Linda
Brisbane,#2Author of original report
Sat, July 14, 2007
In response to your rebuttal: So Ryan McQuitty, you surfaced again. You did drop out of the picture as soon as the deposit was mailed. As for the LLC Operating Agreement, it was emailed to me by my attorney's office, forwarded to you. Additional docs were also mailed to you and all copies are available to prove it. You and Preferred Lease NEVER secured any approval for any equipment and I have the vendor to testify to that. You gave the vendor the run around as well. As for the claim that you tried for months to work with me, it is of course a false claim and a flat out lie. Your company did put Beckham Thomas in touch with me though, but only to intimidate, threaten and insult me. The only contact I received from your company to work things out was from Jim Reader and that was only after I filed a complaint with the LA Better Business Bureau. Even then, the promises he made did not come through, and he stopped returning calls as well. Seems like this is the trend your company takes.
Ryan
Santa Ana,#3REBUTTAL Individual responds
Mon, May 14, 2007
In October 2005, I contacted Linda and Kamel Totah to see if they were interested in financing any equipment for their business. I sent them a proposal along with the terms and options that we agreed on, for the financing of their custom fabricating equipment. I requested an initial deposit to cover the 1st and last months payment, along with their signed commitment to proceed with the lease. Contrary to their claim, I did not drop out of the picture at all. As soon as we received their signed commitment and deposit check, my immediate supervisor, Beckham Thomas, contacted Linda to finalize the documentation process, so we could proceed to funding. Linda's most egregious omission in her recollection, is that we did indeed secure an approval for her in fact, we secured 2. A simple LLC Operating Agreement was all that was required as part of the final documentation package (which she refused to send, for the deal to fund). Linda is contractually bound, as part of the initial term sheet, to sign all funding documentation presented for funding. Clearly, if there were material changes to the terms of the proposal, eg payment increases, or unreasonable documentation demands (deed to additional collateral), I would concede to her argument, and be honor bound to refund her deposit, even at a loss to the company. However, the deposit was not sent back to Linda, because it was used to secure an approval for her equipment acquisition, and she refused to comply with our documentation request. We tried for months to have her work with us, but we could not come to any mutual satisfaction. I even advised her we could keep the deposit on file to fund future lease transactions.