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Lease Finance Group LLC / unethical business practices

1 233 Noth Michgan Ave Ste 1800Chicago, IL, United States Review updated:
Contact information:
Phone: 800-342-7172

This is a copy of a letter I am faxing and mailing to the above company. Do not do business with them in anyway, shape or form.
February 26, 2009
My granny’s attic antiques
9230 pflumm rd (Your records show the wrong address of 13501 w. 90th place)
Lenexa, kansas 66215
To whom it may concern,
Please cancel the services for my granny’s attic antiques, lease agreement (Not agreed on by the retailer) no. 170689
This is the second written notification sent via fax. A request was made by phone on the day after the terminal was received which was january 20, 2008, martin luther king day and the lfg office was closed, (This was day one of the 3 day cancellation period as it is when the equipment and contract were delivered). This is the day that we found out that additional fees were involved and our first introduction to lfg aka lease finance group. When I called lfg to cancel I was given the fax # - [protected] to send the cancellation letter (Please see the attached successful transmission receipt from kinko’s.) when I talked to lfg this week to confirm the cancellation I was told that no cancellation letter was received
The salesperson, vincent leone was also notified on this date to pick-up the equipment and to cancel the agreement due to his non-disclosure of all fees. Mr. Leone did not return my numerous phone calls until february 5th and a meeting was set for the following monday with his “boss” nate. Neither showed up for the meeting and there has been no communication with mr. Leone since despite several phone calls to him.
The contract with tmg/transtech merchant group has been cancelled effective february 1, 2008
According to the federal trade commission:
1. If you receive supplies or bills for services you didn’t order, don’t pay, and don’t return the unordered merchandise. You may treat unordered merchandise as a gift. By law, it’s illegal for a seller to send you bills or dunning notices for unordered merchandise, or ask you to return it — even if the seller offers to pay for shipping. Further, if the seller sends you items that differ from your order in brand name, type, quantity, size, or quality — without your prior express agreement — you may treat the substitutions as unordered merchandise. Unordered services are treated the same way. However, first consider the possibility that the seller made an honest mistake.
I did not order equipment from lfg. It was our understanding that we were leasing the equipment from transtech merchant group so any additional leasing arrangements were made by tmg/transtech merchant group. If they have a contract with lfg to supply equipment then it is their responsibility to remove the equipment from the premises when a contract with them (Tmg/transtech merchant group) has been terminated.
It was not disclosed to us that lfg even existed much less that we were entering into a contract with them.
2. The ftc’s telemarketing sales rule offers additional protections in business-to-business sales of non-durable office or cleaning supplies and most sales of goods or services to individuals, groups, or associations. The rule requires telemarketers to tell you it’s a sales call — and who’s doing the selling — before they make their pitch. They must tell you the total cost of the products or services they’re offering, any restrictions on getting or using them, and that a sale is final or non-refundable before you pay. It’s illegal for telemarketers to misrepresent any information, including facts about the goods or services being offered.
Rule #2 was not followed by tmg/transtech merchant group when the service call was made in my place of business.
• the total amount was not disclosed
• we were not told that we had to carry a rider on our insurance to cover the cost of the equipment or be billed an additional $4.95 per month.
• we were not told that an additional equipment leasing company (Lfg) would be involved and additional fees would apply for their services.
• we were told that the total monthly fees would be;
O $29.98 for equipment leasing and services
O $9.50 (X 2) for statement fees – storefront and online store
O.25 batch settlement fee
O the per transaction fees for accepting credit cards
• there was a 30 day cancellation period for all products, services and equipment.
Also, the initials on the notification of cancellation paper that was received with the delivery of the machine are not those of anyone present at the time of the contract signing with transtech merchant group.
This salesperson was unscrupulous in his manner of doing business and did not leave a copy of the contract with us nor did he allow us to make a photocopy. He took advantage of the fact that the store was busy with customers and when asked to summarize the pages of the contract he said it was “just standard mumbo jumbo.” he was also drinking on the job, standing at my checkout counter drinking a beer. We offered him a bottle of water or, in a joking manner a beer and he went for the beer.
I have purchased my own credit card processing equipment ($99.00) and have switched to a trustworthy company therefore the equipment that was provided to me by transtech merchant services is no longer needed.
My last call to lfg, I asked for an rma number and address and was told that the lease was non-cancellable so I could not send it back but was then given an address in new york to mail it back. Transtech has washed their hands of the entire situation despite their agreement with lfg. The credit card processing equipment ordered for me by transtech merchant services is packed and ready to be picked up. Based on what I have read about lfg online at the rip-off, I am afraid to send the machine back as they will claim they did not receive it.
It is our desire to move forward from this nightmare situation and get it resolved. Lfg no longer has the correct banking information through which to withdraw money so it is in the best interest of all to terminate this “relationship.”
We would like to point out the phone number provided to my bank by lfg is not their actual phone number, it is for a weight loss company. Also upon checking the new york address given to me none of the companies at this address are affiliated in anyway with lfg in anyway.
Regards,

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Comments

  • Fr
      2nd of Mar, 2009
    +1 Votes

    i have the same story in charleston sc, what a scam. Mine is with Leasesource inc, same address and phone numbers as lfg. I was initially lied to by evolution business services, daniel island sc.

  • Sm
      17th of Nov, 2009
    +1 Votes

    This has happened to me. Our 4 year lease has been up for 4 years and I returned equipment but they are still taking money and harassing me by phone. If this is their buisiness plan to be crooks or con men they should pay for this. If I had the money I would take them to court.

  • Vi
      1st of Feb, 2010
    0 Votes

    This is happened to me too. LFG is a awful and terrible company they are bunch of crooks.

  • Bu
      5th of May, 2010
    0 Votes

    I have written a letter to the FBI about LFG and I suggest everyone else do the same. If they get enough complaints then perhaps they will investigate this company for theft and fraud and we can watch them go down on 20/20.

  • Gr
      26th of Aug, 2010
    +1 Votes

    i have the same issues with these guys, in fast i'm getting a laywer to go up against them this company is bs, i'm not paying them a dime

  • Bs
      15th of Oct, 2010
    0 Votes

    I agree with everything said so far. They claim there lease is unbreakable!! I had to close my bank account (on advise of my banker) to stop them from taking funds from my account after I sent their machine back and hadn't been using their service for months. They continue to call at least 4 times a day if not 6 or 8 and their representative is very aggressive to the point of being threatening.

  • Bi
      5th of Oct, 2011
    0 Votes

    I have same issue with you, I paid four years for the lease, return the machine, but they still want pay, who can tell me which agent we can complaint for this,
    FBI? the Attorney of General? City of Chicago?

  • Re
      12th of Dec, 2011
    0 Votes

    Same thing with me. I actually called to buy out my equipment at the end of my 4 year lease. I was told there was no buyout, that I was just renting month-to-month. I didn't have the original contract to dispute so I told them to cancel my lease, anyway and I'd just buy a machine elsewhere. They were only too happy to offer me a new machine at 9.95 per month for 4 years. I agreed. Upon investigating unauthorized charges I found out through customer service that my original lease had a buyout of 10% of the original lease amount after the 48 months. I called the rep and told him that was not disclosed and to cancel my new lease and that I wanted to purchase the equipment. His story started with "there is no buyout" then went to "I didn't offer you the buyout because your equipment will be obsolete in 2 months" to flatly refusing to do anything. I closed my bank account and got an attorney. My attorney told me to submit two letters - one first class, one certified - to provide written notification of my cancellation due to non-disclosure. I have since contacted my credit care processing company and they assured me that they were not affiliated with LFG in any way and that my terminal would not just quit working in January 2012.
    I can't believe that there hasn't been a class-action suit against this company. There have been over 580 complaints filed with the Chicago BBB?

  • Tj
      18th of Jul, 2014
    0 Votes

    We had a similar situation with them. They are crooks (in my opinion). We entered into lease agreement with Retriever - a separate company, who sold the lease to Lease Finance Group. The lease ended 7 months ago but they kept automatically charging my bank account every month since then. We called Retriever several times and they told us it had been taken care of. They did not tell us that the lease had been sold to Lease Finance Group. Finally a customer service agent at Retriever told us the lease had been sold. We then called Lease Finance Group and was put on permanent hold several times. We realized that this was their tactic to get people to give up. However, they very quickly pick up the phone for sales, so that is how we finally got through. They pointed us to paragraph 18 of the lease which places the burden on the customer to notify the lease holder 30 days before cancellation or it will automatically renew. We told them that our lease was with Retriever and we did notify Retriever in writing, but that we did not even know that Lease Finance Group existed and had no privity of contract with them. Then they changed their story to "we sent you a welcome package." I told them that it was probably regarded as junk mail because we had no relationship with them, and that a "welcome package" does not constitute a new contract. They would not listen to legal arguments, equitable arguments, or moral arguments. They said that they would not issue a refund and were going to continue to make monthly charges until they received the worthless equipment back. Finally, I had to just mentally write off the past seven months of payments, and had to close my bank account so that they could not make any more charges. Their collections people can come after me if they want. I am a lawyer. Frankly, I don't want to waste my time with them but I will if I have to.


    If their is a lawyer out their who does class action suits, this should be pursued on behalf of the entire class of people who are similarly situated. Call me to discuss.


    Tom J. Manos, Esq.
    (305) 341-3100 (Miami)

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