• Report: #937731

Complaint Review: Five Point Capital

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  • Submitted: Thu, September 06, 2012
  • Updated: Fri, October 17, 2014

  • Reported By:Rural Hall North Carolina United States of America
Five Point Capital
10525 Vista Sorrento Parkway #304 San Diego, California United States of America

Five Point Capital Company Scams Business Owners San Diego, California

*Consumer Comment: Stand your ground!

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We received an offer to finance our vending machines from Five Point Capital. It looked like what we  needed to finance our machines; unfortunately that was our first mistake.

We spoke to Chris Donnelly and he explained the tax benefits of leasing and made it sound like a great deal. Unfortunately he did not explain the whole deal!!!! We signed the lease and made all payments to Fleet Financial. We were glad when we finally finished paying them.  Well to our surprise I am told by Fleet to contact Five Point for some kind of buyout..which I never heard of before then!

 I contacted Five Point and received and email from Raffi Varjabedian saying that since I finish paying the lease I have to send them $2,595 for the vending purchase price....when I tell him that I have paid the lease and that is this was only a way to purchase this equipment he sent me an email with the lease that is unreadable and in tiny blurry letters and claims that we signed and now we owe it! On top of that when I told him I paid Fleet already he told that did not matter I owed them $2,595. He was rude on the phone so I basically quit communicating with them..about 2 months later I get a bill from Five Point Capital for the same monthly bill I was paying Fleet!!!

I called them again and got Raffi....I wonder if he's the only one working there... he told me that I did not send a 120 day letter stating that I did not want to lease but buy the machine and now the lease has automatically renewed for another year which totally blew me away at that point... that was not even told us at any time!!!!

I then got the email from Sandra Ortero; I will not deal with her either.. they must take rude training at this company to deal with customers. They have now turned us over to an attorney so I do not know what will happen. Our company has gone out of business because of the economy.

Do not, under any circumstances, do business with this company!!!!! They do not tell you the whole truth when you are dealing with the customer service. I have also reported them to the San Diego Better Business Bureau...which really did not help, but at least it's there. I would be interested in joining a class action suit if anyone knows of one out there


This report was posted on Ripoff Report on 09/06/2012 06:21 PM and is a permanent record located here: http://www.ripoffreport.com/r/Five-Point-Capital/San-Diego-California-92121/Five-Point-Capital-Company-Scams-Business-Owners-San-Diego-California-937731. 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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#1 Consumer Comment

Stand your ground!

AUTHOR: Sophia - ()

 They need to be taken to court and shown they cannot and or continue to take advantage of others. Please contact me at (((REDACTED))) Really appreciate your time. Mahalo!

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