• Report: #182046

Complaint Review: CIT Financial - Lease Finance Group - Innovative Merchant Solutions

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  • Submitted: Sun, March 19, 2006
  • Updated: Fri, September 01, 2006

  • Reported By:Albany New York
CIT Financial - Lease Finance Group - Innovative Merchant Solutions
233 N Michigan Ave, Ste 1800 Chicago, Illinois U.S.A.

CIT Financial - Finance Group - Innovative Merchant Solutions fraudulent deceptive sales practices harassing debt collection practices Chicago Illinois

*Consumer Suggestion: i too am dealing with LFG

*Author of original report: LONG overdue Update - I WON!!!!

*Consumer Suggestion: Same situtation

*Consumer Suggestion: Same situtation

*Consumer Suggestion: Same situtation

*Consumer Suggestion: Same situtation

*Author of original report: IMS "appears" to be stepping up

*Author of original report: Thank you for your support

*Consumer Suggestion: It's possible to stop bill collection efforts

*Consumer Suggestion: Jami...here's how to stop the calls...

*Consumer Comment: ftc better business bureau & attorney generals useless

*Author of original report: FTC No help - OK to Harass Customers!

*Author of original report: CIT FInancial - Lease Finance Group & Innovative Merchant Solutions: Fraudulent and deceptive sales practices, harassing debt collection practices; Chicago and Calabasas, CA

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Innovative Merchant Solutions misrepresented the lease by CIT Financial/Lease Finance as a "60 day risk free trail" [sic] in order to obtain my signature on a 48 month non-cancellable lease. CIT Financial/Lease Finance has engaged in excessive telephone calls, two to three times a day, every day except Sunday since I changed banks to avoid their automatic debit (CIT changes dollar amounts every month so block them by merchant and not amount if you can't switch banks.)

In the long run, I would be paying $3000 for a satellite credit card machine worth less than half of that. I NEVER would have signed the lease if I had known it only applied to the credit card processing and not the machine, which is likely why Innovative Merchant Solutions lied to me to obtain my signature.

Between the Rip Off Report, the Better Business Bureau, the Attorney General of the State of New York, I hope someone will hold these people responsible for their fraudulent business practices.

Jami
Albany, New York
U.S.A.

This report was posted on Ripoff Report on 03/19/2006 10:35 AM and is a permanent record located here: http://www.ripoffreport.com/r/CIT-Financial-Lease-Finance-Group-Innovative-Merchant-Solutions/Chicago-Illinois-60601/CIT-Financial-Finance-Group-Innovative-Merchant-Solutions-fraudulent-deceptive-sales-p-182046. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 13Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Suggestion

i too am dealing with LFG

AUTHOR: Johnny - (U.S.A.)

the worst thing you can do is allow the "customer service rep" on the other end of the line to know how frustrated you are with their phone calls...10+ times a day. these CSR reps are morons sitting in a boiler-room situation...they're fast food rejects. that being said, it's relatively easy to tell, from their accent, what ethnicity they represent. under normal circumstances i wouldn't do this, but these people have pissed off the wrong person. i'm not afraid to use the revered "N-word" or tell one of these jokers i know what their mother did for their ride across the border in the back of a semi. this truly has cut WAY down the number of times these jokers call! try it, it's a great way to blow off some steam too!
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#2 Author of original report

LONG overdue Update - I WON!!!!

AUTHOR: Jami - (U.S.A.)

It was hell but I finally prevailed. There are a few reasons why I WON (insert the IWON funky endzone dance here):

1) I had a document that said I had a "60 day risk free trial" that did not specify that the offer was for Innovative or Lease Finance Group. The presumption is on the seller - Innovative - to prove otherwise.

2) Against my judgment but on the advice of an attorney, I returned the merchandise, the machine, at the end of the 60 days. I was later told by Innovative that it had been put back into circulation and they "did me a favor" by "buying out my lease". Yeah, right. Thankfully I listened to my attorney. (rule 1: consult an atty, everyone should have one who is a friend who will do this for free or at minimal cost).

3) I routinely faxed the "President" of the company, harassed the LA BBB for prematurely closing out my claim without any substantiation that it had been satisfactorily addressed by Innovative; and called the "Senior Account Executive" Mr. Yalinkatian, who scammed me into signing on. If they can harass me, I can do the same.

4) On one of my final faxes to the "President" of Innovative, I scrawled at the bottom "PLEASE HELP ME" after one of the operators at Lease Finance called me back and yelled at me after I hung up on her, after telling her to "F%&K Off" out of sheer frustration. Calling someone 10 times per day will have that effect, which I readily admitted to.

It was three months of hell that distorted my personality and made me paranoid to answer the phone. I DID NOTHING WRONG and was treated like a deadbeat.

The key, as I've learned is to either harrangue them as much as they do it to you; or to treat the situation with a bit of humor but make your case in a non-derogatory manner. Stay tuned for my Circuit City/Chase hassle... DO NOT DO THE X MONTHS NO INTEREST UNDER ANY CIRCUMSTANCES!!!!

Hang tough and fight consumer injustice. But buy and sign smart so you don't have to. EVERYONE is out to screw the consumer these days.
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#3 Consumer Suggestion

Same situtation

AUTHOR: John - (U.S.A.)

Lease Fiance group was calling my business at least 10 times a day also. I finally spoke to one of there reps and told him that i was taping the conversation and that i was going to file a harassment charge if they didnt stop calling. The guy gave me a bunch of grief and i just hung up on him. That was 3 days ago and now the calls have stopped to one call a day. The one call is a recording and you never get a live person. I have written these people a letter stating i have returned there machine and will not be paying them. I figure i will have to write letters to the credit bureaus once they mess up my credit.

I have written letters to the AZ attourney general office and the BBB. So far no response from any of them. I think Lease Finance group is just one of the many companies that take part in this scam. I bet if we looked up some other little outfit that does the same thing we would find another 50 complaints. This kind of stuff should be illegal.
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#4 Consumer Suggestion

Same situtation

AUTHOR: John - (U.S.A.)

Lease Fiance group was calling my business at least 10 times a day also. I finally spoke to one of there reps and told him that i was taping the conversation and that i was going to file a harassment charge if they didnt stop calling. The guy gave me a bunch of grief and i just hung up on him. That was 3 days ago and now the calls have stopped to one call a day. The one call is a recording and you never get a live person. I have written these people a letter stating i have returned there machine and will not be paying them. I figure i will have to write letters to the credit bureaus once they mess up my credit.

I have written letters to the AZ attourney general office and the BBB. So far no response from any of them. I think Lease Finance group is just one of the many companies that take part in this scam. I bet if we looked up some other little outfit that does the same thing we would find another 50 complaints. This kind of stuff should be illegal.
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#5 Consumer Suggestion

Same situtation

AUTHOR: John - (U.S.A.)

Lease Fiance group was calling my business at least 10 times a day also. I finally spoke to one of there reps and told him that i was taping the conversation and that i was going to file a harassment charge if they didnt stop calling. The guy gave me a bunch of grief and i just hung up on him. That was 3 days ago and now the calls have stopped to one call a day. The one call is a recording and you never get a live person. I have written these people a letter stating i have returned there machine and will not be paying them. I figure i will have to write letters to the credit bureaus once they mess up my credit.

I have written letters to the AZ attourney general office and the BBB. So far no response from any of them. I think Lease Finance group is just one of the many companies that take part in this scam. I bet if we looked up some other little outfit that does the same thing we would find another 50 complaints. This kind of stuff should be illegal.
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#6 Consumer Suggestion

Same situtation

AUTHOR: John - (U.S.A.)

Lease Fiance group was calling my business at least 10 times a day also. I finally spoke to one of there reps and told him that i was taping the conversation and that i was going to file a harassment charge if they didnt stop calling. The guy gave me a bunch of grief and i just hung up on him. That was 3 days ago and now the calls have stopped to one call a day. The one call is a recording and you never get a live person. I have written these people a letter stating i have returned there machine and will not be paying them. I figure i will have to write letters to the credit bureaus once they mess up my credit.

I have written letters to the AZ attourney general office and the BBB. So far no response from any of them. I think Lease Finance group is just one of the many companies that take part in this scam. I bet if we looked up some other little outfit that does the same thing we would find another 50 complaints. This kind of stuff should be illegal.
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#7 Author of original report

IMS "appears" to be stepping up

AUTHOR: Jami - (U.S.A.)

I'm still being called up to TEN times a day by Lease Finance Group, even after Innovative Merchant Solutions has told me they received the equipment in JANUARY and it it BACK INTO CIRCULATION! They also told me that they would call off the pack, which hasn't happened for more than a day.

Meanwhile, I was charged in Jan and Feb (thanks to a credit union's terrible customer service).

Three people there, IMS, have told me that I would get a letter, a refund, and the harassment would stop. Not happening.

The BBB CLOSED my complaint based on the company's response (apparently the complainant is irrelavant), and I have seven days (business, I would think) to file a rebuttal. Ok. Their totally consumer unfriendly web site doesn't appear to have a rebuttal button, even after I have logged in.

DO NOT SIGN A CONTRACT WITHOUT HAVING A LAWYER READ IT. A $100 or so fee can save you in the long run. Contracts are snake oil, don't be fooled by the unctuous salesperson.
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#8 Author of original report

Thank you for your support

AUTHOR: Jami - (U.S.A.)

Nobody wants or should incur a 7 year bad debt on their credit report, especially through fraud. It will keep you from getting credit or loans when it is actually in your best interest to incur some debt (i.e. mortgage, auto). About 1/2 a life ago I worked in collections, briefly. What a yucky thing to do. These people have no skills except directed anger.

At that time, I opted into a third party collecions liaison position, referring department store debt to a second party to collect age old debt. On my initiation, $3 million of old, stale debt was referred out. When those people wanted to get a mortgage, I was either their angel or antagonist, with authority to take settlements and correct credit reports. I know the game, and will be playing hardball with these jerks.

At this point, I don't need a mortgage, loan or new credit so if the besmirch my report, so be it. The Feds are shaking me down on exhorbitant interest on student loans, but I'm still going to peel of a check to these people for having this web site.

For the record, they (CIT/LFG) haven't been verbally abusive, but that is likely because I've refused to answer "unidentfied" callers. The advice to change my no. is good, but I have hundreds of business cards out there with that phone no. on it. Somehow, they also got my cell no. So now I can't answer anyone who comes up unidentifed or blocked.

If I tell them where to go in a pre-emptive strike, they put me in heavy rotation. Cite law and they hang up on you and you get six more calls the same day.

Gotta go, it's time to call Joe. ;)
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#9 Consumer Suggestion

It's possible to stop bill collection efforts

AUTHOR: Billy - (U.S.A.)

It's possible to stop bill collection efforts using your State's Statute of Limitations (SoL) for enforcing debts!

Most debts expire! That's right, almost all debts eventually expire. Put another way, the legal time limit for enforcing the collection of a debt can expire. It's called the Statute of Limitations and every state has its own SoL rules. Most unsecured debts expire 4 - 6 six years after going into default. Some debts such as federal student loans and federal and state taxes never expire. Judgments may have a statue of limitations as long as 20 years and, in some states overdue child support never expires!

If you've been contacted about an old debt, AND you're sure it's yours, then you need to decide whether to pay the debt or not. Although there are many moral, personal and legal issues to consider before making a decision; one thing you should always verify is whether or not the statutes of limitations for enforcing the debt has expired. Doing so allows you to make an informed decision check out fair-debt-collection. online

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.
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#10 Consumer Suggestion

Jami...here's how to stop the calls...

AUTHOR: Steve - (U.S.A.)

Change your phone# !!!!

Get an unlisted one. You can change it for FREE if you tell the phone co that you are getting threatening calls from an unknown caller.

You need to write a complaint and send it to the consumer affairs division of the AG.

Good luck
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#11 Consumer Comment

ftc better business bureau & attorney generals useless

AUTHOR: Charles - (U.S.A.)

Better business bureau, ftc, & the better business bureau does not make the business come across they are useless its time to get the word out about how the federal government lets business get away with theft & harassment from collection & does nothing i mean nothing to make the business to make complaints. These three complaint divisions take the side of the business & not the custormer it is getting worse & i am afraid what will happen if this issue does not get better this is not gonna get better so why have the ftc if they are going to be agaisnt a consumer just like the better business bureau & attorney general office who don't protect peoples rights.
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#12 Author of original report

FTC No help - OK to Harass Customers!

AUTHOR: Jami - (U.S.A.)

Apparently since Lease Finance Group is not a third party creditor, they are free to harass me by calling up to now SIX times a day! Isn't it nice to know the feds allow this type of unethical business practices. Isn't it nice to know in America you can lie, cheat and steal with impunity. No wonder we pay so much for every day expenses, companies like this get away with fraud and theft.

I decided to call Mr. Joe Yalinkatian, Senior Account Executive at Innovative Merchant Solutions EVERY time Lease Finance Group calls me. Since I was out of town Friday and Saturday, I owe him a total of 8 telephone calls. Since he lied to me to obtain my signature, he's going to have to live with it just as much as I am. I asked Innovative to write a letter explaining that they obtained my signature under false pretenses. That was Thursday, faxed to the President's office. We will see.

Meanwhile, I filed two complaints with the BBB that I can allegedly "view at any time". However, they failed to give me a complaint number so they are absolutely no help.
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#13 Author of original report

CIT FInancial - Lease Finance Group & Innovative Merchant Solutions: Fraudulent and deceptive sales practices, harassing debt collection practices; Chicago and Calabasas, CA

AUTHOR: Jami - (U.S.A.)

Filed a complaint with the FTC today (3/20/06). They keep calling me in violation of the Fair Debt Collection Act even though I faxed them a letter telling them that I am being represented by an attorney. Next step, Attorney General.
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