Lease Finance Group ,LFG Deceptive overcharge of Credit card machine lease - different prices for different people Chicago Illinois
Lease Finance Group LLC charges way too much money for these leases and is deceptive in how much you will pay and how you cannot get out of the lease.
I pay $69.99 x 48 months
I have seen others pay $49.99 x 48, $79.99 x 48, $129.99 x 24, $99.99 x 48.
Total of payments for me would be $3851 with fees.
I bought a small store in Jan 2006. I took over the credit card machine and service from previous owner. We did a sub-lease agreement with Lease Finance Group LLC (LFG LLC) and was told that I am only sub-leasing and original owner is responsible for payment if I default. The lease was 44 months at $69.99 plus taxes and fees ($80.24 mo.).
It has been 14 months and I sold business but new owner has his own machine and service. I call LFG to ask what to do and they say I need to pay $2350 and send machine back or $2760 and keep machine. I tell them what was told to me about previous owner responsibilty and they say I am fully responsible per contract. I re-read small print in contract and it looks like they are correct. I now realize I have made a big mistake.
I have looked at my paperwork (sub-lease agreement and application) and I don't see any statement on top that says it's a non-cancellable lease. It's buried in small print in agreement. I also do not see any grand total of payments listed, just the monthly
I say this because I have seen rebuttals that say we were fully informed - not true. I think car leases and rent to own furniture would have this stuff written but these credit card machine leases do not. The salesman does not go over the numbers , just wants you to sign.
I have tried to renegotiate lease but they will not accept anything less.
I have filed a complaint with BBB, Illinois Atty General and FTC.
Eddie
Venice, Florida
U.S.A.
3 Updates & Rebuttals
Lfgisascam
Lynchburg,Virginia,
U.S.A.
What Evidence is Needed to file a report with the Attorney General of Illinois
#4Consumer Comment
Sun, April 13, 2008
Hi,
I am very glad that you are able to relief yourself from this horrible company. I read on your latest post that you were successful in settling your matters with this company. I am also a victim of this scam and am planning on filing a report with the Attorney General of Illinois. I would like some suggestions as to what information I should send in with the form to the attorney general. Do you remember how long it was before you obtained a replied from the attorney general? I am in urgent need to settle this matter and would appreciate your help.
Sincerely,
lfgisascam
Eddie
Venice,Florida,
U.S.A.
Success!!
#4Author of original report
Thu, October 11, 2007
I was successful in using the Atty General of Illinois. I just got a letter from Atty General with a copy form LFG that says I am relieved of any future obligations. I paid over $1600 in previous payments so they got their moneys worth.....
Please beware of what you are signing....
LFG, please tell your reps to provide all paperwork disclosing total of payments....
Eddie
Venice,Florida,
U.S.A.
Lease Finance Group LLC - Update on more deception
#4Author of original report
Wed, August 29, 2007
I had contacted previous lease holder as I am a sub-lease holder with LFG LLC. I was asking about shared responsibilty and information on his original lease. I Then contacted LFG LLC for a copy of original lease and they did sent it to me. I realized that I had never seen this document before (Non-cancellable lease). When I was signed up the only documents they showed me were sub-lease agreements. The Sublease specifically stated that I should have been provided original lease attached as Exhibit A. *****Never happened***** I have submitted a fraud charge with Atty General of Illinois. I have seen others that had success with that so I would encourage others to do the same. I have not heard back yet. I would also like any help from legal sources if it is available......
I have let LFG LLC know my intentions and my problems with this lease and would like them to cancel but they will not. I have cancelled the ACH and I am billed direct so I pay them with a check. You have to ask for direct billing. I let them know that my business bank account was closing..