Alliance Funding Group

Response to complaint #[redacted]:
Alliance Funding and [redacted] entered into an equipment lease/rental contract with a base term of 36 months with an option to do one of the following at the end of the rental term: a.) Purchase the equipment for the fair market value of the equipment; b.)...

Return the equipment or c.) Trade it in on a newer unit. The rental payment in the contract is $494.71. Nowhere in the contracts does it state nor was she ever told that she would build equity towards her end of lease purchase. The fair market value is not even determined until all scheduled lease payments have been made.
On 4/6/12 Alliance Funding Group, Inc. billed and collected $791.52 for a pro rata charge from 2/13/12 – 4/2/12. This is due to the fact that the vendor that Ms. [redacted] chose had difficulty delivering her equipment on time and that Alliance Funding Group pre funded half of the equipment cost
Alliance Funding Group, Inc. pre funded half of the equipment purchase on 2/13/12 in the amount of $4,971.02.
Alliance Funding Group, Inc. funded the second half of $4,970.75 on 3/30/12
Please see document: Authorization for Payment to Suppliers Prior to Lease Commencement Date.
Signed by Ms. [redacted]. She was aware of this charge. And understood that this charge does not go towards any part of her scheduled lease term or end of lease purchase option
The advanced payment of $1089.42 was the first & last credited towards the stream of 36 payments.
34 payments assigned to Fin. Pac.
Our desired resolution proposal:
$791.52 will be credited towards the equipment purchase option once the original lease payment terms have been paid in full.
Regards,

As a CA licensed lender in business for over 17 years with over 10,000 customers and a A+ Revdex.com rating, I can assure you, we do NOT run loan scams. I also ran a call report with your business number. We've called your business during normal business hours a total of 3 times, NOT a dozen, in the last...

year. I listed the dates and duration as evidence below. We are a very reputable Equipment Leasing Lender. However, I do apologize that you feel we've harassed you and assure you, we will not contact you offering our services again. I have taken the necessary steps to purge your company data from our system. Thanks, [redacted].
04/13/2015 @ 11:09 1:09
04/27/2015 @ 3:27 :36
07/07/2015 @ 2:42 :41

The terms of the contact are what are most important. Hearsay is not a legitimate argument for breaching the contracts. There is nothing in the contract that supports Mr. [redacted]'s statements. The terms and responsibilities of the original signed agreement cannot be changed or altered.

Alliance Funding Group initially spoke with [redacted] when she called in and advised her of the Interim rent charge and what time period it covered. Although the interim rent explanation is written into the agreement, she claims she wasn't aware of it. Or wasn't verbally told of the charge....

Alliance Offered to credit her account $600.00 in good faith,. However, [redacted] chose to stop payment on the full amount. Alliance would have had to wait 7-10 business days for her payment to clear before any credit would be given. Through [redacted]'s own action of stopping payment, Alliance Funding Group has agreed to waive the entire interim rent. Alliance Funding Group considers this matter resolved as the customer requested.

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.
Revdex.com,
The
response from Alliance was misleading and of very little detail. To address
their arguments:
Mr.
[redacted] entered into a 2Year lease contract with an option to purchase after the
24th payment. Nowhere in the contracts does it lead Mr. [redacted] to think this is a
loan.
We
were looking to finance a repair of a machine, we already own the piece of
equipment. Why would we have an option to purchase a piece of equipment that we
already own? If any of this was properly explained prior to execution, this
entire situation would have been avoided.  As Alliance is a professional
financing company, we feel that they failed to properly explain the details of
the agreement.
To
state that Alliance Funding Group is unethical, misleading &threatening are
unfounded and gross overstatements.
These
are not “gross overstatements”. We reached out to Alliance to finance a repair.
We explained our situation and asked for their expert advice on the best way to
have the repair financed. Alliance assured Mr. [redacted] that this option would be
best for him. Mr. [redacted] unfortunately instilled his trust to the agent. We do
not think it is reasonable for us to effectively make Alliance the owner of our
equipment, in order to finance repair of said equipment. They are now
essentially trying to sell us back our own piece of equipment. Had this have
been adequately explained to Mr. [redacted], he would have never agreed to this type
of financing structure. No reasonable person would. To recommend or even draw up
documents for this type of finance in our situation is both unethical and
misleading. We challenge Alliance funding to counter this statement. Alliance
has both threatened to commandeer our piece of equipment and to withdrawal,
without our consent, additional funds from our bank account. We do not have any
documents stating any sort of reasonable compromise.
To
the contrary, Alliance has attempted to resolve the issue through negotiations
in which Mr. [redacted] refused to partake in.
The
“attempt” of Alliance was to slightly reduce the buyout figure of the machine.
Mr. [redacted] did not refuse to partake, he refused an unfair compromise. We would
like Alliance to share with the Revdex.com their “attempt to resolve” the matter at
hand.
In
closing, a professional financing company would not in good faith execute this
type of lease structure to any of their clients, plain and simple. They assured
[redacted] construction they would assist us in financing the repair in the best
possible method to suit our needs, any they obviously have done just the
opposite. To ask for approximately 35K on top of the amount financed and its
interest, is overly excessive and we stand by the statement that is unethical
business practice. We would like to thank the Revdex.com for helping us expose these
damaging practices and look forward to closing this case.
Regards,
[redacted]

Revdex.com,
Mr. [redacted],
The piece of equipment, a 30 year old crane, was owned by you at the time we started negotiating. However, it needed serious repairs to be operational. Per the terms of the contract, we took title to the crane as collateral when paying $100,413.44 for new parts to get the crane up and running. A new crane would cost over $300k.

As the owner of your business you are also responsible for reading contracts before signing them and asking questions. To simply pass blame on us is ridiculous. Our contracts are crystal clear sir.
Your attempts to bad mouth us as a way to ignore your contractual obligation is sad and hurtful.
We do not agree with your remorseful statements towards Alliance Funding. We would like to reach an amicable solution.
I've made 4 phone calls to your office that have gone unanswered. ( Alliances attempt to negotiate and resolve) It only works when you participate.
Mr. [redacted], I urge you to call our office in attempt to resolve this once and for all.
Your negligence and misunderstanding are not an excuse to default on the terms of the contract you read and signed.
Respectfully,

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 as snotty and unprofessional as they are.
Regards,
[redacted]

Mr. [redacted] entered into 2 equipment lease agreements each with a renewal period and fair market purchase buyout at the end of each term, not loan agreements. The contracts specifically state the Lessee's responsibilities at the end of the leas term. Renew or purchase.
Alliance Funding Group, Inc....

received written correspondence from Mr. [redacted] 9/16/14 stating that he would agree to pay $468.04 Acct. #[redacted] to pay in full, and would pay $10,000.00 on acct. #[redacted] to settle in full as well. Acct. #[redacted] still has 3 renewal payments remaining. The payoff quoted originally was $19,431.94.
However, management agreed o accept Mr. [redacted]'s offer conveyed in his 9/16/14 email for $10,468.04
Mr. [redacted] did not allow Alliance Funding Group, Inc. to reply in a timely manner before filing his complaint. It appears the Mr. [redacted] filed his complaint 9/15/14. Then made a settlement offer 9/16/14.
Our desired resolution would be for Mr. [redacted] to comply with his own settlement offer of $10,468.04.
Upon receipt of payment Alliance Funding Group will terminate bot of his lease contracts.
Thank you.