Paramount Financial Services

[redacted] / Memories Manufacturing / Picsure Perfect Photo:Please note that we again are confused as to why you are filing a complaint against Paramount instead of the named equipment supplier, Zoom Photo Booths As stated in the previous reply, Paramount's informal and loosely labeled "endorsement" of Zoom came at a point in time when we too had not yet experienced any issues with the supplier.Please keep in mind that Paramount (and our underwriting banks) are the ones that actually pay for the equipment associated with the loans that we write Perhaps mothan our clients, we desire that all purchased equipment perform well for our clients so they are able to profit from the use of said equipment so in return will be able to pay back the loan Had we had any concerns over the vendor, at the time of your transaction, we certainly would not have invested our own money into the transaction Therefore, to argue that Paramount would have any motivation to lead you into working with a less than desirable vendor is simply unreasonable To question our ethics, under this situation, again is simply confusing Your resolution request:"That Paramount legally pursue getting their money back from Zoom and to work with the underwriter to provide a workable solution that will not completely ruin my credit."Our commitment to resolution: We ARE pursuing all reasonable and viable collection avenues, available to us, against Zoom (please note: we are not able to represent YOUR legal interests against Zoom, even though we may have a similar claim against them.) There is no need for your credit to be damaged or effected in this situation , unless you fail to make payments on the loan amount We recommend that you continue to make your monthly loan payment until you and/or we find resolution on the matter

Mr***:We certainly appreciate your feedback and understand your frustration with Zoom PhotoBooths, the supplier of your equipment Acting as a lender for equipment transaction, we occasionally (but rarely) run into situations where clients have warranty issues with their equipment As the lender, we really have no control over which vendor you choose, whether the equipment works or whether the equipment supplier/vendor (Zoom PhotoBooths) supports their products That being said, we share the same interest that you do when funding an equipment loan We also want the equipment to work, the supplier to honor warranties and the client to make timely payments Therefore, I think it is important for you to realize that we are both on the same side of the fence with this dispute and will continue to purse ALL resolutions (both with you AND the equipment supplier).I will be honest that we are surprised to see that you have written a complaint against us, but will still continue to work with you, the equipment supplier and the underwriter until this is resolved.Yes, it is an unfortunate situation that the supplier has not responded to your equipment functionality needs To be fair, we had no issues with Zoom Photobooths prior to your transaction Zoom was a newer vendor to us at the time and your PFS Agent did disclose that fact you via an email that I reviewed This does not make the situation any easier, but it is important that we defend our position and unify in order to reach resolution, jointly, with Zoom (if possible).Even though clients may occasionally ask our loan agents about certain equipment suppliers, our contract clearly states the terms of our agreement: WARRANTY DISCLAIMER: We are leasing the Equipment to you “AS-IS.” WE MAKE NO WARRANTY EXPRESS OR IMPLIED, THAT THE EQUIPMENT IS FIT FOR A PARTICULAR PURPOSE OR THAT THE EQUIPMENT IS MERCHANTABLE YOU AGREE THAT YOU HAVE SELECTED THE SUPPLIER AND EACH ITEM OF EQUIPMENT BASED UPON YOUR OWN JUDGMENT AND DISCLAIM ANY RELIANCE UPON ANY STATEMENTS OR REPRESENTATIONS MADE BY US OR ANY SUPPLIER WE DO NOT TAKE RESPONSIBILITY FOR THE INSTALLATION OR PERFORMANCE OF THE EQUIPMENT THE SUPPLIER IS NOT OUR AGENT AND NOTHING THE SUPPLIER STATES CAN AFFECT YOUR OBLIGATION UNDER THIS LEASE YOU WILL CONTINUE TO MAKE ALL PAYMENTS UNDER THIS AGREEMENT REGARDLESS OF ANY CLAIM OR COMPLAINT OF NON PERFORMANCE AGAINST SUPPLIER WE HAVE NO RESPONSIBILITY FOR ANY MAINTENANCE OR SUPPORT TO BE SUPPLIED BY SUPPLIER YOU ARE ADVISED THAT YOU MAY HAVE RIGHTS UNDER THE CONTRACT EVIDENCING OUR PURCHASE OF THE EQUIPMENT FROM THE SUPPLIER CHOSEN BY YOU AND THAT YOU SHOULD CONTACT SUCH SUPPLIER FOR A DESCRIPTION OF ANY SUCH RIGHTS.Again, we are disappointed to see this complaint posted against Paramount as it relates to a joint dispute that we both share against Zoom.Your request for resolution does not fall squarely on our shoulders and we remain committed to seeking compliance from you and also resolution from Zoom (where possible) This does not remove your need to seek resolve from Zoom directly We cannot do that on your behalf They supplied you equipment that does not work, and thus we share your belief that they should fix or refund the transaction.Meanwhile, we ask that you keep your contract in compliance until either party makes a break through with this faulty supplier.I welcome your call or feedback any time during this resolution process.Sincerely,Dave M[redacted] ***

Revdex.com:The client signed a settlement agreement that would allow us to refund the deposit under the conditions that neither party have any open complaints against the next Once this complaint is removed, we will be able to release the deposit, as originally agreed upon Please notify me when this complaint has been completely removed from the system (not just closed, we do need the complaint removed so the settlement agreement can trigger his refund)Thank you, [redacted]

I, *** ***, absolutely reject this response from Paramount Financial to the dispute that I've filed This response offers absolutely no solution or assistance in any way, and in fact fails to even accept any of the responsibility for the mess that I'm currently in.Paramount may have fine print in their contract that will protect them legally in this matter However, complaints filed with the Revdex.com are include complaints of dishonest and/or unethical business practices, and I maintain that how Paramount Financial has handled my situation is both dishonest and unethical First, I reiterate that Paramount Financial contacted me initially and solicited my business in order to finance the Zoom Foto Booth product I have proof of this as I still have the initial email that was sent to me from the Paramount rep If they are going to contact people directly and solicit business, then they should stand behind the companies for whom they are soliciting said business Second, I also reiterate that I had reservations about doing business with Zoom and mentioned this to my rep, and my rep assured me that Zoom had been thoroughly vetted by Paramount and that Paramount would not be partnering with Zoom unless they were a legitimate, trustworthy business For Paramount to now say that the fine print in their contract releases them from responsibility is unethical If Paramount wanted to be free from any ethical responsibility, then the rep should have said something along the lines of "I cannot speak to Zoom's reputation and if they're legitimate and trustworthy or not, as we only provide financial services but do not recommend or endorse any particular vendorIf you choose to do business with Zoom then you are completely and solely responsible if in fact Zoom turns out to be a fraudulent company", and that is not at ALL what I was told. Lastly, I again reiterate that my rep and his backup both told me on separate occasions that if I defaulted on my loan due to Zoom's fraudulent activity, that Paramount would pursue very strong legal action against Zoom in order to recoup their money (which in turn was money from the underwriting company) And in my complaint I have asked that Paramount do this, as they said they would, and to work with the underwriting company in order to come up with a solution Again, the underwriting company has told me directly that they would be willing to work with myself and Paramount Financial in order to come up with a solution However, the first step in a solution is to retrieve the money back from Zoom You'll notice that nowhere in Paramount's response do they actually say that they are pursuing legal action towards Zoom In fact, after the underwriting company told me that they'd be willing to work with Paramount Financial, they contacted Paramount Financial to try to work something out After a very short time though (about a week), they contacted me again and said that Paramount had "not gotten anywhere" with getting a refund from Zoom, and so the underwriting company was going to pursue legal/collections action against me directly for the full balance of the loan Obviously a week is not anywhere close enough to pursue legal action against Zoom, which therefore implies to me that Paramount Financial simply decided it was not worth the time or money to actually legally pursue getting the money back from Zoom, and instead had decided it was okay to simply hang their customer out to dry.Finally I will point out that this type of complaint against Paramount Financial is precisely what other potential customers need to see I looked up Paramount Financial prior to me doing business with them and they had an A+ rating with the Revdex.com, which gave me some comfort in doing business with them It also gave more weight to their endorsement and guarantee of Zoom Foto Booth's legitimacy Had I seen a complaint such as this about Paramount strongly endorsing a company but then not standing behind their endorsement and providing any support after the fact, then I would have certainly not done business with them, particularly since the biggest reason I decided to move forward was Paramount's endorsement of Zoom I reiterate that the only solution that will be acceptable is that Paramount Financial legally pursues getting they money back from Zoom, and they work with the underwriting company to provide a workable solution that will not completely ruin my credit and/or cause me to go bankrupt over this I would like proof they they are strongly pursuing legal action against Zoom Foto Booths, and that they are working with the underwriting company on my behalf Even if they do this, I will still lose thousands of dollars on this fraudulent purchase However, the least Paramount Financial could do would be to own up to the fact that they had a large part in me being in this situation, and provide the assistance I am seeking Again, what I am seeking is simply what Paramount Financial told me that they would do For them to now not do what they said they would is completely unethical, and future potential customers should be aware that this is how Paramount Financial does business.Brian ***

[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution would be satisfactory to me. I will wait until for the business to perform this action and, if it does, will consider this complaint resolved
Regards,
*** ***

[redacted] / Memories Manufacturing / Picsure Perfect Photo:Please note that we again are confused as to why you are filing a complaint
against Paramount instead of the named equipment supplier, Zoom Photo
Booths.  As stated in the previous reply, Paramount's informal and loosely
labeled "endorsement" of Zoom came at a point in time when we too had
not yet experienced any issues with the supplier.Please keep in mind that Paramount (and our underwriting banks) are the
ones that actually pay for the equipment associated with the loans that we write.  Perhaps more-so than our clients, we desire that all purchased equipment perform well for our clients so they are
able to profit from the use of said equipment so in return will be
able to pay back the loan.  Had we had any concerns over the
vendor, at the time of your transaction, we certainly would not have invested
our own money into the transaction.  Therefore, to argue that Paramount
would have any motivation to lead you into working with a less than desirable
vendor is simply unreasonable.  To question our ethics, under this
situation, again is simply confusing.  Your resolution request:"That Paramount legally pursue getting their money back from Zoom and to work with the underwriter to provide a workable solution that will not completely ruin my credit."Our commitment to resolution:1.  We ARE pursuing all reasonable and viable collection avenues,
available to us, against Zoom.  (please note:  we are not able to represent YOUR legal interests against Zoom, even though we may have a similar claim against them.) 2.  There is no need for your credit to be damaged or effected in this situation , unless you fail to make payments on the loan amount.  We recommend that you continue to make your monthly loan payment until you and/or we find resolution on the matter.

Mr. [redacted]:We certainly appreciate your feedback and understand your frustration with Zoom PhotoBooths, the supplier of your equipment.  Acting as a lender for equipment transaction, we occasionally (but rarely) run into situations where clients have warranty issues with their equipment. ...

As the lender, we really have no control over which vendor you choose, whether the equipment works or whether the equipment supplier/vendor (Zoom PhotoBooths) supports their products.  That being said, we share the same interest that you do when funding an equipment loan.  We also want the equipment to work, the supplier to honor warranties and the client to make timely payments.  Therefore, I think it is important for you to realize that we are both on the same side of the fence with this dispute and will continue to purse ALL resolutions (both with you AND the equipment supplier).I will be honest that we are surprised to see that you have written a complaint against us, but will still continue to work with you, the equipment supplier and the underwriter until this is resolved.Yes, it is an unfortunate situation that the supplier has not responded to your equipment functionality needs.  To be fair, we had no issues with Zoom Photobooths prior to your transaction.  Zoom was a newer vendor to us at the time and your PFS Agent did disclose that fact you via an email that I reviewed.  This does not make the situation any easier, but it is important that we defend our position and unify in order to reach resolution, jointly, with Zoom (if possible).Even though clients may occasionally ask our loan agents about certain equipment suppliers, our contract clearly states the terms of our agreement:  6.  WARRANTY DISCLAIMER:  We are
leasing the Equipment to you “AS-IS.”  WE
MAKE NO WARRANTY EXPRESS OR IMPLIED, THAT THE EQUIPMENT IS FIT FOR A PARTICULAR
PURPOSE OR THAT THE EQUIPMENT IS MERCHANTABLE.  YOU AGREE THAT YOU HAVE SELECTED THE SUPPLIER AND EACH ITEM OF EQUIPMENT
BASED UPON YOUR OWN JUDGMENT AND DISCLAIM ANY RELIANCE UPON ANY STATEMENTS OR
REPRESENTATIONS MADE BY US OR ANY SUPPLIER.  WE DO NOT TAKE RESPONSIBILITY FOR THE INSTALLATION OR PERFORMANCE OF THE
EQUIPMENT.  THE SUPPLIER IS NOT OUR AGENT
AND NOTHING THE SUPPLIER STATES CAN AFFECT YOUR OBLIGATION UNDER THIS
LEASE.  YOU WILL CONTINUE TO MAKE ALL
PAYMENTS UNDER THIS AGREEMENT REGARDLESS OF ANY CLAIM OR COMPLAINT OF NON
PERFORMANCE AGAINST SUPPLIER.  WE HAVE NO
RESPONSIBILITY FOR ANY MAINTENANCE OR SUPPORT TO BE SUPPLIED BY SUPPLIER.  YOU ARE ADVISED THAT YOU MAY HAVE
RIGHTS UNDER THE CONTRACT EVIDENCING OUR PURCHASE OF THE EQUIPMENT FROM THE
SUPPLIER CHOSEN BY YOU AND THAT YOU SHOULD
CONTACT SUCH SUPPLIER FOR A DESCRIPTION OF ANY SUCH RIGHTS.Again, we are disappointed to see this complaint posted against Paramount as it relates to a joint dispute that we both share against Zoom.Your request for resolution does not fall squarely on our shoulders and we remain committed to seeking compliance from you and also resolution from Zoom (where possible).  This does not remove your need to seek resolve from Zoom directly.  We cannot do that on your behalf.  They supplied you equipment that does not work, and thus we share your belief that they should fix or refund the transaction.Meanwhile, we ask that you keep your contract in compliance until either party makes a break through with this faulty supplier.I welcome your call or feedback any time during this resolution process.Sincerely,Dave M.[redacted]

Revdex.com:The client signed a settlement agreement that would allow us to refund the deposit under the conditions that neither party have any open complaints against the next.  Once this complaint is removed, we will be able to release the deposit, as originally agreed upon.  Please notify me...

when this complaint has been completely removed from the system (not just closed, we do need the complaint removed so the  settlement agreement can trigger his refund). Thank you,[redacted]

[A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me.  I will wait until for the business to perform this action and, if it does, will consider this complaint resolved.

Regards,

[redacted] / Memories Manufacturing / Picsure Perfect Photo:
Please note that we again are confused as to why you are filing a complaint

against Paramount instead of the named equipment supplier, Zoom Photo

Booths.  As stated in the previous reply, Paramount's informal and loosely

labeled "endorsement" of Zoom came at a point in time when we too had

not yet experienced any issues with the supplier.Please keep in mind that Paramount (and our underwriting banks) are the

ones that actually pay for the equipment associated with the loans that we write.  Perhaps more-so than our clients, we desire that all purchased equipment perform well for our clients so they are

able to profit from the use of said equipment so in return will be

able to pay back the loan. 
Had we had any concerns over the

vendor, at the time of your transaction, we certainly would not have invested

our own money into the transaction.  Therefore, to argue that Paramount

would have any motivation to lead you into working with a less than desirable

vendor is simply unreasonable.  To question our ethics, under this

situation, again is simply confusing. 
Your resolution request:
"That Paramount legally pursue getting their money back from Zoom and to work with the underwriter to provide a workable solution that will not completely ruin my credit."
Our commitment to resolution:
1.  We ARE pursuing all reasonable and viable collection avenues,

available to us, against Zoom.  (please note:  we are not able to represent YOUR legal interests against Zoom, even though we may have a similar claim against them.)
2.  There is no need for your credit to be damaged or effected in this situation , unless you fail to make payments on the loan amount.  We recommend that you continue to make your monthly loan payment until you and/or we find resolution on the matter.

Mr. [redacted]:
We certainly appreciate your feedback and understand your frustration with Zoom PhotoBooths, the supplier of your equipment.  Acting as a lender for equipment transaction, we occasionally (but rarely) run into situations where clients have warranty issues with their...

equipment.  As the lender, we really have no control over which vendor you choose, whether the equipment works or whether the equipment supplier/vendor (Zoom PhotoBooths) supports their products.  That being said, we share the same interest that you do when funding an equipment loan.  We also want the equipment to work, the supplier to honor warranties and the client to make timely payments.  Therefore, I think it is important for you to realize that we are both on the same side of the fence with this dispute and will continue to purse ALL resolutions (both with you AND the equipment supplier).I will be honest that we are surprised to see that you have written a complaint against us, but will still continue to work with you, the equipment supplier and the underwriter until this is resolved.
Yes, it is an unfortunate situation that the supplier has not responded to your equipment functionality needs.  To be fair, we had no issues with Zoom Photobooths prior to your transaction.  Zoom was a newer vendor to us at the time and your PFS Agent did disclose that fact you via an email that I reviewed.  This does not make the situation any easier, but it is important that we defend our position and unify in order to reach resolution, jointly, with Zoom (if possible).
Even though clients may occasionally ask our loan agents about certain equipment suppliers, our contract clearly states the terms of our agreement: 
6.  WARRANTY DISCLAIMER:  We are

leasing the Equipment to you “AS-IS.”  WE

MAKE NO WARRANTY EXPRESS OR IMPLIED, THAT THE EQUIPMENT IS FIT FOR A PARTICULAR

PURPOSE OR THAT THE EQUIPMENT IS MERCHANTABLE.  YOU AGREE THAT YOU HAVE SELECTED THE SUPPLIER AND EACH ITEM OF EQUIPMENT

BASED UPON YOUR OWN JUDGMENT AND DISCLAIM ANY RELIANCE UPON ANY STATEMENTS OR

REPRESENTATIONS MADE BY US OR ANY SUPPLIER.  WE DO NOT TAKE RESPONSIBILITY FOR THE INSTALLATION OR PERFORMANCE OF THE

EQUIPMENT.  THE SUPPLIER IS NOT OUR AGENT

AND NOTHING THE SUPPLIER STATES CAN AFFECT YOUR OBLIGATION UNDER THIS

LEASE.  YOU WILL CONTINUE TO MAKE ALL

PAYMENTS UNDER THIS AGREEMENT REGARDLESS OF ANY CLAIM OR COMPLAINT OF NON

PERFORMANCE AGAINST SUPPLIER.  WE HAVE NO

RESPONSIBILITY FOR ANY MAINTENANCE OR SUPPORT TO BE SUPPLIED BY SUPPLIER.  YOU ARE ADVISED THAT YOU MAY HAVE

RIGHTS UNDER THE CONTRACT EVIDENCING OUR PURCHASE OF THE EQUIPMENT FROM THE

SUPPLIER CHOSEN BY YOU AND THAT YOU SHOULD

CONTACT SUCH SUPPLIER FOR A DESCRIPTION OF ANY SUCH RIGHTS.
Again, we are disappointed to see this complaint posted against Paramount as it relates to a joint dispute that we both share against Zoom.
Your request for resolution does not fall squarely on our shoulders and we remain committed to seeking compliance from you and also resolution from Zoom (where possible).  This does not remove your need to seek resolve from Zoom directly.  We cannot do that on your behalf.  They supplied you equipment that does not work, and thus we share your belief that they should fix or refund the transaction.
Meanwhile, we ask that you keep your contract in compliance until either party makes a break through with this faulty supplier.
I welcome your call or feedback any time during this resolution process.
Sincerely,
Dave M.

I, [redacted], absolutely reject this response from Paramount Financial to the dispute that I've filed.  This response offers absolutely no solution or assistance in any way, and in fact fails to even accept any of the responsibility for the mess that I'm currently in.Paramount may have fine print in their contract that will protect them legally in this matter.  However, complaints filed with the Revdex.com are include complaints of dishonest and/or unethical business practices, and I maintain that how Paramount Financial has handled my situation is both dishonest and unethical.  First, I reiterate that Paramount Financial contacted me initially and solicited my business in order to finance the Zoom Foto Booth product.  I have proof of this as I still have the initial email that was sent to me from the Paramount rep.  If they are going to contact people directly and solicit business, then they should stand behind the companies for whom they are soliciting said business.  Second, I also reiterate that I had reservations about doing business with Zoom and mentioned this to my rep, and my rep assured me that Zoom had been thoroughly vetted by Paramount and that Paramount would not be partnering with Zoom unless they were a legitimate, trustworthy business.  For Paramount to now say that the fine print in their contract releases them from responsibility is unethical.  If Paramount wanted to be free from any ethical responsibility, then the rep should have said something along the lines of "I cannot speak to Zoom's reputation and if they're legitimate and trustworthy or not, as we only provide financial services but do not recommend or endorse any particular vendor. If you choose to do business with Zoom then you are completely and solely responsible if in fact Zoom turns out to be a fraudulent company", and that is not at ALL what I was told. Lastly, I again reiterate that my rep and his backup both told me on separate occasions that if I defaulted on my loan due to Zoom's fraudulent activity, that Paramount would pursue very strong legal action against Zoom in order to recoup their money (which in turn was money from the underwriting company).  And in my complaint I have asked that Paramount do this, as they said they would, and to work with the underwriting company in order to come up with a solution.  Again, the underwriting company has told me directly that they would be willing to work with myself and Paramount Financial in order to come up with a solution.  However, the first step in a solution is to retrieve the money back from Zoom.  You'll notice that nowhere in Paramount's response do they actually say that they are pursuing legal action towards Zoom.  In fact, after the underwriting company told me that they'd be willing to work with Paramount Financial, they contacted Paramount Financial to try to work something out.  After a very short time though (about a week), they contacted me again and said that Paramount had "not gotten anywhere" with getting a refund from Zoom, and so the underwriting company was going to pursue legal/collections action against me directly for the full balance of the loan.  Obviously a week is not anywhere close enough to pursue legal action against Zoom, which therefore implies to me that Paramount Financial simply decided it was not worth the time or money to actually legally pursue getting the money back from Zoom, and instead had decided it was okay to simply hang their customer out to dry.Finally I will point out that this type of complaint against Paramount Financial is precisely what other potential customers need to see.  I looked up Paramount Financial prior to me doing business with them and they had an A+ rating with the Revdex.com, which gave me some comfort in doing business with them.  It also gave more weight to their endorsement and guarantee of Zoom Foto Booth's legitimacy.  Had I seen a complaint such as this about Paramount strongly endorsing a company but then not standing behind their endorsement and providing any support after the fact, then I would have certainly not done business with them, particularly since the biggest reason I decided to move forward was Paramount's endorsement of Zoom.  I reiterate that the only solution that will be acceptable is that Paramount Financial legally pursues getting they money back from Zoom, and they work with the underwriting company to provide a workable solution that will not completely ruin my credit and/or cause me to go bankrupt over this.  I would like proof they they are strongly pursuing legal action against Zoom Foto Booths, and that they are working with the underwriting company on my behalf.  Even if they do this, I will still lose thousands of dollars on this fraudulent purchase.  However, the least Paramount Financial could do would be to own up to the fact that they had a large part in me being in this situation, and provide the assistance I am seeking.  Again, what I am seeking is simply what Paramount Financial told me that they would do.  For them to now not do what they said they would is completely unethical, and future potential customers should be aware that this is how Paramount Financial does business.Brian [redacted]

Revdex.com:
The client signed a settlement agreement that would allow us to refund the deposit under the conditions that neither party have any open complaints against the next.  Once this complaint is removed, we will be able to release the deposit, as originally agreed upon.  Please...

notify me when this complaint has been completely removed from the system (not just closed, we do need the complaint removed so the  settlement agreement can trigger his refund). 
Thank you,

Review: I was applying for a loan for a copy machine for my business, they had me complete the paperwork and send a check. they stated that they could not complete the loan without additional paperwork. I ended up purchasing a machine through someone else. I called them and told them that I was not going to be using them and no longer needed the loan and to cancel my application, they assured me they would. Two months later they proceeded to deposit the check, and somehow have the information they needed to proceed with the loan even though I never gave them that information now they are refusing to refund my deposit for a loan I will never use

Regards,

[redacted]Desired Settlement: I would just like my deposit refunded

Business

Response:

Revdex.com:The client signed a settlement agreement that would allow us to refund the deposit under the conditions that neither party have any open complaints against the next. Once this complaint is removed, we will be able to release the deposit, as originally agreed upon. Please notify me when this complaint has been completely removed from the system (not just closed, we do need the complaint removed so the settlement agreement can trigger his refund). Thank you,[redacted]

Consumer

Response:

[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me. I will wait until for the business to perform this action and, if it does, will consider this complaint resolved.

Regards,

We have used [redacted] at Paramaount Financial to finance deals for our customers for the last 4 years. [redacted] has has done a great job offering financial solutions and options to our customers in need of an equipment loan or lease. He is courteous and efficient and I have received positive feedback from our customers because of it. We view Paramount as a necessary component in our business and are happy to call them partners!

I did two deals with paramount and it was a absolute nightmare. [redacted] was terrible to work with. HE lied about hidden fees and a year later sends me a invoice for almost $3,000.00. . I would let my business go bankrupt before dealing with Paramount again.

Review: This complaint is edited from my initial attempt as the Revdex.com site would not accept my complaint. I’m attempting to shorten my complaint and see if it will be accepted. More details can be provided.On April 26th, 2015 I emailed a company called Zoom Foto Booths based in Canada about a photo booth they were advertising on craigslist. In the response from Zoom, they sent information about their photo booth which included the pricing, and information on financing through a company called Paramount Financial. I spoke with Zoom several times and their claims seemed almost too good. In addition to their claims of how great the booth was, they claimed to have a call center with multiple employees that booked gigs for their franchisees. Of these bookings I would make over $600 each, and they guaranteed me that I would have at least 2 a month booked by them, in addition to whatever I booked for myself. After several days of correspondence with Zoom, Alex from Zoom forwarded my information directly to Paramount Financial. Paramount in turn contacted me directly and offered to help me with financing the Zoom photo booth. I went through the application process and was given information on the terms of my financing. The terms of the financing were a bit on the ridiculous side. It was written up as a rental agreement instead of regular financing, and the interest on my 3 year rental agreement was nearly 100%. I was going to end up paying back nearly double the amount that I was actually financing. Plus there was a no cancellation clause in the rental agreement, so I couldn't cancel and would have to pay the total amount back. I would normally not have agreed to such terms. However, Zoom's claims and promises about both their booth and the guaranteed marketing and bookings that they would provide, led me to still consider going through with purchasing a booth. Still, I had strong reservations about the Zoom Foto Booths company. I tried researching Zoom online, and searched for company reviews. Unfortunately I was unable to locate much information on Zoom either way. I voiced my concern and hesitation to my rep at Paramount, and explained how I had reservations going through with the deal since I could not verify the reputation of Zoom Foto Booths. My Paramount rep assured me that Zoom had been thoroughly vetted and checked out by Paramount, and guaranteed that they were a reputable company. According to my rep, Paramount does not partner with and finance for any company without verifying the legitimacy of the company first, and he said he had already financed the Zoom booth for other customers and had experienced no issues. Paramount had an A+ rating with the Revdex.com (I had already checked out Paramount), so the fact that my rep was assuring me that Zoom was a legitimate company carried some weight for me. In fact, Paramount's Revdex.com rating, and the Paramount rep's vouching for Zoom are what led me to go through with the deal. Within days of receiving my booth I realized that Zoom was basically a scam. The Canon DSLR camera that I was told would be in my booth was not there, and the camera was instead a cheaper G9 point and shoot. The software was obviously Chinese (or Asian of some sort). This booth used green screen technology and was supposed to come with thousands of backgrounds. First, there were not thousands, and second, a whole bunch of them had Asian writing and symbols all over them, making them totally useless for a photo booth in the US. There was also an Asian lady’s voice in the software that would say really ridiculous and obnoxious things. As soon as I went through my first “training” and saw all of this I searched Alibaba.com, a website of Chinese imports, and saw the Zoom photo booth. They were just purchasing them and slapping their name on them, then selling them at a super high price as a high end customer photo booth. It was also during the training that I came to the knowledge that they did not have a call center with people booking gigs for their franchisees. Basically all of their claims both about their booth and their marketing were complete lies. Aside from the dishonest claims, the booth also did not work properly. It printed every picture with a big white stripe across the bottom. It was useless as a photo booth. I contacted Paramount the following week (my training was on a Friday evening) and spoke with my rep's backup because my rep was on vacation. I was assured that Paramount would do everything they could to help me get everything straightened out. I explained how without a working booth that I could use for jobs, there was absolutely no way I could afford to pay the monthly payment, and the rep told me that if it came to that, Paramount had plenty of legal resources and would go after Zoom legally to recoup their money. When my rep returned he told me the same thing, that Paramount would legally recoup their money. My situation dragged on for the next several months. I tried to work with Zoom and tried to give them a chance to provide me with a working photo booth that I could use to work jobs and make some money. I ran into issue after issue with my booth. Over the next few months I was in regular contact with both Zoom and Paramount. My Paramount rep was copied on every single piece of correspondence with Zoom, and my rep became fully aware of the scam that Zoom was running. He routinely told me that he would do anything he could to help me get my situation resolved, but that there really wasn't much he could do. Because I was dealing with a monthly note, I eventually started trying to book some gigs, and within a month or so I had booked 3. However, the week before my first booking the camera in my booth stopped coming on. When I opened the booth to see if I could swap out the camera, I realized that the internal components, including the camera were not manufactured for use the US and were not wired for 120v, but instead were all going through some kind of converter. So I could not purchase a camera and swap it out. Therefore I had to cancel all three of my bookings and refund their money, thereby losing over $1000. There are obviously many more details about everything that went on with the booth, but it would take forever to explain everything in detail. The point is that Zoom Foto Booths is a complete scam, and Paramount partnered with them and guaranteed they were legitimate. Several weeks ago I contacted the underwriter for my loan directly. I fully explained the situation. The rep I spoke with indicated to me that they would be willing to work with Paramount to try to recoup their money, and they would be willing to work with me to find some sort of resolution. However, I was informed recently by the underwriter that Paramount is apparently not pursuing legal action with Zoom so I was going to be held solely responsible for this super high interest loan, and they would be looking into legal action or turning it over to a collections agency. I have already lost about $4000 of my own money between the money I paid directly to Zoom and the payments I have made on the booth. The whole reason I got the booth was to try to make extra money because money was tight, and the only way I could have afforded a $500 a month note on the booth would have been if the booth were working, and if Zoom were marketing the booth as they had promised. My issues with Paramount Financial are that I feel they bear a lot of responsibility for the situation I am in. They are the company that partnered with Zoom Foto Booths. They are the company that contacted me and solicited my business to finance the booth. They are the company that, after I voiced my concerns about purchasing a booth from Zoom, assured me that the company was valid and legitimate. It was Paramount's assurance and recommendation that led me to end up agreeing to go through with the financing of the booth. Yet after it becomes apparent that I've been scammed and ripped off by the company Paramount partnered with and recommended, they are basically hanging me out to dry. Both my rep and my rep's backup (when we spoke during my rep's vacation) informed me that Paramount would legally go after Zoom to recoup the money. However, it appears that Paramount has decided that it's too expensive or too much trouble to legally pursue getting their money back from Zoom, and instead would rather let their customer get sued and have their personal credit ruined. All email correspondence with Zoom and Paramount are saved and verifiableDesired Settlement: I would like for Paramount to do what they said they would do and legally pursue getting a refund from Zoom. Furthermore, I would like Paramount to work with the underwriter of my loan to get their money back, so they can work out a solution with me to avoid suing me or ruining my credit. Paramount is largely responsible for me getting scammed by Zoom, and they should accept responsibility for partnering with and recommending a dishonest, scam of a company, and work to try to help me with this situation I'm in. Paramount has informed me that they will no longer do business with Zoom, but unfortunately that is not a sufficient response to my situation.

Business

Response:

Mr. [redacted]:We certainly appreciate your feedback and understand your frustration with Zoom PhotoBooths, the supplier of your equipment. Acting as a lender for equipment transaction, we occasionally (but rarely) run into situations where clients have warranty issues with their equipment. As the lender, we really have no control over which vendor you choose, whether the equipment works or whether the equipment supplier/vendor (Zoom PhotoBooths) supports their products. That being said, we share the same interest that you do when funding an equipment loan. We also want the equipment to work, the supplier to honor warranties and the client to make timely payments. Therefore, I think it is important for you to realize that we are both on the same side of the fence with this dispute and will continue to purse ALL resolutions (both with you AND the equipment supplier).I will be honest that we are surprised to see that you have written a complaint against us, but will still continue to work with you, the equipment supplier and the underwriter until this is resolved.Yes, it is an unfortunate situation that the supplier has not responded to your equipment functionality needs. To be fair, we had no issues with Zoom Photobooths prior to your transaction. Zoom was a newer vendor to us at the time and your PFS Agent did disclose that fact you via an email that I reviewed. This does not make the situation any easier, but it is important that we defend our position and unify in order to reach resolution, jointly, with Zoom (if possible).Even though clients may occasionally ask our loan agents about certain equipment suppliers, our contract clearly states the terms of our agreement: 6. WARRANTY DISCLAIMER: We are

leasing the Equipment to you “AS-IS.” WE

MAKE NO WARRANTY EXPRESS OR IMPLIED, THAT THE EQUIPMENT IS FIT FOR A PARTICULAR

PURPOSE OR THAT THE EQUIPMENT IS MERCHANTABLE. YOU AGREE THAT YOU HAVE SELECTED THE SUPPLIER AND EACH ITEM OF EQUIPMENT

BASED UPON YOUR OWN JUDGMENT AND DISCLAIM ANY RELIANCE UPON ANY STATEMENTS OR

REPRESENTATIONS MADE BY US OR ANY SUPPLIER. WE DO NOT TAKE RESPONSIBILITY FOR THE INSTALLATION OR PERFORMANCE OF THE

EQUIPMENT. THE SUPPLIER IS NOT OUR AGENT

AND NOTHING THE SUPPLIER STATES CAN AFFECT YOUR OBLIGATION UNDER THIS

LEASE. YOU WILL CONTINUE TO MAKE ALL

PAYMENTS UNDER THIS AGREEMENT REGARDLESS OF ANY CLAIM OR COMPLAINT OF NON

PERFORMANCE AGAINST SUPPLIER. WE HAVE NO

RESPONSIBILITY FOR ANY MAINTENANCE OR SUPPORT TO BE SUPPLIED BY SUPPLIER. YOU ARE ADVISED THAT YOU MAY HAVE

RIGHTS UNDER THE CONTRACT EVIDENCING OUR PURCHASE OF THE EQUIPMENT FROM THE

SUPPLIER CHOSEN BY YOU AND THAT YOU SHOULD

CONTACT SUCH SUPPLIER FOR A DESCRIPTION OF ANY SUCH RIGHTS.Again, we are disappointed to see this complaint posted against Paramount as it relates to a joint dispute that we both share against Zoom.Your request for resolution does not fall squarely on our shoulders and we remain committed to seeking compliance from you and also resolution from Zoom (where possible). This does not remove your need to seek resolve from Zoom directly. We cannot do that on your behalf. They supplied you equipment that does not work, and thus we share your belief that they should fix or refund the transaction.Meanwhile, we ask that you keep your contract in compliance until either party makes a break through with this faulty supplier.I welcome your call or feedback any time during this resolution process.Sincerely,Dave M.[redacted]

Consumer

Response:

I, [redacted], absolutely reject this response from Paramount Financial to the dispute that I've filed. This response offers absolutely no solution or assistance in any way, and in fact fails to even accept any of the responsibility for the mess that I'm currently in.Paramount may have fine print in their contract that will protect them legally in this matter. However, complaints filed with the Revdex.com are include complaints of dishonest and/or unethical business practices, and I maintain that how Paramount Financial has handled my situation is both dishonest and unethical. First, I reiterate that Paramount Financial contacted me initially and solicited my business in order to finance the Zoom Foto Booth product. I have proof of this as I still have the initial email that was sent to me from the Paramount rep. If they are going to contact people directly and solicit business, then they should stand behind the companies for whom they are soliciting said business. Second, I also reiterate that I had reservations about doing business with Zoom and mentioned this to my rep, and my rep assured me that Zoom had been thoroughly vetted by Paramount and that Paramount would not be partnering with Zoom unless they were a legitimate, trustworthy business. For Paramount to now say that the fine print in their contract releases them from responsibility is unethical. If Paramount wanted to be free from any ethical responsibility, then the rep should have said something along the lines of "I cannot speak to Zoom's reputation and if they're legitimate and trustworthy or not, as we only provide financial services but do not recommend or endorse any particular vendor. If you choose to do business with Zoom then you are completely and solely responsible if in fact Zoom turns out to be a fraudulent company", and that is not at ALL what I was told. Lastly, I again reiterate that my rep and his backup both told me on separate occasions that if I defaulted on my loan due to Zoom's fraudulent activity, that Paramount would pursue very strong legal action against Zoom in order to recoup their money (which in turn was money from the underwriting company). And in my complaint I have asked that Paramount do this, as they said they would, and to work with the underwriting company in order to come up with a solution. Again, the underwriting company has told me directly that they would be willing to work with myself and Paramount Financial in order to come up with a solution. However, the first step in a solution is to retrieve the money back from Zoom. You'll notice that nowhere in Paramount's response do they actually say that they are pursuing legal action towards Zoom. In fact, after the underwriting company told me that they'd be willing to work with Paramount Financial, they contacted Paramount Financial to try to work something out. After a very short time though (about a week), they contacted me again and said that Paramount had "not gotten anywhere" with getting a refund from Zoom, and so the underwriting company was going to pursue legal/collections action against me directly for the full balance of the loan. Obviously a week is not anywhere close enough to pursue legal action against Zoom, which therefore implies to me that Paramount Financial simply decided it was not worth the time or money to actually legally pursue getting the money back from Zoom, and instead had decided it was okay to simply hang their customer out to dry.Finally I will point out that this type of complaint against Paramount Financial is precisely what other potential customers need to see. I looked up Paramount Financial prior to me doing business with them and they had an A+ rating with the Revdex.com, which gave me some comfort in doing business with them. It also gave more weight to their endorsement and guarantee of Zoom Foto Booth's legitimacy. Had I seen a complaint such as this about Paramount strongly endorsing a company but then not standing behind their endorsement and providing any support after the fact, then I would have certainly not done business with them, particularly since the biggest reason I decided to move forward was Paramount's endorsement of Zoom. I reiterate that the only solution that will be acceptable is that Paramount Financial legally pursues getting they money back from Zoom, and they work with the underwriting company to provide a workable solution that will not completely ruin my credit and/or cause me to go bankrupt over this. I would like proof they they are strongly pursuing legal action against Zoom Foto Booths, and that they are working with the underwriting company on my behalf. Even if they do this, I will still lose thousands of dollars on this fraudulent purchase. However, the least Paramount Financial could do would be to own up to the fact that they had a large part in me being in this situation, and provide the assistance I am seeking. Again, what I am seeking is simply what Paramount Financial told me that they would do. For them to now not do what they said they would is completely unethical, and future potential customers should be aware that this is how Paramount Financial does business.Brian [redacted]

Business

Response:

[redacted] / Memories Manufacturing / Picsure Perfect Photo:Please note that we again are confused as to why you are filing a complaint

against Paramount instead of the named equipment supplier, Zoom Photo

Booths. As stated in the previous reply, Paramount's informal and loosely

labeled "endorsement" of Zoom came at a point in time when we too had

not yet experienced any issues with the supplier.Please keep in mind that Paramount (and our underwriting banks) are the

ones that actually pay for the equipment associated with the loans that we write. Perhaps more-so than our clients, we desire that all purchased equipment perform well for our clients so they are

able to profit from the use of said equipment so in return will be

able to pay back the loan. Had we had any concerns over the

vendor, at the time of your transaction, we certainly would not have invested

our own money into the transaction. Therefore, to argue that Paramount

would have any motivation to lead you into working with a less than desirable

vendor is simply unreasonable. To question our ethics, under this

situation, again is simply confusing. Your resolution request:"That Paramount legally pursue getting their money back from Zoom and to work with the underwriter to provide a workable solution that will not completely ruin my credit."Our commitment to resolution:1. We ARE pursuing all reasonable and viable collection avenues,

available to us, against Zoom. (please note: we are not able to represent YOUR legal interests against Zoom, even though we may have a similar claim against them.) 2. There is no need for your credit to be damaged or effected in this situation , unless you fail to make payments on the loan amount. We recommend that you continue to make your monthly loan payment until you and/or we find resolution on the matter.