• Report: #626293

Complaint Review: Time Payment Corp. or TimePayment Corp.

Thank You

Read how Ripoff Report saves consumers millions.

  • Submitted: Fri, July 23, 2010
  • Updated: Sat, December 29, 2012

  • Reported By: Potter — Nationwide United States of America
Time Payment Corp. or TimePayment Corp.
10-M Commerce Way, Woburn MA 01901 Los Angeles, California United States of America

Time Payment Corp. or TimePayment Corp. Lee Ferro dba LEE FERRO and James Shea dba JAMES SHEA and Scott Christie dba SCOTT CHRISTIE / LIFETIME SECURITY Fraud Ring Attempts to Extort Payments on Security Camera Equipment Customers do not Receive then Sues for Judgments if they do not Pay! Los Angeles, California

*Consumer Comment: Update

*Consumer Comment: Latour and Johnson kill your credit

*Consumer Comment: BBB

*Consumer Comment: Fraud, Scam

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

TimePayment Corp., a security camera equipment company based out of Woburn, Massachusetts, bribes businesses and individuals into leasing their equipment by dangling a $5,000 - $10,000-dollar rebate under their noses.

HERE'S THEIR M.O.:
Their front man vendor picks up the lease contract and first month's payment. He then says he'll be back to deliver the equipment and the rebate. He never shows up and the equipment is never installed. No rebate.  You call and cancel the contract within three days. They tell you it's "non-cancelable." They continue to bill you for the equipment. Of course, you are not going to pay because there is NO equipment! The threatening phone calls start. The collector's send pleasantly nasty letters. You tell them there is no equipment. They don't care. They keep repeating: "You signed a non-cancelable lease" and you have to pay. You learn after the fact they have pulled your credit FIVE times! They then report to the credit bureaus that you owe them $14,000.00! Your credit score goes into the toilet. Now you can't apply for real credit. The mother black widow comes in for the kill and threatens to take legal action against you if you don't pay.       RESULT: They have stolen your personal identity, in order to extort funds from you, then threaten you with legal action if you do not pay.
These fraudsters are out for blood and their next step is to get a judgment against me. 

This report was posted on Ripoff Report on 07/23/2010 07:00 PM and is a permanent record located here: http://www.ripoffreport.com/r/Time-Payment-Corp-or-TimePayment-Corp/Los-Angeles-California-/Time-Payment-Corp-or-TimePayment-Corp-Lee-Ferro-dba-LEE-FERRO-and-James-Shea-dba-JAMES-S-626293. 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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

Click Here to read other Ripoff Reports on Time Payment Corp. or TimePayment Corp.

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
REBUTTALS & REPLIES:
0Author 4Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Update

AUTHOR: Paul Kostecky, President - (USA)

You are correct regarding Timepayment corp.  They deal with a bunch of so called "brokers" who basically peddle overpriced equippment and leave leasees stuck footing the bill on outragously high lease payments.  When confront or asked to accept their equippment back they refuse and to accept fair market value choosing instead to attempt to collect the full lease payout which is always twice the cost of the original lease. 

Beware of these scam artists and if you are working with anyone who suggest these people as a source of financing do yourself a favor and break ties with them immediately or risk getting seriously ripped off.
Respond to this report!
What's this?

#2 Consumer Comment

Latour and Johnson kill your credit

AUTHOR: Anonymous - (USA)

I am a separate customer from the person who wrote this article and I also, would suggest anyone who comes across Time Payment to avoid them as much as possible.  I sought a lease agreement for a business equipment and the sales rep approved us for a loan.  After the papers were signed I was handed another set of documents at the last minute
when I couldnt do anything.  Therefore being forced into this contract.

 This business that I did not own has contracted tremendously due to the recession and moved to another space.  Therefore owner wants to renogotiate the contract to reduce the monthly payments or settle on an amount.  Every other vendor had no problem doing this except Time Payment.  Currently the company is at break even with the loan.  Meaning  that they have been paid back the original amount.   We have asked that the HVAC unit be taken back to reduce the amount that is owed and they have been slow in doing so.  It has been over two months and they have
yet to arrange for an appointment.  I have called Chris Burrows for 4 days in a row about setting up a date but it has been over a week and I have yet to receive a call.  In the mean time their collections department is calling me twice a day for payment and reporting negative information to my credit report although we are trying to come to an amicable resolution.  It is not as if I have not take their calls or avoided them.  If they had better professionalism they would know that the steps they are taken are hard line.  Not to mention that there are at least 77 claims made against them with the BBB. 

http://www.bbb.org/boston/Business-Reviews/leasing-service/timepayment-corp-in-burlington-ma-117288 

Whether they are right or wrong, they fact that the claims are there tells you how they do business.  I have currently written Richard Latour, Beverly Johnson, and Steven LaCreta who are either the principal   or an executive of the company to reach an amicable solution and have yet to receive a response.  But continue to harass me for payment
although we are looking for a resolution. 

The manner in which the staff responds is directly related to how Latour and Johnson do business  which is drastically different then how a regular bank would be.
Respond to this report!
What's this?

#3 Consumer Comment

BBB

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

I have filed a report with the Better Business Bureau where I saw that this company is already listed previously.
Respond to this report!
What's this?

#4 Consumer Comment

Fraud, Scam

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

We signed a "lease" agreement for an alarm system in our home through Montitronix.   After about a year of service the company goes out of business and we no longer have montoring or alarm service.   We have to call ADT to come in and replace the equipment and start all over.  However, the lease we signed wtih Time Payment Corp continues to bill us for $55.45 per month for another 3 years.  I told them to come and get their equipment as I have it sitting here collecting dust and they tell me it will cost me $600 to get out of the lease?  I'm not using any service or equipment and told them to turn it in and I am on the hook for $600?????  
Respond to this report!
What's this?
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?

Advertisers above have met our
strict standards for business conduct.



Ripoff Report Legal Directory