• Report: #328404
Complaint Review:

Lease Com

  • Submitted: Wed, April 23, 2008
  • Updated: Wed, April 23, 2008

  • Reported By:Santa Cruz New Mexico
Lease Com
10 M Commercial Way Woburn, Massachusetts U.S.A.

Lease Comm Lease Com unbreakable contracts, fees beyond 48 month contract for lease to own credit card processing equipment. Woburn Massachusetts

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In April 2002 I signed a contract with MBF Leasing (877-342-5623) agreeing to lease credit card processing equipment from them for 48 months. Payments were made by automatic debits of $45.95 and fees ??? that came to about $51.00 each month from my business checking account. My understanding was that at the end of the 48 months I could return the equipment and exchange it for newer equipment if needed or keep it as it would be paid for in full at that time.

In 2006 I had 2 serious heart attacks and eventually ended up recieving Social Security Disability. My income from Social Security was not enough to pay my creditors and I filed bankruptsy. I had to surrender my business and inventory and equipment to my employees who still own and operate it.

The business account still had funds in it that I was not aware of and Lease Com continued to withdraw payments from the account until there were no funds left and the account was closed due to NSF in November 2007.
Now I am being hounded by Lease Comm to pay over $500.00 past due on the contract plus the current purchase price of new equipment. The equipment from Lease Com was replaced with other newer and more up to date equipment that I am told was purchased new from Sam's Club for less than $300.00. The equipment from Lease Com was never used after January 2007 when I was forced to leave due to health problems that lead to my current disability.

I explained to Lease Comm when they called me a week ago (April 2008) that I would arrange to return the equipment but could not afford to pay off the debt they claim I owe them because due to living on a small fixed income from Social Security and financial assistance from my children.

I was told that they will continue to call me and do whatever they can do to collect the debt I owe them.

My credit was ruined when I went bankrupte in 2006 and I do not have the ability to pay Lease Comm the debt that I dispute because of the 48 month contract that I never recieved a copy of.

Fallen angel tattoo
Santa Cruz, New Mexico

This report was posted on Ripoff Report on 04/23/2008 03:39 PM and is a permanent record located here: http://www.ripoffreport.com/reports/lease-com/woburn-massachusetts-01801/lease-comm-lease-com-unbreakable-contracts-fees-beyond-48-month-contract-for-lease-to-own-328404. 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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