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Report: #1476416

Complaint Review: Geneva Capitol Lease - Minneapolis MN

  • Submitted:
  • Updated:
  • Reported By: LHubbard — Houston United States
  • Geneva Capitol Lease Minneapolis , MN United States

Geneva Capitol Lease Geneva Capitol LLC Did no keep the written agreed deal on debt Minneapolis MN

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We leased gym equipment from Geneva because the Franchise told us it was a better option to taking out a small business loan. I spoke to Mike and thought it was a good choice because if the gym failed he said we could return the equipment and made us feel that it would be no problem. Well we should have gotten the small business loan because the interest on Geneva's lease is too high and we paid 18K over almost 2 years and still owed most of the amount due.

The problem is our business failed and we called Geneva and they offered us 5K for 49K worth of equipment and wanted us to pay the remaining balance. So we decided to sell the equipment ourselves and Mike with Geneva pressured me to return the equipment to him. He negotiated with me and told me he had a buyer for 15K and would apply that to my balance and I would owe 23K so I returned the equipment.

Then a woman Contacted me telling me I owe 40K and that the deal did not go thru and now they are suing me for 40K. I have documentation of everything and I want them to honor their word stop collections. We are out of business due to capitol shortage, we lost everything except our home.





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