ED Magedson – Founder
TBF Financial Collecting on Faulty Equipement Leases Beware!!!740 Waukegan Road, Suite 440, Deerfield, IL 60015 Deerfield, Illinois United States of America
TBF Financial: Vultures taken advantage of downed economy!!!
My company in 2006 leased a large format printer from Lanier. Since the day it was delivered and being set up there were problems. After two years the printer never would hold its color calibration and we pleaded from the beginning with Lanier to replace the machine if they could not fix it. Orders from corporate was to fix the machine they were not going to replace it. The cost of the machine was $88,000. After two years Lanier sold out to Ricoh. Our machine was never fixed or replaced a lemon by all aspects of the word. Our lease was with Wells Fargo and they too about that time sold our lease to TBF Financial. We had paid over $65,000 in good faith always assuming the machine would get fixed. We are left with a machine that has been moth balled and cannot use and then this past year received a lawsuit from nowhere from TBF.
TBF never once made an attempt to even call or try and determine why payments had been stopped when the lease was sold out. Not even a thought to ask us if we new our lease payments were to be made to TBF now and not Wells Fargo. They filed suit. Before going to court, they wanted to settle for $20,000. My company did not have it especially knowing we paid over $65,000 and have nothing to show for it. We asked them to have the machine fixed they said they had no responsibility to maintain the lease.
Anyone can see like most any other business in this country where we would be standing at this point. You have a faulty piece of equipment, paid over $65,000 out of the total $88,000 and nothing for that money spent and cannot get it fixed and now a new collection company is asking for a settlement of $20,000 when we have nothing to show for the $65,000 plus already paid. We offered to pay them what a Lanier / Ricohs office said it was worth which was $7,000 and they would not take it.
Beware of TBF and their vulture attitude in collection no matter what the circumstance even at Christmas 2010. They bought the excising balance on the lease for pennies on the dollar and now have been awarded by the court a higher dollar than the balance due to not having to maintain the equipment. Where is Lanier in all this, they are being contacted as well. And to another point, we have had two other leases on Lanier equipment and have hem today and using them and they are paid off. Not just one but two additional leases, paid off. We spoke with Bret Boehm in detail about this. The best words I have heard, I ask him would they not under these circumstances work out a payment arrangement, he stated if I were to go back to my partners and request a release on the garnishment we have locked in on you now, to take a payment arrangement, I would be fired.
Well I guess that says it all. By the way, he is one of the Boehms that own TBF. Beware and us every measure under the law to stop being taken advantage of!!
Merry Christmas TBF Financial!
Wait until the National Press has the Press Releaseartical on thier actions in the issue above. CNN, Fox and all media. Colection companies such as this will be reported as this is Main Street at its best taken advantage of the down side of small business in America.
This report was posted on Ripoff Report on 12/21/2010 11:45 AM and is a permanent record located here: http://www.ripoffreport.com/r/TBF-Financial-Collecting-on-Faulty-Equipement-Leases-Beware/Deerfield-Illinois-60015/TBF-Financial-Collecting-on-Faulty-Equipement-Leases-Beware-Bret-Boehm-TBF-Financial-Co-673958. 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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