Partners Capital Group

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
Regards,
[redacted]
This is false information I chose to back out of the loan first of all due to poor customer service. I requested my refund a week from today. How long does it take to send me my refund? You overnight the documents for me to sign right. Finally someone just called today and said that my refund is being processed and that I would be called back when my refund will be issued. So please stop all the non sense and just overnight my payment like the documents were done. Or the money can be direct deposited into my account immediately. These are the two steps I would like to see take place. Thanks in advance.

Customer purchased equipment from DT Nails. DT Nails required 100% of the invoice to be paid in advance. (see #1 Invoice) Customer requested that we pay the seller the required deposit which we did.
Customer signed Deliver Guarantee (see #2) which authorized us to pay the seller the 100% required...

and to start making payments.
Customer signed ACH agreement allowing us to deduct the monthly payments (See #3)
Customer was sent detailed invoices (See #4 and #5) clearly outlining what we were invoicing and charging.
1) Customer states "withdrew money without authorization. Not true see #3
2) Customer states "claimed monthly payments plus some other fee" See #4 and #5, a detailed invoice
3)Customer states "..still trying to bill for payments" Not true, the monthly billing was assigned to another company several months ago. Customer does not owe any payments.

I financed over $200,000 in software with Mark at Partners this week. They required no money down, did not charge me a doc fee and I was approved with the documents emailed to me the same day. They are very easy to work with. Everything was in writing and I was very impressed by their professionalism and ease to work with.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below. they never send me the check and it was never cashed by me or my office . its a scam. they will not have a proof from their bank that it was cashed by me either. they lower my loan finance agreement from $100,000 to $33,000 on the closing day. I have the agent that was dealing with them in buying the equipment as my witness where we had to seek financing from another company in order to go ahead with the purchase as well as the escrow company (that was closing my deal in equipment purchase and the dental practice purchase as one deal) that can be of yet another witness against partners capital twisting the truth to cover their true intention and their misrepresentation. the phone numbers and the names are available upon your request.  sincerely, Dr.[redacted] 
Regards,
[redacted]

I attempted to break down KRM's Issues
1) Interest Rate. Yes we quote payments prior to running credit. Once we obtain and approval the payments can very, higher or even lower than what we originally quoted. Once the customer was approved we sent funding documents which listed the actual payment....

the customer agreed to the payments and signed the agreement. We have not made any changed to the agreed upon payment.
2) Customer thinks the agreement started on 8/20. The customer authorized us to pay the vendor 100% prior to shipping (See A attached) This agreement clearly states we are paying the vendor "prior to delivery" AND the agreement will commence once the equipment is delivered to the customers satisfaction. On 9/3/15 we placed a phone call to the customer where we were told the equipment is delivered and they are satisfied. Therefore the agreement commenced on 9/3/15.
3) We are making threats to take back the machine and damage her credit. (attached 1, 2 and 3) The customer has been sent a nice reminder letter, a second delinquent letter and not a 10 day demand letter for defaulting on the agreement.
In summary, we offered to finance the machine for $1,188.66 per month. The customer agreed to this, signed the agreement and this is what we have been billing. Customer requested us to give their vendor a 100% deposit in order to ship the equipment which we did. As the agreement states, the payments start when the vendor is given this deposit, and this is what happened. We have done everything the agreement allows us to do and have not modified or changed anything.

Partners Capital is an excellent leasing company to be partnered with. Consistent in their delivery of quotes, professional and competitive.

Customer funded a loan with Partners Capital and requested that we prefund their vendor 100% of the equipment cost prior to shipping which we did (See attached) We funded the loan on December 4th and billed the customer from the 4th to the end of the month. The actual check did not get sent until...

December 14th so we will refund the customer $347.00 which represents the ten day difference from when the vendor was paid. All our checks are sent via overnight at no cost to our customer and we even provide copies of the checks and overnight tracking slips to the vendors so they can track the checks which is what happened on this loan. Our office was closed on December 11th so the check did get sent the next day which was on Monday the 14th.

Revdex.com:I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
Good afternoon,
Here is the email that was received from Partners Capital Group that is now declining to honor their offer to resolve the issue. 
Regards,
[redacted]
Begin forwarded message:
From:[redacted] <[redacted]>Date:October 23, 2015 at 11:32:06 AM PDTTo:[redacted] <[redacted]>Cc:[redacted] <[redacted]>, [redacted] <[redacted]>Subject:RE: [redacted] F** Rescission
Hi [redacted],
I brought your demands to the attention of our CEO to have him sign off, and he said that there is nothing that we can do as this deal was assigned to Fin Pac back on 10/8/2015. If you wish to cancel this agreement, you will need to contact them and have these discussions with them as this is no longer our agreement to cancel.
[redacted]
Documentation/Funding Coordinator
PartnersCapital Group
Direct:9[redacted]
Office:949.916.3900  Fax:949.916.3901
[redacted]
   "Direct Lender since 2005"
From:[redacted]]Sent:Thursday, October 22, 2015 10:07 AMTo:[redacted] <[redacted]>Cc:[redacted] <[redacted]>; [redacted] <[redacted]>
Subject:Re: [redacted] Rescission
 
Hello and Happy Thursday [redacted], 
I did receive your message and [redacted] has responded to the complaint that was filed with Revdex.com. I have attached a copy of her response that stated that she would allow [redacted] Fun to cancel this contract. Additionally, I have attached my acceptance and response to [redacted]'s offer to cancel the contract.
Thank you,
[redacted] 
[redacted]
From:[redacted] <[redacted]>Sent:Monday, October 19, 2015 8:45 AMTo:[redacted]Cc:[redacted] - [redacted] inflatables; [redacted]Subject:FW: [redacted] Rescission
Hello [redacted],
Here is the time line that was given to me by my people.
Please let me know if you agree.
I look forward to better understanding your requests.
Semper Fi,
[redacted]
Director of Sales

Revdex.com:
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. [redacted] is returning the check that was issued by Partners Capital Group. [redacted] will issue a payment of $2,105.66 to Partner's Capital for the Ninja Jump item and is calculated as follows:  $3,495.00 Ninja Jump - [redacted]s item(1,389.34) [redacted]'s Security Deposit check no. [redacted], issued on September 21, 2015$2,105.66 Balance owing for Ninja Jump item We are requesting the following items: Proof that Partners Capital Group and [redacted] Leasing are releasing [redacted] LLC, [redacted], and [redacted] from ANY and ALL financial obligations that have been associated with Agreement #[redacted] and Contract #[redacted]. Release or cancellation of the UCC filings that may or may not have been filled on the [redacted]s and [redacted] House Maze that was associated with Agreement #[redacted] and Contract #[redacted].Once we have received the requested items the full and final payment of $2,105.66 (see attachment) will be issued immediately. 
Regards,
[redacted]

Customer filed this complaint by mistake.
They never once called nor asked for help with their account.
Upon calling them, we answered all their questions and issues them a refund. I gave them your number to call and they will be calling to confirm this.
Please remove this complaint.

1) Customer requested that we prefund their vendor 50% which we did. The term does not start until the equipment is delivered and the vendor paid in full. (See attached #1)
2) Per the agreement the customer must provide insurance which they did not. If they don't provide insurance we have the right...

to insure and bill which is what we did (See attached #2)
3)Copy of the insurance that was placed on the equipment (See #3)
4) In April 2014 the customer provide insurance and at that time we stopped insuring the equipment and issued a refund of $263.92 (See #4)
We are billing payments as the original agreement states. We have not modified or changed any agreement.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
Regards,
[redacted]
Partners Capital can cancel the insurance flat (no premium is due) according to the carrier that provided the insurance.  Insurance was in force for the period of time that Partners Capital is billing for.

Customer funded lease with Partners Capital in October 2013. We offer leases and loan, both have different tax benefits and customers...

have many different reasons why they chose one over the other. This customer requested a lease so we funded the equipment as a lease. (See attached)
 
The documents clearly stated a monthly payment of $427.15 (Plus applicable tax). We applied sales tax to the payment as the documents clearly stated.(see attached)
 
Per the complaint, the customer wants to terminate the lease with no penalties, we can do that. They also want to change the lease into a loan, we can do that as well.
 
We sent the following email to the customer yesterday
 
(email)
 
[redacted]
 
I was given a copy of a complaint you filed and I wanted to see if I can help.
 
You mentioned you want to A) Pay off your lease with no penalties. We can do that. B) Revise the lease and make it a loan. We can do that as well.
 
If you are still interested in doing these things, please give me a call or email.
 
 
[redacted] [redacted] [redacted] [redacted]

Customer signed our agreement which clearly states “Proof of insurance must be provided to us at lease exception…….If you fail to timely provide such proof….we will obtain an insurance policy…you agree to reimburse us the premium”. (See attached) We offer this service to be easier to fund leases and...

loans and at the same time we are able to save our customers money on their insurance policy. Customer did not provide us with proof of insurance so we obtained a policy and billed the customer as the agreement states. August 4, 2015 customer provided us with proof of insurance. (See attached) August 4, 2015 we removed the insurance from the customer’s bill. (See attached) We did exactly as the customer instructed and the day we received proof of insurance we removed it. Exactly as the agreement states.

Quick and painless transaction. Our company had a great sales representative that explained everything to us and took the time to answer all of our questions. We found the CNC Lathe we wished to acquire and an approval for our equipment the same day. We received documents from their funding team via email that day. Everything moved along so quickly we had our new equipment before the end of the week and were already generating more money. HIGHLY RECOMMEND.

1.    The equipment was just financed this year in April 2014, not last year as claimed by PCG. Agreed
2.  Invoices have never been received timely, despite PCG's assertions and promises to the contrary.  Typically, we have needed to request copies of invoices late in each month because we had not receives them by mail in a timely fashion. We mail over 2,000 invoices each month and they have always gone out by the 5th of each month for the last 10 years. Of the 2,000 invoices we mailed last month, not one customer claimed to have not received it or not received it in time. They claim to have received the bill just not in a timely manner to get it paid on time. Not sure what “timely manner” means but if they had a problem with making the payment on time, they should have called us; furthermore, is was not paid until 23 days later.
3.  We did not make the 8/1/14 payment by check because PCG was making and was supposed to continue making automatic ACH withdrawals each month, as authorized under the agreement.  All previous payments were ACH transactions initiated by PCG on the first of each month without waiting to see if a check would first be received from us. There was no reason that we should have expected the August 2014 payment to be any different from previous months' payments. Not true, an invoice was mailed each month with a clear due date and remit to address. If this is your assumption, why did you mail the check 23 days late?
4.  PCG did not provide "a few days grace period" before charging a late fee.  If the payment was due on 8/1/2014, then a few (3) days grace period would have allowed payment to be made on 8/4/2014 without a late fee being assessed.  PCG did not wait a few days and, therefore, is again not accurate in its statement. Our contracts are very clear, the payments are due on the first, the bill was not paid until the 23rd.
5.  Despite PCG's claim, neither the July nor August 2014 invoice was ever mailed to us.  We specifically requested both invoices when they were not received timely and then later received them by email in response to our requests. Again, the other 2,000 customers all received their invoices so they have no claim that they did not receive an invoice.
6.  We should not have been subject to a late fee, since PCG was supposed to automatically debit our bank account on 8/1/14. Payment was due on the 1st and the payment was mailed 23 days late.PCG's explanations are thoroughly inadequate and inaccurate.  They simply create facts to fit its narrative and to cause a fraudulent revenue stream of late fees and other fees to continue.  Interestingly, PCG never addressed our claim that it made several previous unauthorized ACH withdrawals, which would have further increased its revenue (and continued to do so) had we not uncovered its wrongful conduct.  PCG's behavior has been unconscionable.  It is astounding that, rather than refunding the appropriate funds to a relatively new customer, PCG would rather create a false story to perpetuate its unauthorized debits from our bank account.  This should not be permitted to continue.
 
Summary, we have a contractual agreement between our companies. The agreement clearly states when the payments are due, how much the payment are and if not paid by the 1st of each month, it is subject to a late fee. The bill was paid 23 days late and per the contract is subject to a late fee. This is not a question or concern about a verbal promise it’s about a clear and concise written agreement that clearly details when the payment is due. They make a comment that they never received the invoice then in the same email state they received it late, another contradiction to their claim.
Regards,
[redacted] 
 
[redacted]
Partners Capital Group
Direct: [redacted] 
Office: 949.916.3900  Fax: 949.916.3901

With regards to Partners Capital Group's response, they ignored the substance of my complaint, just like the many unreturned emails and calls I have made to Partners Capital Group regarding this issue.

Reply: We have several customer service reps and they can be reached by calling [redacted] or [redacted], both numbers and emails are listed on the monthly billing invoice. I’m sorry you were not able to reach anyone. In the future [redacted] who is the manager of this department can be reached directly at [redacted]. Our previous Revdex.com response addressed you issues and included copies of the documents in order to clarify your concerns.
After the 36 month contract for the equipment ended, they continued to deduct funds equal to the past payments out of our checking account.

Reply: We funded this loan as a 36 month term, collected two advance payments with 34 additional loan payments due. We only collected 34 additional loan payments. (See attached finance agreement)
They owe me the following: 12/01/15 deduction #37 of a 36 month contract from my company account of $636.39 , and 01/04/16 deduction #38 of a 36 month contract from my account of $636.39. The first and last month’s payment of $1,397.78 was made on 12/13/2012. A subsequent 34 additional automatic payments were made starting 01/07/2013 to 11/02/2015. The 12/01/2015 payment was covered with the first and last month’s payment, yet you continued to deduct the same amounts for December 2015 and January 2016. You need to refund the $1,272.78 that was removed from our checking account.
Reply: The customer financed printing equipment from PFS who required 50% down and 50% upon delivery (See attached invoice) The customer signed the Delivery Guarantee that stated they wanted us to pay PFS 50% up front and 50% upon delivery and acceptance and that is what we did (See attached delivery guarantee). We sent the prefunding check on 12/14/12 and the final funding check on 1/2/13 when we final funded the loan. (See attached checks) The loan commences when the vendor is paid in full which happened on January 2nd 2013. The customer was billed 34 additional payments.

[redacted] and [redacted] at Partners Capital have funded over ten leases for my business over the last few years. Great guys, great company. I will only use Partners to finance equipment

100% of this complaint false. We canceled his "non-cancelable" agreement after we did all the underwriting and documentation. We gave him a full refund (see attached) Here is the email we sent this customer.
Dr [redacted],
You have made false statement and accusations about Partners Capital in a public forum.
There have been several law suits where the person doing such an act has lost and has had to pay legal fees, fines and punitive damages. Based on your claims and outright lies, we are getting very close to pursuing legal actions against you personally and your business.
You applied for financing and were approved. You told us you were getting 100k in equipment so after we did all the underwriting at our cost, we approved you for a loan. We then prepared the documents at additional costs and sent them to you. We then paid for you to overnight them back to our office.
We then started funding your loan only to find out you were not getting 100k in equipment like you stated and that in fact you were only getting around 30k in equipment. We then offered to finance the 30k which we then got approved. More costs and time on our part.
After signing our non-cancelable agreement, you demanded that we cancel the transaction which we did.
We then sent you a full refund even though our contract states “If this transaction does not fund for any reason, the deposit is deemed earned to compensate us for our costs”.
You received the refund check and deposited it. (Attached is a copy of the check, your signature on the back and proof you deposited it)
I am going to copy the Revdex.com on this email and demand that you contact them immediately to recant your false complaint against our company.

Revdex.com:
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 for the business to perform this action and, if it does, will consider this complaint resolved. I would like to amend my complaint against Partner's Capital Group.  They have now complied with our original agreement.  I would like to change my last e-mail to satisfied.  The matter has been resolved.
Regards,
[redacted]