Complaint Review: Lease Finance Group - Chicago Illinois
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- Author Confirmed
- Lease Finance Group 233 N. Michigan Ave, Suite 1800 Chicago, Illinois U.S.A.
- Phone: 888-321-2307
- Web:
- Category: Credit & Debt Services
Lease Finance Group ripoff credit card processing equipment lease that never ends Chicago Illinois
*Consumer Suggestion: This is the case big scam company vs small business.
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As a small business, we have to accept credit cards. We went through 2 credit card processing companies, one of which went out of business. We leased a Nurit 2080 card processing machine in 1999. We cancelled our contract in 2003.
We found out recently that $60.20 were deducted every month from our bank account under the terms of equipment lease. No one told us the contract would be renewed automatically unless we returned the equipment.
Besides, we never heard of the Lease Finance Group until now. We cancelled the contract with the credit card processor, Express Merchant Processig Solutions, not LFG.
So, over 7 years, we paid close to $5,000.00 for a machine worth barely $275.00! We are told from LFG that they won't pay us back because we failed to return the equipment, as stipulated in the contract we signed.
What a nice juicy scam they have going! And we are not the only ones, as we found out when we googled them and discovered the Ripoffreport!
We are filing a complaint with Better Business Bureau and we are trying to find if there are other victims in our state, Maryland. We are also contacting Maryland's State Attorney.
On the positive side, there is a solution for small businesses that want to accept credit cards: we do it through Quickbooks. You do everything on your computer. It's fast, easy, the rates are reasonable and you don't need any equipment!
Bruno
Rockville, Maryland
U.S.A.
This report was posted on Ripoff Report on 06/08/2006 02:13 PM and is a permanent record located here: https://www.ripoffreport.com/reports/lease-finance-group/chicago-illinois-60601/lease-finance-group-ripoff-credit-card-processing-equipment-lease-that-never-ends-chicago-195479. 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 Consumer Suggestion
This is the case big scam company vs small business.
AUTHOR: Crystal - (U.S.A.)
SUBMITTED: Saturday, June 10, 2006
It is shamefully when the big company as CIT Financial USA, doing billions dollars yearly, set up some smaller Lease Finance Group LLC to take advantage small business like your company.
CIT Financial USA did involve class action lawsuit when they do financing for Dell customers, the lawsuit involve in hidden fee, I do not know it still going or it already settle.
I get little confuse by the relation of Lease Finance Group LLC and CIT financial USA, I think they are different company, because the big company like CIT financial USA set up some thing like this, but it is clear now, they are the same company, I check on their filling, it show almost identical date when they file in IL and NY.
You can go ahead filing with IL General Attorney Office; I think many cases pending there. File BBB is ok but will have no big impact. these company have over 300 complain, so one more is just no bother them any way.
Remember file FTC online, scan your document before filing so it will be easier.
It will be uphill battle, because the cost to sue them may be more than what you lost now. However if you doing nothing it will make these scammer go stronger, they use your money to find new victims.
If you budget allow go ahead talk to your Lawyer (Mr. Ed can refer you one if you contact him directly). I do not know how Lease Finance Group LLC can win.
The class action lawsuit only forming in two condition, more people like you connect together (many will not know this site) so you can do more if you want to fight for principle, you can email to local and national news outlet (the more email the most effective), online forum, your friends, even run small ad in newspaper. Or this scam technique expose in national news media.
I saw some people in this site suggest many idea, but I think any idea will work fine, so file your complain first, it is a major step to take care your case and do something to connect to other people in the same matter as support group.
It may be thousands victims never know this site; most they can do is cancel the back account and let these company ruin their credit.
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