Complaint Review: Balboa Capital

Consumer Beware!  Before doing business with Balboa Capital Please read the complaints posted on this company. 

They will tell you that your agreement with them is a simple interest loan with a $1.00 purchase option at the end of term of the loan.  They will tell you there is no early pay-off penalty.  They will even send you an amortization schedule if you ask them for one.  When you try to pay the note off early however; you will find out that the amortization schedule is nothing more than a useless piece of paper. 

When you contact them for an early pay-off amount they quote you an amount that exceeds the total of monthly payments remaining on the note.  No early pay-off penaly?  What do they call this?

Their customer service is Horrible too!  They are Rude and absolutely Useless! If you call them trying to get answers all you get is another run around.  When you show them a copy of the amortization schedule you were sent via email by one of their loan councilors all they want to tell you is that they shouldn't have done that.  They Will Not Stand By Their Word.

And...to top it off...at the end of the completed term of the lease they have the gaul to send you a final invoice with a $479.00 Contract Termination Fee!!!!  How is it that the contract is being terminated when you the consumer have complied with All aspects of the lease term????

The experience we have had with Balboa Capital is one I Never want to experience again and I am hoping that this post will help prevent others from getting rung into a falsly represented lease agreement as we were.

Once again I want to say Consumer Beware!  If you receive any correspondence from Balboa Capital through the mail the best advice I can give you is to shred it as quickly as possible.  Do not accept their calls. 

If after reading the complaints on this company you stll decide to do business with them, Please do yourself a favor and record all conversations you have with them.  I wish I had.