Complaint Review: CIT Lease Finance Group, Select Merchant Service - Chicago Illinois
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- Author Confirmed
- CIT Lease Finance Group, Select Merchant Service 233 N Michigan Ave. Suite# 1800 Chicago, Illinois U.S.A.
- Phone: 888-321-2307
- Web:
- Category: Sales People
CIT Lease Finance Group, Select Merchant Service big time ripoff - very deceptive practices Chicago Illinois
*Consumer Suggestion: LFG will not stop to go after your and our money.
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On December 3rd 20003 I signed up with Retriever for credit card processing. At that time I apparently also signed up to lease my credit card processing machine from CIT Lease Finance Group. I was presented a blank contract and was told that he was in a hurry and would fill out the contract and send it back to me. At that time my previous machine was all paid off and I owned it!
I admit I made a mistake in signing a blank contract. I was never told it was a four-year deal. The first I found out about a four-year contract was when I received a thank you for joining us letter from CIT Lease Finance Group dated December 24, 2003.I immediately called and told them that I was never told of a four-year deal and was never given a copy of the contract. I was informed at that time that I was basically stuck. At the time I only had 1 year left on my store lease. I never would have agreed to a 4-year contract for anything.
I made the mistake of trusting their representative, whom I understand did not actually work for their company. I do feel that they should watch their reps tactics even though they do not work directly for them. They are presenting themselves as if they do. They should be held accountable.
In October of 2004 I did move to a smaller location and signed a three-year store lease, which is up in Oct of 2007. At this time I am pretty sure I will close this store when the lease runs out. I just signed up with Crescent Processing Company which provides the equipment for free and has agreed to a one-year agreement. I still have to pay CIT Lease Finance Group for a machine I no longer have a use for.
I will spend the next year trying to get out of CIT Lease Finance Group's lease.
Larry
Dover, Ohio
U.S.A.
This report was posted on Ripoff Report on 09/14/2006 09:13 AM and is a permanent record located here: https://www.ripoffreport.com/reports/cit-lease-finance-group-select-merchant-service/chicago-illinois-60601/cit-lease-finance-group-select-merchant-service-big-time-ripoff-very-deceptive-practice-210983. 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
LFG will not stop to go after your and our money.
AUTHOR: Phu - (U.S.A.)
SUBMITTED: Wednesday, September 20, 2006
Your story as many victims wrote in this site.
I was one of these victims. I fight very hard and they terminated my lease after one month of trying.
I get an email of other Lady in CA, whom her lease is terminated today Sep-20-2006.
So do like what we did, fight them hard or nothing will solve. It did work out for us and you can too.
Continue to wrote letters complain to all authority as suggested in this site, it work in long run, because LFG do not want too publicity on these cases.
CIT financial is parent company of LFG, they are billions dollars company, they involve many lawsuit in fraudulent lease (one to be with Dell computer customer).
They founding these small LFG to legalized scamming small business owner, in which they are more successful because most does not have resource to sue them.
They are teaming up with many lawyers; find the way how to make their prey unaware of scamming technique they use, they quite of success in this field, because they caught many of us off guarded.
So if one of us try to fight with them, we may be never out of the loop, can we sue them or not, if we do where the money to fight, so use couple thousand dollars to fight or just close bank account and run away from them, may be many of us choose second way to do.
The questions why LFG have to settle like in my case, because they do not want go to trail. They will not win over us, even we sign the paper. They do not want we win in court; it will bring them the domino effect.
So even you do not want to sue them, go ahead do like you will, does not need to call them just let them know you will sue them, they will call you back in heart beat. I did one so I know, they call me when I get my paper work ready to file.
I am sorry for what you go through, I was in same depress situation, please keep fighting, you will be won in the end.
Many case had been solve (will take some time) you may be the next, fight them indirectly, do not try to call or explain to them, they only react when you done enough to make them feel uncomfortable.
Good luck, try to unitedtofight together.
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