Geneva Capital, LLC

Allyson [redacted] is our insurance advisor at Geneva Capital Here is her response:Our insurance requirements have always been the same, they have never changed.We require BOTH General Liability and Personal Property coverageWe also require Geneva Capital to be listed on the policy in two ways – as BOTH an Additional Insured and a Loss Payee If we do not receive proper proof of insurance we have the right to place the customer on our insurance to ensure the equipment is properly covered at all timesAll of this is listed in the Master Lease AgreementThis customer received their leased equipment in May At that time we had received sufficient proof of coverage from State Farm The certificate of insurance expired October 12, We reached out to the insurance agent and obtained the certificate valid for the next months This certificate then expired October 12, We reached out to the insurance agent and only obtained partial information Penny (a Geneva Capital employee) requested the renewal from the agent (Mike, Clay & Jonathon) on both 10/as well as 10/ On 10/we received information but it was not listing Geneva Capital as a Loss Payee Penny requested the Loss Payee from the agent (Mike) on 10/ Penny had not received anything so on 10/Penny mailed the customer a letter indicating we did not have sufficient proof of insurance on file and they would be set up on our insurance if we did not receive the proof This letter gives a two week grace period before they are set up and invoiced on our insurance Two weeks went by so they were set up on our coverage On 11/Penny received yet more insurance information but it still did not include the Loss Payee Penny emailed the agent and the customer indicating what we received and what we were missing The customer responded very upset and indicated that we were not paying attention.Penny communicated via phone (to Elizabeth at the agency) and email (Mike) to the insurance agency on 11/going over all the requirements On 11/we received the complete and sufficient proof of coverage Allyson reached out to the customer via email and apologized for the inconvenience, but stressed that our requirements have never changed So something must have changed with the insurance policy on this last renewal We also made the exception at that time to remove the insurance premium from their invoice Here is the email I sent:From: Allyson [redacted] Sent: Monday, November 21, 10:AMTo: '***@ [redacted] .com' Cc: ' [redacted] ' < [redacted] >; Penny [redacted] Subject: Insurance - Geneva Capital - [redacted] S [redacted] #*** Good Morning ***, I hope you had a fantastic weekend I am sorry this insurance process has been frustrating to you The past two years we have received the renewal information (including all of the lease agreement requirements) from your agent in the format of a certificate Both years the certificate has included everything to meet the requirements I have attached them for you to review The documentation we received this year has been in a different format and has not included all of the required information Here is a summary of the process:• Your insurance certificate expired 10/12/2016• When we had not received anything, we emailed and requested the renewed and updated certificate from your agent on 10/17/16• We emailed them again on 10/25/asking for the same information• On the 27th we received partial information from your agent We responded via email to Mike and asked for the verification that Geneva Capital is still listed as a Loss Payee• On Oct 31st we did not have all the requested information so we sent you an insurance letter This letter indicated that we did NOT have all the pieces that we need for proof of insurance Per the terms of the lease agreement we set you up on our insurance to be sure it was adequately covered The letter also indicated that if we did not receive the sufficient proof of coverage we would invoice you for our insurance The letter is dated October 31st, with an expiration date of November 14th for you to be set up on our insurance I have attached a copy of this letter for your records.• On November 14th we had not received the requested insurance information so you were set up on our insurance• On November 15th we received the same information we had already received – which was still missing the Loss Payee Penny from my office emailed yet again And on the 16th as well She also called and spoke with your insurance agency to clarify what we needed The form you attached with the handwritten Loss Payee information – we will accept this You mention the change needs to be made So either we were never added as a Loss Payee and the certificates we have on file are inaccurate, or something changed with your renewal this past October So as of Thursday, November 17th we have your complete insurance information on file for the Oct 216-Oct policy term with State Farm and the Clay Gibson Agency Technically you are responsible for the premium that is invoiced out and due in December, as insurance is delayed in billing That premium is for the Mid Oct – mid Nov insurance coverage I have made an exception and removed that charge for you as a customer service courtesy I feel we went above and beyond in requesting the needed information Our requirements have NOT changed and will remain the same for the entire term of the lease Again, we removed the charge that is reflected on your invoice due December 12thPlease let me know if there are any questionsThanks, Allyson [redacted] Insurance Advisor Allyson [redacted] Insurance Advisor License No [redacted] Geneva Capital, LLC partnered with Pillar Insurance Services, LLC [redacted] *Alexandria, MN Phone ###-###-#### • Fax ###-###-#### [email protected] • www.gogc.com Refer to the attached pdf file for additional information

We leased gym equipment from Geneva because the Franchise told us it was a better option to taking out a small business loan. I spoke to Mike and thought it was a good choice because if the gym failed he said we could return the equipment and made us feel that it would be no problem but didn't tell us we would have to pay of the term of the lease its in the small print. Well we should have gotten the small business loan because the interest on Geneva's lease is too high and we paid 18K over almost 2 years and still owed most of the amount due. The problem is our business failed and we called Geneva and they offered us 5K for 49K worth of equipment and wanted us to pay the remaining balance. We decided to sell our equipment to get more but Mike pressured us to allow him to get us a better deal them offered before. We accepted the 15K buyer he found a they picked up the equipment and asked us to settle 23K. Right after I receive a letter and calls asking for 40K and now I'm being sued. They are not trust worthy I have the emails to prove the deal we had but the collector is saying once they received the equipment the deal fell thru.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this Nothing was explained to us at all Simply choose a payment date, so we did More up front explanation would go a long way

I am rejecting this response because: I am glad I will no longer be hearing from Amy ***However I still heard from her after I requested to not hear from her and will be filing complaints with the Federal Trade Commission as well as the Minnesota State's Attorney's office and as well as making a complaint against Amy ***/Geneva at the Ripoff reports siteFrom Mr ***'s response, "However, a call will be made to Ms*** explaining the situation and how it will be handled going forward as our guidelines are stated. If the lease becomes past due based on the guidelines Ms*** will still receive the attorney letters as required" it seems they still intend to remain heavy handed and threaten me with attorneys, even though I have efforts to catch up and timewise, as well as with fees when late fees are subtracted, am less than a month behindI don't like that they immediately began threatening me with attorneys and having this woman call me after I had been clear that I don't want to hear from her and have also been payingI asked her to not threaten me with attorneys and it seems she increase the threatsI asked to not hear from her again and she said I had a new portfolio manager (Farrah) who would be in touch with me at the end of last weekYet she sends another threatening letter, makes more calls and I have not heard from FarrahI have emails to prove all of this. Sincerely,*** ***

Allyson [redacted] is our insurance advisor at Geneva Capital.  Here is her response:Our insurance requirements have always been the same, they have never changed.We require BOTH General Liability and Personal Property coverage. We also require Geneva Capital to be listed on the policy in two ways...

– as BOTH an Additional Insured and a Loss Payee.  If we do not receive proper proof of insurance we have the right to place the customer on our insurance to ensure the equipment is properly covered at all times. All of this is listed in the Master Lease Agreement. This customer received their leased equipment in May 2015.  At that time we had received sufficient proof of coverage from State Farm.  The certificate of insurance expired October 12, 2015.  We reached out to the insurance agent and obtained the certificate valid for the next 12 months.  This certificate then expired October 12, 2016.  We reached out to the insurance agent and only obtained partial information.   Penny (a Geneva Capital employee) requested the renewal from the agent (Mike, Clay & Jonathon) on both 10/17 as well as 10/25.  On 10/27 we received information but it was not listing Geneva Capital as a Loss Payee.  Penny requested the Loss Payee from the agent (Mike) on 10/27.   Penny had not received anything so on 10/31 Penny mailed the customer a letter indicating we did not have sufficient proof of insurance on file and they would be set up on our insurance if we did not receive the proof.  This letter gives a two week grace period before they are set up and invoiced on our insurance.  Two weeks went by so they were set up on our coverage.  On 11/15 Penny received yet more insurance information but it still did not include the Loss Payee.  Penny emailed the agent and the customer indicating what we received and what we were missing.  The customer responded very upset and indicated that we were not paying attention.Penny communicated via phone (to Elizabeth at the agency) and email (Mike) to the insurance agency on 11/16 going over all the requirements.  On 11/21 we received the complete and sufficient proof of coverage.  Allyson reached out to the customer via email and apologized for the inconvenience, but stressed that our requirements have never changed.  So something must have changed with the insurance policy on this last renewal.  We also made the exception at that time to remove the insurance premium from their invoice.    Here is the email I sent:From: Allyson [redacted] Sent: Monday, November 21, 2016 10:18 AMTo: '[redacted].com' <[redacted].com>Cc: '[redacted]' <[redacted]>; Penny [redacted] <[email protected]>Subject: Insurance - Geneva Capital - [redacted] S [redacted] Good Morning [redacted], I hope you had a fantastic weekend.  I am sorry this insurance process has been frustrating to you.  The past two years we have received the renewal information (including all of the lease agreement requirements) from your agent in the format of a certificate.  Both years the certificate has included everything to meet the requirements.  I have attached them for you to review.   The documentation we received this year has been in a different format and has not included all of the required information.   Here is a summary of the process:•             Your insurance certificate expired 10/12/2016•             When we had not received anything, we emailed and requested the renewed and updated certificate from your agent on 10/17/16•             We emailed them again on 10/25/16 asking for the same information•             On the 27th we received partial information from your agent.  We responded via email to Mike and asked for the verification that Geneva Capital is still listed as a Loss Payee•             On Oct 31st we did not have all the requested information so we sent you an insurance letter.  This letter indicated that we did NOT have all the pieces that we need for proof of insurance.  Per the terms of the lease agreement we set you up on our insurance to be sure it was adequately covered.   The letter also indicated that if we did not receive the sufficient proof of coverage we would invoice you for our insurance.  The letter is dated October 31st, with an expiration date of November 14th for you to be set up on our insurance.  I have attached a copy of this letter for your records.•             On November 14th we had not received the requested insurance information so you were set up on our insurance. •             On November 15th we received the same information we had already received – which was still missing the Loss Payee.  Penny from my office emailed yet again.  And on the 16th as well.  She also called and spoke with your insurance agency to clarify what we needed.    The form you attached with the handwritten Loss Payee information – we will accept this.  You mention the change needs to be made.  So either we were never added as a Loss Payee and the certificates we have on file are inaccurate, or something changed with your renewal this past October.  So as of Thursday, November 17th we have your complete insurance information on file for the Oct 216-Oct 2017 policy term with State Farm and the Clay Gibson Agency.   Technically you are responsible for the premium that is invoiced out and due in December, as insurance is delayed in billing.  That premium is for the Mid Oct – mid Nov insurance coverage.  I have made an exception and removed that charge for you as a customer service courtesy.   I feel we went above and beyond in requesting the needed information.  Our requirements have NOT changed and will remain the same for the entire term of the lease.   Again, we removed the charge that is reflected on your invoice due December 12th. Please let me know if there are any questions. Thanks, Allyson [redacted]Insurance Advisor   Allyson [redacted]Insurance Advisor License No. [redacted] Geneva Capital, LLC partnered with Pillar Insurance Services, LLC[redacted]Alexandria, MN 56308 Phone ###-###-#### •  Fax ###-###-#### [email protected] • www.gogc.com Refer to the attached pdf file for additional information.

Summary: The Portfolio Service Representative will be changed and no further outgoing calls will be completed by Amy [redacted].  However, a call will be made to Ms. [redacted] explaining the situation and how it will be handled going forward as our guidelines are stated.   If the lease...

becomes past due based on the guidelines Ms. [redacted] will still receive the attorney letters as required. In addition, the lease contract that Ms. [redacted] signed outlines exactly how the late fees are implemented.  There are no additional late fee charges that are taking place other than what is outlined in the contract.See attachments for complete response.Doug [redacted], COO

We have received your letter regarding a complaint (ID #[redacted]) you received from one of our customers (#[redacted]).  We are quite familiar with this customer, and have been working to resolve this situation for over a year.  The complaint contains several inaccuracies.  We will...

address each point in our response, and provide a more complete picture of this transaction. 1)     This customer (our lessee) is actually [redacted].  This business name was not referenced in the complaint anywhere.  Our lease documents list the LLC as the customer, and the agreement was signed by [redacted] as the owner.  Mr. [redacted] is also not mentioned anywhere in the complaint. 2)     The cost of the original machine was $6,691.96 ($6,495 base price + $196.96 shipping).  This cost is indicated on page 1 of the Master Equipment Lease Agreement.  We purchased this equipment from the vendor ([redacted]’s) for this price in December 2014, in order to lease it to the customer under the terms of Lease #[redacted].  The cost was not “around $9,000” as the complaint states. 3)     Lease #[redacted] started on 12/20/14.  As stated in the complaint, the customer made an advance payment of 10% of the original equipment cost.  This amount was $669.20 (not mentioned in the complaint).  This was to be followed by 36 monthly payments of $212, starting on 1/20/15.  Upon completion of the lease term (1/20/18), the customer has the option to purchase the equipment for $669.20, return the equipment, or renew the lease. 4)     It should be emphasized that this is an equipment lease, not a loan.  The lease payments are due as scheduled.  However, if a customer wishes to pay off early, we will typically discount the remaining stream of minimum lease payments at a 5% discount rate.  This is covered in Paragraph 3 of the Master Equipment Lease Agreement. 5)     As mentioned in the complaint, the customer exchanged the equipment for a less-expensive model shortly after the lease started.  The base price of the new equipment was $3,650 (slightly more than the “around $3000” referenced in the complaint).  As the result of this exchange, the vendor ([redacted]’s) issued us a check for $2,845 ($6,495 base price of original equipment less $3,650 new equipment) in February 2015.  This refund has been sitting as an unapplied credit in our billing system since that time.  It has been factored into all lease payoff calculations, as discussed later. 6)     On 2/13/15, we attempted to set up a new lease (#[redacted]2) to replace the original.  This used a new “equipment cost” of $4,050.50, which reflected our basis in the existing lease (#[redacted]) at that time.  Lease #[redacted]2 would have required 35 monthly payments of $146.44.  At the end of this lease term, the customer could purchase the equipment for $405.05 (10% of original equipment cost).  Customer refused to sign this new agreement.  Instead, they continued to make the original payments of $212 each month. 7)     On 10/5/15, we attempted to set up a new lease (#[redacted]2) for a second time.  This used a new “equipment cost” of $2,770.08, which reflected an updated basis in the existing lease (#[redacted]).  This new agreement would have required 27 monthly payments of $118.72, with the option to purchase the equipment at the end of the term for $277.  Customer refused to sign this agreement as well, but continued to make the original payments of $212 each month. 8)     The complaint states that “there was never a new contract that stated the new machine along with the payment from the previous machine that was never used”.  This statement is inaccurate.  We made two attempts to rewrite the lease (see Points #6 & #7).  Customer also states that the monthly payment “is supposed to be $114.76 monthly”.  It is not clear where this amount came from.  As stated in Point #6 & #7, we quoted amounts of $146.44 and $118.72, not $114.76. 9)     The complaint mentions “taxes” on a two occasions.  This needs to be put in context.  We will sometimes alter the terms of an existing lease by merely using an addendum.  However, when a lease starts in one year, and the equipment is changed in a subsequent year, we need to re-do the lease, since we have already started depreciating the original equipment for income tax purposes.  In these situations, we terminate the original lease and replace it with a new lease (#[redacted]2), as we attempted to do here.  Someone from our office probably mentioned this as the reason why we had to write a new lease and get new signatures. 10)  After the second attempt to rewrite the lease failed, customer requested a payoff.  This is the point where I first became involved with this situation.  Using our normal payoff calculation (see Point #4), this amount would have been $3,059.58, good thru 11/20/15.  However, in an attempt to get this resolved, we reduced this significantly -- to $1,996.33.  This payoff quote was e-mailed to [redacted] on 11/4/15 by our sales rep (Adam [redacted]).  Mr. [redacted] replied on 11/11/15: “We understand.  We’ll use these numbers as our total balanced [sic] owed including the 10% payoff amount and continue our monthly payments until we get it down a little more, then we will give you a call after the holidays to pay it off completely. Thank you for your help with this matter!”  It is unclear whether Mr. [redacted] was considering any “interest” component to future payments, but at that time it appeared like the customer was satisfied and would be paying off within a few months.  Customer continued to make the original payments of $212 per month. 11)  In March 2016, customer again requested a payoff.  Using our normal payoff calculation, this amount would have been $2,290.51, good thru 3/20/16.  However, to be consistent with our November calculation, I reduced this to $983.44, good thru 3/11/16 (per customer’s request).  This calculation was e-mailed to the customer ([redacted]) on 3/9/16 by our VP of Portfolio Services (Janel [redacted]).  Customer did not send in the payoff at that time, so we sent another calculation of $987.46, good thru 3/20/16.  It was around this time that I first spoke with Ms. [redacted].  The call was transferred to me, since she was complaining that the amount was too high.  I explained that I had manually reduced this, and that if we used our normal payoff calculation the amount would be much higher.  I never said I would make their (monthly?) payments higher than they already are, as stated in the complaint.  I did say that we had attempted to structure a new lease with lower payments, but until that lease was signed, we had to continue to collect the lease payments as stated in the original agreement (#[redacted]).  Ms. [redacted] hung up on me at that time.  Customer did not exercise the payoff, but instead paid the $212 due 3/20/16. 12)  On 4/21/16, I spoke with [redacted] (call was transferred to me).  He wanted to make his payment by phone, since it was due the day before, but he also wanted to know what the payoff would be.  I said I would have to calculate this, knowing that we would need to manually reduce our normal amount to be consistent with previous calculations.  I e-mailed him later that day with the amount: $787.91, good thru 4/22/16.  Furthermore, I indicated that if he chose not to exercise this payoff, but merely made his 4/20/16 payment of $212, then the updated payoff would be $583.31, good thru 5/20/16.  Customer did not pay off the lease, but did make the monthly payment of $212.  So the payoff amount now stands at $583.31. The complaint implies that we are not being flexible.  As explained above, we have attempted to restructure the lease twice.  Moreover, we have provided payoff calculations at reduced amounts on multiple occasions.  The customer has simply chosen to not pay off the lease.  We have an executed lease agreement in place (#[redacted]).  The customer cannot unilaterally determine what they think they should be paying. In a final attempt to resolve this matter, I will propose the following: pay $365 to purchase the equipment by 5/20/16.  This amount represents 10% of the equipment cost of the new equipment (excluding shipping).  This amount is also lower than the my quoted payoff amount of $583.31 (see Point #12), which was reduced to begin with.  It is also not much higher than the scheduled monthly payment of $212, so it should not pose any financial difficulty.  We can formally send this payoff quote to the customer, but we wanted to specifically reply to the Revdex.com notification first.

See attached response