Lease Finance Group A Divison Of CIT rip-off lease purchase agreement for credit card machine scam Chicago Illinois
Like other readers I was sucked into a terrible lease purchase agreement for a credit card machine, our first time as a credit card merchant. The smooth talking salesman (I might add a fat b*****d) told me it was "about the same price" to lease purchase a credit card machine rather than buy outright. $45 a month for 60 months.
It was only 1 year into the contract when I realized I could have bought it for maybe $600 but I've already given these greedy bastards nearly 4 times that much and they still want 10% of the residual value to complete the contract. I've stopped making payments and now all
I get is tons of threatening letters and phone calls. They even found my home address and I get demand letters there as well telling me my personal credit profile will be damaged and sure enough it is.
I offered $300 in full and complete settlement of the debt (around $700 still to pay) but a thug in their collections department just laughed at me. A bunch of greedy, nasty, malicious mother fu**ers who should be put out of business and I, for one, intend to wage war on them.
Gareth
Florida
U.S.A.
2 Updates & Rebuttals
Jeff
Wells,Nevada,
U.S.A.
got sucked in and now I am paying 10 times what the stupid machine is worth
#3Consumer Comment
Wed, October 27, 2004
I have been ripped off and was to busy at the time to notice, got sucked in and now I am paying 10 times what the stupid machine is worth and closed my business and will now still pay for the machine for 3 yrs. I called the company and now they ack like you are piece of s**t and will not do anything to help.
The leasing agents pretty much say I am screwed and same with the company. Landmark Merchant Services, serviced me all right they majorly screwed me, same with the piece of s**t leasing company Ladco Leasing, hopefully something in the future will happen or maybe people will read this and understand how they can be screwed by this situation,
thanks
Gloria
Cottonwood,California,
U.S.A.
File your Report with FTC
#3Consumer Suggestion
Tue, June 29, 2004
Hi,
You may want to send a complaint to FTC (Federal Trade Commission) . I did and received a response saying they don't do individual cases. However, if they log enough complaints, they will start an investigation and possibly legal action. So here is the link: https://rn.ftc.gov/pls/dod/wsolcq$.startup?Z_ORG_CODE=PU01 to the FTC complaint form. I've told many people about it, so you may want to do the same. Make sure you give specific examples or even let them know you have documentation of deceptive or misleading information. Also, if possible, please scan & send copies of these documents to me at [DELETED]. I haven't given up, but it does take a while for the squeaky wheel to be heard.
As far as CIT, here is their main site: http://www.cit.com/main/default.htm . Also, within this site, I found e-mails and have sent copies of my rip-off report, including a copy of all the complaints listed under Lease Finance Group in the Rip-Off site. Here are some e-mail addresses, you may want to send your concerns to: investor.relations@cit.com, corpcomm@cit.com, directors@cit.com,
I did get the Rip-Off Report Do-It-Yourself Guide and it did have some good steps to follow. However, it was a little lacking in the cyberspace rip-offs. I've been paralleling the thoughts or ideas in this Guide to try to apply them to the internet. For example, instead of sending faxes, send e-mails. So every web site I am interested in, I look for e-mails and make up a group listing & start bombarding them with e-mails and include my rip-off report, plus any other rip-off concerns.
I hope this helps. Thanks, G for California