Balboa Capital Corporation

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 belowProblem: I filed a complaint last year about this businessNothing was resolvedI am now at the end of another leaseI sent Balboa two emails asking for the year end price for the equipment that I have been leasing from them the past couple of years so that I can know if I want to return it or if it will be worth keeping itThey refuse to give me even an estimateAll they say is to send a certified letter stating what I want to doIs.this legalI have to send it in to them at least days before end of lease but no more than If they get it any later then,my contract automatically renews for another yearDo I not have any right to know what I will be facing at the end of my lease so that I can know if I can afford it? I have already paid for the equipment twice since leasing the equipment back in I didn't realize I was leasing unail the end of first lease when I contacted them for the bill of sales for the equipment and they gave me some astronomical buyout amountThat was when I contacted you guysSince nothing was accomplished I started paying the lease againNow I'm coming to the end and would like to do everything according to the lease but now they refuse to give me a buyout priceOn April 4,I first contacted themThey stated that they would email me the amount in business daysI never received it so I started emailing themStill nothingWhat else can I do? Desired Outcome: Would like to know buyout price before I have to enter into another year of leasing Regards, [redacted]

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 belowThey keep being cynical and unwilling to resolve the issues against our initial agreementThey are dishonest and deceptiveI only accept the resolution of " One year of interest payment on the loan with the option of buy out at the year anniversary with no further interest on the balance of the loanAlso they will need to specify how much of my current payments are going against the principal and how much is interestThey specifically refuse to do this as I predict they want to apply ALL of this monthly payment to "interest only"If they do not have deceptive intentions, they must clarify this in writing Regards, [redacted]

THE ORIGINAL VERBAL AGREEMENT WAS A FINANCE RATE OF 3.99% OVER FIVE YEARS IT WAS BASED ON A $125,EQUIPMENT LOAN AND THE QUARTERLY PAYMENTS WAS GOING TO BE $6,904.61, WHICH IS EQUAL TO THE AGREED UPON 3.99% THE ACTUAL EQUIPMENT LOAN AMOUNT WAS $89,000, HOWEVER I WAS MISLED BY A [redacted] (WORDS CANNOT DESCRIBE HIS DESPICABLE BEHAVIOR!!!) UPON SIGNING AND THE RATE WAS 12% AT A QUARTERLY PAYMENT OF $5,959.99!!! HE INDICATED THAT THIS LATTER PAYMENT WAS INDICATIVE OF THE AGREED UPON 3.99%, AND THAT I NEEDED TO ELECTRONICALLY SIGN ASAP SO THE VENDOR CAN BE PAID UPON RECEIPT OF THE EQUIPMENT I ONLY KNEW THAT THIS WAS AT A 12% RATE BECAUSE OF A FINANCIAL CALCULATOR ONLY AFTER THE CONSUMMATION AFTER NUMEROUS APPEALS EVEN TO A " [redacted] ," SUPPOSEDLY THE HEAD SUPERVISOR OF [redacted] WHO NEVER RETURNED MY CALL, I AM LEFT WITH THE INAUSPICIOUS POSITION TO REPORT THEM TO YOU AND HAVE THE GENERAL PUBLIC AWARE OF THEIR VERY SUSPICIOUS BUSINESS ACTIVITY THIS IS NOT TO MENT

In my 20+ years of working in the Accounting field, have I ever come across a company that is unorganized with their billing and collection processes Our numerous issues on the collection side, has made me regret this decision every day since the contract inception and wont end, until this contract is over in couple of yearsThey're inconsistent with sending paper invoices, and while they offer to pay by CC, the following month they tap on a CC fee on the invoiceThey have cost us so much money on just my time talking to them on the phone about their billing, and my office admin tackling the issues with the copier

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 Balboa Capital only reached out to say that our letter of intent did not state our intentBalboa Capital stalled us when we were trying to get a cost comparison between returning the equipment versus buying it outWe wanted to do what made the most sense to usWe could not make our intention known until we had the costs to compareSo far I have made payments on time which is hurting us financiallyI really wish Balboa Capital will look at our case and give us a very fair resolutionWe paid three times the original cost of the machine and we are paying even more now that it is uselessA satisfactory resolution to me would be to let us out of the automatic renewal and give us the option to return or buy the equipment after we have numbers to compareI attached a copy of the letter which Balboa claims does not state our intent and have highlighted the key points Regards, [redacted]

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 I spoke to a representative of the company last FridayShe advised me to send a letter which she could present to the ownerI did this todayI am a small business owner juggling work in the winery with time in the office and this was the first moment that I had to be able to put together the letter as it was requestedI have responded with my request, as discussed with their representative on FridayI was a couple of days late in sending the letter but I emailed her to let her know this would be the case given my work weekI'm getting really tired of being strong-armed by this company Regards, [redacted]

Please provide a copy of your contract with this consumer– Although this is not a consumer transaction, attached are the Lease Agreements with the Lessee for the lease of commercial equipmentPlease respond to the following points: aFrom the beginning, Mr [redacted] made it clear, in no uncertain terms, that he was seeking a lease-purchase agreement to acquire two pieces of machineryIn other words, Mr [redacted] was seeking a finance company who would pay the purchase price for his equipmentAt that point Mr [redacted] could take possession, repay the finance company over an extended period of time, and, having completed the terms of the lease, take title to the equipment at no additional cost (or a very minimal cost, depending on the duration of the lease portion of the agreement)Balboa repeatedly represented that it understood Mr***'s request and would be happy to provide the desired lease-purchase financing agreement– The customer was aware of the residual/purchase price of the equipment and the Lease Agreements were executed by both parties The Lessee acknowledged that he read and understood each Lease and Guaranty and that each Lease reflects the agreement of the parties Each page of the Lease was either signed or initialed bDespite their knowledge that [redacted] was tax exempt and receipt of a tax exempt form, Balboa abused their right to access [redacted] 's bank accounts by withdrawing unauthorized funds, purportedly for sales tax.It is the customer’s responsibility to provide proof they are exempt Upon receipt of the exemption certificate, the sales tax was credited back to the customer cLikewise, Balboa withdrew funds and applied them to the wrong leasesBalboa Capital applied funds accordingly to the balances due on the Agreements dThese business practices are unacceptable, unethical, and tortiousIn particular, such practices violate [redacted] Code Annotated § 47-18-104(b)(12), the [redacted] Consumer Protection Act and constitute fraudulent inducement to contractFirst, [redacted] law is not applicable Pursuant to the terms of each Lease, California law governs the terms of the agreements Second, even if [redacted] law applied, which it does not, this particular statute would not apply as the transactions are commercial in nature and not consumer transactions Lastly, there can be no fraud when the terms of the agreement are in writing and a simple reading of the contract clearly show the terms eour billing department started out and consistently billed sales tax each month on both the fork truck and press premium paymentsI had correspondence with you that explained since we owned the equipment in the state of [redacted] that we did not have to pay sales taxesWe had to pay the state of [redacted] based on our asset values at the end of each yearIn addition, both pieces of equipment are on our company asset records as being purchasedWe have paid, and will continue to pay out, taxes for local, state, and federal as a lease/purchase agreementWe called the state of California to inquire about why sales tax was being attached to our invoices, and they said no sales tax was due because the equipment was in use outside the state of CaliforniaYou never provided an explanation for the erroneous invoicingIt is the customer’s responsibility to provide proof they are exempt Upon receipt of the exemption certificate, the sales tax was credited back to the customer

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 Balboa Capital is not following the terms of agreement Lease terms and conditions on page one states" Base term in quarters 12, Security Deposit payment Doc Fees 250.00." I have met these payment requirements They are unwilling to properly communicate an appropriate transparent response as to how this matter can be resolved All I am seeking is a detailed and clear breakdown of what obligations I am in their view responsible to close out this contract My expectation is that all funds collected since should be properly applied to my lease to own agreement as it was assured by my dealing with sales associate [redacted] *** The way they have conducted their business has been unethical, misleading and unresponsive Regards, [redacted]

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 Yesterday on June 16the I received a missed call and a voice message on my phone from Balboa Capital while at a lunch meetingAbout minutes later, I received a response from Balboa Capital on the Revdex.com website indicating that they had attempted to reach us but we were unresponsiveMy assistant who has access to my work phone did call back Balboa capital but was unsure what the call was about so she hung up the phoneAbout one hour after I had originally received our one and only call from Balboa Capital about this complaint, I called back and spoke to a rude woman named Jacqueline who argued with me over the phone as to why my assistant called them and hung upThe purpose of calling them back to get some help and what I needThis frustrating and unprofessional experience on our end has led us once again to a dead end without a resolutionI will continue this with the Department of Consumer Affairs and would like the Revdex.com to refer this case over to them as well Regards, [redacted]

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 The entire point of our claim is Balboa’s contracting process There was not full disclosure of contract terms in the contract could not be viewed at the time of signing because it was grayed out except for the signing fields by the software used for electronic signaturesBalboa has contacted us and we are in discussions with themAt this point we are not satisfied with the results but we Will continue to work with them with the hope of resolving this issue Regards, [redacted]

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.Same as before Regards, [redacted]

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 wanted to let you know that my complaint against Balboa Capital Corporation has been rectified They finally produced the payoff amounts I had been requesting for months I will never do business with them again but you can certainly close the case Regards, [redacted] ***

Balboa Capital is a deceptive, predatory leasing company that routinely abuses small businesses, has faced legal action for their practices and deliberately misguides customers with unreasonable contract terms I entered into a contract with Balboa Capital four years agoI am nearing the end of my contract term (attached) and notified Balboa in both June and March that I would not be renewing the contractBalboa is claiming they have no record of these mailings and directed me to the fine print in their contract where they say you must notify them by certified letter Every representative I have spoken with over the course of this lease has been deceptive, unhelpful and threateningIn addition, they make it nearly impossible to warn others about the companyThey have turned off all of the comment sections on their social media (which should be a red flag that what they are doing is unethical)They add hidden fees to everythingTheir salespeople are slick and lie a

We are in communication with the customer and are working to find a resolution that is satisfactory to both parties

Revdex.com: I forwarded my complaint to the Revdex.com, to the company in question They contacted me the very same day I filed complaint ID 10305014, and resolved all the issues listed in my complaint to my satisfaction Please drop complaint ID 10305014, no further action is required on the part of the business or the Revdex.comThe business has fully resolved my complaint Please, see the e-mail included below Regards, [redacted] From: [redacted] @balboacapital.com To: [redacted] @hotmail.com Subject: insurance - # [redacted] Date: Wed, Nov 22:07:+ Hi [redacted] Per our conversation, I have submitted the request to have the insurance charges that were paid on -credited towards the balance for - Also, there will be no insurance charged to the -lease going forward Please advise once the Revdex.com complaint has been satisfied I apologize for any miscommunications and inconvenience If you have any questions, feel free to let me know Thank you [redacted] Balboa Capital Corporation Collections Manager tel.949-399- [email protected] http://www.balboacapital.com

Balboa Capital sold me a loan for $for purchase of a medical laser bought from [redacted] ***Their written contract was very vague, small print and copied multiple times to the point of illegibility I realized two months after getting the loan, that against the initial discussion with the [redacted] rep who made me sign the contract with Balboa, they do not honor the initial loan terms: The want more than what was agreed on, they do not honor the buy out at year of loan payment without prepayment penalty, they do not take balloon payments against our initial discussion, they don't disclose who much of monthly installments is the principal and how much the interest, and they want to charge interest on the balance of years of the loan even if I pay it off at the first anniversary ( against our initial understanding)They have almost NO CUSTOMER service, their terminology is very vague, they can not be reached, ad they are rude, and purposefully vague in their terms, conditions,

Provided requested info

Balboa Capital has refunded the full deposit to the customer per the terms of the proposal size="3">

Leased a piece of equipment Company forced placed insurance without written prior noticed of forced placed insurance We have insurance on equipment but the company keeps giving run around on what they needEach time my agent sends what they ask and they change it each time I looked up laws and they are required to put in writing and mail to address to notify days prior to any forced placed insurance They are charging an absurb amount I'm looking for reimbursement of the forced placed insurance of I'm also looking at contacting local attonery to see how many laws they are in violation of

We are abiding by the terms of the Agreement signed and agreed to by both parties