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TimePayment / Participanted in a Scam with Security Systems, Inc. Midwest Division

1 Kentucky, United States Review updated:

We thought that we were the only ones to have been scammed by Microfinancial, Leasecom, TimePayment, Corp. Your information is right on about MicroFinaical and these adhesion contracts… we didn’t even intitial the contract pages, didn't even see them, the right vender wasn’t even named on the contract as the vendor (Security Systems, Inc), they used another company's name .. We discovered all of this after we received a copy of the contract (4 months after the fact. ) Now they are harrassing us and making threating phone calls. We have defenity been scammed, do you know of an attorney there working on this . The Vender Misled, LIED, signed our initials, filled in information after.. all of which part of the scam. Between Time Payment, Corp (sub of Leasecom, Microfinancial) . Sad way to build a company.

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Comments

  • Ky
      12th of Apr, 2011
    +1 Votes

    I have the same issue with equipment lease with Time Payment Corp through Benseron, and trying to contact them to solve the problem, but don't know how.

  • Ti
      29th of Apr, 2011
    +1 Votes

    This company did the same thing to me! The had me sign something stating that they installed a water machine and several months later they filled in other info on the page making it look like I agreed to a 5 year contract! TOTAL SCAMMERS!!!

  • Ma
      1st of May, 2011
    +1 Votes

    We are senior citizens. We contracted with P & A Security Company who was affiliated with TimePayment Corp. After paying faithfully for a year we came home one night and found the alarm had been triggered. We called them for help. NO ONE CAME.. An hour and a half later we learned the address that P & A Security put on the account was not ours. The police went to that address no ours. Whoever set the alarm off had fled ... but had we needed help no one would have come. They didn't know where we lived. I called and wrote to P & A Security but they totally disappeared. However ... demands for payment just keep on coming from Microfinance and TimePayment Corp. I told them to take it up with P & A Security. And ... that as far as we're concerned they should apologize to us and just go away. We may take them to court to settle this.

  • Ti
      6th of May, 2011
    +1 Votes

    I have just filed a complaint with the attny generals office and I suggest that you do the same.
    They should not be aloud to get away with this.

  • La
      25th of Jan, 2017
    0 Votes

    @tired of being scamd I'm going to. Please, did you complained to KY Att Gen? Thanks

  • Tb
      20th of Jul, 2011
    0 Votes

    This company has some of the rudest people working for them. There was a simple confusion regarding having insurance on some equipment. They put that clause in small print and started charging us $11 / month for it. Once I got the letter about needing insurance, I immidiately got the cert to send it into them. When I called to rectify, they told me they would not refund the $11 that they charged just a couple of days prior. They pretty much told me T.S. I had to pay. This is not how you treat customers who have just started service with you. I will never sign another lease with these people, and they sure as heck aren't getting my $11. Stay far away from these jerks.

  • La
      25th of Jan, 2017
    0 Votes

    @T. Bell2 I've got the same crap, the insurance, among other things. I'm complaining to Attorney G.

  • Lb
      31st of Dec, 2011
    0 Votes

    You should file a complaint with the BBB, currently their rating is a A+ meaning they are a good standing company.
    I am just starting a business and the equipment company connected us with TimePayment Corp. After everything I have been reading this company is bad to deal with, saying one thing and providing something different.
    We applied for a loan to finance the equipment we needed for the new business, we were sent a Non-cancelable commerical equipment lease agreement. My partner called the contact who assured him that this was a loan not a lease but the paperwork clearly stated this is a lease and after 36 payment we would have to return equipment or renew the lease. Also agreement states monthly payment amount will change month to month. We are not siging anything with this company.
    Thank you for posting your reviews on this company!

  • Mi
      21st of Aug, 2018
    0 Votes

    @lbdecloedt The bbb will always keep a business with an A rating as long as they pay bbb fees . I'm a business and have a real A with bbb . Bbb is a total scam also

  • Cl
      10th of Jan, 2012
    0 Votes

    DO NOT DO BUSINESS WITH THIS COMPANY!! We bought a piece of equipment from a 3rd party and was under the impression that we were financing the equipment through Time Payment Corporation. It turns out that the equipment was leased, not financed. This gives them the right to charge the amount that they would like, not what we were supposed to pay. This machine should have been $5600.00, but they made it $8890.00, which I thought was the amount of the full length of the loan. We planned on paying it off after a few months, so the final amount was not a concern. When we did try to pay it off, we found out that we were on the hook for the whole amount! On top of that, we also have a 10% payoff, which is another $900! So by the time we are done, we will be paying almost $10, 000 for a $5600 piece of equipment! I understand that ultimately it is our fault for not reading the fine print, but you don't expect companies to drag you over the coals and feel justified for doing so. I am not alone, as you can see from this website, or from [redacted].com, and somehow they still have an A+ rating with the Better Business Bureau! Don't let that fool you. They are predators, and I would encourage others to not deal with them.

  • Ni
      13th of Dec, 2016
    +1 Votes

    @Cloud 9 Please contact me similar situation if we stick together

  • Rk
      18th of Dec, 2016
    0 Votes

    @Nice cutie my ex husband and i purchased a furnace from local dealer, to finance it they sent Time Payment. They stated there was a lease attached to the loan but not to worry because our home insurance would cover it and cancel the lease.
    After the furnace was installed and we signed the papers we called our insurance company agent. He said that you can not insure one piece of equipment like a furnace as it;s already insured as part of the home.
    We financed $2900.00, paid that off in 15 months and are now paying an additional $3000.00 for the lease AND when that's paid for we have to BUY the furnace from them for the amount of two payments.
    We contacted BBB and the Attorney general. There is nothing they can do, it's a contract, attorney general said to try to take them to small claims court.
    Yeh right. Who do you think will win?
    It's the biggest scam out there and no one is doing a thing to stop this company, they should all be put in jail.

  • La
      25th of Jan, 2017
    0 Votes

    @Nice cutie I'm having the same issue. My email trblaser@yahoo.com.

  • Cl
      8th of Mar, 2012
    +3 Votes

    I too was scammed by these companies. I bought an alarm system from PCA security- leasing through Time Payment. A year after paying on the contract I came to work to find my store front complety destroyed, and the alarm never went off. after further investigation- I found that the alarm was never even hooked up, the equipment was fake. the alarm system wasnt even compatible with my phone, and all that testing and confirming the installation guy did was fake. he literally drilled a hole in the wall- stuck a cord in there to make it look like electrical was hooked up, and that was it. And when I asked for answers i got blown off. After tons of research and legal advice i have found that i am just one of hundreds of people that was scammed by these companies. PCA wasnt even licensed when i signed the contract with them. and now, Time Payment wont leave me alone. I havent paid in over a year. They can shove it!!! The calls used to be harrassing, and i have saved everyone of them. now, they just keep calling- and i give them my attorneys info, and then they say they never got it. they wont sue me, i wont pay them, and they are driving me nuts. I will never, without a doubt, would rather cut off my foot- then ever pay these people. I dont know how to get them to stop calling. my attorney said i could sue them, but i dont have time for that. TELL EVERYONE YOU KNOW ABOUT THESE CRIMINALS!!! i dont know how these people can sleep at night. i work way to hard to pay for a scam!! If anyone want to think about a class action lawsuit IM IN!!!

  • Ri
      31st of Dec, 2012
    +1 Votes

    DO NOT do business with TIME PAYMENT CORP! The company that I purchased a piece of equipment from gave me the impression that once my payments are fully paid, I would own the equipment. All that company did was funnel and mislead their customers into signing a NON-CANCELLABLE contract with Time Payment Corp (a leasing company), which drafts a contract that in very small prints says that after you are done with the term of the lease, you have to 1) return the equipment, 2) continue with the terms of the lease, 3) buy the equipment . Time Payment uses the same deceptive marketing tactics that credit card companies use so it can mislead customers with their small prints and fees (Once I was charged $20 for my credit card being decline and since the machine automatically runs it 3 times, I was charged $60) OUTRAGEOUS!!!

  • Sh
      25th of Aug, 2013
    +1 Votes

    Do Not Sign Contract With Time Payment Corporation. This company is predatory and takes advantage of the fact that people will not read every part of their contract or consult with an attorney before signing. I too was surprised by what I had signed once I had an attorney explain that I would not own the equipment after my term. nobody in their right mind would agree to paying 3 times the cost of the original equipmnet only to owe more at the end of what they consider "fair market value." The broker was pushy and explained that they don't use interest rates but factors and could not show me the terms of my loan before I signed or agreed to a payment. That raised a huge red flag to me but again I was rushed and distracted by other events in my life. The fees are shocking too in that they add on property tax, insurance, paper fees, collection calls, $6.00 per call, and the list goes on and on. If you find yourself in bed with this company my advice is to find a good credit attorney and hope they made an error somewhere. I think I even signed away my rights to Oregon law and agreed to Massachusettes law. The other confusing thing is if you purchase equipment, often the equipment paperwork lets you return equipment at any time but the other leasing paperwork makes that contract null and void because it is not dependent on the business success or legiitmacy, workings, or otherwise of the equipment so is non cancellable. They will also want you to be a personal guarantor of the loan for your business so you cannot claim a business bankruptcy and wipe out the debt. Got their t's crossed and i's dotted so know that the devil has your soul.

  • Af
      7th of Nov, 2013
    +1 Votes

    I owned a small business, I entered into a contract for Security equipment and monitoring with Timepayment Corp -- I paid them faithfully and on time, eventhough the equipment NEVER worked properly. When I asked them to please check the equipment, they said it would cost extra. Unfortunately, my business went under...so I just closed the doors and dissolved my corporation. I called them to tell them that I was closing my business down, and that they could come pick up the equipment, they told me that the equipment was already paid for...but that I still owed them for the remainder of the service contract! They said that the contract was a NON-CANCELLATION contract. Several years later, they are threatening to take me to court for payment, or they will have me thrown in jail!!! Is there a class action lawsuit against these crooks? If not, there should be!!

  • Se
      31st of Dec, 2014
    0 Votes

    Time Payment Corp is a Funding source. They are no more at fault for you buying shoddy products than your mastercard is for buying ugly clothes. I am a small business and I sell services and products. I recently signed up with TPC as a broker and can now offer my clients the ability to make purchases on a monthly payment schedule. Is it cheap? Heck no, if you borrow $10k for 5 years you will probably pay back $15k. The interest is high and there are lots of fees for insurance and stuff. But, if you are a small business owner who is using this $10k to make $250, 000 in the same 5 years- its a great deal! Plus, unlike a bank which can take weeks to process paperwork, a credit decision from a leasing company is made in minutes! Leasing is a bad deal if you buy a liability, (something that doesn't make money) like an alarm system or television or other such vanity- you might even use the word scam. That said there are some cautions I want to give you about leasing companies in general.
    1. You are not actually paying interest. You are paying a FEE for the use of the money. You will not be able to 'pay this down' later on if you get some extra money- there is no pre-payment benefit.
    2. Beware of any lease arrangement that includes more than hardware. If your vendor is charging $200/mo for support and is INCLUDING this as part of your lease, rather than invoicing you separately it means two things.
    A. He is about to cash out your plan- $200 * 60 months = one big payment and then no more money for him for 5 years so he might disappear in a year or two but you are stuck with the $200/mo bill.
    B. If you and the vendor want to part ways, you will find that the $200/mo is unbreakable. You can't fire the vendor.

    The bottom line is that when you use a leasing company you are basically pre-paying the vendor for services. Once the vendor get's paid from the leasing company for 3-5 years of revenue up front, the Vendor may become highly focused on gaining new customers- and not as much on retaining your business. Translated further, the concern is that the vendor is getting negro rich from using a bunch of commission-only sales people to quickly close deals and cash out the 3-5 year service agreements with very little concern for fulfilling these agreement. Aka..hit it and quit it!

  • Jo
      4th of Aug, 2015
    +2 Votes

    I want out of this lease in the worse way if anyone is suing them I want in!!!

  • Sa
      19th of Aug, 2015
    +1 Votes

    this company is all they doing is fraud. one gay came over he offer creditcard machine for free. after five month we discover that we all five thousand big scammed. I advise every body to call fbi .fbi job to protect American people. and this company steal money from american

  • Po
      13th of Dec, 2015
    +1 Votes

    My experience with this company began in 2011. We attempted to start an HVAC Duct Cleaning Business and was steered to this company. "BIG MISTAKE". The cost of the equipment was $8, 600.00, we had our business license insurance for the business and also insurance on the equipment as we were directed. We made our payments on time and there was no problems until 2012. I accepted a job and my sons were going to continue with the business. Approximately a month after I left for business and while everyone was gone from home someone broke into our trailer and stole everything inside and attempted to steal the trailer (only thing saved the trailer was a ball hitch lock). My wife called the sheriff's department and filed a report. We notified our insurance and this company at which time we were told we owed $10, 600. We were confused how the cost could increase. After going back and forth I contacted my lawyer and he stated to handle our problem. My wife then found that the company was also charging us $40.00 a month for insurance on the equipment. I was inform this was an illegal practice and our lawyer informed them that we be glad to settle this matter in court but we never heard anything else until today 12-13-2015. So, almost four years and we received a letter stating we now owe $14, 860.00 with the same list of expenses as stated in other posting. I believe everyone is right A CLASS ACTION SUIT IS NEEDED. If anyone has any other information which i could use please email me at johnlee1124@bellsouth.net.

  • Ds
      17th of Dec, 2015
    +1 Votes

    I agree that this company is a total scam. I have made several outreaches to class action suit attorneys to determine if we have a case. I am waiting to here back from them. I believe there contracts are misleading and in attempt to confuse the consumer they used a lot of legal verbiage. I have never entered into a "lease" that did not allow you to payoff early without penalty and it was not clearly stated in the contract. Also the vendor made it clear that you can pay for equipment in full without penalty. Then once calling Time Payment Corp to confirm, they told me that they did not uphold any contract or obligated to commit to any agreements establish between us and the vendor. And this so called "lease" is the biggest scam ever. They should call it what it really is a "rental agreement" You are contracted to rent equipment for said time with an option to purchase at FMV at the end of contract term. I think if they clearly stated this in the initial contract then a lot of consumers would be reluctant to enter into any such thing. Especially when the vendor states that you are lease financing equipment. This is the biggest bait and switch scam out there that targets small business owners and it is not in the least bit fair. By the end of the "lease" and additional fees/FMV I will have paid $2600 over the original price of the equipment. This is a complete rip off. I always finance and pay off any purchase early to avoid finance fee, etc. I am so upset that I got screwed and deceived into this contract with these leeches.

  • Ds
      17th of Dec, 2015
    +1 Votes

    I probably should have proofread my post before submitting, but I'm sure anyone reading understands what I am stating. Please excuse the grammatical errors and my misuse of there for "their."

  • Co
      13th of Jan, 2016
    0 Votes

    Damn wish i would of checked on the company before i signed up. I leased a car hoist for my shop. The hoist was like $2000 originally - after 3 years of payments turns into a $3500 hoist - but that was on me..

    Finally - my three years are up. i keep getting bills - they tell me that i have to pay $395 or send the hoist back to them.. I ask like in a box ? Its not like i can just box up a car hoist and ship it fedex...

    I've been going back and forth with them via email them telling me that since i didn't send it back i am still " renting " it month to month until i pay fair market value for it.

    I want to tell them to go fly a kite - but i don't want my credit to be messed up, its under my Car shop LLC - but i am a personal guarantee
    Wish i would of looked here first - i just clicked on the BBB - how are they an A rating with 98 complaints and 27 negative comments? They must pay to be a member...

  • Dj
      22nd of Jan, 2016
    +1 Votes

    Do not use this company and anyone who has ever gotten equipment from them write your state's attorney general and your local tax office. The company charges you taxes and fees that they do not pay to the local tax offices. This is tax fraud. This will help put this predator and their filthy ways out of business. The company uses unfair and deceptive billing practices and violates truth in lending. They are scam artist, they have over 100 Better Business Bureau complaints and check your contract and/or agreements in them. It will reference sections regarding you having to pay certain amounts and when you read the sections those amounts are not there and the section does have anything to do with taxes or fees. The are enough people to file a class action lawsuit against this predator. Any legal companies willing to take this on please post here with your contact information.

  • Wi
      16th of Feb, 2016
    +1 Votes

    We ended up using a company called MTM Security. After our equipment was installed, it was immediately out of date and the contract we signed with the monitoring company was not the same. However the security company went out of business about six months later, so I'm stuck with a contract with TimePayment Corp., that is not monitoring my home but is still charging me, saying it's not their problem... Do not do business with this company... I

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