- Report: #201731
Report - Rebuttal - Arbitrate
Complaint Review: MBF Leasing, Universal Merchant Services, Fifth West Bank
MBF Leasing, Universal Merchant Services, Fifth West Bank132 W. 31st. ST., 14th FLOOR NY, New York U.S.A.
MBF Leasing, Universal Merchant Services, Fifth West Bank ripoff, deceptive sales practices, victim seeks remedy New York New York
*General Comment: 949-861-4000 UNKNOWN 1000000001
*UPDATE EX-employee responds: MBF is the leasing company associated with the compay that siged you up for processig....
*Author of original report: mbf leasing, northern leasing, leasecomm? Any info..Please Help!!!
*Author of original report: Correction: FIFTH THIRD BANK
*UPDATE EX-employee responds: Hello Anna what was the name of your rep?
Even though I realized some time later that the lease fee on the equipment was very high in comparison with other equipment leases, I continued to pay it because I had agreed to do so. After two years, the decision was made to close our retail store. I contacted MBF Leasing to return their equipment to them and they gave me the instructions and then told me to hold on while they calculated the amount of the check that I should enclose in the box. I was expecting them to come back with a pro-rated amount on the $70 lease fee that I had been paying monthly, but instead they came back and said that I needed to buy out the remainder of a 4 year lease at the cost $1495. I would never have agreed to a 4 year lease.
To make matters worse, because the company was not established I started it as a sole proprietorship and was required to sign a personal guarantee. Has anyone else had this as part of their contract?
Because the company is closing, I anticipate that I will be closing out the bank account within the next couple months, so I can get around the auto withdrawls. Has anyone had an experience where MBF Leasing pursued this beyond harrassing phone calls? Has anyone had this show up on their credit report or been sued by MBF? I am trying to decide how to handle this.
These people are scum and need to be stopped. I am going to report them to the BBB, FTC, and contact the Atty. Generals of both CA and NY.
If anyone knows of any recourse or way to legally get out of paying this, please advise.
Los Angeles, California
This report was posted on Ripoff Report on 07/18/2006 03:19 PM and is a permanent record located here: http://www.ripoffreport.com/r/MBF-Leasing-Universal-Merchant-Services-Fifth-West-Bank/NY-New-York-10001/MBF-Leasing-Universal-Merchant-Services-Fifth-West-Bank-ripoff-deceptive-sales-practice-201731. 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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