Balboa Capital Corporation

We have contacted the custemer and reached an agreement 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
This is not trueBalboa Capital clearly knew what our intent wasNo call backs to get an address to send a certified letter to is why it was never sentNo address at all is listed in the contract anywhere
Regards,
*** ***

in October I entered into an agreement with this companyTo this date I get harassed for monthly payments weather its late one day or even if they forget to invoice me which happens often and I feel its being done to tally up late surcharges at 12%
Long story short late in we have to do an aCH for quick payment cause we didnt get an invoice again! (we have dozens of loans and a ton of equipment) so we did an ACH
In December I saw an ACH come out for $+/- it was balboa, they took it upon them selves without authorization to steal money out of my account for a penalty that was not authorized nor was late as my loan has a grace period on itI am no faced to file a complaint with the Dept of Insurance and banking Dept in the state of NJ
dont do business with this bank period, if you are despite I suggest find a new line of work its not worth the hassle and rude phone calls

Revdex.com:
I have reviewed the response made by Balboa Capital 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,
*** ***

Revdex.com:
I spoke with *** ***, the supervisor at Balboa Capital today at 2:p.mpst and have reached a "tentative" agreement with the 3.9% financing offer that was originally given to me
He will forward me the documents required to obtain this financing rate, however we are just starting this process, therefore will take ample time to reach an accord He did absolve the matter of the original sales agent, *** *** being "new" to the company for the error involved Regards,
*** ***

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 business is not charging us in accordance with the agreement (attached)Buried in the fine print is the clause which allows them to charge us additional charges from the time we sign to the time we acceptNote the agreement limits the additional charges to month payment, but we were charged for monthsPrefund rent shall continue to accrue from the date Your supplier(s) are paid to the date of the execution of the Delivery and Acceptance Certificate or thirty (30) days, whichever period is shorter, as is discussed above."In addition, You shall pay Us prefund rent from the date of the prefund verbal verification based upon the aggregate amount of Our payments to Your supplier(s) multiplied by the daily equivalent EFA rate set forth in the EFAThe daily equivalent EFA rate is equal to one-thirtieth (1/30) of the quotient that results when dividing the monthly rental payment of Your EFA by the aggregate invoice amountPrefund rent which is not paid within five (5) days of its due date shall be subject to a late charge equal to 18% of each such delayed payment or any other such maximum amount allowed by law in a lesser sumOnce all of the Equipment has been delivered and installed, You shall sign and date and return our Delivery and Acceptance CertificatePrefund rent shall continue to accrue from the date Your supplier(s) are paid to the date of the execution of the Delivery and Acceptance Certificate or thirty (30) days, whichever period is shorter, as is discussed above.We would like a refund of the additional amount we were charged ( about $11,) plus penalty charges of 18% plus 18% pa from the date we paid the $11,( the same rate we have to pay Balboa if we are late ).We would Balboa to explain the other additional charges as show in the attached spreadsheet, as we are not able to find the clauses that permit these charges
Regards,
*** ***

This company says it loans money to businessesThey actually call it rentThe terms they promise you in their email approvals are far from trueThey hit you with a prepaid interest fee from the closing date to your supposed first payment due date equal to about one month's paymentBeware that at the end of what you think is a loan you will not own whatever you boughtYou have to buy it at a very high rateThis business engages in VERY deceptive practicessI did not sign nor should you

Balboa Capital attempted to withdraw funds from our account through an unauthorized ACH requestWe are not a customer of Balboa and never have beenFortunately our bank flagged the transaction as potentially fraudulent and we were able to stop it before losing the money

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,
*** ***

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
Balboa seeks to enforce the terms of an agreement procured by fraud Balboa engaged in deceptive business practices and has violated several California laws, the California Civil Code, and the California Business and Professions Code By stating that Balboa will abide by the terms of a fraudulent agreement, Balboa is indicating that it condones doing business by: (1) intentionally luring customers with statements and representations, (2) refusing to perform pursuant to those representations, and then (3) attempting to extract additional money from their customers to ensure the original performance that was promised.Here, Balboa blatantly promised to enter into a lease-to-purchase agreement with a buy-out amount of $after we submitted monthly payments (with interest) We never agreed to a lease longer than months; we went into the agreement with the express intent to purchase the equipment for $after an 18-month term--no longer, no less Balboa confirmed these exact terms on multiple occasions When we attempted to purchase pursuant to the agreement, Balboa refused and now claims that the payoff amount is $37,even though we have paid about $25,with interest for a piece of equipment worth roughly $17, No reasonable person would agree to pay $25,000, then an additional $37,(for a total of $62,000) for a piece of equipment worth $17, That is $36,more than we bargained for Balboa should not be allowed to enforce such a fraudulent agreement, and the Revdex.com should not allow Balboa to retain its "Accredited" status in light of such thoroughly documented proof of its unfair business practices To date, Balboa has documented complaints on the Revdex.com site, roughly 20% of which allege the exact same fraudulent scheme as occurred here
Regards,
*** **

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
[I'm still working in resolving this with them, I happy to date that they have acted so fast- thanks to the Revdex.com
I hope to have this resolved today]
Regards,
*** *** ***

We have scheduled a meeting to discuss and resolve with the customer

DO NOT USE THIS LEASE COMPANYTHEY CHARGE YOU HIDDEN AND UNDISCLOSED FEESHere's a bit from an email exchange I just had with them
"Iwill find the invoice for your "pro rata" fees so UNCLEARLY disclosed in your contract and send it to you
Yes, I signed that I would pay $starting in May and you drafted $in March.??#
And why sign I would pay $if my payment is $1500- so you can charge me interest in taxes you NEVER disclosed to me
You all are pigs!"

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,
*** ***

We contacted Balboa Capital to get financing for two tractor for a total of $116,We worked with an agent *** White and he told us there would be no problem with this loan and to send him the neccessary documents, which we didHe called us back and told us that we got approved for the loan at a rate of 4.5% interest and would have quaterly payments of 7,969.00, which after doing the math everything added up*** White said we needed to put in a security deposit in the amount of one quarterly payment, to this we said no and told him we will look else where for a loan*** called us back a day later and told us that he will use the deposit that we put down against the first quarterly payment after they have made the fundingHe told us that after we gave the deposit down we would have of the quarterly payments left and next payment months later, we were very hesitant to go though with his offer but decided to go with the deal since we have worked with Baloa Capital

This is a wrongful misleading companyCrooks, unprofessional, bad vary bad serviceWas told on phone that we would pay quarters and be doneNow after years im still paying and found out that I still owe them money after taking thousands of my business moneyFinally they sent me my so called welcome packageThis is a bull crap!!! Please send out to others so they are aware of this misleading crooks

We have three contracts with this companyThe first two were signed in within days of each otherI signed another in This new contract was supposed to be $buyout as with the other two, that was not the contract I gotI ended up with a buyout lease at end of term, that based on what I am hearing is going to be brutalMy other major complaint with this new contract is the terms said that the payment was $994, when they started drawing the ACH payments, there was a $property tax added onDespite repeated requests for this tax bill that I am being charged, they refuse to provide the documentation, they just send me a pdf flyer that they have a right to take out taxesMy business is in Montana, theirs is in California, I have absolutely no clue which state is receiving this property taxI also found out that the other contracts I have that are dollar buyouts come with undisclosed fees, so that the deposit (which was two months rent) was not applied to the month term, the last payment for the first contract is 12/and I have contacted them repeatedly to make sure there wont be any surprise charges coming out of my account, as with the surprise $213/month charge, and they haven't gotten back with meOn top of it, when I started with this company, they said that my contracts would only be reported on my business report, unless they go in default, then they will be reported on my personal report, as is the case with all of my corporate loansThat is not the caseThey are reporting these contracts on my personal credit report as INDIVIDUAL account, instead of personal guarantee, which has affected the route I have to take for obtaining a personal mortgageI would not recommend this company, they are not upfront about anything they doI have worked with several leasing companies, have entered into and completed many lease agreements, and never once had the experience that I had with this company with undisclosed fees and shady practicesBy the time I am out of this last contract, my business will be out tens of thousands of dollars, and we will recover from it, but I will NEVER do business with them again.I still don't understand how a company can charge property tax without providing a tax bill, and having to wait two more years to get these guys off my personal report is irritating!!

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.Balboa seeks to enforce the terms of an agreement procured by fraud Balboa engaged in deceptive business practices and has violated several California laws, the California Civil Code, and the California Business and Professions Code By stating that Balboa will abide by the terms of a fraudulent agreement, Balboa is indicating that it condones doing business by: (1) intentionally luring customers with statements and representations, (2) refusing to perform pursuant to those representations, and then (3) attempting to extract additional money from their customers to ensure the original performance that was promisedHere, Balboa blatantly promised to enter into a lease-to-purchase agreement with a buy-out amount of $after we submitted monthly payments (with interest) We never agreed to a lease longer than months; we went into the agreement with the express intent to purchase the equipment for $after an 18-month term--no longer, no less Balboa confirmed these exact terms on multiple occasions When we attempted to purchase pursuant to the agreement, Balboa refused and now claims that the payoff amount is $37,even though we have paid about $25,with interest for a piece of equipment worth roughly $17, No reasonable person would agree to pay $25,000, then an additional $37,(for a total of $62,000) for a piece of equipment worth $17, That is $36,more than we bargained for
Balboa should not be allowed to enforce such a fraudulent agreement, and the Revdex.com should not allow Balboa to retain its "Accredited" status in light of such thoroughly documented proof of its unfair business practices To date, Balboa has documented complaints on the Revdex.com site, roughly 20% of which allege the exact same fraudulent scheme as occurred here
Regards,
*** **

We contacted Balboa about a lease/purchase agreement for technical equipment we wanted to purchase We were told that this would be a lease/purchase where at the end of the agreement we could buy the equipment for $ We have such agreements with them When the agreements were signed They were sent to our owner electronically for signing The electronic signing software grayed out all of the document making it impossible to read with the only visible area being the field for the electronic signatures or initials We contacted them in August, to request a payoff They responded in mid-September with a huge buyout amount (with no acknowledgement of our $initial deposit.) We called them and they stated this was just a lease and now we can buy the equipment or turn it back in We told them that is not what they told us and they pointed us to the paragraph in the agreement that spells out what happens when the agreement ends We have sent a certified letter (which was

We have reached out to the customer and resolved the inquiries