ED Magedson – Founder
Integrity Of Texas - MBF Leasing132 West 31st Street, 14th Floor New York, New York United States of America
The former president of my company signed an "application" for credit card/electronic check processing. The "application" did include a leased machine for processing the cards/checks, and stated a 4-year term for the lease. No specific term for the processing service was stated but assumed to be the same as the "lease" term. After the change in management, I discovered the "application" had somehow turned into a "lease" agreement. In reviewing the document referred to as the "lease" agreement which I had requested to be faxed to me, I discovered that it was the same "application" which had been signed by the former president. In the entire 2-yr period from the signing of the "application" and installation of the equipment, not one credit card or check was ever processed. After extreme efforts to contact EPS to cancel the service which I was told could NOT be cancelled, I raised the point of legality over a service/ or lease agreement which did not include a termination clause. I was able to then cancel the service agreement but was told the lease agreement would be in force until final payment Oct 1, 2009. I returned the equipment and was rewarded with the reduction in costs of the sales tax, property tax, service fees, etc. I sent a confirmation letter of the return of the equipment on January 17, 2008 and further stating the lease requirements would be met on October 1, 2009. On October 12, 2009, after the "final" draft had taked place, I sent another letter reiterating the fact that the lease requirements had been met and there were to be no further drafts.
Unfortunately, I had my computer down for installation of upgrades and was otherwise occupied with clients, I failed to check my account until today, Nov 3, 2009. There on my account was another draft for the "lease" payment. After spending one hour listening to music, etc., I did finally reach a live person, Tiffany at 888-275-3251. Although the answering message never identified the number reached as MBF Leasing, she did recognize my "lease" number and said I would receive a refund check in 2-3 weeks. We shall see.
Under no circumstances do business with MBF Leasing, EPS, or any of the other pseudonyms of this business entity. They are ripoff artists of the highest magnitude and why they are still allowed to conduct business in ANY STATE is beyond my comprehension!!! X#&*#!~etc.
This report was posted on Ripoff Report on 11/03/2009 10:35 AM and is a permanent record located here: http://www.ripoffreport.com/reports/integrity-of-texas-mbf-leasing/new-york-new-york-10001-3405/integrity-of-texas-mbf-leasing-eps-etc-former-president-of-my-company-entered-into-a-cr-518920. 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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