- Report: #238663
Report - Rebuttal - Arbitrate
Complaint Review: MBF Leasing - Leaders Mechant Services
MBF Leasing - Leaders Mechant Services132 West 31st St, 14th Floor New York, New York U.S.A.
MBF Leasing - Leaders Mechant Services ripoff Hidden Leasing terms New York New York
*Author of original report: MBF Leasing
*Consumer Suggestion: Gregory, Quit trying to blame Leaders!
*Consumer Comment: Leader and MBF Leasing are the same
*UPDATE Employee: Leaders Merchant Services does not and cannot instruct merchants to return leased equipment when we close a merchant credit card processing account an
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After some discussion with Leaders, Leaders agreed to terminate our contract, which they did do, and also stated that the terminal equipment could be returned if necessary. As Leaders was acting as an Agent for MBF Leasing, the termination of the contract with Leaders also terminated our lease for the equipment - as described within Texas Law.
We found another merchant account and were told that the equipment we had was not compatible with their system. We purchased a new terminal at that time. We asked Leaders who to send the old equipment to, and they said MBF. We did send all terminal equipment back to MBF.
MBF Leasing claims that the contract can not be terminated and that we still owe in excess of $1000.00 and must either pay the lease in full or continue to monthly payments. The account was closed from which MBF was drawing the funds monthly. Next thing I knew was that MBF was drawing funds from another account that I had. This was done without my permission, and IS ILLEGAL in any state. Now we are getting the pesky phone calls at least 8 times a day (which is also Illegal), and the threatening letters.
The facts are that Leaders did act as an agent for MBF. And as such, any commitment made by them and terminated by them, was made and terminated for all parties involved. Secondly, MBF DID violate the law by somehow obtaining information about my other banking account and taking funds from that second account without my expressed permission. Additionally, MBF did receive the equipment back at the direction of their agent, Leaders.
As with most folks, taking this to court will cost more that the equipment lease. So we are all railroaded into a situation that is apparently not governed very closely and has run amuck. The only solution is class action as I look into my response.
This report was posted on Ripoff Report on 03/09/2007 11:21 AM and is a permanent record located here: http://www.ripoffreport.com/r/MBF-Leasing-Leaders-Mechant-Services/New-York-New-York-10001-3405/MBF-Leasing-Leaders-Mechant-Services-ripoff-Hidden-Leasing-terms-New-York-New-York-238663. 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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