ED Magedson – Founder
MBF Leasing, LLC132 West 31st Street New York, New York USA
MBF Leasing, LLC/ Merchant Services/ (((REDACTED))) Fraud Alert New York New York
I've dealt with fraud a few times, but this is the worst and believe me it's a hard lesson learned. There was a guy named (((REDACTED))) that came into our office claiming he can save us money on our credit card processing. He gave me this great sales pitch and seemed like such a great guy and made me laugh even. His pitch was that he can save us money and the reason he can save us money is because of the terminal they would have us use. He guaranteed that we wouldn't be able to find a better deal. And the way it sounded the percentage we were getting charge at the current was a lot higher. So we decided to go with him then and there. He said he'll take care of everything. He filled out the paperwork to cancel with the other company and I signed. Then he had another paper that he filled out and had me sign. He wanted us to start "saving" fast. He explained what I was signing, but made it sound like the amount of the terminal was part of what they charge and he had another paper of the breakdown that "explained" the charges. It was supposed to end up 3% fee and a charge of 24.99 fee. We I was getting charged 3% with Merchant Serves that he represents and I signed a non cancelable equipment finance lease with MBF Leasing that I didn't realize that was. And that Lease was for 249.99 per month for 4 years (48 months) WTF. If I would of actual read it and not listened to the guy I would have never signed it. I should of realized it, because he seemed to be in a hurry for me to sign it. I thought he just wanted to save me money and had to get the paper back to get it started. Now I realize he didn't want to give me a chance to read it.
I talked to my lawyer and he looked over the contract and told me these are the worst kind of contract it's known as a "adhesive" contract. He told me courts tend to disfavor them because it is so one-sided. He told me to immediately inform MBF Leasing that this agreement is terminated and return the equipement. So I called and arranged everything made sure I got a sign copy of them receiving the equipement from Fed Ex and wrote a letter telling them that the agreement is terminated. They still got money from our checking somehow even though I put a stop payment. I went ahead and put a claim on that and terminated that checking account. I heard these people will call me and harass me, but I'm prepared. I also made sure I put a Fraud Alert on my credit because I'm sure they will try and mess up my credit. Point of these Rip off report is to hopefully save others from this and learn from the biggest mistake I have ever made. They ripped me off 2,430 after 9 months. They were charging me 270.61 a month even higher than the so called agreement. Stay away from MBF Leasing, Merchant Services in Concord, CA., (((REDACTED))) of Merchant Services. They are scum on scum.
This report was posted on Ripoff Report on 06/05/2013 03:07 PM and is a permanent record located here: http://www.ripoffreport.com/r/MBF-Leasing-LLC/New-York-New-York-10001/MBF-Leasing-LLC-Merchant-Services-REDACTED-Fraud-Alert-New-York-New-York-1056709. 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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