• Report: #958948
Complaint Review:

"LFG"lease finance group

  • Submitted: Tue, October 23, 2012
  • Updated: Tue, October 23, 2012

  • Reported By: isaac — los angeles California United States of America
"LFG"lease finance group
at 132 W 31ST ST new york, New York United States of America

"LFG"lease finance group FRAUD new york, New York

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132 W 31ST ST NY suite 1320  NEW YORK, NY 10001 
On August 5th of 2010 a gentlemen by the name of Alex Garcia came into my store in West Hollywood CA introducing himself as a representative of a large firm and asked me if I was interested in saving a lot of money on my credit card terminal fees.  He asked me for my last 3 months of statements and I gave it to him and he said that I was paying a lot more than what I should be and that his company was offering much better rates.
After calculations he said that he could save me almost 50% to 60% of what I was paying and that the savings annually would be around 4000-5000 dollars per location.
As you can imagine, I was very happy to receive the information and I was willing to sign right away.
As he was preparing the documents he said, by the way, in order to get this deal you have to sign a lease with our sister company for the equipment in order to get the amazing rates we discussed.  I said that I already own and that I dont need new equipment but he insisted and said that the 2 companies are working hand in hand and this is the only way to get the rates he promised.
He made the calculations and said its going to be only 99 dollars a month for the equipment but if you add that to the rates, you still save thousands of dollars annually.  The deal seemed very promising and I signed my 2 locations with Mr. Alex Garcia.  About 3 weeks later I got a call from Mr. Garcia and he said Isaac, Im sorry I was lying to you and if I was you, I would close my bank account and leave the company right away.  He continued by telling me The rates I gave you are a lie and the company I worked for is a big fraud.  He explained to me how it all worked and how they get money from each machine they sell and how they train the sales people to fraud business owners like me.
I called the company right away and told them that I wanted to close the account and they say that was fine but I still had to pay the other company 4800 dollars per machine (which is over 20 times market value).  They also denied knowing Alex Garcia and claimed he wasnt working for the company.  I closed my bank account as soon as I could and then started receiving collections letters.  I talked a few times with the reps of the company and they said that they have my signature and I needed to pay.  They also deny knowing Alex Garcia and said that he was working for the other company.I started getting wake-up calls at 6am in the morning every day.  I was treating to them on a daily basis.  They said the only solution was to pay the money in full or that they would destroy my credit report (which they did).  I learned that this company has thousands of complaints online for fraud and other unethical transactions.  They are also being investigated by the Illinois District Attorney.
About a year later I got the judgment from the state of New York against me saying that I lost the judgment on a case that I was not even served or made aware of (a state that does not even have jurisdiction for something that was signed in the state of California).  To answer this judgment, I had to come all the way to New York City and spend thousands of dollars on a trip.  I hired an attorney in California and now we have an appeal on that case.
This has been an ongoing nightmare and my credit report has been completely destroyed.  My score is now 530 and not 780 as it was before and I cant take care of my business needs any more and worse, 3 days ago the court in New York took $8,900 from my bank account.  I dont know what to do and Im asking for your help.  I have a telephonic call with the judge on October 29th at 10:30am and I need your help and your support on this case.

This report was posted on Ripoff Report on 10/23/2012 02:31 PM and is a permanent record located here: http://www.ripoffreport.com/reports/lfglease-finance-group/new-york-new-york-10001/lfglease-finance-group-fraud-new-york-new-york-958948. 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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