Report: #965718

Complaint Review: Lease Finance Group (LFG) Payment Systems

  • Submitted: Tue, November 06, 2012
  • Updated: Sat, February 09, 2013
  • Reported By: Joe — California United States of America
  • Lease Finance Group (LFG) Payment Systems
    132 W 31st St. 13th Flr
    New York, New York
    United States of America

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On August 11, 2011 a representative from Payment Systems came to my store to offer a credit processing service, assuring a reduction in cost by one half the amount Wells Fargo Bank charges. The agreement was a flat rate of $99.00 per month on all ATM card purchases if I accepted to sign up for a 48-month lease agreement. After I signed up with them and after receiving the first and second statement, I noticed that the overall charges were higher than the previous processing company (Wells Fargo), contrary to the agreement.
I tried to contact the representative and/or someone in the company to explain the charges and to provide me with online access to my account with them. After many attempts, I was informed that they will email me with a password to get access online to check my statement. This never happened and they never answered my calls after that to assist me or answer my inquiries.
On January 10, 2012 I faxed a cancelation notice and a request to send back their equipment. Then I tried several times to contact them to assure delivery of the fax to no avail. On January 24, 2012 I talked with Lilia from the Los Angeles office and she asked me to resend the cancelation notice again, and informed me she would get back to me once she received it. She never contacted me to let me know whether or not she received the fax, or with the outcome of her decision.
I have received several bills from Lease Finance Group to pay the monthly charge of $99.00 plus late and finance charges for non-payment. I have received many calls and threats to pay the full lease amount which I forwarded to Parker* Stanbury attorneys at Law. I explained the events and the attorney sent a letter to void the lease due to misrepresentation and fraud. Lease Finance group never stopped harassing me on the phone at all hours, which drove me to offer a settlement, and to clear my credit report from the negative remarks they reported. Another attorney contacted the Lease Finance Group, account manager to offer settlement instead of threatening to sue me in New York, in addition to the costs associated with fighting a law suit. The account manager insisted on collecting the full amount including finance charges under threat to file a case in New York forcing me to pay.
My latest Attorney advised me to submit a complaint to the Attorney General of the State of California after collecting information in regards to Lease Finance Groups negative dealings in California and Arizona.
I am looking forward to fighting this companys unfair and fraudulent representation, in addition to voiding the agreement based on their misrepresentation.
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This report was posted on Ripoff Report on 11/06/2012 07:52 PM and is a permanent record located here: 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. READ: Foreign websites steal our content

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#1 General Comment

ripped off too

AUTHOR: mike s. - ()

I've had the same experience with this company. My small claims court date is next month, but would love to see these guys out of business. Please contact me at (((ROR redacted))). Thanks!  Mike

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#2 General Comment

similar situation in california

AUTHOR: mike s. - ()

I would like to make contact with you as I have had the same situation occur with me and am interested in joining a class action lawsuit.

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#3 REBUTTAL Owner of company

I was ripped off by LFG as well, I am located in Canada



I was so upset when I realized that I was supposed to have been on a 3 year term, the representative that came into my store advised that I return my machine back to my bank and buy one with her from Monex group.  I signed up and encouraged my neighbor to do so as well.  After running my business, paying my monthly fees and service charges, 7 years later I realized I was not contacted, a letter was not send that I own my machine as their agent advised.  I contacted Monex group and they advised that I would have to contact LFG? But I signed up with Monex Group, contacted LFG, for seven years they got $24.18 every month no bounced payments, etc.  I was told by LFG, that I could own it for a cost of an additional $250.00? So I was so upset, I let them know my concerns and that they and Monex lied to me advising that I would outrightly own my machine in 3 years, the representative went on to say that it was my responsibility to contact them after 3 years, not their responsibility to do so? What an outrage! I was so upset, so they advise that if I can pay that now, the machine would be mine however there was a kicker...If I buy the machine outright and anything happens to the machine, I am on my own? What? After paying an additional 4 years of $24.18, they could not even get a 2 year compensation in case the machine does not work? So they advised that I should stay with them for an additional year and a half and then buy it out of $79.00.  Now this month of June 2013, apparently the payment actually bounced, got a couple calls from LFG and they are demanding the payment that was reduced to $20.79, that when can I make payment.

 Furthermore, I had a failing out with Monex for they wanted to charge me big fees some 2 years ago and I cancelled all services with them, so I basically have the machine but haven't used in that 2 years, so in speaking with the respresentative at LFG, he advised that the contract is up in July 2013 and if I want to buy it out, it will cost me an additional $150.00 or if I do not want the machine, that I must give it back to them? WHy does the government allow fraudsters such as LFG and Monex Group to rip off small businesses, like this? WHy? I will be calling and escalating this to upper management for I do not see as being fair for hard working self employed people, who are just trying to get buy and support themselves and their businesses.

Disgruntled business owner in Toronto, Canada

It is an outrage....If some can fight my case to get back a fraction of my money, I would be eternally grateful!

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#4 Consumer Comment

Payment Systems in Wisconsin

AUTHOR: Frustrated in Wisconsin - (United States of America)

I have also been affected by payment Systems. Today I got another 1000.00 taken from my account for fees. I have tried everything possible to reason with this company, they are evil and need to be stopped. Any one know of a law suit that is active?
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#5 Consumer Suggestion

Recently settled with these crooks, here's some info

AUTHOR: CWW - (United States of America)

Hi, to you who has been sued in NY court, I spoke to the NY AG handling the case against LFG and all the various shell companies that they operate under.  You do NOT have to appear in court physically, she told me you CAN APPEAR BY PHONE.  You will need to contact the court clerk to set it up.  You should write a letter to the NY AG detailing your situation and also giving your phone  number.  

File a complaint with the FTC, the FBI, and your state's consumer fraud unit.  My client was about to get sued in NY court (we are in CA) and we basically paid to have them postpone so I could attempt to settle it.  We offered a very generous settlement like 50 cents on the dollar of what we owed, but there was negotiating.  Ultimately, my client paid out a sum of money in exchange for a Release.  The good news is that in this Release that you will get you are not waiving any of your rights to sue them, become compensated as part of a class action and so forth.. So, if you pay to get them off yoru back and get your credit back, consider it hopefully something you will recoup.

I have talked to several government contacts at places like the FTC and they said when you file your complaints do it in a way that sets forth proof they LFG have committed a crime of fraud or whatever.  Google the elements of the crime and set it forth.  ALSO if there are enough of these situations, you should start looking for law firms who will take this case as a class action on a contingency basis against these crooks.  There just needs to be someone to organize everyone against them.  ALSO the case in NY court is limited to issues of accounts being debited after the contract had already expired.  SO the more letters they get of additional fraud, the more likely they can go after them for MORE 

Write your letters to the NY AG.  Consider Settling your claim with LFG, get the release, and then go after them.  That is what I advise. Good luck

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#6 Consumer Suggestion

In my way to fight LFG

AUTHOR: Steve - (United States of America)

Im in my way to fight these frauds. Got my credit report screwed by them. Got it reported to CA, IL and NY general attorneys but wouldt help much. CA GA said they wouldnt resolve business business issue, IL n NY attorney couldnt help much except keep it for record. FTC logged it in and no answer from then.

I have the trial day in April 2013 and I have to travel all the way to NY from CA to defense myself. However, I m filing in a small claim court a counter claim in California trying to get these frauds to California for the damage they had done to my Credit report. I dont hope to win but try to get them to go all the way to California to defense themself. The same tacti that they used against us. Let s see how it turns out. I ll update.

Any suggestion will be appreciate. We need to find a way to help everyone to fight these crooks off.
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#7 Consumer Comment

NY Att.General Filed LawSuit Against LFG

AUTHOR: CWW - (United States of America)

In April 2012 the NY Attorney General filed a law suit against a company called Northern Leasing and it's affiliates including Lease Finance Group LLC.  Call this number 1-800-771-7755 it is the NY Fraud Hotline, but refer to these groups and they will forward you to someone working on the case.  Additionally, there are at least 2 class action law suits happening now.  LMK if you learn more.
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#8 Consumer Comment

I am also a victim of this company

AUTHOR: Erik T. - (USA)

I have made several attempts to cancel my account with this company as well without any success. I sent a cancellation letter in May and the account is still active.  I filed a complaint with the California attorney general and I got a letter back stating that this is something they don't handle.  I also spoke to Lilia and she told me that my cancellation letter is being reviewed but yet six months later nothing has been done and my account is still being debited. I don't know what to do anymore at this point.  I spoke to an attorney and he told me that this was something that would be handled in small claims so I would have to take care of it myself and fight them back with the negative background the company has racked up.  He said to cause them problems and expose them by calling a local t.v. network, the BBB, the Federal Trade Commission, and the California AG. If you find and successful way of dealing with this company please post it up, I would greatly appreciate it.
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#9 Consumer Comment

Also being ripped off by LFG

AUTHOR: CWW - (United States of America)

I noticed that you are talking to an attorney and filing a complaint with the Attorney General's office.  I would love to be in touch with you as my client is in a similar situation and we are looking to see who else is out there dealing with this horrible company in California.

Thank you
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