- Report: #94385
Complaint Review: CIT Lease Finance Group - Chicago Illinois
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CIT Lease Finance Group
233 N. Michigan Ave., Chicago, Il 60601 Chicago, 60601 Illinois, U.S.A.
Phone:
312-980-5715
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CIT Lease Finance Group Coerced Into Signing A Deceptive Lease Agreement Chicago Illinois
This is my second report pertaining to CIT. I have read all the other reports and agree, this company has got to be taken down. If Chuck from California knows of 250 business, there must be at least 25,000 who have been victimized by their deception.
And I'm tired of rebuttles stating, "DID YOU READ THE CONTRACT!" We were all mislead into signing this agreement and anybody that says our argument is with the processing company, does not know what they are talking about. I have since had other CC processors try to get me to switch to their service and my first question is, "Who do you lease you equipment through?" - And so far, 100% said CIT. So don't tell me that the processing companies and CIT are not in bed together.
CIT's leases are written not as a lease, but as a legal way to rob your bank account. They do not end after the term has matured. After you lease the equipment - you then rent the equipment and if you want to buy the equipment, you pay almost 100% of the original value. So in fact - you never really leased anything! You were robbed for the entire 48 months and CIT depreciated the equipment about $2.00 a month - that is all you get.
So to CORY and all other rebuttles out their - we want to get CIT because their lease is a scam. I have leased other equipment before and the APR was no different than that of the current rate with a buyout of about $1.00. So don't put the blame on us - CIT knows they have a good scam going and now the word is getting out.
IF anybody knows a way to get all business together outside this web site to file a Class Action Suit, I will do all I can to help out. If we find 1000 business that were victims of CIT, donate $250 each (the value of our equipment) we could have $250,000 to hire a good lawyer. In the end we could keep our equipment and get a nice refund for the gouging we have all fallen victim to. Thank you.
Russell
Oakland, New Jersey
U.S.A.
And I'm tired of rebuttles stating, "DID YOU READ THE CONTRACT!" We were all mislead into signing this agreement and anybody that says our argument is with the processing company, does not know what they are talking about. I have since had other CC processors try to get me to switch to their service and my first question is, "Who do you lease you equipment through?" - And so far, 100% said CIT. So don't tell me that the processing companies and CIT are not in bed together.
CIT's leases are written not as a lease, but as a legal way to rob your bank account. They do not end after the term has matured. After you lease the equipment - you then rent the equipment and if you want to buy the equipment, you pay almost 100% of the original value. So in fact - you never really leased anything! You were robbed for the entire 48 months and CIT depreciated the equipment about $2.00 a month - that is all you get.
So to CORY and all other rebuttles out their - we want to get CIT because their lease is a scam. I have leased other equipment before and the APR was no different than that of the current rate with a buyout of about $1.00. So don't put the blame on us - CIT knows they have a good scam going and now the word is getting out.
IF anybody knows a way to get all business together outside this web site to file a Class Action Suit, I will do all I can to help out. If we find 1000 business that were victims of CIT, donate $250 each (the value of our equipment) we could have $250,000 to hire a good lawyer. In the end we could keep our equipment and get a nice refund for the gouging we have all fallen victim to. Thank you.
Russell
Oakland, New Jersey
U.S.A.
1 Updates & Rebuttals
Gloria
Cottonwood,California,
U.S.A.
File your Report with FTC
#2Consumer Suggestion
Tue, June 29, 2004
Hi, You may want to sent a complaint to FTC (Federal Trade Commission) . I did and received a response saying they don't do individual cases. However, if they log enough complaints, they will start an investigation and possibly legal action. So here is the link: https://rn.ftc.gov/pls/dod/wsolcq$.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 [email protected] . 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: [email protected], [email protected], [email protected], 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
