Partners Capital Group

Review: In April 2013, we entered a 12 month loan to finance some new software. We recently realized Partners Capital has charged us a late fee on 7 of our 9 monthly payments even though we were set up as a direct debit from our bank acct. We have tried to contact persons responsible with no returned emails or voice-mails nor any response for over 3 weeks. We sent a certified letter explaining our grievance and only then received an email stating the ACH withdrawal form we filled out was only for late payments and associated late fees. This is not true. They refuse to refund our late fees which are no fault of ours. They also say we have 4 payments (totaling $5,723.73) left when we only have 3 (we have made 9 of the 12 payments). We sent further correspondence detailing that when we accounted for our 3 remaining payments less the late fees and our security deposit that can be applied at the close of our loan, Partners Capital actually owes us $30.75. we have requested a "Paid as Agreed" letter and the refund, but communication has again been closed off and we cannot reach anyone to speak to. All we want is to close the loan with no spot on our credit.Desired Settlement: The refund of $30.75 and a "Paid as Agreed" letter. An apology would be nice as well, but I am not holding my breath.

Business

Response:

I personally sent [redacted] the following email and will refund him $30.75 on Monday.

(Email sent)

[redacted],

I was just given a copy of a complaint you filed requesting a refund of $30.75 and a “paid as agreed letter”.

Is this something you still want or need? Please let me know so I can issue a refund and email you a “bill of sale” form.

(Here is his response)

From: [redacted]

Sent: Saturday, May 31, 2014 7:39 PM

To: [redacted]

Cc: [redacted]

Subject: RE: Revdex.com

Thank you very much.

Review: the company is not willing to correct billing errors and has not issued a refund that is owed to me. I bought a digital panorex machine from a vendor and partners capital group financed the machine. I was told for the total loan $15,900.00. I would have 60 payments with the following breakdown. payment #1 $384.52 payment # 2-4 $99 and then payment #5-60 of $384.52. I was never informed of any additional charges. furthermore, I had clearly indicated NO ACH. the rep. Mike Franke had agreed to this fact. in the original document on the page where they asked about ACH information. I had written " N/A" even though I had made a payment of $826.62 in december 17,2014. and the partners captial group did not fund the vendon until jan. 10, 2015. they charged me $256.40 from 12/12/.14 to 12/31/14 $12.82 per day for the total of $256.40. in addition they charged me additional payment of $384.52 in 2/1/15 and will not provide an explanation of the charge. they continuously take money out of my checking account even though I had agreed to NO ACH.Desired Settlement: I would like my refund issued to me immediately.

Business

Response:

Customer was issued a refund back on February 9, 2015. See attached.

Regarding his other issues, the lease agreement funded on December 2, 2014 when his vendor was paid in full. See attached check #[redacted] for $15,900 payable to his vendor. The monthly payments started when we funded the lease in December, not in January.

Regarding the monthly ACH, the customer signed the Lease Agreement which clearly states the payments are to be made via ACH. See attached

Review: we are being charged for insurance that we already have, and have provided to them per their contact, even thru our contract was handed over to Financial Pacific Leasing and they show we have insurance on file. I have asked them to refund our money but they say they can't (not sure why) but they keep deducting this money from our checking account.Desired Settlement: for them to refund the money they have stolen out of our account.

Business

Response:

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.

Consumer

Response:

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.

Regards,

They offer 100% financing which is awesome!!!

Review: On 12/13/12 I signed a 36 month equipment loan contract with Partners' Capital Group along with a first and last month’s payment along with D\"Doc Fee" of $1,397.78. I also authorized an Authorization Agreement for Pre-Authorized Payments for the Lease/Loan #10599 which I was led to believe by their sales person that this payment authorization would cover the remaining 34 payments of $636.39 each. They took out the first payment on 12/14/2012 and the second one on 1/7/2013 and labeled them "interim-rent" which they did not apply against the loan. The the first "Payment #1" was taken out on 2/1/2013. Subsequently, monthly payments of $636.39 have been withdrawn from our account, which according to a statement I received from them on 7/27/15, should have ended with the 12/1/2015 payment. According to this statement the 1/1/2016 payment was "Paid" with the first and last month’s payment. Also please note, if the "interim rent" payments taken out in the first two months were counted as payments against the loan, which they should have, the final payment should have been on 10/1/15. On 1/4/2016 they took out another $636.39 from my company checking account which was unauthorized. There were no additional payments due. The terms of the contract was more than satisfied with the final 12/1/2015 payment. My calls and emails to Partners Capital Group go unanswered.Desired Settlement: I want the unauthorized payment of $636.39 that taken on 1/4/16 from our checking account returned and no further unauthorized funds taken from my account. This contract should have ended. I also would like the 12/14/2012 payment of $656.78 and the 1/7/2013 amount of 636.17 that were labeled “Interim-Rent” to be returned. We signed and returned all contract documents on time. Because the equipment was not delivered and operational for those two months, along with their delay in funding the equipment to the supplier, they labeled the payments as rent payments. They should have been payments against the loan, not "rent" payments for equipment we did not have in place yet. I would also like that amount of $1,292.95 which was labeled as rent refunded.

Business

Response:

Partners Capital funded a loan for ASAP Reprographics and all payments have been made. Attached is a copy of the "Bill of Sale" issued to ASAP Reprographics showing the loan has terminated and no further payments are due.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action is incorrect and would not resolve my complaint. For your reference, details of the offer I reviewed appear below.

With regards to Partners Capital Group's response, they ignored the

Review: Space Time Insight, Inc. ("STI") entered into an equipment lease agreement with MD Capital Partners Inc. d/b/a Partners Capital Group ("PCG"). As part of the agreement, PCG was authorized to automatically debit STI's bank account by ACH transactions for all payments due under the lease. On numerous occasions, PCG wrongfully debited that bank account and subsequently refunded to STI most of the amounts due and owing to STI. However, on 8/4/14, PCG debited STI's account late for a payment due on 8/1/14, and assessed a purported late fee in the amount of $253.67. Since PCG was responsible for automatically debiting STI's account in a timely manner, its failure to do so enabled PCG to charge and profit from this late fee and debit STI's bank account for an amount greater than that which was authorized under the lease agreement.

All prior monthly payments were automatically debited by PCG from STI's account without delay. PCG first admitted to being authorized to make the monthly debits from STI's account. Now, however, PCG is wrongly claiming that it was not authorized to make automatic debits, unless STI failed to make timely payments by check.

Despite repeated efforts to recover the wrongfully assessed and debited late fee, PCG has failed to refund any portion of the amount due and owing to STI. In this regard, STI requires a refund of the entire purported late fee in the amount of $253.67.Desired Settlement: PCG should provide a refund to STI in the amount of $253.67.

Business

Response:

This customer financed equipment with us last year. On or about the 3rd of each month an invoice is mailed to all our customers, over 2,000.

All our invoices clearly state a due date and a remit to and address. Space Time’s monthly payments have all been due on the first of each month.

Space Time did not make their July usage which was due on 8/1/14. After a few days grace period, they were charged a late fee.

Attached is a copy of the monthly invoice that is mailed to Space Time along with a due date and address to send payment. Also attached is a copy of the agreement which states if a payment is late it is subject to a late fee.

Partners Capital Group

Office: [redacted]

Consumer

Response:

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.

Almost every statement made by Partners Capital Group ("PCG") in its response is untrue.

1. The equipment was just financed this year in April 2014, not last year as claimed by PCG.

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.

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.

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.

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.

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.

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.

Regards,

Business

Response:

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,

Partners Capital Group

Direct: [redacted]

Office: 949.916.3900 Fax: 949.916.3901

Immediately after receiving our products we purchased the required insurance. We have NEVER been late or missed a payment on our equipment. We are now 5 months into our lease agreement and suddenly we are getting charges to our PERSONAL bank account for "insurance"(which they STOLE this account information from a check written 6 months ago for our down payment) I have NEVER given authorization to make any further charges to this account which has now over drafted my PERSONAL account. I showed them that we had all the required insurance needed and I kindly asked to be refunded and to please cover the over draft fee. The most RUDE billing department replied "no refund will be made your insurance policy has the incorrect wording" So I QUICKLY had it fixed. When I pointed out that they stole my personal bank account information he instantly got snappy and told me that they have every right to take bank information from any previous checks and debit my account as needed. My main issue is that I never received a bill, phone call, or email addressing this issue. Had they reached out to me, ALL of this could have been avoided. And now I am waiting for the owner to call me back..... Not going to hold my breath!

NEW TOPIC:

Called to potentially pay off our loan of about $14,000 and in order to do so I would have to pay nearly $34,000. This place is absolutely corrupt stay FAR AWAY!