Balboa Capital Corporation

I do not recommend entering into a contract with this company Contracts are cleverly written Unless you read all of the fine print and follow to the letter, experience can be very costly They financed a telephone system for us, with option to purchase Contract seemed reasonable at initiation; .we ended up paying what resulted in exorbitant rent on what became an obsolete system and then they set buy out price in excess of newer system

This company is illegally charging me for late fees when this company has already received payment As shown on my credit card This company has also illegally tagged on "non insurance fee" for $per month for no reason and when I call the same guy is answering but he is claiming a different name, one time its *** and one time its Mathew This total price now is $which is not the agreed from the original contract This company keeps harassing me with emails and calls that I have not paid However, I have This company is threating to take me to litigation for this However I feel it is very UNJUST!

We (our company) had contacted *** *** about leasing one of their commercial machines including product After a couple months communication, they forwarded us to Balboa Capital to fill out a lease application We filled it out and had it submitted to ***, but now *** had another (insurance type) requirement to allow the lease to go through and this was the final blow for our CEO, they had just made far too many requests So *** never leased anything to us, or sent us any product, they wouldn't because we didn't have the kind of property insurance on our rented premises However, Balboa has charged us a $deposit, and two monthly charges of $each I have e-mailed Customer Service and was told to contact *** *** at *** I call every morning at AM PT and leave a message and then I call every two hours throughout the day - always going straight to voice mail (but I don't leave messages each time)

Balboa Capital is abiding by the terms of the Agreement signed and agreed to by both both parties

We have reached out to the customer and resolved the inquiries outlined in this complaint to the satisfaction of both parties

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
The documentation was changed from the verbal agreement that was presented by the salesman ( *** ) and myselfI was urged to sign what I believed to be a dollar buyout agreementThey knew going into the deal that what was being financed was fixtures and not equipmentWe were misled and now *** *** claims to our attorney that I wanted the agreement changed to read the way it now readsThis is totally untrue and fraudulentWe satisfied the loan which was to be a month fixed term loanWhat they did was agree to one thing and had me to sign an agreement that was not what we agreed uponSince I am not a lawyer, I was misledThere are many other complaints by businesses with exactly the same similar situations It was a classic bait and switchTherefore, my desired outcome will be to end this fraudulent misrepresentation and accept the month agreement as it was presented originally by *** ***We fulfilled our loan obligationThis is not equipment and has no value to anyone but us because they are permanent fixtures to our buildingBalboa claiming they have value is total bogus and untrue
Regards,
** ***

Revdex.com:
I have not received anything from the business in reference to complaint ID ***, and have determined that this lack of action would not resolve my complaint. For your
reference, details of the offer I reviewed appear below
Nothing has been done, Balboa Capital hasn't done anything other than taking my money]
Regards,
*** ***

I leased trucks from Balboa Capital in I was to notify them between and days of the lease completion of my intentI sent a letter in November of stating I would be returning the vehicles at the end of the lease termI never heard from them but left several messagesThey finally responded to me in April with a payoff in the amount of $ I realize my notice was a month early, however I accepted the payoff to mean they received my intent to not purchase the vehicles It's now August I have yet to receive instructions on how to give the vehicles backThe new payoff reflects $16,523.81, that's another year added to my lease and does NOT include the purchase of the vehiclesI was not aware of an issue let alone another year added to my lease

I engaged in a Equipment Lease with Balboa Capital for about 125k of equipment that I purchased for a new NAPA store we opened, we have total I dealt directly with VP Branch manager *** *** I informed him that I had enough funds on my line of credit to pay for equipment but I wanted to keep my available cash and possibly get a lower interest rate I have a degree in Finance and worked for a major bank doing lending and investments for over years, he immediately used our common ground and built a good relationship with me over numerous phone conversations and emails The major problem is that *** completely lied to me to get the deal done knowing we didn't really need the money and very well knowing I was going to pay way more to deal with him He built trust hoping that I wouldn't read every detail in their page lease agreement I asked him specific questions that he flat our lied about For instance, when we draw money on the lease as it may take to month

Very deceptive lending practices!! We were quoted a 6% lease on the equipment and decided to go with Balboa instead of our bankWe are now leasing our equipment from Balboa and because of the sketchy contract we will be paying 34% interest on this loan/lease! We were told we could pay this off early with no penaltiesDo yourself a favor....TAKE THE CONTRACT TO A LAWYER!!! Very, very fine print and you will need a law degree to figure out exactly what you are signing!!

I filed a complaint against Balboa last monthThey apparently told the Revdex.com that they had tried to contact me and I
hadn't responded and so the Revdex.com closed the claim(1) They have never contacted me in writing to address my complaintThis is consistent with their previous practice of doing everything verbally to protect themselves (this has been noted in previous complaints against them I noted)(2) They left me one voice mail message while I was out of the countryI have called the contact person several times but the person never picks up and has not responded to my voice message(3) The complaint has not at all been resolvedI was expecting this from Balboa given their history, but I'm disappointed that the Revdex.com decided to drop it so quickly and I wonder who their priority is - the customers using their information or the companies listed.Balboa has extracted another payment from me which I thin is unfair and I'd like to have this returnedThey have also sent me a late charge notice for the bill which I was able to stop (despite the ACH clause in their contract which appears to give them unrestricted access to my business accountI would like the lease terminatedI think I have paid fairly for the equipment alreadyI also would like to know that their sales team are being better educated and/or managed so that they accurately present the products that they offerGiven the current financial climate, there is definitely a need for the type of products that they offerIt's not what I was looking for though and I think their sales team needs to be trained to offer a clear understanding of their products instead of aggressively gaining sales at any costI think they also need to consider the ethics of their communication policies

We reached out to the customer and came to a satisfactory resolution

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 for the business to perform this action and, if it does, will consider this complaint resolved
Regards,
*** ***

Our company entered into different agreements with Balboa Capital Corp in October of We were told the interest rates would be in the neighborhood of 8-9% The Master Lease Agreements entered into with Balboa were immediately transferred to other servicing companies The total of all of our equipment leases was approximately $million Quarterly payments on each agreement were setup and automatically deducted from our bank account quarterly without issue In we decided to pay off of these contracts early I reached out to the current servicing companies only to be redirected back to Balboa for a payoff quote When the payoff quote was sent to our company it did not match watch we had calculated in our amortization schedules, it was off almost exactly one payment on each contract So I reached out to Balboa customer service to investigate the issue The service representative I spoke with informed me that the difference was due to prorated prefund rent per ou

This company will continue to charge a non-insurance fee despite receiving the insurance information at least times over the past months It's probably a service fee scam I instructed my bank to block ACH drafts from this company because of this non-insurance fee scam It's probably happened to other companies, so be vigilant!

I have been receiveing repeated phone calls and/or e-mails soliciting our business for a loan for over years I continually tell the representative that we are not interested and ask that they remove us from your list A few days later someone else contacts me We go through the same conversation We have never once reached out to Balboa to express interest in their products or servces, yet they continue to harass us in hopes that we will all of a sudden be iterested in applying for a loan with them This repeated harassment has gone on long enough and needs to stop

We just got a loan from these people and the hidden charges just keep coming inWe contacted them and all they do is hang up the phoneWe payed our own tilting and then we got a bill for the titling workPlease don't do business with these people, they are crooks! They said our interest rate was 5.8% and when figured out its more than twice that amountSomeone needs to put these people away,

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 for the business to perform this action and, if it does, will consider this complaint resolved
Regards,
*** ***

I purchased a laser in September and set up a lease with Balboa lease agreement number ***
in October I received a notice to supply a certificate of insurance my agent with *** *** came in a couple of days later and he call his company and had a certificate sent
in December a non insurance fee was charged to my account $and I contacted my agent again and he confirmed that they had sent the first set of form but would send a second set
as of March we have sent three sets of Insurance forms
In phone conversations I was told that we had used the correct email address but they could not find the first two sets of certificates that was convenient I did call them several times and always got a runaround wither they had the forms or not or could find them
On may 26th I received and email it says the they had accepted the insurance forms but would not be removing the existing charges I called and after a long conversation I was told the a credit wo

how in the world do they have an A+ Revdex.com rating when 85% of the reviews are negative This company has terrible business practices and even worse customer relations