CIT Financial - Jon Cannon ripoff Lease $380.00 terminal for $4,780! Fraudulent Representaion Phoenix Arizona
I agreed to a meeting because I was told they were JP Morgan/ Chase Bank and they had some information that indicated I maybe eligible for direct discounts from them on credit card processing.Jon Cannon came to my office on a Friday afternoon.
He said he was with NPMG but they were able to give me "wholesale rates" because they were the "source" He told me that JP Morgan/Chase was the bank that processed all the transactions of all the banks including Bank Of America/Merchant Services who I was currently using. After asking me some questions about our volume, he plugged some numbers into this program on his laptop. He then told me I "qualified" for a certain rate if I used "their" equipment. I would have to lease the equipment, but even after that monthly payment I would still be saving $100.00 a month. I told him I paid nothing for my current terminal and it worked fine. He said my terminal was ancient and I had to have the current technology to work with their system. I questioned the price, stating that it cost more than an expensive laptop computer. He said that was the going rate these days and as part of the deal I could get new equipment for free later if the technology changes ( as it always does)He said that was only way I could get the good rate and save the $100 a month.So, I signed his papers and odd he went.
That weekend I went on the internet and found I could BUY the exact same terminal for $380!that he was going to charge me almost $5,000 for!
I called his office at 8:00 am on Monday morning and told them I wanted to cancel the whole deal. Customer service told me I had signed a noncancellable lease and that was probably not possible. I said sure it is! He probably has not even turned it in yet! They said they would have him call me back.He did call back later that morning, I told him to cancel it. He tried talking me back into it, finally he agreed to send me back my voided check and all the documents, and not process the deal.
He said it would be probably friday before I would have them back.Friday arrived and instead I recieved the new terminal!
This began the nightmare! I made many, many more phone calls to NPMG never getting past customer service, who repeated told me that I could cancel the processing service for a fee , but not the lease. I would have to talk to CIT about the lease. I talked to CIT and they said I would have to take it up with NPMG!I also talked to JP Morgan/Chase they had no idea who NPMG was! After
sending registered letters to NPMG and a barrage of faxes, they quit trying to collect any monthly fees for processing.I have never heard back from Jon Cannon or his sales manager after leaving many messages and sending faxes everyday for about 2 weeks.This goes back to June of 2005.I had my bank stop paying any automatic drafts to NPMG and CIT. Then the colection calls
began from CIT. I have tried to return the brand new never opened terminal, but they won't take it.After realizing that they were just going to ruin my credit I have been paying them.
There position is that they are just a leasing company, and based upon my credit they have financed the equipment for the amount submitted to them.Now, I feel the only thing I can do is hire a lawyer and sue NPMG! Anyone want to join me?
NPMG!
Fred
San Jose, California
U.S.A.
14 Updates & Rebuttals
Edip
Seattle,Washington,
U.S.A.
It's only getting worse...
#15Consumer Suggestion
Thu, June 01, 2006
I filed a complaint a couple months ago about CIT.
The funny thing is they are demanding money based on a paper that I NEVER SIGNED!
Looks like either them, or the salesperson copied my signature, or did some copying job.
Anyways,I sent their equipment back, and filed a complaint with BBB. After a few responses BBB said there is nothing else that can be done.
My lawyer sent them a couple letters strictly telling them to contact him on this case, but they never called my lawyer. Instead they called me, my husband, my father on each of our phones every single morning of the week, and yelled, threatened and refused to listen but just asked for a credit card number.
I sent them letters, but i got the same response each time: MAKE A PAYMENT!
I filed complaint with FTC, and State General Attorney of IL. I didn't hear back from them.
Now it's in collection, and my credit is ruined, and unfortunately I can't do anything about it.
I can't believe such companies can get away with such a Fraud!
It's just unbelievable...
Crystal
Garland,Texas,
U.S.A.
This scam widely spread to many comapny with Lease Finance Group LLC is a ring leader
#15Consumer Suggestion
Wed, May 24, 2006
I am very afraid when I do little research online, the Lease Finance Group LLC likely involve more than one company, I will get the list after I verify the relation from Lease Finance Group LLC to CIT Financial USA, Inc and CIT Group, Inc.
All of that company registration under Foreign Investment Company, all data is public. I try to put the time line how and when they start the scheme.
It widely involve credit card terminal processing to computer lease, all of these thing tie to noncancellable lease (never disclosed).
As I read one company name Merchant Lynx service was investigate by GA Attorney Office on the same scheme (Merchant Lynx Service also registration as Foreign investment company).
I think any one live in GA and victimized by this company, file complaint so it will make the case bigger.
I will try to do some help to see who is these company are. How they operate, so we know how to do to get unite to complaint.
Remember FTC and all State A. G Office will not start investigate if the complaint not hit the threshold to alarming them.
Start to collect your own information, connect to other victim in term someday all of you can get together for stronger voices.
Good luck and keep press on.
unitedtofight
John
Tucson,Arizona,
U.S.A.
File a complaint
#15Consumer Comment
Tue, May 23, 2006
I wonder how many other little processors like NPMG take part in this scam with Lease Finance Group. I was thinking that maybe one way to get some attention would be to start writing complaints about JP Morgan Chase on here. Maybe if there were enough complaints about JP Morgan on here that company would actually put a stop or try and clear there name to this whole mess. When i call JP Morgan Chase in there customer service department they have never heard of NPMG. The guy told me they have 1000's of ISO's and cant keep track of them all. Well i bet they would know NPMG if we started writing complaints about JP Morgan.
Jon Cannon from NPMG told me they work for JP Morgan chase company. When i got my paperwork from NPMG they had another company called HSBC bank on it. I think this is common practice to be a ISO for anyone of these companies. Then the salesperson can throw out the big name company to gain your trust. This has got to be illegal!
Robert
Denver,Colorado,
U.S.A.
Everyone please keep me in the loop.
#15Consumer Comment
Wed, May 17, 2006
I would like to help with any kind of action taken against this company. It sounds like we have the numbers to do something.
How do we contact each other?
Phu
Dallas,Texas,
U.S.A.
This how we can do together
#15Consumer Suggestion
Tue, May 16, 2006
I am the one as victimized as your. This here what i suggest we have to do to win back what we lost.
First Write ti AZ G.A Office ASAP.
Write to G.A Office in the State where you live.
Write to Federal Trade Commision.
Write letter to JP Morgan Chase Bank, the address will be on the contract form.
Write to local news,national news media.
We have to get some impact first.
We can use this Ripoffreport find the Lawyer, we will file lawsuit at the same time, i do not know any company can handle 50 to 100 lawsuit at the same time.
Do not use the small claim court, use Jury court system, it will be more chance because they will feel what we get into.
Let JP Morgan know what happen to their ISO, if they knew and turn other way let them do it, we can assume they are the same group in the lawsuit. Send letters by Registered mail,keep receipt for future use.
I do many thing and i let NPMG know it,they just try to contact me. I think they already feel effect.
Do not let them get away, if we can do together, it will be big impact to them, in the process we may save many others.
Check in my rebutal in the issue,i have set up new website to gather all of us ready to fight back. Unite we will get what we will lost (the lease) back.
Kat
San Francisco,California,
U.S.A.
CIT Riff Off
#15Consumer Comment
Thu, February 16, 2006
TO CHRISTINE let me know how to get a hold of you I will contact you otherwise.... Contact Sang at Bay Sushi in Sunnyvalle, and he can relates to you the outcome of my complains. I believe CIT has caught on to this website.
Make sure you write directly to Illions State Attorney's office and printout the compliant forms from their website & make sure you mail it in certified mail to ensure delivery & getting your compliants to the right people. Submit your documents and the demand letter from CIT to the Illions State Attorney's office as back up.
Kat
San Francisco,California,
U.S.A.
CIT RIP OFF
#15Consumer Suggestion
Thu, February 16, 2006
DO NOT TAKE ANY ADVISE FROM SOMEONE THAT MIGHT BE WORKING DIRECTLY FOR CIT !!!!
FILE YOUR Compliants with ILLIONS ATTORNEY GENERAL's Office they already have an active case against this company !!!!! Take action and write directly to the State Attorney's office !! Don't ended up paying for the outrages price for the piece of equipment !!!!
Don't give in !!! Send all the corrsponding letters from CIT to the Illions State Attorney's Office !! Again, they have an active case on CIT !!!!!
Randy
Phoenix,Arizona,
U.S.A.
Cit is no longer Cit. Suing them is a futile attempt at getting revenge on a company that doesn't have anything to do with the lease after the fact.
#15Consumer Comment
Tue, February 14, 2006
They lease tractors, clothing, etc. The price of the equipment is determined solely by the processor. They provide the equipment, Cit only takes that price and breaks it up over a long time for a large monthly fee. About 20% of your monthly payment goes directly to Cit. I belive that there was someone saying that they didn't authorize the contracts to be turned in earlier, yet signed them. DON'T SIGN ANYTHING TILL YOU ARE SURE OF ALL THE FINE PRINT. If they can't wait till later then they don't want your business that bad. If you read the fine print, any, and I mean any verbal agreement between you and the sales person is not legally binding. You can't sue the individual. They are only acting as an agent of a company. The company has the protocol that you are not happy with. If you stop payment on the lease, especially the large ones that I have seen discussed, you might as well throw your credit score down the tube. It effects your credit dramatically. The difference of thousands of dollars more if you later try and buy a house for example. Just a thought.
Christine
Menlo Park,California,
U.S.A.
Contact me on CIT suit
#15Consumer Suggestion
Mon, February 13, 2006
To KAT in SF in response to sending equipment back to CIT...how have they responded? NPMG has left me alone but CIT is now harrassing me. I sent a letter to the president of CIT informing them that I would not pay them anything and that I would return the machines.
The lease was obtained with the use of fraud and the lease amount is totally unrelated to the value of the machines. I would think there has to be a correlation.
I said that my next step would be to take legal action. To Fred in San Jose...how do I contact you?
Kat
San Francisco,California,
U.S.A.
CIT RIPOFFS
#15Consumer Comment
Wed, January 18, 2006
Your story is the same thing that everyone on the chat room has experienced.
AZ Attorney General's office responded to my complaint & they actually got NPMG to respond to them. NPMG used the "fradualant signed contracts" as their tools in their defense with the AZ Attornery General's office. AZ Attorney General's office has an active file on NPMG, but more of you need to write directly to them with your complaints.
AZ Attornery general's office advised that they can't represent individuals to suit the company. More information that their office receives will help build up future case against NPMG & CIT.
We returned the equipment via UPS & insured it. CIT threaten to ruin our credit & asked for $4500 to "BUY OUT" from our contract ! Rediculous !!
We also send a written complaint to the Attorney General at Illinos,Chicago Main Office
100 West Randolph Street
Chicago, IL 60601
(312) 814-3000
TTY: (312) 814-3374
Contact your district attorney's office & see if they can help.
Kat
San Francisco,California,
U.S.A.
CIT RIPOFFS
#15Consumer Comment
Wed, January 18, 2006
Your story is the same thing that everyone on the chat room has experienced.
AZ Attorney General's office responded to my complaint & they actually got NPMG to respond to them. NPMG used the "fradualant signed contracts" as their tools in their defense with the AZ Attornery General's office. AZ Attorney General's office has an active file on NPMG, but more of you need to write directly to them with your complaints.
AZ Attornery general's office advised that they can't represent individuals to suit the company. More information that their office receives will help build up future case against NPMG & CIT.
We returned the equipment via UPS & insured it. CIT threaten to ruin our credit & asked for $4500 to "BUY OUT" from our contract ! Rediculous !!
We also send a written complaint to the Attorney General at Illinos,Chicago Main Office
100 West Randolph Street
Chicago, IL 60601
(312) 814-3000
TTY: (312) 814-3374
Contact your district attorney's office & see if they can help.
Kat
San Francisco,California,
U.S.A.
CIT RIPOFFS
#15Consumer Comment
Wed, January 18, 2006
Your story is the same thing that everyone on the chat room has experienced.
AZ Attorney General's office responded to my complaint & they actually got NPMG to respond to them. NPMG used the "fradualant signed contracts" as their tools in their defense with the AZ Attornery General's office. AZ Attorney General's office has an active file on NPMG, but more of you need to write directly to them with your complaints.
AZ Attornery general's office advised that they can't represent individuals to suit the company. More information that their office receives will help build up future case against NPMG & CIT.
We returned the equipment via UPS & insured it. CIT threaten to ruin our credit & asked for $4500 to "BUY OUT" from our contract ! Rediculous !!
We also send a written complaint to the Attorney General at Illinos,Chicago Main Office
100 West Randolph Street
Chicago, IL 60601
(312) 814-3000
TTY: (312) 814-3374
Contact your district attorney's office & see if they can help.
Kat
San Francisco,California,
U.S.A.
CIT RIPOFFS
#15Consumer Comment
Wed, January 18, 2006
Your story is the same thing that everyone on the chat room has experienced.
AZ Attorney General's office responded to my complaint & they actually got NPMG to respond to them. NPMG used the "fradualant signed contracts" as their tools in their defense with the AZ Attornery General's office. AZ Attorney General's office has an active file on NPMG, but more of you need to write directly to them with your complaints.
AZ Attornery general's office advised that they can't represent individuals to suit the company. More information that their office receives will help build up future case against NPMG & CIT.
We returned the equipment via UPS & insured it. CIT threaten to ruin our credit & asked for $4500 to "BUY OUT" from our contract ! Rediculous !!
We also send a written complaint to the Attorney General at Illinos,Chicago Main Office
100 West Randolph Street
Chicago, IL 60601
(312) 814-3000
TTY: (312) 814-3374
Contact your district attorney's office & see if they can help.
Cory
San Antonio,Texas,
U.S.A.
That Sounds About Right. These guys are some of the biggest rip-offs on the planet.
#15Consumer Comment
Tue, January 17, 2006
That sounds about right. $5000 for a $380 terminal. These guys are some of the biggest rip-offs on the planet. Got approached by two different "MERCHANT SERVICES" companies last week and called by a couple more. I guess the hit companies after the holidays that are flush with cash. One was FSBO and the other was Transaction Merchant's Services. TSM's been in before. TSM telling me my terminal was obsolete and offering a new one at $66.95 per month for 60 months plus a whole slew of fees. Bought my T7P for $150.