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  • Report:  #198031

Complaint Review: Five Point Capital

Five Point Capital Breach of contract, deceptive lending practices ripoff San Diego California

  • Reported By:
    spreckels California
  • Submitted:
    Sun, June 25, 2006
  • Updated:
    Tue, June 27, 2006
  • Five Point Capital
    10525 Vista Sorrento Parkway
    San Diego, California
    U.S.A.
  • Phone:
    800-317-3404
  • Category:

I am selling a semi truck, that I have posted on the internet.

I was contacted by a would be buyer, We went thru the whole process and he stated he wanted the truck.
He went looking for finacing and chose Five Point Capital.

I was contacted by Jimmy Parkhill from Five Point Capital.

He stated the buyer had to fill out the contract, then I would be sent some paper work that I needed to fill out and have notarized and return to them. I was told by him verbally and in a documented email that when i returned these papers to them the deal was complete and i would receive my money in one to two days.

So I returned the paper work to them by fed ex, and quit my job I had pulling a brokers trailer.

Then two dayslater when I thought I would receive my money. I instead received a phone call from the buyer, stating he feels Five Point capital is getting him on a huge interest rate, and wants to pull out.

I contact Jimmy Parkhill, who knows that on the contract Five Point capital is listed as the buyer and the guy who would receive the truck is listed as lesse.

Jimmy says the lesse can still pull out because he needs to verbally athorize me getting paid.

This is a Five Point Capital method of saying hey if we pay you then we are now stuck with a truck with no lessee.

So I have filed complaints with the bbb of San Diego, also the Attorney Generals Office of California, and have retained a lawyer who said that Five Point Capital went into a contract and can not breach it.

As for know I still have the truck the truck payment the insurance payment and no job, because the broker had another driver lined up right after I left.

Corey
spreckels, California
U.S.A.

1 Updates & Rebuttals


Corey

spreckels,
California,
U.S.A.

email proof from five point capital

#2Author of original report

Mon, June 26, 2006

> From: Jimmy Parkhill
> Sent: Tuesday, June 13, 2006 2:36 PM
> To: 'xxxxxxxxxxxxxxxx'
> Subject: Payoff Documents
> Importance: High
>
>
>
> Mari,
>
> Per our conversation, attached are the documents that are
> required to be signed by Corey to complete the deal and/or purchase of
> the 1999 Peterbilt for Lincoln Forry Excavating.
>
> Please have the Bill of Sale signed & notarized, and then
> complete & sign the Equipment Condition Report, and the Authorization
> for Payoff.
> (Note: Only the Bill of Sale needs to be notarized.)
>
> I will need Corey to fax me copies of these three documents, and
> as well, overnight me the originals.
>
> Please overnight the originals to:
>
> Five Point Capital
>
> Attention: Jimmy Parkhill
>
> 10525 Vista Sorrento Parkway
>
> Suite 304, 3rd Floor
>
> San Diego, CA 92121
>
> (888) 576-4685
>
>
>
> Our FedEx Account # is: xxxxxxx
>
> If you have any questions, please give me a call.
>
> Thank You for your assistance!
>
>
> Jimmy Parkhill
> Account Executive
> Five Point Capital
> 10525 Vista Sorrento Parkway
> San Diego, CA 92121
>
> jparkhill@fivepointcapital.com
> Ph: (888) 576-4685 x281
> Fax: (866) 597-2421
>

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