- Report: #105056
Complaint Review: Lease Finance Group CIT - Chiago Illinois
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Lease Finance Group CIT
233 North Michigan Ave Chiago, 60601 Illinois, U.S.A.
Phone:
312-9805600
Web:
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Lease Finance Group CIT ripoff misrepresented terms of the lease Chiago Illinois
An agent for CIT signed us up for a credit card machine for our small business. We weren't told about the lease being non-cancelable until he showed up with the contract for the equipment. Before signing the contact he assured us that if we were not happy with the equipment or if the business failed that all we had to do was contact him and he would transfer the lease to another client. He stated that he did that all the time and it would be no problem at all.
Well, the business failed and we called him several times. After several months it became clear that he was not going to transfer the lease. I tried to deal with CIT directly and was informed that the lease can not be transfered, but could be sub-leased. The only way I had to stop payments was to close the bank account. CIT calls daily at all hours demanding payment. Sometimes they want a payment that is more that the actual lease would have been for the entire term, sometimes they offer a discount. I never take their calls and always corrospond via US Mail. I have returned the equipment to them at an address that they designated. After filing a report with the Better Buisiness Bureau, they answered stating that the "salesman" was not an agent of CIT and thus could not alter the terms by offering to transfer the lease. (NEWS to Me!)
I have filed a report with the FTC as well, and I am considering paying the $1200 to make them go away. I am also on the hunt for the agent that got us in this mess as well. I know I have a case against him.
Josh
Theodore, Alabama
U.S.A.
Well, the business failed and we called him several times. After several months it became clear that he was not going to transfer the lease. I tried to deal with CIT directly and was informed that the lease can not be transfered, but could be sub-leased. The only way I had to stop payments was to close the bank account. CIT calls daily at all hours demanding payment. Sometimes they want a payment that is more that the actual lease would have been for the entire term, sometimes they offer a discount. I never take their calls and always corrospond via US Mail. I have returned the equipment to them at an address that they designated. After filing a report with the Better Buisiness Bureau, they answered stating that the "salesman" was not an agent of CIT and thus could not alter the terms by offering to transfer the lease. (NEWS to Me!)
I have filed a report with the FTC as well, and I am considering paying the $1200 to make them go away. I am also on the hunt for the agent that got us in this mess as well. I know I have a case against him.
Josh
Theodore, Alabama
U.S.A.
1 Updates & Rebuttals
Jennifer
Pasadena,Texas,
U.S.A.
In response to Josh, this company is wrong about trying to do business by having people sign these Non-Cancellable Leases
#2Consumer Comment
Thu, September 02, 2004
I think this company is wrong about trying to do business by having people sign these Non-Cancellable Leases, I am assuming they want this in order to have us tied up, obligated to pay until the end of the term. I blame a credit card processing company, who I reported to the Better Business Bureau in April 2004 for false advertising. This company offered a free website with merchant account and in the need of trying to avoid paying a high cost for a website, I agreed to sign a contract with them. Ofcourse this is where Lease Finance Group comes into the picture. I was concerned about the non-cancellable lease, but I thought that this lease was from this merchant company, not from CIT. So when it came time for me to get my "free website" to my surprise these people were no where to be found, not even the Managers would return my phone calls. So this is when I proceeded to cancel the account and of course disputed the cancellation fee, since they did not give me what they had offered. I thought that my problems were over and I was going to send the terminal back, when I get this letter from CIT telling me that they are the ones financing the terminal and of course this was non-cancellable. I have not paid them in 3 months, and yes the phones calls at the beginning where horrible, they called every 30 min, it came to the point where I had to change my ring tone on my mobile in order for me to know when the would call and ignore them. The point of my story is, how did you get these people to agree for you to give up the terminal? Even though you returned it, they kept on collecting? What problems has this caused you? Did they only charge-off the account and ruined your credit? Did they try to come after any equity under your name? I would really appreciate any information you can give me. To this point I don't care about my credit anymore, I just want them to get this equipment back and for them to leave me alone. Thanks,
