Report: #415991

Complaint Review: Lease Finance Group

Submitted: Sun, January 25, 2009
Updated: Wed, February 04, 2009

Reported By: — Charlotte North Carolina

Lease Finance Group

233 North Michigan Ave, Suite 1800 Chicago, Illinois U.S.A.

Phone: 312-980-5600
Web:
Category: Credit Card Processing (ACH) Companies

Lease Finance Group Together With Innovative Merchant Solutions Rip-off contract - non-cancellable Chicago Illinois

*UPDATE Employee: Leasing of Equipment

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0Author 1Consumer 0Employee/Owner

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This LFG company is the worst one I have ever seen in my life, together with Innovative Merchant solutions they ripped me off. Sales rep at Innovative talked me into lease of the credit card machine that cost around 400-600$ but that lease end up in more than $2000 !!! Lease in non-cancellable and sales rep did not tell me real price of that machine, he told me that every one leases those machines and it's a good deal. LFG does not let you cancel the contract in any way. That's a rip-off

Alex
Charlotte, North Carolina
U.S.A.

This report was posted on Ripoff Report on 01/25/2009 12:37 PM and is a permanent record located here: http://www.ripoffreport.com/r/Lease-Finance-Group/Chicago-Illinois-60601/Lease-Finance-Group-Together-With-Innovative-Merchant-Solutions-Rip-off-contract-non-can-415991. 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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0Author 1Consumer 0Employee/Owner

Updates & Rebuttals

#1 UPDATE Employee

Leasing of Equipment

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

SUBMITTED: Wednesday, February 04, 2009

It is true that leases can cost more than the purchase of equipment similar to leasing a car. Many merchants do not have the upfront money to make the purchase and choose to lease instead. The terms of the lease are provided to the merchant and are also verified with the merchant prior to consummating the contract. The merchant is the right at any time to do comparison shopping to determine what works best for his or her business. However, it is true that the leases are non-cancellable and this information is clearly printed on the face of the document. Once the lease is confirmed by the merchant the contract is between the merchant and the lease company and can no longer be altered or cancelled by Innovative Merchant Solutions.