- Report: #245372
Complaint Review: LFG LLC & Merchant Lynx Services - Chicago Illinois
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LFG LLC & Merchant Lynx Services
233 N. Michigan Ave Chicago, 60601 Illinois, U.S.A.
Phone:
888-321-2307
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LFG LLC & Merchant Lynx ServicesLFG LLC & Merchant Lynx Services Credit Card Machine Lease & Credit Card Processing Ripoff Chicago Illinois
I bought a small store in Jan 2006. I took over the credit card machine and service from owner after we passed papers. We did a sub-lease agreement with 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. I also signed up with Merchant Lynx services for credit card procesing. 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 contract and it looks like they are correct. I now realize I have made a big mistake.
I tell them that I sold business at a loss and won't have that kind of money and would they settle for less. No way they say and will file lawsuit.
I then call Merchant Lynx to cancel service. They send me a form that says I owe $350 plus other fees. I look at my contract for Merchant Lynx and don't find any of that wording. I call them and they say it is written on page 3. I only have page 1-2. I looks at bottom of form and it says page 1 of 8. I am missing 6 pages? I don't throw naything away. I also have a copy they sent me which also has only page 1-2. I tell customer service rep to fax me missing forms because I'm sure I would have initialed those pages. I'm still waiting for fax.
I think I will cancel my bank account to stop charges but I am concerned with credit reports as I have personally signed for this stuff. I do believe I was duped but am willing to pay off some sort of "stupid" tax to get rid of this.
Eddie
Venice, Florida
U.S.A.
I tell them that I sold business at a loss and won't have that kind of money and would they settle for less. No way they say and will file lawsuit.
I then call Merchant Lynx to cancel service. They send me a form that says I owe $350 plus other fees. I look at my contract for Merchant Lynx and don't find any of that wording. I call them and they say it is written on page 3. I only have page 1-2. I looks at bottom of form and it says page 1 of 8. I am missing 6 pages? I don't throw naything away. I also have a copy they sent me which also has only page 1-2. I tell customer service rep to fax me missing forms because I'm sure I would have initialed those pages. I'm still waiting for fax.
I think I will cancel my bank account to stop charges but I am concerned with credit reports as I have personally signed for this stuff. I do believe I was duped but am willing to pay off some sort of "stupid" tax to get rid of this.
Eddie
Venice, Florida
U.S.A.
5 Updates & Rebuttals
Eddie
Venice,Florida,
U.S.A.
LFG LLC
#2Author 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
#3Author of original report
Wed, July 11, 2007
Concerning Lease Finance Group LLC --- They will NOT negotiate. I offered to pay 50% of remainder and they flatly refused. I guess I am back to paying the monthly stupid tax for the next 30 months ($2400). I won't pay it up front. Now I know what it feels like to go to a Rent-a-Center. $3851.52 total for a credit card machine. Live and learn.
Eddie
Venice,Florida,
U.S.A.
Merchant Lynx Services - Did the right thing
#4Author of original report
Wed, July 11, 2007
Mike Doyle of Merchant Lynx Services did the right thing. He was able to waive the $350 cancellation fee. Mike has always been a good rep for me and I was always happy with the service. I can't tell you if the cancellation fee is standard policy for most credit card processing companies but I just needed to know that upfront. Thanks again Mike. I want to also say that Merchant Lynx is not connected to Lease Finance Group LLC.
Mike
Fort Myers,Florida,
U.S.A.
Merchant Lynx Sevices has done nothing wrong.
#5UPDATE Employee
Wed, July 11, 2007
As Ed stated he had purchased a business in North Fort Myers in 2005. Merchant lynx Services was notified by the previous owner to come back out. When i arrived I met with Ed and the previous owner. At this time I was informed that the business had been sold. And that the new owner Ed was taking over the the Visa and Mastercard account. I then filled out the application with Ed which he signed. The 350.00 cancellation fee is used widely in the merchant services industry. Which this fee is clearly stated on the addendum which Ed had signed and states that there is a 24 month processing agreement. Ed was then put in touch with L.f.G. from the previous owner. As Merchant Lynx had nothing to do with the lease transfer it was between L.F.G and Ed and the previous owner. Merchant Lynx provided superior Visa, Mastercard processing services to Ed. Who not once ever had a complaint about it. I know this because I had stopped in on several occassions to see how he was doing. I was always met with a smile and a handshake. It is very unforunate for Ed who had to sell his business. And I wish him the best of luck in whatever he does. This is an unwarranted complaint against Merchant Lynx Services. Also Ed was never charged any cancellation fee from Merchant Lynx Services. As I personally closed his account with no fees. Sincerely, Mike Doyle Regional Sales Manager
Eddie
Venice,Florida,
U.S.A.
Lease Finance Group LLC
#6Author of original report
Mon, April 23, 2007
I was on another website and it looks like a rep from LFG is answering complaints. He stands by his company saying that if you go into this agreement with both eyes open, then it's your fault. Basically I think they will collect on most because all of us usually have good credit ratings and don't want a negative in credit report. It also looks like they will go after you hard from day one. I think salesman's tactics when signing the agreement are dubious at best. I guess the LFG LLC motto should be "there is a sucker born every minute". I hope they are proud. It looks like most of us have signed not fully understanding the truth.
