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DisgustedBalboaCustomer

Haverhill, US
Registration date: Feb 11, 2013
0 helpful votes

DisgustedBalboaCustomer’s comments

Feb 11, 2013
6:23 pm EST
Balboa Capital has royally screwed the small biz guy w/o their deceptive leases. I'm a contractor in MA and I leased a used JLG Lift for $14, 500 in March 2009 for 5yrs w/ Balboa via Financial Pacific. I made the final payment last month. I contacted Balboa today to get my buyout I requested at the start of the lease for $101. However, I received a bill from them today for $550 due in 5 days w/ no explanation. I assumed it was the wrong buy out amount, so I contacted them and they claim they own my equipment and are now extending my lease another year @ $550/ mo or we can buy it out for FMV or we can pay to have it shipped back to them ! I already paid over $26K in lease w/ interest and now I'm going to re-buy or return my equipment?! I was told today they sent a letter to me back in July and I never responded and was my fault if I didn't understand my lease. I NEVER received any letter from them and this is NOT the lease terms that I agreed to - they baited me with one term and had me sign another. I had multiple problems from the beginning with the lack of communication and disclosure from Balboa and now I see it wasn't just me. If anyone is doing a class action suit, please contact me.
Balboa Capital has royally screwed the small biz guy w/o their deceptive leases. I'm a contractor in MA and I leased a used JLG Lift for $14, 500 in March 2009 for 5yrs w/ Balboa via Financial Pacific. I made the final payment last month. I contacted Balboa today to get my buyout I requested at the start of the lease for $101. However, I received a bill from them today for $550 due in 5 days w/ no explanation. I assumed it was the wrong buy out amount, so I contacted them and they claim they own my equipment and are now extending my lease another year @ $550/ mo or we can buy it out for FMV or we can pay to have it shipped back to them ! I already paid over $26K in lease w/ interest and now I'm going to rebuy my equipment?! I was told today they sent a letter to me back in July and I never responded and was my fault if I didn't understand my lease. I NEVER received any letter from them and this is not the lease terms that I agreed to - they baited me with one term and had me sign another. I had multiple problems from the beginning with the lack of communication and disclosure from Balboa and now I see it wasn't just me. If anyone is doing a class action suit, please contact me.