ED Magedson – Founder
MBF Leasingburr rdg, Illinois United States of America
I work for one of the big banks in the business department. My job is to sell credit card processing to my customers. Upon checking on a customer I noticed did not process with us I was informed by her that she had left us because she was promised big savings thru transfirst. She has every communication and statement ever sent to her, including the original cost comparison done by the rep. It was 1 page with two columns showing prices for processing and some badly copied fine print at the bottom regarding the mid and non qualified rates they always neglect to disclose also. This was the ONLY thing this customer had signed.
She reported to me that when she asked the rep if there would be any other fees associated with their service the rep responded, no it is all inclusive! Well for over 3 years now she has been getting charged about $110 a MONTH for some old machine. This is for 48 months! That is $5,280! Look it up, leases usually range from $30 - $60 per month. If that in and of itself is not a rip off, I dont know what is!
Anyone writing on here that it was the business owners not reading what they are signing is full of it! There is no agreement presented to the customer and certainly no phone calls to verify the terms. The fact is the reps make WAYYYYYY more money when they sign someone to a lease and the proof is in the $4,800 profit being made on it! No one in their right mind would willingly agree to pay that much for something that costs a very tiny fraction of that to purchase!
I say call them and demand a copy of the contract you signed agreeing to that lease. Demand they furnish you with the recording of any calls explaining the terms and making sure you understand them. I dont believe they can go after you for a lease that was never signed by you! You would think with this kind of money being involved, it would be more than worth a class action lawsuit at LEAST. This particular customer has already paid over $4000 to them and they would expect her to pay over $1000 more to get out of the agreement! In what 3rd world country is this fair??? How do these scum sucking bottom feeders look at themselves in the mirror?
FIGHT THEM! FIGHT THEM WITH EVERYTHING YOUVE GOT!
This report was posted on Ripoff Report on 09/18/2009 06:39 AM and is a permanent record located here: http://www.ripoffreport.com/reports/mbf-leasing/burr-rdg-illinois-/mbf-leasing-mbf-major-rip-off-from-someone-in-the-industry-burr-rdg-illinois-496811. 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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