Complaint Review: Time Payment Corp. or TimePayment Corp. - Los Angeles California

You are correct regarding Timepayment corp.  They deal with a bunch of so called "brokers" who basically peddle overpriced equippment and leave leasees stuck footing the bill on outragously high lease payments.  When confront or asked to accept their equippment back they refuse and to accept fair market value choosing instead to attempt to collect the full lease payout which is always twice the cost of the original lease. 

Beware of these scam artists and if you are working with anyone who suggest these people as a source of financing do yourself a favor and break ties with them immediately or risk getting seriously ripped off.

I am a separate customer from the person who wrote this article and I also, would suggest anyone who comes across Time Payment to avoid them as much as possible.  I sought a lease agreement for a business equipment and the sales rep approved us for a loan.  After the papers were signed I was handed another set of documents at the last minute
when I couldnt do anything.  Therefore being forced into this contract.

 This business that I did not own has contracted tremendously due to the recession and moved to another space.  Therefore owner wants to renogotiate the contract to reduce the monthly payments or settle on an amount.  Every other vendor had no problem doing this except Time Payment.  Currently the company is at break even with the loan.  Meaning  that they have been paid back the original amount.   We have asked that the HVAC unit be taken back to reduce the amount that is owed and they have been slow in doing so.  It has been over two months and they have
yet to arrange for an appointment.  I have called Chris Burrows for 4 days in a row about setting up a date but it has been over a week and I have yet to receive a call.  In the mean time their collections department is calling me twice a day for payment and reporting negative information to my credit report although we are trying to come to an amicable resolution.  It is not as if I have not take their calls or avoided them.  If they had better professionalism they would know that the steps they are taken are hard line.  Not to mention that there are at least 77 claims made against them with the BBB. 

http://www.bbb.org/boston/Business-Reviews/leasing-service/timepayment-corp-in-burlington-ma-117288 

Whether they are right or wrong, they fact that the claims are there tells you how they do business.  I have currently written Richard Latour, Beverly Johnson, and Steven LaCreta who are either the principal   or an executive of the company to reach an amicable solution and have yet to receive a response.  But continue to harass me for payment
although we are looking for a resolution. 

The manner in which the staff responds is directly related to how Latour and Johnson do business  which is drastically different then how a regular bank would be.

I have filed a report with the Better Business Bureau where I saw that this company is already listed previously.

We signed a "lease" agreement for an alarm system in our home through Montitronix.   After about a year of service the company goes out of business and we no longer have montoring or alarm service.   We have to call ADT to come in and replace the equipment and start all over.  However, the lease we signed wtih Time Payment Corp continues to bill us for $55.45 per month for another 3 years.  I told them to come and get their equipment as I have it sitting here collecting dust and they tell me it will cost me $600 to get out of the lease?  I'm not using any service or equipment and told them to turn it in and I am on the hook for $600?????