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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.
I am the original person on this complaint. It's five years laters and I am paying minimal payment on a security system I don't own any more. They say I still owe $16, 000 on a $ 500.00 system, but I continue to pay because it will effect my credit. No body suing or bring charges for fraud on this company. If someone has any information on a suit please contact me at cmeadows58@bellsouth.net. Good luck.
![Lease Finance Group [LFG]](/images/business/48-48/120234/lease-finance-group-lfg.jpg){kind=small}
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.
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!
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.
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.
I'm going to. Please, did you complained to KY Att Gen? Thanks
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.
I've got the same crap, the insurance, among other things. I'm complaining to Attorney G.
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!
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
If you think the better business bureau is there to protect customers, I suggest you do some checking into them. It isn't called the consumer protection agency, it is a business for businesses and all you really gotta do to maintain your rating is pay your membership dues and half [censored] answer complaints in their public forum. It doesn't matter if whatever ya say is complete bs as long as you answer it is acceptable. The BBB is just another scam out there, which broke my heart when dug into them and found out since all my life that has been the go to threat against business and what I imagined was a consumers recourse. It just isn't the way the world really works. :)
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.
Please contact me similar situation if we stick together
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.
I'm having the same issue. My email trblaser@yahoo.com.
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!
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!
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.
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!
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!
I want out of this lease in the worse way if anyone is suing them I want in!
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
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.
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.
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."
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...
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.
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
i got a call from a company wanting to place an ATM in my store. in exchange for this, they would pay me $1500 on installation, plus $2 for every $3 charge that the customer is charged for using the machine. I was emailed a contract to sign, and less than a minute after the email, i get a call from another company saying they need to have it electronically signed and have the machine ready to deliver within a week. Being rushed and not taking time to even really read what was emailed, the person on the phone basically pointed out all the places for me to sign and that was it. The next week I have an ATM plus the up front money they promised, but also got a bill for $300 for the lease of the ATM. I called the place and explained my store was a resell shop and in no way would the customers use it enough to pay me back $300 a month and I didnt want it. Well, contract already signed and all I could do was find someone to take over the lease or return the machine which would lessen my debt to them by $2000 but they still want the full amount of the 5 year lease agreement. I ended up leaving the business to my partner after my parents got ill and i had to take care of them full time, and he refused to take it over. Now they send me letters saying they are taking me to court because i broke the lease. i explained that the ATM, although not being used, is not mine but the business property and remains with the new owner. i signed, so i have too pay regardless. i told them ill file bnkruptcy and they said it was a nondischargable debt, its in the contract- one i never really read before being rushed into signing it...so anything to do with time payment corp, id run the other way. since i now only work part time and not making much money, i would assume any judge would grant me small payments verses the $300 a mnth they expect- i hope anyway or im really screwed.
This company is a fraud and takes advantage of non English speaking customers. They forced me to sign a contract and they didn't leave me a copy. I never received any information from them so I contacted them by phone & email. They haven't resolved any of my questions & concerns and they have very bad attitudes, Their customer service is so bad.
Time Payment Nationwide Equipment Financing: Be careful all the Restaurant Owners, specially the New ones! Please Don't deal with this Rouge & Scam company, if you care about your personal credit. This company has some of the rudest people working for them.They are very greedy, unprofessional, rotten customer service, liars, they will make every possible attempt to ruin your personal credit even though you are making payments on time.I bought a piece of equipment from a 3rd party and was under the impression that I am 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 I am supposed to pay. This machine should have been $3600.00, but they made it $4200.00, and trying to contact them to solve the problem, but don't know how. I am one of them, i had to close down my restaurant due to loss. I made 18 Payments for the amount of $122 each month, then i requested them to take back your POS system, or I can also ship you wherever you want. They refused to do so & now they have reported to the Collection. I have disputed that. Collection Company told me to wait for 30 days. I understand that ultimately it is my fault for not reading the fine print, but you don't expect companies to drag you and feel justified for doing so. I am not alone, as you can see from this website, Don't let that fool you. They are predators, and I would encourage others to not deal with them. I am also going to file a complaint with the Attorney Generals office, waiting for the answer from Collection Company.
They should not be aloud to get away with this.
Im interested to file classaction lawsuit
Me too. Bridget Urrutia
I was scammed in 2015 They told a totally diffrent price for machine
They took extra payment out of my account unauthorized so I close my account down immediatly!
I'm interested to sue the Time payments for their scam too!
If there is a class action lawsuit on this company I want in. My name was forged on this rediculous lease! Its so obvious too and I believe whoever signed it was left handed and I am right. I stopped making payments after I got the papers in the mail! Email me with any info at jediphillips@yahoo.com
I just received documents from TimePayment and the payments were different than what I was told they would be and there were taxes and other fees that raised a huge red flag for me. Plus the fact that if you pay them off early you still owe that huge amount that is the highest %%% rate I have ever seen. I came here to do some checking and I am glad I did. We have sent them an email saying we will not be using them and called the place where we were going to purchase fitness equipment as well to cover all bases. I have asked for an email back to verify they have closed our application and are not proceeding with it in any manner. I am waiting for their reply. This is a horrible contract . I hope others look up this company before signing anything. I am so glad we didn't sign!
OMG! I wish I saw these reviews before getting scammed by this company! we need to petition for a nationwide lawsuit! they have gotten away with so much!
I thought I was leasing to own 3 bounce houses! Got a letter after 3 years of payments at 332 per month to say yeah the company charged you $6500 but we want that plus another 6500 and then then you can lease month to month or purchase! What the hell was I already doing? I thought it was like Rent a Center! You lease until you pay it off! Class action lawsuit! I’m going be looking into this!
Ok so my boss decided to use this company instead of the usual water jugs method. What this company doesn't tell you is ... the equipment is NOT "SEALED". Even though our office has a monthly exterminating service. ROACHES got INSIDE and came out in someones CUP! HOW IS THAT POSSIBLE? Our office is NOT roach infected by any means! We previously used the Nestle water cooler jugs and NEVER EVER had issues with BUGS! Disgusting and here's the best part, they knew this could happen and neglected to say this! They are well aware of this issue. DO NOT USE THIS COMPANY THEY CONTINUE TO BILL US FOR AN UNUSABLE MACHINE! They're words were DO NOT USE IT ANYMORE! They want to charge to replace WITH ANOTHER MACHINE - but the same thing could happen again !
How about you produce a machine that guarantees CLEAN WATER! SCAM SCAM SCAM !
We never incurred bugs in the refrigerator - THIS IS RIDCULOUS Who would try to drink from a machine like this after seeing a roach in your cup! WHO NO ONE !
Big mistake ever. We purchased a CNC Plasma table, this is our 3rd month of payment, the machine price was almost $8000.00 We wanted to pay it off ahead of time but didn't know when exactly and never ask their pay off policy, today I called to pay it off and I was told that the payoff amount was $16, 795.00. Double what the machine was priced at. Only three months with the table and we will ending paying double its insane. I understand We should pay some interest to them for buying the table for us but they dont even charge by interest. Our lease was for 45 months and for three months of payments We will end up paying 45 months. on the contract does not states that, but again my mistake was not asking about their pay off policy wich They do not have.
Please try to save your money to be able to buy instaid of using this leasing company or you will end up paying a lot of money, and also their customer service is awfull and cruel, dont think they will answer your questions, all they keep telling me is read your contract.
This website, and a few other's needs to be provided to a law firm to file a CLASS ACTION LAWSUIT AGAINST TIME PAYMENT CORPORATION. It needs to be flagged by a law first to file suit on behalf of everyone's over payments. They have only been put in court 2 times for minor offenses; this is consumer fraud and damaging to many individuals. I did not see them on BBB, but everyone needs to take advantage of the World Wide Web and social media and notify others before they become victims. Help one another.
I would be party to a class action against timepayment Corp. I didn't know they took a payment from my checking account. 1 month later someone named Emmanuel aryeetey wrote a fraudulent check on the account and took $11,500. Out, now today time payment Corp tried to drain the account. So I'm assuming these individuals are working together and I'll add this to my fbi case and police reports. What a scam!