Report: #866431

Complaint Review: Universal Funds/Middletown, CT

  • Submitted: Tue, April 10, 2012
  • Updated: Fri, September 14, 2012
  • Reported By: Charlies Auto — Hesperia California United States of America
  • Universal Funds/Middletown, CT
    360 Main St Ste 2 A,
    Middletown, Connecticut
    United States of America

Universal Funds/Middletown, CT Universal Design, Universal POS, Romi Merchant Services LLC, Universal Merchant Solutions, Comdata, Romi MS Rip us off for the sum of 2000.00 Middletown Connecticut

*UPDATE Employee: Rebuttal

*UPDATE Employee: disgruntled employee

Show customers why they should trust your business over your competitors...

My initial contact with this company, was for a "cash advance" type loan, thru MY credit card machine. After our first discussion, I was told, I would have to buy "Their" credit card machine. Which I did NOT agree to do. Their process, ended up NOT even using a credit card machine. Then they went ahead and shipped me a credit card machine, for sum of $487.20, which I refused receipt from FED-EX. Was not credited back my funds taken for such, from my bank account. And they have possession of their machine, Also charge our account for the sum of 576.80 for and appt / fee.

Next I was charged $918.40 for early cancellation, for a contract that was NOT even completed nor signed by myself to complete this loan as offered.

Loan offered was $10,000(net deposit $9605.00) IF Funded to my bank account, which I could NOT touch/use any of.
They would take, $395.00 "loan fee",
then a $97.68 daily, @ 129 days , total repay
$13,800.00, for monies I could NOT even have use of. So where is the benefit of doing such a loan??? Reason why I never fulfilled this contract/agreement with Universal funding. Also we filed a Complaint with BBB # 84098459 they did nothing to help us with this company, the only thing that company is good for is to rip you off and THEY will take your money.
Is this Ripoff Report About you?
Ripoff Report A business' first line of defense on the Internet.
If your business is willing to make a commitment to customer satisfaction Click here now..

Does your business have a bad reputation? Fix it the right way. Corporate Advocacy Program™

Set the record straight: Arbitration Program

SEO Reputation Management at its best!

This report was posted on Ripoff Report on 04/10/2012 11:18 AM 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

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Report & Rebuttal
Respond to this report!
Also a victim?
Repair Your Reputation!

Updates & Rebuttals


#1 UPDATE Employee


AUTHOR: Customer Service - (United States of America)

This merchant was working with our sales rep in getting him lower rates on his processing and a cash advance for his business. Our sales rep explained everything of how the process worked on getting him funding. The merchant was sent our applications , contracts  for processing and our data sheet which lists our fees. The merchant was told to read everything , sign it and return it to us. We obtained lower rates on his processing that would save him money he needed to buy a new terminal which he did because his existing one was proprietary and could not be downloaded with our new processing company.We downloaded the new terminal for him and sent it to him via fed ex. While the terminal was sent to him the merchant was approved for a  cash advance for $10,000.00 the only thing was the payments were going to be withdrawn directly from his bank account and not thru his daily batching because he didn't batch out enough on a monthly basis and the funding company didn't feel comfortable waiting on this merchant to sporadically batch, so they opted for an ach program so they can receive payments on a daily basis. This merchant is very confused on how this program works, we tried to explain the program again to him many times to him to no avail. The merchant canceled his cash advance and processing and refused the terminal that he paid for. The merchant was charged a cancellation fee that coincides with the sales agreement he signed. We tried to deliver the terminal several times and he finally accepted it. We did everything to satisfy this merchant but unfortunately he broke contracts with our company. This merchant also placed a complaint with the BBB regarding this issue and they decided in our favor that we did everything possible to help this merchant.
Respond to this report!

#2 UPDATE Employee

disgruntled employee

AUTHOR: UMS FUNDS - (United States of America)

The information stated in regards to the company are false concluding this report to be only of a disgruntled employee.
Respond to this report!
Ripoff Report Recommends
ZipBooks Accounting Software

Advertisers above have met our
strict standards for business conduct.