and this is what is written over on the lease. I in no way shape or form ever agreed to a 4 year lease. Resolution would be; for them to return money taken from me after the lease terms and agree that the second lease is over or void. It was entered into under false and misleading pretenses.
Has anyone filed suite against them or got any resolution from this company what so ever?
Email me if so.
Karl
Apache Junction, Arizona
U.S.A.
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