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H I L Financial Reviews (8)

Complaint: [redacted] I am rejecting this response because:HIL Financial only wants to talk about what they have supposedly done for [redacted] The bottom line is still the fact that [redacted] is not the one who backed out of the EFAHow can HIL Financial keep the $2,deposit/advanced payment for trailers owned by [redacted] that evidently [redacted] did not want to relinquish control overThe Leesee is not the one who terminated the agreement for financing and per the contract entered into with Hil Financial the only way they can retain the origination deposit is if the Leesee decides to back outIt is in the language of their contractI also find it puzzling that Hil Financial will not return the $2,origination deposit/advanced payment, yet they tell [redacted] that they will use it as a credit for future potential loans, but the financing can never be worked out to the agreement of all parties now that Hil Financial holds [redacted] 's deposit hostageAfter conducting some research about Hil Financial it is evident that they practice predatory lending practices and I suppose the next step to take, after speaking with the Federal Trade Commission, is to file a report with the FTC for predatory lending practices and unethical business practicesThis is simply just another example of an American Finacial institution preying upon immigrants Sincerely, [redacted] ***

Complaint: [redacted] I am rejecting this response because: [redacted] disputes two parts of the response concerning the finance agreement with HIL FinancialFirst, it does state in the contract that HIL Financial can keep the entire origination deposit if "Leesee decides, for any reason, not to execute a definitive EFA."; however, [redacted] did not make the decision to not execute a definitive EFAThe company, [redacted] ***, that actually owned the trailers were never able to be contacted to agree to [redacted] acquiring those trailers and leasing them from HIL Financial [redacted] very much wanted to enter into an agreement to lease the equipment through HIL Financial, but circumstances out of [redacted] 's control did not allow it to happen [redacted] does not dispute HIL Financial keeping the Orgination Expense of $595.00, that should more than cover HIL Fiancial's costs incurred for this transactionAttached to this response is the agreement between [redacted] and HIL Financial Sincerely, [redacted] ***

To Whom It May Concern; the following customer [redacted] / [redacted] is a repeat customer for HIL Financial in which we have done deals prior with them before attempting to finance this last acquisition The customer back in June of asked for our company to help finance a trailer that they found from a private party / individual seller These types of transactions are much harder to complete and are more labor intensive, and most standard banks will not finance these types of requests However we were able to get the [redacted] / [redacted] customer approved, and had to work with the private party / individual seller of the equipment as well as the seller’s personal banker to get the final pay-off letter coordinated and ok to release this information to us so we could complete the transaction This went on for over a month with our credit department working diligently several times a day trying to obtain this information and ok from the seller and the bank, at the same time keeping the customer [redacted] / [redacted] aware of the situation When it came to pass that this transaction was not going to happen we notified the customer that we would have to keep these moneys as earned based on how much time and effort went in on this transaction coupled with our bank keeping the line of credit open for so long, as that costs us money too But we did offer them credit if they came back to us and needed help with financing in the future, which they did They came back us in August of with the request to finance Wabash Reefer trailers from a true Vendor which again we were able to get them approved, however this time again they did not move forwardNOTE, no moneys were asked for or received for work done on this approval They then came back to us in March of with the request for us to help them finance a trailer they had with one of their other company’s and finance it under a different company Unfortunately we could not approve this one as this would be considered an internally structured deal and our banks cannot finance requests like this We also have a signed proposal with copy of the check (SEE ATTACHED) that we have to collect for policy purposes on all transactions we do to protect not only the customer in regards to their approval and term, but also HIL Financial in case situations like this arise in which much work is done, and the transaction cannot be finalized Note, that before any proposal is sent out our bank will do work prior for our customers for free in essence until we are able to obtain an approval they agree with, it is at that time and that time only that a formal proposal is sent out, outlining the agreement and terms of the note as well as the clauses of going forward or not going forward with the financing Section of our standard proposal that was signed by this customer states: Lessee decides, for any reason, not to execute a definitive E.F.A., HIL Financial has the right to keep those moneys as earned The clause “for any reason” is the protection clause placed in their by our law firm to protect us of situations like this It is unfortunate the customer felt the need to go this route and complain to Revdex.com when HIL Financial went above and beyond the ability to help them with their finance requests, of which were approved and never went forward and the 3rd was a structured request I request that Revdex.com remove this complaint and see our service history with Revdex.com strong and that we are an honorable company that respects their clients

Complaint: [redacted]
I am rejecting this response because:
[redacted] disputes two parts of the response concerning the finance agreement with HIL Financial. First, it does state in the contract that HIL Financial can keep the entire origination deposit if "Leesee decides, for any reason, not to execute a definitive E. F. A."; however, [redacted] did not make the decision to not execute a definitive E. F. A. The company, [redacted], that actually owned the trailers were never able to be contacted to agree to [redacted] acquiring those trailers and leasing them from HIL Financial. [redacted] very much wanted to enter into an agreement to lease the equipment through HIL Financial, but circumstances out of [redacted]'s control did not allow it to happen. [redacted] does not dispute HIL Financial keeping the Orgination Expense of $595.00, that should more than cover HIL Fiancial's costs incurred for this transaction. Attached to this response is the agreement between [redacted] and HIL Financial.
Sincerely,
[redacted]

Complaint: [redacted]
I am rejecting this response because:HIL Financial only wants to talk about what they have supposedly done for [redacted]. The bottom line is still the fact that [redacted] is not the one who backed out of the E. F. A. How can HIL Financial keep the $2,030.00 deposit/advanced payment for trailers owned by [redacted] that evidently [redacted] did not want to relinquish control over. The Leesee is not the one who terminated the agreement for financing and per the contract entered into with Hil Financial the only way they can retain the origination deposit is if the Leesee decides to back out. It is in the language of their contract. I also find it puzzling that Hil Financial will not return the $2,030.00 origination deposit/advanced payment, yet they tell [redacted] that they will use it as a credit for future potential loans, but the financing can never be worked out to the agreement of all parties now that Hil Financial holds [redacted]'s deposit hostage. After conducting some research about Hil Financial it is evident that they practice predatory lending practices and I suppose the next step to take, after speaking with the Federal Trade Commission, is to file a report with the FTC for predatory lending practices and unethical business practices. This is simply just another example of an American Finacial institution preying upon immigrants.
Sincerely,
[redacted]

To Whom It May Concern; the following customer [redacted] / [redacted] is a repeat customer for HIL Financial in which we have done 4 deals prior with them before attempting to finance this last acquisition.  The customer back in June of 2016 asked for our company to help finance a trailer that they found...

from a private party / individual seller.  These types of transactions are much harder to complete and are more labor intensive, and most standard banks will not finance these types of requests.  However we were able to get the [redacted] / [redacted] customer approved, and had to work with the private party / individual seller of the equipment as well as the seller’s personal banker to get the final pay-off letter coordinated and ok to release this information to us so we could complete the transaction.  This went on for over a month with our credit department working diligently several times a day trying to obtain this information and ok from the seller and the bank, at the same time keeping the customer [redacted] / [redacted] aware of the situation.  When it came to pass that this transaction was not going to happen we notified the customer that we would have to keep these moneys as earned based on how much time and effort went in on this transaction coupled with our bank keeping the line of credit open for so long, as that costs us money too.  But we did offer them credit if they came back to us and needed help with financing in the future, which they did.  They came back us in August of 2016 with the request to finance 2 Wabash Reefer trailers from a true Vendor which again we were able to get them approved, however this time again they did not move forward. NOTE, no moneys were asked for or received for work done on this approval.  They then came back to us in March of 2017 with the request for us to help them finance a trailer they had with one of their other company’s and finance it under a different company.  Unfortunately we could not approve this one as this would be considered an internally structured deal and our banks cannot finance requests like this.
We also have a signed proposal with copy of the check (SEE ATTACHED) that we have to collect for policy purposes on all transactions we do to protect not only the customer in regards to their approval and term, but also HIL Financial in case situations like this arise in which much work is done, and the transaction cannot be finalized.  Note, that before any proposal is sent out our bank will do work prior for our customers for free in essence until we are able to obtain an approval they agree with, it is at that time and that time only that a formal proposal is sent out, outlining the agreement and terms of the note as well as the clauses of going forward or not going forward with the financing.  Section 2.2 of our standard proposal that was signed by this customer states: Lessee decides, for any reason, not to execute a definitive E.F.A., HIL Financial has the right to keep those moneys as earned.  The clause “for any reason” is the protection clause placed in their by our law firm to protect us of situations like this. 
It is unfortunate the customer felt the need to go this route and complain to Revdex.com when HIL Financial went above and beyond the ability to help them with their 3 finance requests, 2 of which were approved and never went forward and the 3rd was a structured request.  I request that Revdex.com remove this complaint and see our service history with Revdex.com strong and that we are an honorable company that respects their clients.

Again we have an issue with what the customer feels should have been done in their eyes only, and what the true facts are.  The lessee [redacted] brought the seller to HIL Financial to purchase the units, we did not bring the seller to them.  They asked us to continue to pursue this seller over the month plus that we worked on and held the approval open for this particular transaction.  After a certain period of time it was evident that the seller was not going to work with anyone, so we had to close the account.  This cost our bank money, many man hours were spent on this one transaction that did not happen, coupled with keeping our line of credit being kept open on with these funds not being used in a true finance note  Yet we still honored the ability to give them credit and worked for them again on another transaction spending more time and blocking out another chunk of funds for them not to move forward again per this 2nd approval as well.   And then they come back to us a 3rd time having us try to work on a 3rd transaction again with us not charging anything past what we already had to hold to cover costs per the 1st finance request, and could not get that one approved.  Yet man hours and time were spent again on their behalf working for them.  I am baffled at how they can feel working for them on so many deals and allocating this much time, can be justified by $595.00 
Simply because the seller that the customer [redacted] brings to us, backs out of a deal that THEY set up and thought was for real, does not mean work was not done per your request for you company, it was and time and effort and expense was spent on your behalf as well, 3 TIMES.  For future reference make sure you have a customer (seller of equipment) that truly wants to work for you like HIL Financial did for you.

Review: We have made a deposit and payments toward a product that was never delivered to our business. The company who we were trying to get the product from refunded the financial company but Hil Financial will not get back with us nor will they give us our refund for the item. Desired Settlement: We are wanting a refund in the full amount of the deposit as well as all the payments made.

Business

Response:

Initial Business Response /* (1000, 6, 2013/08/19) */

August 19, 2013

Revdex.com

Subject: Case # XXXXXXXX

This letter is in reply to the complaint for the transaction between [redacted] dba [redacted] and H.I.L. Financial (HIL). ** applied for equipment financing (Exhibit A) , signed a lease proposal (LP) and sent a non-refundable deposit to cover HIL's cost associated with putting the transaction together (Exhibit B), signed a non-cancelable and binding Equipment Finance Agreement (EFA) (Exhibit C) which included a request for Pre-Funding Acceptance Agreement and Authorization to Commence (Exhibit D) the EFA prior to equipment delivery. After the agreement was executed the funding department called [redacted] who requested them to advance funds to the vendor and directed them to commence her non-cancellable. After the funds were released and her EFA commenced ** backed out of the transaction because they decided to purchase a different unit from a different vendor and use a different finance company. Please see the attached fax sent to us from ** with a cover letter explaining they want a different unit and wanted us to compete with another lender and included the other credit application they filled out to us for different collateral than was original approved and funded (Exhibit E) under their fully commenced EFA.

H.I.L. Financial believes it has gone above and beyond in obtaining financing for [redacted] dba [redacted] and is shocked that a complaint has been made when considering the events of this transaction and the fact we DID send her initial payment to the funder. HIL sent the initial payments received by ** ($933.18) to the funder (advanced payments required per the EFA see page 1 of Exhibit C) . We were also successful in negotiating with the equipment vendor to refund the funding received in order to unwind this defaulted transaction so the bank would not go after and litigate [redacted] This was done in good faith in order to assist ** even though they backed out of their obligation at a great expense to HIL, the vendor and funder who all are taking a loss.

Please let us know if you need any additional information to dismiss this outrageous complaint.

Best regards,

H.I.L. Financial

[redacted]SUPPORTING DOCUMENTS REDACTED BY Revdex.com[redacted]

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Description: Leasing Service, Financial Services

Address: 5325 140th Ave NE, Bellevue, Washington, United States, 98005-1025

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