Complaint Review: Lease Finance Group - Chicago Illinois

Although it may be too late for me to do, any business person that is approached by this dishonest sales tactic should not sign the contract without having them put an addendum allowing you to cancel at any time. If they won't, then move on. Also, do not fall for the fact that only their eqpt. will work and that other terminals probably are outdated and do not have a warranty. (they will ship another if yours fails, free upgrades and downloads as needed, blah, blah, blah) By the way, has anyone else found a way out of their contract? I too am like K.C. in N.Las Vegas & Tyson in Maryland, paying $2700 for $150 piece of eqpt. Stupid me!

To "rip-off" means, "to swindle, exploit, or deceive." That is what Lease Finance Group has done to many small business owners. That anyone could defend their business practices or even accept a paycheck from them is incredible to me. When I registered my business name that is how I believe CIT Lease Finance Group and other credit card processing services got my contact information. Within days I was being hounded. They get you before you've even left the gate when it comes to establishing a business. LFG is not an innocent financing company caught in the middle. Where is the logic in them financing a $150 piece of equipment for $2,500?? I was stuck in a 4-yr. lease where I paid $57 monthly. The value of that lease comes out to $2,736. When I inquired as to how much LFG so "graciously" shelled out on my behalf, the rep told me $1,900. Something's fishy there and as far as I'm concerned LFG knows full well what their role is in this scam. Phil, as a veteran to business ownership you should be an advocate for small business owners. Just because you've had 30 years to learn about small business ownership does not entitle you to verbally whip new business owners for their mistakes. Unfortunately, many new business owners do not have the luxury of securing the services of a lawyer. My recommendation to new business owners is to take advantage of the free counseling that the SBA offers. Additionally, thoroughly research the credit card processing industry and all of its quirks. Accepting credit cards can definitely improve profitability, but beware of schemes and long-term contracts. Do things on your own time. Hopefully if you're reading this, it's not too late.

To "rip-off" means, "to swindle, exploit, or deceive." That is what Lease Finance Group has done to many small business owners. That anyone could defend their business practices or even accept a paycheck from them is incredible to me. When I registered my business name that is how I believe CIT Lease Finance Group and other credit card processing services got my contact information. Within days I was being hounded. They get you before you've even left the gate when it comes to establishing a business. LFG is not an innocent financing company caught in the middle. Where is the logic in them financing a $150 piece of equipment for $2,500?? I was stuck in a 4-yr. lease where I paid $57 monthly. The value of that lease comes out to $2,736. When I inquired as to how much LFG so "graciously" shelled out on my behalf, the rep told me $1,900. Something's fishy there and as far as I'm concerned LFG knows full well what their role is in this scam. Phil, as a veteran to business ownership you should be an advocate for small business owners. Just because you've had 30 years to learn about small business ownership does not entitle you to verbally whip new business owners for their mistakes. Unfortunately, many new business owners do not have the luxury of securing the services of a lawyer. My recommendation to new business owners is to take advantage of the free counseling that the SBA offers. Additionally, thoroughly research the credit card processing industry and all of its quirks. Accepting credit cards can definitely improve profitability, but beware of schemes and long-term contracts. Do things on your own time. Hopefully if you're reading this, it's not too late.

To "rip-off" means, "to swindle, exploit, or deceive." That is what Lease Finance Group has done to many small business owners. That anyone could defend their business practices or even accept a paycheck from them is incredible to me. When I registered my business name that is how I believe CIT Lease Finance Group and other credit card processing services got my contact information. Within days I was being hounded. They get you before you've even left the gate when it comes to establishing a business. LFG is not an innocent financing company caught in the middle. Where is the logic in them financing a $150 piece of equipment for $2,500?? I was stuck in a 4-yr. lease where I paid $57 monthly. The value of that lease comes out to $2,736. When I inquired as to how much LFG so "graciously" shelled out on my behalf, the rep told me $1,900. Something's fishy there and as far as I'm concerned LFG knows full well what their role is in this scam. Phil, as a veteran to business ownership you should be an advocate for small business owners. Just because you've had 30 years to learn about small business ownership does not entitle you to verbally whip new business owners for their mistakes. Unfortunately, many new business owners do not have the luxury of securing the services of a lawyer. My recommendation to new business owners is to take advantage of the free counseling that the SBA offers. Additionally, thoroughly research the credit card processing industry and all of its quirks. Accepting credit cards can definitely improve profitability, but beware of schemes and long-term contracts. Do things on your own time. Hopefully if you're reading this, it's not too late.

To "rip-off" means, "to swindle, exploit, or deceive." That is what Lease Finance Group has done to many small business owners. That anyone could defend their business practices or even accept a paycheck from them is incredible to me. When I registered my business name that is how I believe CIT Lease Finance Group and other credit card processing services got my contact information. Within days I was being hounded. They get you before you've even left the gate when it comes to establishing a business. LFG is not an innocent financing company caught in the middle. Where is the logic in them financing a $150 piece of equipment for $2,500?? I was stuck in a 4-yr. lease where I paid $57 monthly. The value of that lease comes out to $2,736. When I inquired as to how much LFG so "graciously" shelled out on my behalf, the rep told me $1,900. Something's fishy there and as far as I'm concerned LFG knows full well what their role is in this scam. Phil, as a veteran to business ownership you should be an advocate for small business owners. Just because you've had 30 years to learn about small business ownership does not entitle you to verbally whip new business owners for their mistakes. Unfortunately, many new business owners do not have the luxury of securing the services of a lawyer. My recommendation to new business owners is to take advantage of the free counseling that the SBA offers. Additionally, thoroughly research the credit card processing industry and all of its quirks. Accepting credit cards can definitely improve profitability, but beware of schemes and long-term contracts. Do things on your own time. Hopefully if you're reading this, it's not too late.

Calling repeatedly is against the law, don't get mad, get even, turning the tables on the harrassers is easy, here's how. The next time these rude vultures call, the second you realize who they are press and hold the #1 button on your phone, this sends a pericing squeal through the line to their headphones they'll hang up very fast, do this every time they call to harrass you, it turns the tables back on the harrassers, they only want to harrass you, when you harrass them back they think it's "Unfair" I actualy had a vulture say "You can't stop me from calling" I answered "Maybe not, but I can make you wish you'd never called" (As of now, two months later, she has not called again) It works beautifuly.

Hi Kellie You say you used to work for Lease Finance.What a sad,sad job you must have had. How could you face yourself in the morning?You act like they are not at fault.Why in the world would anyone in there right mind pay $4,000.00 or more for a credit card swiper that you can buy on line brand new for less then $150.00?The reps insist that you lease the machine,infact that is the only way they will let you do business with them .. Why not offer to the client of buying it out right for $150.00? What a big,big scam.Today I had the pleasure of closing my business checking account.What a great,great feeling and relief now knowing that "Lease Finance" & sister scam company "Abanco" will not be hitting my checking account for fees they they dream up.The Abanco president had the guts and nerve to call me last week after they received a letter from the Minnesota Attorney General.He was willing to let me out of the contract if I would send them another $300.00 LOL.I used their service for 3 months and it cost me over $300.00 in service fees.I told him I wanted my $75.00 back that they bilked out of my checking account in December of 2006.He said "no way" that they would give me back my $75.00.I now plan to take all of the paper work and there stupid reminders for payments and destroy all documents.Out of sight,out of mind.I plan to put all of this stuff behind me and continue to operate my business by "The Golden Rule."

I used to work for Lease Finance Group LLC and I recently left because of family related issues. I worked in their collections department for 2 years. I do completly sympathize with your complaints about the harrasment and believe me the employees have complained to. Nobody likes to be called 100x a day about anything. There is a system that was implemented by a company that bought Lease Finance Group LLC by the name of Northern Leasing based in New York, the system updates every 24 hours so even if we have already spoken with you the system will not acknowledge that conversation until the next business day therefore removing you from the call list. I know it sucks but that is what it is. The collection agents get paid a hefty alary starting at 31500.00 a year to do this work so there is only so much complaining we will do. As far as the NON-CANCEL AGREEMENT, it is indeed non-cancelable and for this reason, Lease Finance Group does not calculate and decide how much per month you are going to have to be obligated to pay for the equipment that you receive. There are independant sales reps who target small businesses and solicate the sale od these machines. The sales person decides how much per month you will pay for the equipment based on their companies guidelines because the equipment is in fact coming from there company not Lease Finance Group. When you buy a car the car dealership sells you there car and the finance company pays for it, same for Lease Finance Group. When Lease Finance Group receives your SIGNED non-cancelable agreement there is a clause in there that states that the contract has been read BEFORE being signed. Once we receive that we then pay the sales rep for the charges and fees of the contract then to be re-paid by YOU the consumer. We have a Lease verifications department that calls the consumer three business days after the contract is received to ensure that the equipment was received and the contract has been read. There usually isnt a problem with this deal until there are complaints that the equipment isnt working properly (which lease finance group isnt responsible for and is stated on the back of each lease as they do not provide warranties on the equipment it is sold "as is" and we do not have a repair department usually that can be provided through th processing bank i.e. ABANCO but we will provide a replacement machine equivalent to the equipment you already have) or they say that they are paying to much for something that costs less in stores, not trying to be mean but the machine should have been brought in a store then, once you sign a non-cancelable lease you are held accountable period, there is no easy way of getting out of the contract at all, wether you write, call or file a complaint it doesnt work, you signed it you are responsible. As far as the price being too much, on the contract itself the amount you are paying for the equipment each month is listed and right next to it it states for how many months or years you will have to pay for it, if you do the math you will figure out how much money potentially you will be paying for the equipment before you sign the lease. Sales people period are going to try and rip you off and that is what makes our job hard at Lease Finance Group because by the time you get to us its too late there is nothing we can do. Reading what you sign is important especially this day in age, stop allowing people to come into your home or business and sell you a dream, get everything in writing, every promise get in writing, read what you sign even if it is a 50 page document and that will reduce your chances of getting ripped off. This is more than just someone promisesing you a dream vacation, you are business owners act like it plain and simple, have an attorney read any contract before you sign it espeially if it is going to affect your livleyhood or your business and especially your personal credit because this isnt a business debt its a personal debt. On all of the leases there is a PERSONAL GUARANTEE box that clearly states once you provide your social security # and your signature you become personally resposible for this debt period. It is true that you can file and attorney general complaint to stop the phone calls but in the end you are still going to be responsible for the debt and beleive it or not most people end up settling with the company to just get it off there credit. Lease Finance Group is the middle man and when you dont pay we loose out on the money we paid the sales company for the deal, the complaints should be about them as far as the contract side goes. As far as the complaints of harrasement understandable but nothing the reps at the company can help, it is an automated dialer system and they dont control it so complaining and cursing at them is worthless. I do apologize to those who got involved in such in awful deal but as a consumer you need to be more aware and this I hope will serve as a valuable lesson.

In my business as a recording engineer and studio owner for over 40 years I have never had any clients sign a recording lease or anything that resembles one.When they are in the middle of a project and decide not to finish we simply say good buy and wish them luck.If they are not happy with me or my service why insist that they continue to pay me if they do not have any more use for my services.After using Lease Finance and Abanco service for only 4 months and only 4 Visa charges from 4 clients for a total of less then $500.00 I decided that paying $60.00 per month was not a good thing for my business .I wrote them both nice letters explaining that there services were no longer needed.Right there and then if they were a (kind & compassionate)type of company they should have responded with a agreeable type of solution.There is a old saying that says("What Goes Around ,Comes Around")Also "You Reep What You Sow" .Its really sad that we live in a country where business's do not practice "The Golden Rule".And how much money you get out of someone is the "Bottom Line".

For someone that has been in business for over 30 years should know what its like to be taken advanage of or ripped off! For example; getting charged 7 times + the price of what the price of the credit card machine cost. Being dishonest about the product or service that they are selling. Only targeting small business owners new to business and not knowing all their facts or their options.Yes.. my fault!! Their are lot of money hungry crooks in this world that deceive honest hard working people of their money. So if you get charged 2600.00 and you find out that the actual is only 350.00. What would you think? Rip-Off! Thats like you thinking your getting a bar of gold but in reality you get a bar of soap. Never the less.. I got taken by LFG! You live and learn and others can learn from your mistakes. Just so happens I sill continue to pay for my mistake. They had a direct link to my bank account. December 19th of 06 I decide to change banks. They send me a collection notice. I send them check out on the 28th of Dec.!In the mean time are calling my home and harassing my sick mother several times during the day. Then the folling day they start harassing me at work with automated phone calls. I call them back to resolve the matter! They are nasty with me. I explain to them that the money is on the way and ask them to stop calling. They tell me that they are not going to to stop calling intill they get their money. Now I plan to follow through with a attorney. Oh.. Their was no need for you to jump on my post with a cocky attitude.I know what I am obligated to pay for! The people that posted info about LFG posted for a reason and you read their's and mine.Like I said once before if I knew what I know now. I would have never delt with LFG.It's not like I came to them they came to me! And as for the collection Law im not in the wrong because they have allways recieved their money for my mistake I made! Im shore from you being in business for 30 yrs you know that a business that takes advanage of people doesn't last for long in the real world. You can only take advanage of people for so long.. business or personal relations. As for the harassment and the thought of these people distroying my credit for no reason. Why? Because they have the right too? I don't need to deal with this and im not!

I have read the comments regarding Lease Finance Group and each one tells the same story. The consumer, typically a small business owner, is supposedly unaware that he is signing a NON-CANCELLABLE LEASE. I find this very hard to believe. I have offered small dollar leasing to my small business clients using LFG and other leasing companies. Each of these companies, by law, must state on their contract that the lease is NON-CANCELLABLE. LFG, and other 3rd party leasing companies provide money. They, to my knowledge, do not provide equipment, or cars, or boats, etc. Therefore, they are not responsible for said car, or boat, or credit card machines. Any bank that lends money simply wants to be repaid, and in a timely fashion. Where is the rip-off? I have been in business for over 30 years and I'm amazed at how many small business owners try to scream rip-off when they simply had a case of buyers remorse. Some business owners never read the contract they are signing. Some sales people lie. Well, welcome to the real world. Every legitimate contract that I've ever seen has a clause in it that reads something such as: "This contract includes the entire agreement between parties, nothing either oral or written applies if not included in this contract." Folks,...You sign it, you are obligated to pay back the money. Period. Forget the excuse that, "my salesman lied," "my credit card machine doesn't work right," or "my dog ate my quick-books software." Will you just read some of the "I've been ripped-off comments from people! You are in business, you made a business deal. Harrasment is a different matter. If you think you've been harrased, first, know collection law. Feel like you truly are being harrased? Contact an attorney. Why is this so hard?

I have read the comments regarding Lease Finance Group and each one tells the same story. The consumer, typically a small business owner, is supposedly unaware that he is signing a NON-CANCELLABLE LEASE. I find this very hard to believe. I have offered small dollar leasing to my small business clients using LFG and other leasing companies. Each of these companies, by law, must state on their contract that the lease is NON-CANCELLABLE. LFG, and other 3rd party leasing companies provide money. They, to my knowledge, do not provide equipment, or cars, or boats, etc. Therefore, they are not responsible for said car, or boat, or credit card machines. Any bank that lends money simply wants to be repaid, and in a timely fashion. Where is the rip-off? I have been in business for over 30 years and I'm amazed at how many small business owners try to scream rip-off when they simply had a case of buyers remorse. Some business owners never read the contract they are signing. Some sales people lie. Well, welcome to the real world. Every legitimate contract that I've ever seen has a clause in it that reads something such as: "This contract includes the entire agreement between parties, nothing either oral or written applies if not included in this contract." Folks,...You sign it, you are obligated to pay back the money. Period. Forget the excuse that, "my salesman lied," "my credit card machine doesn't work right," or "my dog ate my quick-books software." Will you just read some of the "I've been ripped-off comments from people! You are in business, you made a business deal. Harrasment is a different matter. If you think you've been harrased, first, know collection law. Feel like you truly are being harrased? Contact an attorney. Why is this so hard?

I have read the comments regarding Lease Finance Group and each one tells the same story. The consumer, typically a small business owner, is supposedly unaware that he is signing a NON-CANCELLABLE LEASE. I find this very hard to believe. I have offered small dollar leasing to my small business clients using LFG and other leasing companies. Each of these companies, by law, must state on their contract that the lease is NON-CANCELLABLE. LFG, and other 3rd party leasing companies provide money. They, to my knowledge, do not provide equipment, or cars, or boats, etc. Therefore, they are not responsible for said car, or boat, or credit card machines. Any bank that lends money simply wants to be repaid, and in a timely fashion. Where is the rip-off? I have been in business for over 30 years and I'm amazed at how many small business owners try to scream rip-off when they simply had a case of buyers remorse. Some business owners never read the contract they are signing. Some sales people lie. Well, welcome to the real world. Every legitimate contract that I've ever seen has a clause in it that reads something such as: "This contract includes the entire agreement between parties, nothing either oral or written applies if not included in this contract." Folks,...You sign it, you are obligated to pay back the money. Period. Forget the excuse that, "my salesman lied," "my credit card machine doesn't work right," or "my dog ate my quick-books software." Will you just read some of the "I've been ripped-off comments from people! You are in business, you made a business deal. Harrasment is a different matter. If you think you've been harrased, first, know collection law. Feel like you truly are being harrased? Contact an attorney. Why is this so hard?

I have read the comments regarding Lease Finance Group and each one tells the same story. The consumer, typically a small business owner, is supposedly unaware that he is signing a NON-CANCELLABLE LEASE. I find this very hard to believe. I have offered small dollar leasing to my small business clients using LFG and other leasing companies. Each of these companies, by law, must state on their contract that the lease is NON-CANCELLABLE. LFG, and other 3rd party leasing companies provide money. They, to my knowledge, do not provide equipment, or cars, or boats, etc. Therefore, they are not responsible for said car, or boat, or credit card machines. Any bank that lends money simply wants to be repaid, and in a timely fashion. Where is the rip-off? I have been in business for over 30 years and I'm amazed at how many small business owners try to scream rip-off when they simply had a case of buyers remorse. Some business owners never read the contract they are signing. Some sales people lie. Well, welcome to the real world. Every legitimate contract that I've ever seen has a clause in it that reads something such as: "This contract includes the entire agreement between parties, nothing either oral or written applies if not included in this contract." Folks,...You sign it, you are obligated to pay back the money. Period. Forget the excuse that, "my salesman lied," "my credit card machine doesn't work right," or "my dog ate my quick-books software." Will you just read some of the "I've been ripped-off comments from people! You are in business, you made a business deal. Harrasment is a different matter. If you think you've been harrased, first, know collection law. Feel like you truly are being harrased? Contact an attorney. Why is this so hard?

Its been almost 1 year since I signed up for credit card services from both companies. I really dont know which one was the worse to deal with. I wrote both companies nice letters in the beginning explaining that using there services were not profitable for me. There only response was "you owe us money big time". The sad fact each one had a different amount they were going to charge to break there contract LOL. If you are trying to get out of there clutches,the best thing is to file a complaint with your states Attorney General. I decided to give it a try after reading the hundred or so complaints on this great website. I feel very lucky because I only lost less then $400.00 total for $500.00 in Visa sales LOL. Many of you are bullied by these scammers. I just got a letter finally from Abanco saying they are not going to hit my business account each and every month. Well its a little to late. I closed my business account and opened up a new one. I just dont want to be taken advantage again. After being in business for over 40 years the best payment for my services has been check or cash. In all of my 40 or more years in business I think I have had maybe 2 bad checks. I will never, ever sign up for credit card services again. Its not worth the big expense and trouble once they have your signature. Good luck and the best to all of you. Many thanks to this wonderful website.

I sent a copy of my complaint of the Minnesota Attorney General Form to Lease Finance November 8th 2006.The 20 or more calls per day stopped at 4:50 P.M.on Tuesday November 21,2006.On that day or the one before I faxed them a copy of the Attorney General letter and also a "Cease & Desist"letter.I faxed both copies over and over for 1/2 hour or more to there office in South Dakota where I received 2 letters that they were going to sue me and I had to pay all of there legal fees LOL.It was easy to fax the forms over and over again because that office has a toll free number. I think they got the message LOL.You should be able to find all legal forms on the internet.Good luck and dont be afraid of these scammers.

Thanks Jim...How do I go about filling a complaint to the Attorney Generals office. Do I file in the state Illinois or my home state of Maryland? Is their a website for forms to fill out that you know of that I could go too or a Phone # that might be of further assistance? Thank you for you help and any other info that you think that might help would greatly appciated. Also, I was wondering how long did it take before your problem with LFG was solved? Hope to hear back from you.. Thank You.. Again

It has almost been 1 year that I sighned up with Lease Finance and Abanco.After 4 months and only $500.00 in Visa Sales I wanted out.It cost me almost $300.00 in charges.I had to put stop payment on both companies.In June the phone calls started up. 20 calls per day for over 5 months.I had to buy a call blocker to keep my sanity,but they stilled called my business phone 20 or more times a day.Finally I set the device to hang up after 5 rings because sometimes they would let my line ring for 10 minutes at a time tying up my line and prevent customers from getting through.I finally said enough is enough.I filed a complaint with the Minnesota Attorney General's Office and sent the letter by registered mail.That did the 'TRICK" .I immediatly received a letter from Lease Finance saying that they wanted to resolve the matter quickly and amicably.Also it stated that they agreed to relieve me of any future obligations of the lease aggrement and that the bad marks on my credit report would be deleted. I just filed another complaint against Abanco because they just hit my business account for there annual fee of $75.00.I am thinking of closing my business account and opening another one .I think the only way to deal with these scammers is to "play hard ball "and not be intimidated by them.