Financial Pacific Leasing

• A payment history will be mailed to you immediatelyPayment histories were sent to your attorney [redacted] on November 17th, he confirmed receipt of the payment histories and said was going to reconcile them with Mr [redacted] ’s bank statements • In reviewing your account, you have a day grace periodAll of the payments you have made on this lease have been received after your grace period • Collection calls are made on all accounts when the payment goes past due • In regards to the attorney call, we received a call from your attorney after we turned the account over to our third party field agent Bell & WilliamsWe called attorney [redacted] at 9:am on February 6, and was advised that his client was filing bankruptcy that day and to follow up at the end of the week to get a case numberOn February 10, we called the attorney to get the case number and was told that he is not a bankruptcy attorney and that he was hired to try and help his client “get back on track”Mr [redacted] requested that we contact him going forward instead of Mr [redacted] • Finance charges: I would be happy to have an amortization schedule sent to you • There are no insurance charges on this account.We hope this response adequately addresses all of your concerns and thank you for your continuing relationship

Revdex.com: We have received requested documents from creditor via email Late fees of $149.35, 10% of loan and $per each phone call initiated by creditor, total $ Therefore, late fees and phone calls total owed amount of $Delinquent payment negotiated and paid at this time Creditor advised that online payments would be accepted at this time In other words, access to make online payments would be accepted I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to me Sincerely, [redacted]

Financial Pacific Leasing, Inc(FP) is a commercial equipment leasing company that accepts third party originated (TPO) transactions It appears that one of the TPO’s we do business with submitted to us for credit consideration a transaction for this Customer in January of Once the approval was received by the TPO, they would have worked with the customer regarding the terms of the contract, and the Customer would have had the opportunity to review any required documents prior to their signature Although we can certainly understand the Customer’s concerns regarding the amount to pay off the contract, the Customer has an Equipment Finance Agreement not a loan, which is an important distinction With an Equipment Finance Agreement, although the Customer is the owner of the equipment, it is not structured like a traditional loan It is structured like a lease, in that it is for a set term at a set payment amount and is non-cancelable for that term The front page of the agreement confirms the non-cancelable provision under the Customer’s signatory line In the event that a customer chooses to pay off the contract early, they are doing so based on the remaining term and balance of payments still owed, minus a small discount It is not like a traditional loan where you are simply dealing with the principal balance remaining If there was confusion when discussing payoffs with the TPO and the resulting belief was that it would only be for the principal amount, it is unfortunately not something substantiated within the document itself We are happy to assist the Customer with resolution of this issue We would certainly be willing to discuss settlement options with them, but unfortunately are unable to honor the amount offered in the complaint The amount offered, along with the payments already made, does not cover the initial cost of the equipment, nor take into consideration the year that has passed since funds were released to the vendor The Customer is welcome to contact Customer Service Department and we would be happy to work with them to reach a resolution

In response to the Revdex.com Complaint ID # [redacted] filed by [redacted] Re: [redacted] Financial Pacific Leasing financed carpet cleaning equipment for [redacted] and the lease commenced on March 15, The personal guarantors on the lease are [redacted] and [redacted] and the agreement called for monthly rental payments in the amount of $ for monthsThe customers defaulted on their agreement due to nonpayment and subsequently the agreement was sold to [redacted] Financial, LLC on November 14, I am working to ensure the credit report accurately reflects that Financial Pacific Leasing is owed a zero balance and the lease account debt was sold Mr [redacted] can contact Adam B [redacted] at [redacted] Financial, LLC at [redacted] ext[redacted] in regards to the current debt owed

Financial Pacific Leasing, Inc(FP) is a commercial equipment leasing company that accepts third party originated (TPO) transactions It appears that one of the TPO’s we do business with submitted to us for credit consideration a transaction for this customer in April of Financial Pacific Leasing did not solicit this transaction, nor were we the original secured party on the documents This particular transaction was documented by the TPO and then assigned to FP Although we can certainly understand the Customer’s frustration, this Customer has an Equipment Finance Agreement not a loan, which is an important distinction With an Equipment Finance Agreement, although the Customer is the owner of the equipment, it is not structured like a traditional loan It is structured like a lease, in that it is for a set term at a set payment amount and is non-cancelable for that term In the event that a customer chooses to pay off the contract early, they are doing so based on the remaining term and balance of payments still owed, minus a small discount It is not like a traditional loan where you are simply dealing with the principal balance remaining We are happy to assist the Customer with resolution of this issue, but it appears that they may not be working with current information We do not show contact from this Customer for payoff information since July of At that time they’d paid less than half of what is stated in their complaint We do show an acceleration letter sent in April of 2015, though, which may be what the Customer is referring to That letter was for the full balance of payments remaining, due to lack of response from the Customer regarding an outstanding payment An actual payoff would be lower, as it incorporates the small discount mentioned above We discussed settlement options with the Customer in December of 2013, but nothing was received to move forward If the Customer would like to revisit the idea of a settlement, we would be happy to assist them They are welcome to contact our Customer Service Department for further assistance

In response: As a course of business Financial Pacific Leasing will call customers that are past their grace period in making their monthly installment paymentsA collection call was made on August 31st for the August 15th paymentAccording to the notes, the customer (Mrs [redacted] ) was upset that the collector asked them to put a stop payment on the check and do a payment over the phoneThe customer stated they didn't have the funds to put a stop payment on the check and proceeded to put Mr [redacted] on the phone who starting yelling at the collector and then hung up It wasn't until a call was transferred to one of our supervisors (Carol) that the reason for the return call was that the customer felt that the collector was rude in speaking to herThe supervisor apologized to the customer and explained that there was no need to put a stop payment on the check and that as a courtesy, waived the late charge that has assessed on the account Financial Pacific Leasing prides ourselves on giving excellent customer serviceThe collector who placed the call had only been with the company for a few short weeksShe has been educated now on how we do our business and that our customers are our number one priority Sincerely, Rennee [redacted] W [redacted] VP Portfolio Services

Financial Pacific Leasing financed a Galyean Trailer with a lease agreement that commenced onJanuary 1, The terms of the agreement called for monthly rental paymentsin the amount of $for monthsThe terms are clearly stated on thelease agreement (page 1). Terms are
determined by credit industry parameters which include bureau scores,time in business etc.Financial Pacific Leasing does offer early term discounts when a customer opts to pay the lease in full early.Rates range from 2% to 5% depending on remaining paymentsIn regards to insurance: The lease agreement states that customers must provide proof of insurance on allequipment associated with the leaseFinancial Pacific Leasing is always willing to negotiate a settlement if our lessee would like to make anoffer in writingWe would also be willing to addend the lease to bring theaccount to a current status

Financial Pacific Leasing in certainly willing to work with the Customer to find an amicable resolution. The Customer is welcome to contact our Customer Service Department and ask Customer Service to walk them through the settlement process. They can reach Customer Service by either dialing 800-447-and following the prompts, or by e-mailing [email protected]

Complaint: ***I am rejecting this response because:
For a settlement please tell me how much you think you need I am willing to try to come to some kind of agreement They 37K that I was told on the phone is not acceptable
Sincerely,*** ***

Complaint: ***
I am rejecting this response because:Dear Sir or Madame,this letter is just in another word wraped , same shady contract , 140% interest , loan $pay-off,$!
Sincerely,
*** ***

Complaint: ***
I am rejecting this response because:It is garbage
Sincerely,
*** ***

Complaint: ***
I am rejecting this response because: Creditor did not outline total late fee amount nor phone call charges. Interestingly, per the attached one page contract does not indicate late fees nor phone call charges. Per the attached addendum does outline monthly payments of $from June 15, and ending May 15, Why are the additional fees not included within the terms of contract? I would like a complete copy of the terms of contract including interest rate. We continue to request a copy of full contract. We would like a reply with regard to late fees that are omitted in the attached addendum to contract for months listed: January, March, April, and May. Why are the late fees and phone charges omitted within the addendum? Furthermore, we will need all pages of contract sent to us for our records. Please forward us a copy of full contract terms. In addition, I am requesting a precise itemization of late fees and phone charges. Ultimately, this request is to obtain total late fee amount and phone fees. I look forward to a response. Sincerely,
*** ***

Tell us why here...The customer contacted us on May 31, 2017, requesting payment assistance for their May 15th payment. They stated that they were having technical difficulties with the equipment and had experienced a significant number of repair bills. At the time they made their
request, there were outstanding late fees due for January, March, April and May of 2017. The late fee in May being larger due to the fact that both April and May payments being due at the time it was assessed. Per paragraph of their agreement, their late fee will be 10% of the total payment, or $10, whichever is greater, and that their payment is due on or before their due date. We were able to do a contract adjustment, accommodating the customer’s request to move the May contract payment. That adjustment addressed the past due contract payment only, and the addendum confirmed that all other terms and conditions of the agreement remain in full force and effect. No arrangements were made regarding the outstanding late fees, leaving them due and payable. The amount the customer is currently questioning is the total of the late charges that have remained unpaid since the addendum for March, April and May, as well as late charges that have assessed since the addendum, for June, July and August. The $fee the customer references is a collection call fee. This item is also addressed in paragraph of their agreement, which states that if a delinquency requires additional collection efforts, a charge will be assessed. We’re sorry the customer is not currently able to make a payment on the website. Unfortunately, the website will not allow the customer to make a payment for less than what is owed. Until such time as there is resolution on the late fees, they will be unable to make a payment utilizing the website. They are welcome to make a payment over the phone for $10, or to mail their payment to the address on their invoice, which would help them avoid that fee. We would certainly be willing to work with the customer regarding the outstanding late feesThey are welcome to contact our Customer Service department to discuss further. In the interim, the payoff, a payoff breakdown, and a payment history have been forwarded to the customer, per their request. Also included was a copy of their contract documents and the addendum they signed to move their May payment

This letter is in response to your complaint made to the Revdex.com on September 22, We appreciate the opportunity to address our customers’ concerns and thank you for bringing this to our attentionIn your complaint, you expressed frustration with Currency Capital and one of our
courtesy collectorsSpecifically, you stated that Currency Capitol told you that there was a startup program for new customers that stated that after thirty (30) payments, you could pay $and your lease would be paid in fullIn addition, you stated that our courtesy collector was rude when you told her to pick up the machine
To address your specific concerns:
Financial Pacific Leasing, Inc(FP) is a Commercial Equipment Leasing Company that accepts third party originated (TPO) transactionsCurrency Capital is a third party and does not act as an agent for Financial Pacific LeasingFinancial Pacific Leasing bought a stream of payments of $from Currency CapitalFinancial Pacific Leasing was completely unaware of any verbal contract you may have had with Currency CapitalFinancial Pacific Leasing does not have any documentation other than the contract you signed for a month term
On 9/21/one of our courtesy collectors called you as payment had not been received within your grace periodHer notes document that you were unhappy with the terms of the contractShe offered to send you a copy of the contract for reviewYou indicated we should pick up the equipment as you would not be making additional payments
Financial Pacific Leasing appreciates that you have brought your concerns about Currency Capitol to our attentionHowever, your desired resolution to have Financial Pacific Leasing repossess the equipment and nullifying the contract is not an option
I would be more than willing to speak with you in person or over the phone to come to an amicable resolution regarding payment options that will work for both partiesContact Rennee W*** V.P Portfolio Services at 1-800-372-
If you have any remaining questions or concerns, please do not hesitate to give me a call
Sincerely,
Rennee CW***
VP Portfolio Services
Financial Pacific Leasing LLC
1-800-372-

This s written confirmation that not only did we forward the Customer the documents they requested 10/03, but we are also resending the requested information. The original set was mailed to the A/R address we have on file, and the second set will be e-mailed this morning to the address provided in the complaint Please feel free to contact with any additional questions or concerns Have a great day *** ** ***, CLFP

Complaint: ***I am rejecting this response because:
Until a satisfactory settlement is agreed upon, I am going to reject all basic replies
Sincerely,*** ***

• A payment history will be mailed to you immediately. Payment histories were sent to your attorney [redacted] on November 17th, he confirmed receipt of the payment histories and said was going to reconcile them with Mr. [redacted]’s bank statements.
• In reviewing your account, you have a 5 day...

grace period. All of the payments you have made on this lease have been received after your grace period.
• Collection calls are made on all accounts when the payment goes past due.
• In regards to the attorney call, we received a call from your attorney after we turned the account over to our third party field agent Bell & Williams. We called attorney [redacted] at 9:33 am on February 6, 2017 and was advised that his client was filing bankruptcy that day and to follow up at the end of the week to get a case number. On February 10, 2017 we called the attorney to get the case number and was told that he is not a bankruptcy attorney and that he was hired to try and help his client “get back on track”. Mr. [redacted] requested that we contact him going forward instead of Mr. [redacted].
• Finance charges: I would be happy to have an amortization schedule sent to you.
• There are no insurance charges on this account.We hope this response adequately addresses all of your concerns and thank you for your continuing relationship.

Financial Pacific Leasing, Inc. (FP) is a commercial equipment leasing company that accepts third party originated (TPO) transactions.  It appears that one of the TPO’s we do business with submitted to us for credit consideration a transaction for this Customer in January of 2015.  Once...

the approval was received by the TPO, they would have worked with the customer regarding the terms of the contract, and the Customer would have had the opportunity to review any required documents prior to their signature.
Although we can certainly understand the Customer’s concerns regarding the amount to pay off the contract, the Customer has an Equipment Finance Agreement not a loan, which is an important distinction.  With an Equipment Finance Agreement, although the Customer is the owner of the equipment, it is not structured like a traditional loan.  It is structured like a lease, in that it is for a set term at a set payment amount and is non-cancelable for that term.  The front page of the agreement confirms the non-cancelable provision under the Customer’s signatory line.  In the event that a customer chooses to pay off the contract early, they are doing so based on the remaining term and balance of payments still owed, minus a small discount.  It is not like a traditional loan where you are simply dealing with the principal balance remaining.  If there was confusion when discussing payoffs with the TPO and the resulting belief was that it would only be for the principal amount, it is unfortunately not something substantiated within the document itself. 
We are happy to assist the Customer with resolution of this issue.  We would certainly be willing to discuss settlement options with them, but unfortunately are unable to honor the amount offered in the complaint.  The amount offered, along with the 12 payments already made, does not cover the initial cost of the equipment, nor take into consideration the year that has passed since funds were released to the vendor.  The Customer is welcome to contact Customer Service Department and we would be happy to work with them to reach a resolution.

Financial Pacific Leasing, Inc. (FP) is a commercial equipment leasing company that accepts third party originated (TPO) transactions.  It appears that one of the TPO’s we do business with submitted to us for credit consideration a transaction for this customer in April of 2013. ...

Financial Pacific Leasing did not solicit this transaction, nor were we the original secured party on the documents.  This particular transaction was documented by the TPO and then assigned to FP. 
 
Although we can certainly understand the Customer’s frustration, this Customer has an Equipment Finance Agreement not a loan, which is an important distinction.  With an Equipment Finance Agreement, although the Customer is the owner of the equipment, it is not structured like a traditional loan.  It is structured like a lease, in that it is for a set term at a set payment amount and is non-cancelable for that term.  In the event that a customer chooses to pay off the contract early, they are doing so based on the remaining term and balance of payments still owed, minus a small discount.  It is not like a traditional loan where you are simply dealing with the principal balance remaining. 
 
We are happy to assist the Customer with resolution of this issue, but it appears that they may not be working with current information.  We do not show contact from this Customer for payoff information since July of 2014.  At that time they’d paid less than half of what is stated in their complaint.   We do show an acceleration letter sent in April of 2015, though, which may be what the Customer is referring to.  That letter was for the full balance of payments remaining, due to lack of response from the Customer regarding an outstanding payment.  An actual payoff would be lower, as it incorporates the small discount mentioned above. 
 
We discussed settlement options with the Customer in December of 2013, but nothing was received to move forward.  If the Customer would like to revisit the idea of a settlement, we would be happy to assist them.  They are welcome to contact our Customer Service Department for further assistance.

In response:
As a normal course of business Financial Pacific Leasing will call customers that are past their grace period in making their monthly installment payments. A collection call was made on August 31st for the August 15th payment. According to the notes, the customer...

(Mrs. [redacted]) was upset that the collector asked them to put a stop payment on the check and do a payment over the phone. The customer stated they didn't have the funds to put a stop payment on the check and proceeded to put Mr. [redacted] on the phone who starting yelling at the collector and then hung up.
It wasn't until a call was transferred to one of our supervisors (Carol) that the reason for the return call was that the customer felt that the collector was rude in speaking to her. The supervisor apologized to the customer and explained that there was no need to put a stop payment on the check and that as a courtesy, waived the late charge that has assessed on the account.
Financial Pacific Leasing prides ourselves on giving excellent customer service. The collector who placed the call had only been with the company for a few short weeks. She has been educated now on how we do our business and that our customers are our number one priority.
 
Sincerely,
Rennee ** W[redacted]
VP Portfolio Services.