Mbf Leasing / Continued Fraud

1 US Review updated:

Like many others, I fell for the MBF Leasing scam. In July 2005, a salesman named Dave from Vericomm approached me with the promise of saving me money on my credit card processing fees. I didn't know that we already owned our own equipment, and lured by the promise of lower fees, I decided to jump on the opportunity. He explained that in order to have these savings, I had to sign an equipment lease from his company for $159.95 per month, for 48 months. I SIGNED IT! YES I DID!

Later, of course, I realized that this same equipment I had leased for 4 years could be purchased for a few hundred dollars at Costco or elsewhere, and that I was paying almost $8, 000 (more, since MBF started charging me MORE than this amount, for some unknown reason). Because I felt ashamed, and because I figured that it served me right to learn my lesson, I continued to allow them to debit my bank account each and every month since then.

But now, it's September of 2009. They are STILL taking money from my account, even though our lease agreement has ended as of July 2009. Okay, I've paid for my lesson, thank you very much. Now I would like them to return the money to me that they wrongfully took out. I have called three times, left three messages (after holding for approximately 4 to 7 minutes each time), and can you guess? No response.

I am now in the process of closing my bank account so that they cannot withdraw money anymore, and you can be sure they'll call me back at that point. Stay tuned...

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  • Pa
      Sep 21, 2009

    I wish I had googled MBF leasing before siging the contract. The same thing just happened to me. A Telesales Person from Paragign Direct called and the appointment was set. After three meetings with the sales rep out of the San Francisco office I signed. I closed my checking account right after the first $83.95 debit. When I called Paradigm, they said to offer their lower rates they needed to charge the $5000.00+ for a $210.00 credit card processing machine. Ouch!!!

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