TimePayment Corp. has had the opportunity to review your account and payment history with our company in regard to Lease Agreement No. [redacted]. We would first like to apologize for any negative experience that you may have had, and clarify any misunderstandings. We understand that you are claiming...
that a TimePayment representative led you to believe, after submitting all of the requisite 48 monthly payments in regard to your Lease Agreement, that you could continue submitting regular monthly payments to be applied toward the Fair Market Value balance of the equipment (a total of $1,865.80).On May 12, 2015, TimePayment mailed you a letter outlining your end of lease term options. That letter stated: “This letter is to inform you that there are two months remaining on the initial term of your agreement. In accordance with the terms of your agreement, you have the following options at the end of the initial agreement term: (1) you can promptly return the equipment, in good condition, except for ordinary wear and tear, to us by the end of the initial term of the contract (20-Jul-2015) or (2) you can extend the agreement under the terms and conditions stated in the agreement on a month-to-month basis until such time as you give written notice that you elect to terminate the agreement at least 30 days prior to such termination and you return the equipment to us or (3) you can purchase the equipment for the fair market value as quoted by us at the time of termination plus any applicable taxes.” While TimePayment’s Standard Operating Procedure and the terms of our Commercial Equipment Lease Agreement do not allow payment plans (or monthly installments) to be applied toward the Fair Market Value of equipment, we understand that a miscommunication may have occurred. It is not TimePayment’s goal to ever be misleading, or dishonest, as we value our customer relationships. As such, we will contact you directly, via email, to discuss a settlement offer.Thank you for the opportunity to review this matter, and we hope that you find our offer satisfactory.
TimePayment has had the opportunity to review your account, and we would like to address your concerns. Our records reflect that you called our Customer Service Department on January 25th and submitted your final payment, by phone. We apologize for the delay in closing the account, and we are...
currently investigating what may have caused this discrepancy. Your account is in the process of being closed – we apologize for the inconvenience. Please disregard any mail that you have received which might indicate a balance due on the account. The account has been paid-in-full as of January 25th, and is being reported as such to the credit reporting agencies. There are no further payments due on the account. We hope that this response has satisfactorily addressed your complaint. Please do not hesitate to contact our Customer Support Manager, [redacted], at extension [redacted], or at [redacted] with any further questions.
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. Please add your rejection comments below. When I follow the instructions to go to "Invoice history" and click on a specific invoice it simply shows "monthly payment" and "amount" (screen capture attached). I need a proper invoice that shows dates, company header, payments received, number of remaining payments, standard invoice info etc.
Regards,
[redacted]
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. Please add your rejection comments below.
The issue at hand is that it was never explained that we were in an "only" lease agreement. We were told we were in an ownership agreement. I would like to receive the recorded phone call to confirm one such exists. There was never disclosure about the amount being added to the cost of the equipment. When we contacted [redacted] we were informed that we would be buying this equipment not leasing it. These "terms" are just a way of getting people to agree to something they do not understand. Also you reported that the fee calculated was based on our credit history. Please provide how you calculate that. There has to a way you calculate what to charge people and that should be fully disclosed. I have entered into a lease agreement before and ALL terms were always disclosed.
Regards,
[redacted]
TimePayment Corp. has had the opportunity to review your complaint, and we have located Non-Cancelable Commercial Equipment Lease Agreement No. [redacted] for [redacted] D/B/A [redacted], which we believe to be the Lease Agreement that you are referencing. In your complaint, you have...
stated that you were not satisfied with the commercial Nelson Ice Cream Push Cart that you received in correlation with the Lease Agreement, but that the vendor refused to accept a return on the equipment. You are arguing that you never accepted the equipment, and that the Lease Agreement should be considered null and void.Please be advised that TimePayment Corp. and the equipment vendor, Keyword Farm LLC D/B/A Turnkey Parlor, are two completely separate companies – we do not share employees, profits or anything else. TimePayment’s only role in this transaction was that of a finance lessor (as it is described under UCC Article 2A), extending credit to you and your business in the form of a Lease after receiving and approving your credit application. Prior to paying Turnkey Parlor for the equipment that is listed on the Lease Agreement, we conducted a recorded pre-funding verification telephone call with you on June 29, 2015. It was during that telephone call that you confirmed that you had read and understood the terms of the Lease Agreement that you signed. It wasn’t until the successful completion of that telephone call that TimePayment Corp. paid Turnkey Parlor and instructed them to deliver the equipment. While we understand that you are claiming to have not accepted the equipment, we do have (on file) a form confirming acceptance of delivery of the equipment – signed you on July 8, 2015. I have attached a copy of that form for your review. As stated in your complaint, the Non-Cancelable Commercial Equipment Lease Agreement that you signed as Lessee and Personal Guarantor, states on page 2, section 3 (“Delivery and Acceptance”): “The Equipment shall be shipped directly to me by the Vendor. Upon delivery of the equipment to me, I shall be deemed to have irrevocably accepted the Equipment, the Equipment shall be deemed to be in good working order and condition, and I shall be satisfied that the Equipment delivered includes all of the items specified in this Lease…”Our records indicate that you called and emailed our Customer Service Department on July 9th and 21st to express your dissatisfaction with the equipment that you had chosen. At no time during either of those correspondences did you mention any issues with the equipment, other than it being too heavy. It wasn’t until a telephone call on August 4th that you mentioned a faulty wheel. You further stated that the equipment vendor had offered to fix the issue with the wheel, but that you refused to allow that as you just wanted to return the equipment because of its weight.It is TimePayment’s position that you signed a Non-Cancelable Commercial Equipment Lease Agreement on June 25, 2015 for a base monthly amount of $156.46 for a term of 21 months. You further acknowledged and accepted the terms of the Lease that you signed by completing our recorded pre-funding verification telephone call on June 29th. TimePayment relied on your representations and paid Turnkey Parlor in-full for the equipment. You then accepted delivery of the equipment on July 8, 2015, at which time you irrevocably accepted the equipment and the terms of the Lease Agreement. Your obligations under the Lease Agreement remain in effect. If you have shipped the equipment back to the vendor, TimePayment urges you to contact them immediately to regain possession as TimePayment is the rightful owner of the equipment. Should you have any questions related to the terms of your Lease Agreement, billing or payments, please do not hesitate to contact our Customer Service Department at our toll-free number.
We sincerely apologize for the equipment issues that you’ve experienced. Unfortunately, TimePayment, as just the finance lessor, is not able to assist with any equipment-related issues. As stated in our previous responses, and in the Lease Agreement, any failure of the equipment is no basis for non-fulfillment of your obligations under the Lease. If you are not able to get in contact with [redacted], the vendor’s representative named in your most recent correspondence, then TimePayment suggests that you contact another vendor in your area who is able to assist with this type of equipment servicing. We apologize that we cannot be of further assistance with the equipment servicing and functionality issues.
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. .
[I fully understand this was an equipment lease. However, the equipment stopped working and was unusable. The rep was contacted numerous times with no response. I was left with no choice but to purchase equipment from another vendor and store the useless equipment in a safe place. It is still in storage. I wish to return the equipment and stop being billed for equipment that has not been in use since February 2016.]
Regards,
[redacted]
TimePayment Corp. has received your Revdex.com complaint, and we have had the opportunity to review your account. We would like to take this opportunity to address your concerns, and clarify some of the terms of the contract that you signed. First, please be advised that TimePayment Corp. does not offer...
loans, or charge “interest”. The contract that you have entered into with us is a Commercial Equipment Lease Agreement, and not a loan agreement. TimePayment is an equipment leasing company (as is more thoroughly described under UCC Article 2A), and not a bank. TimePayment’s only role in this transaction was to purchase equipment of your choosing, from an independent equipment vendor, [redacted] (“[redacted]”), to lease back to you for a mutually-agreed-upon monthly amount. Our records indicate that you signed a Non-Cancelable Commercial Equipment Lease Agreement (“Lease”) on April 28, 2015 on behalf of [redacted] d/b/a [redacted]. You also signed as a Personal Guarantor. Pursuant to the terms of the Lease, you agreed to pay $168.90 (plus taxes and fees) for a term of 48 months. Upon receiving the executed Delivery and Acceptance Form, which confirmed that you had received and were satisfied with the equipment, TimePayment paid [redacted] for the equipment and commenced the Lease on May 22, 2015. I have attached a copy of the Lease, for your review. To date, TimePayment has received 5 of the requisite 48 monthly lease payments due on this account. The current monthly lease payment of $197.90, multiplied by the remaining 43 monthly payments, totals $8,509.70. This amount does not include any late fees or collections costs that may be added to the account. To address your concerns related to credit reporting, please refer to section 3 of the Lease (“Credit Inquiries and Credit Reporting”). TimePayment has an obligation to report honestly and accurately to the credit bureaus, regarding your payment history with our company. Any negative credit reporting associated with this account is reflective of the account’s standing on the dates reported. We hope that this response has clarified any confusion. Please do not hesitate to contact our Customer Service Department at our toll-free number with any further questions related to your account.
TimePayment Corp. would like to, again, clarify the terms of the Lease Agreement that you signed, as well as correct our previous statement regarding your current Lease Buyout. First, to correct our previous statement - the current buyout is $2,766.26, not the previously-provided figure. We apologize for any confusion, as the previous figure was provided in error. Because your payment of $3,002.50 was received on November 4th, both your November and December invoices have been paid using those funds. While we understand that you do not want any funds to be showing as “unapplied” on your account, there are no open invoices on your account to apply those funds to at this time. For this reason, the $2,380.82, which is currently showing as “unapplied”, will continue to reduce with each monthly invoice that generates. We would like to reiterate that there are no “interest” fees associated with your Agreement. To clarify, you agreed to pay a base amount of $310.84 for a term of 36 months. In accordance with the terms of the Agreement, all 36 payments of $310.84 are owed, regardless of whether the payments are received early (in lump-sum) or in monthly installments. There are no penalties for paying the Lease Buyout early. Our records indicate that you spoke with a representative from our Customer Service Department today, regarding your account. We hope that we have been of service in clarifying any confusion relating to the Agreement. Please do not hesitate to contact us at our toll-free number with any further questions or concerns.
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. .They lied about the lease. It was supposed to be a loan and when I questioned why it said lease I was reassured that at the end it would be mine. The payment just made was under false pretenses because the representative told me it was for maintenance and I needed it. Besides that this lease states 10% of fair market value. How do they come up with 611? To buy it new right now the cost is $3790.00.... Ten percent of that is 379.00. This unit was bought used is is at lease 5 years old. This company is a rip off. They have their representatives lie to customers and take their money under false pretenses. Please see attached pictures and the lease (which I was told was not a lease). And explain to me where they are coming up with 611. My 125.72 which was taking falsely need to be credited back!
Regards,
[redacted]
We understand that you are claiming that you did not sign the Lease Agreement, and that someone else used your personal information and signed your name to the Lease. Please complete and return the Forgery Questionnaire so that we can formally investigate this claim.
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. The following company came in [redacted] their representative was [redacted]. Time payment uses touch smart in Florida to sell their contracts. [redacted] came in and promised and Guaranteed that there will be no lease. Gave a few papers to initial and sign. Paperwork was for background checks and to verify the business.I have also Told [redacted] that I do not know how to read in English and I have difficulty understanding English.[redacted] promised that there will be no contract lease agreements of any kind and left. 2 weeks later an installer came from I believe [redacted]. To install the equipment and asked me to confirm that I accept a 48 month lease for $50.00 per month. I have declined the lease on the phone with the installer’s supervisor.The equipment was then taken back and the installer took it with him.Right after Time payment started billing me.I have called [redacted]and the company has closed my account with [redacted] has said that [redacted] is in possession of the equipment and is very helpful with assisting me.My Friend is helping me with this letter and case.
Regards,
[redacted]
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted].
Dr. [redacted] is responsible for me being in [redacted] behavioral hospital when the lathe was delivered making me unable to inspect it. It is her responsibility to pay for any contractual damages. She did it because I don't know how powerful she is so she arranged for me "to be brought to a psych Hospital and tortured every time I need health care". A powerful woman like that should have no problem paying for $4,000 or $5,000.
Regards,
[redacted]
TimePayment would like to apologize for any misunderstanding related to your Consumer Equipment Lease with us, and we would like to take this opportunity to better explain the terms of the contract. On January 4, 2016, you signed a Consumer Equipment Lease (“Lease”) with TimePayment, for...
the leasing of HVAC equipment. As part of the Lease, you also signed a document titled, “Step Payment Amendment”, which allowed you twelve (12) months from the date of Lease commencement (which was January 8, 2016) to pay the full equipment cost buyout of $8,500.00. As stated in the Step Payment Amendment, if $8,500.00 was not received by the 12-month deadline (January 7, 2017), then you would be responsible for the full 69-month lease term (a total of $19,910.19). A copy of the Lease (complete with Step Payment Amendment document) is attached, for your review. Records reflect that the full equipment cost buyout was not received by the January 7, 2017 deadline, and still has not been received to date (July 12th). We apologize if the terms of the Lease were not fully understood at the time of signing – however, it is TimePayment’s position that the terms are clearly stated within the pages of the contract. Since the full equipment cost was not received by the stated deadline, you are responsible for paying the Agreement’s original term. Currently, the amount still owed under the terms of the Lease is $15,085.93. Please do not hesitate to contact us with any further questions or concerns related to your Lease.
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted].
We understand your stance on this issue, but do want to also let you know that we have contacted all companies involved. You, Time Payment, [redacted], and [redacted]. We have left countless messages on any possible phone numbers we have as well as any that were given to us by all involved. We are tired of asking for help when no one will assist. We tried to work with all involved and have done all that you all have suggested. [redacted], like you, cannot help, but at least they made an attempt to assist. We have no other options, unless you can give us someone that you already work with thT can fix our system. That is all we have been asking. Do also note that we have contacted other alarm companies in our area, but they will not touch our system because it is not their equipment. They want to replace your equipment. Since we are LOCKED into a contract with you, this causes us more issues. What is your suggestion now? We are at the lawyer point, our next and apparently only option.
Regards,
[redacted]
TimePayment has had the opportunity to review your accounts, and we would like to take this opportunity to address your concerns. Our records indicate that you have two (2) Consumer Equipment Leases with TimePayment, for the leasing of [redacted] Water Units – Accounts [redacted] & [redacted]....
Notes indicate that you called TimePayment on December 6, 2017, and submitted your buyout payment of $882.75 to close account [redacted]. Account [redacted] has 1 monthly payment remaining on its requisite 21-month Lease Term, as well as the additional three (3) monthly payments due in order for you to own the equipment (a total of 4 remaining monthly payments). While it is true that your obligations as outlined in Lease [redacted] have not yet been fulfilled, TimePayment acknowledges that there may have been a miscommunication during your telephone call with a representative on December 6, 2017. As such, we will agree to close Account [redacted] for payments already received. We apologize for any inconvenience, and hope that this matter has been resolved to your satisfaction.
TimePayment Corp.’s Legal Department is in receipt of your complaint, and your requests for additional documentation pertaining to your account. We would like to take this opportunity to address your concerns and provide relevant documents. As an initial matter, we would like to better...
explain our role in this transaction, as the leasing company. TimePayment Corp. is a finance lessor, as is more thoroughly described under UCC 2A. Our only role in this transaction was to purchase equipment of your choosing from the equipment vendor of your choosing, in order to lease that equipment back to you for a mutually-agreed-upon monthly amount. On November 2, 2011, you signed the TimePayment Non-Cancelable Commercial Equipment Lease Agreement (“Agreement”) for 60 months, at a base monthly amount of $503.32, via an independent broker company (Beneficial Capital Leasing), instructing TimePayment to purchase equipment on your behalf from the independent vendor company ([redacted].). You signed the Agreement as a “Member”, on behalf of the Lessee ([redacted]), and also as a Personal Guarantor. Our records reflect that you were dissatisfied with the equipment at the time of receipt, in November of 2011. Subsequently, TimePayment stopped the lease commencement process and you worked directly with the broker and vendor companies to resolve any issues. You did not have an active account with TimePayment at the time that you assert the equipment was malfunctioning. TimePayment did not commence the Agreement until December 27, 2011, after you and an individual named [redacted] confirmed via a recorded verification telephone call that you were satisfied with the equipment, that you understood the terms that you had signed-for and that you were ready to move forward with the Agreement. TimePayment did not commence the Agreement, nor request any payments, until December 27, 2011 - after you had confirmed that you were satisfied and ready to move forward. Any issues that existed between your company, the broker company and/or the vendor company prior to the commencement of the Agreement are outside the scope of the Agreement and have nothing to do with TimePayment Corp. With regard to your complaint relating to equipment repairs – we urge you to review sections 11 (“Disclaimer of Warranties”) and 12 (“Equipment Servicing”) of the Agreement. In essence, TimePayment is not responsible for equipment servicing or repairs as we are only the financer of the equipment. Any services or repairs are the responsibility of the Lessee ([redacted]) and must be completed by a company qualified to perform such maintenance. Warranties must be discussed with the equipment manufacturer directly. While there is no official document which displays the Fair Market Value of the equipment, TimePayment’s method of calculating the figure is outlined in section 5 (“End of Lease Term”) of the Agreement. Pursuant to section 5, the Fair Market Value amount will not exceed 10% of the aggregate lease payments. Your aggregate lease payments total $30,199.20 – making the Fair Market Value of the equipment $3,019.92. When the equipment was returned to TimePayment in April of 2015, some components were missing. Unfortunately, the amount of money that TimePayment’s Asset Department was able to net from the resale of the equipment was significantly less than the Fair Market Value of the equipment. For this reason, no credit was posted to your account (please refer to section 8, “Default B”). You have further asserted that, in September of 2013, a TimePayment representative intentionally lied to representatives of your company ([redacted]) and informed them that you had requested for the equipment to be picked-up. Our records indicate that our Asset Department erroneously contacted a representative of [redacted] named [redacted] in September of 2013 to discuss her alleged request for the equipment to be picked-up. [redacted] clarified that she had not made such a request, and the matter was not pursued any further at that time. As stated in your complaint, TimePayment’s Lessee Relations Manager, [redacted], sent an email (at your request) apologizing for any confusion. Pursuant to section 3 (“Credit Inquiries and Credit Reporting”) of the Agreement, TimePayment is authorized to provide payment history information to the credit bureaus. In compliance with the Fair Credit Reporting Act, 15 U.S.C. § 1681 (“FCRA”), we are obligated to report honestly and accurately to the credit bureaus regarding our credit experience with you. It is TimePayment’s position that any negative payment history that is reflected on your credit reports is the result of late or missed payments, and cannot be removed. Per your request, I have attached copies of all monthly billing statements which have generated in connection with your account. As you are aware, billing statements do not generate for any months during which your account was setup on automatic payments. After your account fell more than 1 year past-due, the balance was automatically accelerated and statements stopped generating. This Account’s current monthly lease payment of $503.32, multiplied by the remaining 25 payments, totals $12,583.00. This amount does not include the late fees, billing statement fees, collection fees, and bounce fees (if applicable), which have been applied to this Account since it entered into default. For a more detailed summary of collection costs and fees, please refer to section 6 (“Late Payments and Collection Costs”). For your records, I have also attached copies of the account’s cash receipt and invoicing histories. We sincerely hope that our response has appropriately addressed your concerns. For assistance accessing your account online, please call our Lessee Relations Department at our toll-free number.
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. Please add your rejection comments below. Regards,
[redacted] Actually [redacted] took the money from my account. Because there was a error on the first application [redacted]. We did another application [redacted] that was not processed. Husband gave a new card number and the account was not processed. We are tired of going back and forth about this issue. He did what was asked of Time Payment. And all they are doing is giving excuses. And keep re-doing accounts, that don't get processed.
TimePayment is not implying that you did not provide a down-payment or deposit to the equipment vendor, [redacted] [redacted]. As previously explained, TimePayment and [redacted] [redacted] are two completely separate companies – we do not share employees, profits, offices or anything else. TimePayment would have no knowledge of any transactions which may have taken place between yourself and the vendor, and any such transactions have no bearing on your obligation to TimePayment. We understand that you are claiming that you did not agree to lease the equipment – however, our position remains that all terms are clearly and accurately outlined within the pages of the Lease Agreement that you signed (copy attached to our initial response). If you are claiming that your signature on the Lease Agreement is forged, then we can send you a Forgery Questionnaire to complete and return to us, so that our Legal Resolutions Department can conduct a thorough investigation into the matter. Please clarify, if this is what you are claiming. Our records indicate that you sent an inquiry via our online portal on May 25th, requesting to know why taxes were being applied to the account. A representative responded, requesting a copy of your tax exemption certificate. You then spoke with a TimePayment representative on May26th, regarding your buyout. The representative provided a payment breakdown by phone, and the call ended without dispute. Currently 43 monthly payments remain on the account. The terms cannot be altered, as the contract has already commenced. We sincerely apologize that we cannot be of further assistance in the matter. Please contact our Customer Service Department at our toll-free telephone number with any further questions or concerns related to the account.
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. Please add your rejection comments below. I think you leave yourself open to criticism by not knowing who monitors, etc. Be advised that my next step will be lawsuit in small claims court, which will increase your cost by ca. $125.00 (filling fee).
Regards,
[redacted]
TimePayment Corp. has had the opportunity to review your account and payment history with our company in regard to Lease Agreement No. [redacted]. We would first like to apologize for any negative experience that you may have had, and clarify any misunderstandings. We understand that you are claiming...
that a TimePayment representative led you to believe, after submitting all of the requisite 48 monthly payments in regard to your Lease Agreement, that you could continue submitting regular monthly payments to be applied toward the Fair Market Value balance of the equipment (a total of $1,865.80).On May 12, 2015, TimePayment mailed you a letter outlining your end of lease term options. That letter stated: “This letter is to inform you that there are two months remaining on the initial term of your agreement. In accordance with the terms of your agreement, you have the following options at the end of the initial agreement term: (1) you can promptly return the equipment, in good condition, except for ordinary wear and tear, to us by the end of the initial term of the contract (20-Jul-2015) or (2) you can extend the agreement under the terms and conditions stated in the agreement on a month-to-month basis until such time as you give written notice that you elect to terminate the agreement at least 30 days prior to such termination and you return the equipment to us or (3) you can purchase the equipment for the fair market value as quoted by us at the time of termination plus any applicable taxes.” While TimePayment’s Standard Operating Procedure and the terms of our Commercial Equipment Lease Agreement do not allow payment plans (or monthly installments) to be applied toward the Fair Market Value of equipment, we understand that a miscommunication may have occurred. It is not TimePayment’s goal to ever be misleading, or dishonest, as we value our customer relationships. As such, we will contact you directly, via email, to discuss a settlement offer.Thank you for the opportunity to review this matter, and we hope that you find our offer satisfactory.
TimePayment has had the opportunity to review your account, and we would like to address your concerns. Our records reflect that you called our Customer Service Department on January 25th and submitted your final payment, by phone. We apologize for the delay in closing the account, and we are...
currently investigating what may have caused this discrepancy. Your account is in the process of being closed – we apologize for the inconvenience. Please disregard any mail that you have received which might indicate a balance due on the account. The account has been paid-in-full as of January 25th, and is being reported as such to the credit reporting agencies. There are no further payments due on the account. We hope that this response has satisfactorily addressed your complaint. Please do not hesitate to contact our Customer Support Manager, [redacted], at extension [redacted], or at [redacted] with any further questions.
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. Please add your rejection comments below. When I follow the instructions to go to "Invoice history" and click on a specific invoice it simply shows "monthly payment" and "amount" (screen capture attached). I need a proper invoice that shows dates, company header, payments received, number of remaining payments, standard invoice info etc.
Regards,
[redacted]
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. Please add your rejection comments below.
The issue at hand is that it was never explained that we were in an "only" lease agreement. We were told we were in an ownership agreement. I would like to receive the recorded phone call to confirm one such exists. There was never disclosure about the amount being added to the cost of the equipment. When we contacted [redacted] we were informed that we would be buying this equipment not leasing it. These "terms" are just a way of getting people to agree to something they do not understand. Also you reported that the fee calculated was based on our credit history. Please provide how you calculate that. There has to a way you calculate what to charge people and that should be fully disclosed. I have entered into a lease agreement before and ALL terms were always disclosed.
Regards,
[redacted]
TimePayment Corp. has had the opportunity to review your complaint, and we have located Non-Cancelable Commercial Equipment Lease Agreement No. [redacted] for [redacted] D/B/A [redacted], which we believe to be the Lease Agreement that you are referencing. In your complaint, you have...
stated that you were not satisfied with the commercial Nelson Ice Cream Push Cart that you received in correlation with the Lease Agreement, but that the vendor refused to accept a return on the equipment. You are arguing that you never accepted the equipment, and that the Lease Agreement should be considered null and void.Please be advised that TimePayment Corp. and the equipment vendor, Keyword Farm LLC D/B/A Turnkey Parlor, are two completely separate companies – we do not share employees, profits or anything else. TimePayment’s only role in this transaction was that of a finance lessor (as it is described under UCC Article 2A), extending credit to you and your business in the form of a Lease after receiving and approving your credit application. Prior to paying Turnkey Parlor for the equipment that is listed on the Lease Agreement, we conducted a recorded pre-funding verification telephone call with you on June 29, 2015. It was during that telephone call that you confirmed that you had read and understood the terms of the Lease Agreement that you signed. It wasn’t until the successful completion of that telephone call that TimePayment Corp. paid Turnkey Parlor and instructed them to deliver the equipment. While we understand that you are claiming to have not accepted the equipment, we do have (on file) a form confirming acceptance of delivery of the equipment – signed you on July 8, 2015. I have attached a copy of that form for your review. As stated in your complaint, the Non-Cancelable Commercial Equipment Lease Agreement that you signed as Lessee and Personal Guarantor, states on page 2, section 3 (“Delivery and Acceptance”): “The Equipment shall be shipped directly to me by the Vendor. Upon delivery of the equipment to me, I shall be deemed to have irrevocably accepted the Equipment, the Equipment shall be deemed to be in good working order and condition, and I shall be satisfied that the Equipment delivered includes all of the items specified in this Lease…”Our records indicate that you called and emailed our Customer Service Department on July 9th and 21st to express your dissatisfaction with the equipment that you had chosen. At no time during either of those correspondences did you mention any issues with the equipment, other than it being too heavy. It wasn’t until a telephone call on August 4th that you mentioned a faulty wheel. You further stated that the equipment vendor had offered to fix the issue with the wheel, but that you refused to allow that as you just wanted to return the equipment because of its weight.It is TimePayment’s position that you signed a Non-Cancelable Commercial Equipment Lease Agreement on June 25, 2015 for a base monthly amount of $156.46 for a term of 21 months. You further acknowledged and accepted the terms of the Lease that you signed by completing our recorded pre-funding verification telephone call on June 29th. TimePayment relied on your representations and paid Turnkey Parlor in-full for the equipment. You then accepted delivery of the equipment on July 8, 2015, at which time you irrevocably accepted the equipment and the terms of the Lease Agreement. Your obligations under the Lease Agreement remain in effect. If you have shipped the equipment back to the vendor, TimePayment urges you to contact them immediately to regain possession as TimePayment is the rightful owner of the equipment. Should you have any questions related to the terms of your Lease Agreement, billing or payments, please do not hesitate to contact our Customer Service Department at our toll-free number.
We sincerely apologize for the equipment issues that you’ve experienced. Unfortunately, TimePayment, as just the finance lessor, is not able to assist with any equipment-related issues. As stated in our previous responses, and in the Lease Agreement, any failure of the equipment is no basis for non-fulfillment of your obligations under the Lease. If you are not able to get in contact with [redacted], the vendor’s representative named in your most recent correspondence, then TimePayment suggests that you contact another vendor in your area who is able to assist with this type of equipment servicing. We apologize that we cannot be of further assistance with the equipment servicing and functionality issues.
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. .
[I fully understand this was an equipment lease. However, the equipment stopped working and was unusable. The rep was contacted numerous times with no response. I was left with no choice but to purchase equipment from another vendor and store the useless equipment in a safe place. It is still in storage. I wish to return the equipment and stop being billed for equipment that has not been in use since February 2016.]
Regards,
[redacted]
TimePayment Corp. has received your Revdex.com complaint, and we have had the opportunity to review your account. We would like to take this opportunity to address your concerns, and clarify some of the terms of the contract that you signed. First, please be advised that TimePayment Corp. does not offer...
loans, or charge “interest”. The contract that you have entered into with us is a Commercial Equipment Lease Agreement, and not a loan agreement. TimePayment is an equipment leasing company (as is more thoroughly described under UCC Article 2A), and not a bank. TimePayment’s only role in this transaction was to purchase equipment of your choosing, from an independent equipment vendor, [redacted] (“[redacted]”), to lease back to you for a mutually-agreed-upon monthly amount. Our records indicate that you signed a Non-Cancelable Commercial Equipment Lease Agreement (“Lease”) on April 28, 2015 on behalf of [redacted] d/b/a [redacted]. You also signed as a Personal Guarantor. Pursuant to the terms of the Lease, you agreed to pay $168.90 (plus taxes and fees) for a term of 48 months. Upon receiving the executed Delivery and Acceptance Form, which confirmed that you had received and were satisfied with the equipment, TimePayment paid [redacted] for the equipment and commenced the Lease on May 22, 2015. I have attached a copy of the Lease, for your review. To date, TimePayment has received 5 of the requisite 48 monthly lease payments due on this account. The current monthly lease payment of $197.90, multiplied by the remaining 43 monthly payments, totals $8,509.70. This amount does not include any late fees or collections costs that may be added to the account. To address your concerns related to credit reporting, please refer to section 3 of the Lease (“Credit Inquiries and Credit Reporting”). TimePayment has an obligation to report honestly and accurately to the credit bureaus, regarding your payment history with our company. Any negative credit reporting associated with this account is reflective of the account’s standing on the dates reported. We hope that this response has clarified any confusion. Please do not hesitate to contact our Customer Service Department at our toll-free number with any further questions related to your account.
TimePayment Corp. would like to, again, clarify the terms of the Lease Agreement that you signed, as well as correct our previous statement regarding your current Lease Buyout. First, to correct our previous statement - the current buyout is $2,766.26, not the previously-provided figure. We apologize for any confusion, as the previous figure was provided in error. Because your payment of $3,002.50 was received on November 4th, both your November and December invoices have been paid using those funds. While we understand that you do not want any funds to be showing as “unapplied” on your account, there are no open invoices on your account to apply those funds to at this time. For this reason, the $2,380.82, which is currently showing as “unapplied”, will continue to reduce with each monthly invoice that generates. We would like to reiterate that there are no “interest” fees associated with your Agreement. To clarify, you agreed to pay a base amount of $310.84 for a term of 36 months. In accordance with the terms of the Agreement, all 36 payments of $310.84 are owed, regardless of whether the payments are received early (in lump-sum) or in monthly installments. There are no penalties for paying the Lease Buyout early. Our records indicate that you spoke with a representative from our Customer Service Department today, regarding your account. We hope that we have been of service in clarifying any confusion relating to the Agreement. Please do not hesitate to contact us at our toll-free number with any further questions or concerns.
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. .They lied about the lease. It was supposed to be a loan and when I questioned why it said lease I was reassured that at the end it would be mine. The payment just made was under false pretenses because the representative told me it was for maintenance and I needed it. Besides that this lease states 10% of fair market value. How do they come up with 611? To buy it new right now the cost is $3790.00.... Ten percent of that is 379.00. This unit was bought used is is at lease 5 years old. This company is a rip off. They have their representatives lie to customers and take their money under false pretenses. Please see attached pictures and the lease (which I was told was not a lease). And explain to me where they are coming up with 611. My 125.72 which was taking falsely need to be credited back!
Regards,
[redacted]
We understand that you are claiming that you did not sign the Lease Agreement, and that someone else used your personal information and signed your name to the Lease. Please complete and return the Forgery Questionnaire so that we can formally investigate this claim.
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. The following company came in [redacted] their representative was [redacted]. Time payment uses touch smart in Florida to sell their contracts. [redacted] came in and promised and Guaranteed that there will be no lease. Gave a few papers to initial and sign. Paperwork was for background checks and to verify the business.I have also Told [redacted] that I do not know how to read in English and I have difficulty understanding English.[redacted] promised that there will be no contract lease agreements of any kind and left. 2 weeks later an installer came from I believe [redacted]. To install the equipment and asked me to confirm that I accept a 48 month lease for $50.00 per month. I have declined the lease on the phone with the installer’s supervisor.The equipment was then taken back and the installer took it with him.Right after Time payment started billing me.I have called [redacted]and the company has closed my account with [redacted] has said that [redacted] is in possession of the equipment and is very helpful with assisting me.My Friend is helping me with this letter and case.
Regards,
[redacted]
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted].
Dr. [redacted] is responsible for me being in [redacted] behavioral hospital when the lathe was delivered making me unable to inspect it. It is her responsibility to pay for any contractual damages. She did it because I don't know how powerful she is so she arranged for me "to be brought to a psych Hospital and tortured every time I need health care". A powerful woman like that should have no problem paying for $4,000 or $5,000.
Regards,
[redacted]
TimePayment would like to apologize for any misunderstanding related to your Consumer Equipment Lease with us, and we would like to take this opportunity to better explain the terms of the contract. On January 4, 2016, you signed a Consumer Equipment Lease (“Lease”) with TimePayment, for...
the leasing of HVAC equipment. As part of the Lease, you also signed a document titled, “Step Payment Amendment”, which allowed you twelve (12) months from the date of Lease commencement (which was January 8, 2016) to pay the full equipment cost buyout of $8,500.00. As stated in the Step Payment Amendment, if $8,500.00 was not received by the 12-month deadline (January 7, 2017), then you would be responsible for the full 69-month lease term (a total of $19,910.19). A copy of the Lease (complete with Step Payment Amendment document) is attached, for your review. Records reflect that the full equipment cost buyout was not received by the January 7, 2017 deadline, and still has not been received to date (July 12th). We apologize if the terms of the Lease were not fully understood at the time of signing – however, it is TimePayment’s position that the terms are clearly stated within the pages of the contract. Since the full equipment cost was not received by the stated deadline, you are responsible for paying the Agreement’s original term. Currently, the amount still owed under the terms of the Lease is $15,085.93. Please do not hesitate to contact us with any further questions or concerns related to your Lease.
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted].
We understand your stance on this issue, but do want to also let you know that we have contacted all companies involved. You, Time Payment, [redacted], and [redacted]. We have left countless messages on any possible phone numbers we have as well as any that were given to us by all involved. We are tired of asking for help when no one will assist. We tried to work with all involved and have done all that you all have suggested. [redacted], like you, cannot help, but at least they made an attempt to assist. We have no other options, unless you can give us someone that you already work with thT can fix our system. That is all we have been asking. Do also note that we have contacted other alarm companies in our area, but they will not touch our system because it is not their equipment. They want to replace your equipment. Since we are LOCKED into a contract with you, this causes us more issues. What is your suggestion now? We are at the lawyer point, our next and apparently only option.
Regards,
[redacted]
TimePayment has had the opportunity to review your accounts, and we would like to take this opportunity to address your concerns. Our records indicate that you have two (2) Consumer Equipment Leases with TimePayment, for the leasing of [redacted] Water Units – Accounts [redacted] & [redacted]....
Notes indicate that you called TimePayment on December 6, 2017, and submitted your buyout payment of $882.75 to close account [redacted]. Account [redacted] has 1 monthly payment remaining on its requisite 21-month Lease Term, as well as the additional three (3) monthly payments due in order for you to own the equipment (a total of 4 remaining monthly payments). While it is true that your obligations as outlined in Lease [redacted] have not yet been fulfilled, TimePayment acknowledges that there may have been a miscommunication during your telephone call with a representative on December 6, 2017. As such, we will agree to close Account [redacted] for payments already received. We apologize for any inconvenience, and hope that this matter has been resolved to your satisfaction.
TimePayment Corp.’s Legal Department is in receipt of your complaint, and your requests for additional documentation pertaining to your account. We would like to take this opportunity to address your concerns and provide relevant documents. As an initial matter, we would like to better...
explain our role in this transaction, as the leasing company. TimePayment Corp. is a finance lessor, as is more thoroughly described under UCC 2A. Our only role in this transaction was to purchase equipment of your choosing from the equipment vendor of your choosing, in order to lease that equipment back to you for a mutually-agreed-upon monthly amount. On November 2, 2011, you signed the TimePayment Non-Cancelable Commercial Equipment Lease Agreement (“Agreement”) for 60 months, at a base monthly amount of $503.32, via an independent broker company (Beneficial Capital Leasing), instructing TimePayment to purchase equipment on your behalf from the independent vendor company ([redacted].). You signed the Agreement as a “Member”, on behalf of the Lessee ([redacted]), and also as a Personal Guarantor. Our records reflect that you were dissatisfied with the equipment at the time of receipt, in November of 2011. Subsequently, TimePayment stopped the lease commencement process and you worked directly with the broker and vendor companies to resolve any issues. You did not have an active account with TimePayment at the time that you assert the equipment was malfunctioning. TimePayment did not commence the Agreement until December 27, 2011, after you and an individual named [redacted] confirmed via a recorded verification telephone call that you were satisfied with the equipment, that you understood the terms that you had signed-for and that you were ready to move forward with the Agreement. TimePayment did not commence the Agreement, nor request any payments, until December 27, 2011 - after you had confirmed that you were satisfied and ready to move forward. Any issues that existed between your company, the broker company and/or the vendor company prior to the commencement of the Agreement are outside the scope of the Agreement and have nothing to do with TimePayment Corp. With regard to your complaint relating to equipment repairs – we urge you to review sections 11 (“Disclaimer of Warranties”) and 12 (“Equipment Servicing”) of the Agreement. In essence, TimePayment is not responsible for equipment servicing or repairs as we are only the financer of the equipment. Any services or repairs are the responsibility of the Lessee ([redacted]) and must be completed by a company qualified to perform such maintenance. Warranties must be discussed with the equipment manufacturer directly. While there is no official document which displays the Fair Market Value of the equipment, TimePayment’s method of calculating the figure is outlined in section 5 (“End of Lease Term”) of the Agreement. Pursuant to section 5, the Fair Market Value amount will not exceed 10% of the aggregate lease payments. Your aggregate lease payments total $30,199.20 – making the Fair Market Value of the equipment $3,019.92. When the equipment was returned to TimePayment in April of 2015, some components were missing. Unfortunately, the amount of money that TimePayment’s Asset Department was able to net from the resale of the equipment was significantly less than the Fair Market Value of the equipment. For this reason, no credit was posted to your account (please refer to section 8, “Default B”). You have further asserted that, in September of 2013, a TimePayment representative intentionally lied to representatives of your company ([redacted]) and informed them that you had requested for the equipment to be picked-up. Our records indicate that our Asset Department erroneously contacted a representative of [redacted] named [redacted] in September of 2013 to discuss her alleged request for the equipment to be picked-up. [redacted] clarified that she had not made such a request, and the matter was not pursued any further at that time. As stated in your complaint, TimePayment’s Lessee Relations Manager, [redacted], sent an email (at your request) apologizing for any confusion. Pursuant to section 3 (“Credit Inquiries and Credit Reporting”) of the Agreement, TimePayment is authorized to provide payment history information to the credit bureaus. In compliance with the Fair Credit Reporting Act, 15 U.S.C. § 1681 (“FCRA”), we are obligated to report honestly and accurately to the credit bureaus regarding our credit experience with you. It is TimePayment’s position that any negative payment history that is reflected on your credit reports is the result of late or missed payments, and cannot be removed. Per your request, I have attached copies of all monthly billing statements which have generated in connection with your account. As you are aware, billing statements do not generate for any months during which your account was setup on automatic payments. After your account fell more than 1 year past-due, the balance was automatically accelerated and statements stopped generating. This Account’s current monthly lease payment of $503.32, multiplied by the remaining 25 payments, totals $12,583.00. This amount does not include the late fees, billing statement fees, collection fees, and bounce fees (if applicable), which have been applied to this Account since it entered into default. For a more detailed summary of collection costs and fees, please refer to section 6 (“Late Payments and Collection Costs”). For your records, I have also attached copies of the account’s cash receipt and invoicing histories. We sincerely hope that our response has appropriately addressed your concerns. For assistance accessing your account online, please call our Lessee Relations Department at our toll-free number.
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. Please add your rejection comments below. Regards,
[redacted] Actually [redacted] took the money from my account. Because there was a error on the first application [redacted]. We did another application [redacted] that was not processed. Husband gave a new card number and the account was not processed. We are tired of going back and forth about this issue. He did what was asked of Time Payment. And all they are doing is giving excuses. And keep re-doing accounts, that don't get processed.
TimePayment is not implying that you did not provide a down-payment or deposit to the equipment vendor, [redacted] [redacted]. As previously explained, TimePayment and [redacted] [redacted] are two completely separate companies – we do not share employees, profits, offices or anything else. TimePayment would have no knowledge of any transactions which may have taken place between yourself and the vendor, and any such transactions have no bearing on your obligation to TimePayment. We understand that you are claiming that you did not agree to lease the equipment – however, our position remains that all terms are clearly and accurately outlined within the pages of the Lease Agreement that you signed (copy attached to our initial response). If you are claiming that your signature on the Lease Agreement is forged, then we can send you a Forgery Questionnaire to complete and return to us, so that our Legal Resolutions Department can conduct a thorough investigation into the matter. Please clarify, if this is what you are claiming. Our records indicate that you sent an inquiry via our online portal on May 25th, requesting to know why taxes were being applied to the account. A representative responded, requesting a copy of your tax exemption certificate. You then spoke with a TimePayment representative on May26th, regarding your buyout. The representative provided a payment breakdown by phone, and the call ended without dispute. Currently 43 monthly payments remain on the account. The terms cannot be altered, as the contract has already commenced. We sincerely apologize that we cannot be of further assistance in the matter. Please contact our Customer Service Department at our toll-free telephone number with any further questions or concerns related to the account.
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. Please add your rejection comments below. I think you leave yourself open to criticism by not knowing who monitors, etc. Be advised that my next step will be lawsuit in small claims court, which will increase your cost by ca. $125.00 (filling fee).
Regards,
[redacted]