TimePayment Corp. is in receipt of your complaint, filed against our company in regard to Lease Agreement No. [redacted]. We would like to take this opportunity to more thoroughly explain the terms of the contract that you signed, as well as our role in this transaction.In your complaint, you have...
indicated that your son was employed as a sales representative with the equipment vendor company, [redacted] at the time that you signed the Lease Agreement. You are claiming that you intended to “purchase” the cheapest water filtration system available, but that a more expensive unit was installed in your home. You are requesting that the equipment be picked-up and the contract be cancelled.To better explain our role – please be advised that TimePayment Corp. (“TPC”) acted solely as a finance lessor in this transaction. Our only role was to purchase the equipment of your choosing from an independent equipment vendor of your choosing to lease to you for a mutually-agreed-upon monthly amount. TPC and [redacted] are two completely separate companies – we do not share employees, profits or anything else. No representatives of TPC were present during the equipment vendor’s sales-pitch, nor do we have intimate knowledge concerning the cost of their water systems. On July 25, 2015 you signed the TimePayment Corp. Consumer Equipment Lease Agreement (via your Island PM Service representative) for a term of 48 months, at a total monthly amount of $152.29. On the same day, you also signed a 3-day “Buyer’s Right to Cancel” document, which allowed you until midnight on July 29th to cancel the transaction. Upon receipt of the equipment, you signed a Delivery and Acceptance Form (“D&A Form”), which confirms that the equipment was delivered as you requested, that you had inspected and were satisfied with the equipment, and that you unconditionally accepted same. For your convenience, I have attached copies of your Lease Agreement, Buyer’s Right to Cancel document and D&A Form hereto. While TPC understands and sympathizes with your financial hardships, we are not able to cancel the Lease Agreement. TPC relied on your representation that you had received and were satisfied with the equipment. As a result, we paid [redacted] for the water system and commenced the Lease Agreement on August 12, 2015. Please understand that returning the water system will not nullify the Lease Agreement or waive your obligations as outlined therein. If you still wish to return the equipment, you may contact [redacted] at [redacted] and ask them to coordinate the transaction with TimePayment’s Asset Department. We sincerely apologize that we cannot be of further assistance in this matter. We encourage you to contact our Customer Service Department to discuss payment options.
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]. Tear up that worthless contract your lying representative is pedaling and stop calling my home and harassing an 86 year old woman. Your contract and your claim mean nothing because your representative lied saying [redacted] was gong out of business and switch to [redacted] and Time Payment. I don't care if Time Payment is just a collection company you should have a conscience and screen your business dealings. A lie to get someone to sign a contract nullifies that contract. Stop calling me and harrassing me at home. I am not giving you a red cent.
Regards
[redacted]
TimePayment Corp. has had the opportunity to review your account, and we would like to address your complaint. On May 21, 2009, you entered into a Non-Cancelable Commercial Equipment Lease Agreement for 60 months, at a base monthly amount of $119.00. You are claiming that you were told that, once...
you returned the leased ATM machine at the end of the initial lease term, your account would be closed with no further payments due. On January 14, 2014, TimePayment mailed you an End of Lease Term warning letter, which summarized your end of lease term options (as outlined in section 5 of the Agreement). In essence, there are three options at the end of the lease term: the equipment may be returned by the end of the initial lease term (March 25, 2014, in this case), you may continue on a month-to-month rental basis under the existing terms, or you may purchase the equipment by paying the fair market value. As per the terms, if none of the options are exercised, the lease automatically extends on a month-to-month rental basis. During month-to-month rental, the account is billed on a monthly basis until the equipment is either purchased for the fair market value or returned. When you did not return the equipment by March 25th, and did not purchase it for the fair market value, your account was automatically extended on a month-to-month rental basis. Our records indicate that the last invoice paid on this account was the July 25, 2015 invoice – however, the equipment was not returned until October 12, 2015. For this reason, you were charged three (3) months of rental payments (August, September and October). Because the equipment remained in your possession during the times that you have been billed-for, it is TimePayment’s position that you remain responsible for paying those rental invoices. Records further indicate that you spoke with TimePayment’s Lessee Relations representatives and/or supervisors on at least five (5) separate occasions, via telephone and email, regarding this matter (after the equipment was returned). On September 10, 2015, you were informed that the equipment needed to be returned by September 25th in order to avoid being billed-for equipment rental in September (and, subsequently, October). On November 9, 2015, an individual named [redacted] called our Lessee Relations Department to dispute the past-due balance. Lessee Relations Supervisor, [redacted], explained to [redacted] that the equipment had not been returned in time to avoid the subsequent invoices. As a courtesy, [redacted] agreed to void the invoices for September and October, if you would agree to pay the August invoice. [redacted] rejected that offer. On December 22, 2015, [redacted] spoke with TimePayment representative, [redacted], who reiterated the information that other representatives had provided previously. [redacted] followed-up that telephone conversation with an email – a copy of that email is attached, for your review. In her email, [redacted] maintained TimePayment’s position that all three (3) past-due invoices were due owed, but stated that TimePayment remained willing to void the September and October invoices if you would agree to pay for August. TimePayment’s last record of receiving correspondence from anyone at your business regarding the account was on January 13, 2016. To date, we have not received payment for the August, 2015 invoice. Also, pursuant to section 3 of the Agreement (“Credit Inquiries and Credit Reporting”), TimePayment is authorized to provide payment history information to the credit bureaus. In compliance with the Fair Credit Reporting Act (FCRA), TimePayment is 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. We apologize that we are not able to further assist with this request. TimePayment will extend our offer to void the invoices for September and October, and close the account for one final payment of $167.03 until the close of business on Friday, June 17th. If you wish to accept this offer, please contact our Lessee Relations Department at our toll-free number, or send an email to [email protected]
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does satisfy my issues and/or concerns in reference to complaint #[redacted]. I understand that by choosing to accept the business response that my complaint will be closed as resolved. They have opted to remove the FMV that was due at the end of the final two payments. I am satisfied with their response and agree to end the complaint
Regards,
[redacted]
As previously stated, you do not owe any additional money on the account. We are working to correct the glitch so that the $1.06 balance does not reflect when you log-in to the online portal. You should not receive any additional notices in the mail. Please allow time for the glitch to be corrected. Your account with TimePayment is closed.
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does satisfy my issues and/or concerns in reference to complaint #[redacted]. I understand that by choosing to accept the business response that my complaint will be closed as resolved.
Regards,
[redacted]First of all my husband is the customer and he works. And does not have the time to keep track of what is going on. The company does not call to give updates to him. He calls when he has time.We found out about the new agreement on June 29. And contacted our salesperson on July 5. He informed that the application was cancelled. And another credit report needs to be done over again.And that he was working on the new agreement.
TimePayment would like to take this opportunity to better explain our role in this transaction, as well as the terms of the contract that you have with us. TimePayment is a finance lessor of business equipment, as is more thoroughly described under section 2A of the Uniform Commercial Code....
Our only role in this transaction was to purchase equipment of your choosing, from an independent equipment vendor of your choosing ([redacted] Group Inc.), to then lease that equipment back to you for a mutually-agreeable monthly amount. TimePayment first received your credit application on September 12, 2017, from a third-party broker, [redacted] LLC. TimePayment Corp., [redacted] LLC and [redacted] Group Inc. are three completely separate companies – we do not share employees, profits, offices or anything else. After your application was approved, the Non-Cancelable Commercial Equipment Lease Agreement (“Agreement”) was sent to you, via email, to sign electronically. Records reflect that you placed your electronic signature on the Agreement on September 14, 2017. A copy of the Agreement is attached, for your review. On September 15, 2017, TimePayment conducted a verification telephone call with, wherein you confirmed that you understood that you had signed a Non-Cancelable Commercial Equipment Lease Agreement for a base monthly amount of $68.73 (plus applicable taxes and fees) for 57 months. At no time during that telephone call did you indicate that you believed the monthly fee to have been for less money. Following the successful completion of the verification telephone call, TimePayment paid the vendor for the equipment and commenced the Agreement. Your current monthly payment totals $84.75 – this figure is comprised of the following: Base monthly payment: $68.73; Sales tax: $6.19; Property Tax: $1.83; Loss or Destruction Waiver Fee: $8.00. You may have the Loss or Destruction Waiver Fee removed from the Account at any time, by providing a copy of a valid insurance binder. TimePayment has never represented that the monthly payment would be for less than $50.00. As stated, your regular monthly payment is $84.75 – any amounts that you have been charged in excess of that amount are the result of collection-related fees. Any questions related to the voltage of the equipment will need to be discussed with the vendor directly, as TimePayment is simply the finance lessor, and is unable to answer equipment-related inquiries. You were given ample opportunity to review the Agreement and determine that its terms were not satisfactory to you, prior to signing. The Agreement commenced on September 20, 2017, and cannot be cancelled at this time. We apologize that we cannot be of further assistance in this matter. Please do not hesitate to contact our Customer Service Department with any additional questions or concerns that you may have with regard to the account.
TimePayment's records indicate that you completed a Forgery Questionnaire and returned it to TimePayment. It was received by our Legal Resolutions Department on December 13, 2016, and you were mailed a letter confirming same. Legal Resolutions Coordinator, [redacted], immediately commenced an...
investigation into your claim of identity theft, and has been in contact with you regarding that ongoing investigation. Should you have further questions regarding the status of the investigation, please contact [redacted] at ([redacted], ext. [redacted], or at [redacted].[redacted]
TimePayment has had the opportunity to review your account, and we would like to address your concerns in our response. As an initial matter, please be advised that TimePayment Corp. is a finance lessor, located in Massachusetts. We do not have representatives or offices in the state of Georgia,...
and do not have any way of recovering the equipment ourselves. Pursuant to the terms of the Commercial Equipment Lease Agreement that you signed (see section 6, “End of Lease Term”), you are responsible for returning the equipment once the obligations under the Lease have been fulfilled. Occasionally, TimePayment’s Asset Department is able to make arrangements with remarketing companies more local to our customers, so that equipment can be picked-up, rather than a customer having to ship it to us in Massachusetts. Be advised that this is done as a courtesy, as TimePayment is under no obligation to pick-up equipment. We apologize if you perceived our representative's email to mean that the equipment could be picked-up immediately, however that was never stated and TimePayment has no control over the availability and scheduling of other companies. In this case, your buyout payment was received on June 27, 2017 and you were informed that TimePayment’s Asset Department is working to make arrangements with a company more local to you, to have the equipment picked-up. We apologize that the pickup cannot happen immediately, but we encourage you to work with *. [redacted] in our Asset Department, at *.[redacted], or at [redacted], to make arrangements for the equipment to be picked-up in the near future.
TimePayment Corp. has had the opportunity to review your account, and we would like to address your concerns, and clarify some of the terms of the contract that you signed. As an initial matter, please understand that TimePayment is a finance lessor, as is more thoroughly described under UCC 2A – we...
are not a bank, and do not provide loans or charge interest of any kind. Our records indicate that TimePayment first received your credit application on February 29, 2016, when it was electronically submitted to us by the independent equipment vendor, [redacted]. The contract that you signed electronically on March 1, 2016 is a Non-Cancelable Commercial Equipment Lease Agreement (“Agreement”). The Agreement identifies itself as such in capital font at the top of page 1, and throughout the pages of the contract. There is nothing in this document which would indicate this is a loan agreement, or that it includes interest. I have attached a copy of the Agreement, for your review. TimePayment’s first contact with you was on March 2, 2016 (after the Lease Agreement had already been signed), when you confirmed your understanding of the contract terms during a telephone call with our Funding Department. During that telephone call, you confirmed that you understood that you had signed a Non-Cancelable Commercial Equipment Lease Agreement for a base amount of $472.62 per month, for 21 months. You further advised that you would be undergoing surgery the following day, and authorized TimePayment to speak directly with your daughter regarding the account. At no time during that telephone call did you indicate that you believed the contract to be a loan or purchase agreement, or that you were dissatisfied with its terms. Regarding your assertion that additional monthly taxes and fees were not disclosed to you, please refer to box “A” (“Schedule of Payments”) on page 1 of the Agreement. Per the Agreement, you agreed to pay $472.62 (plus applicable taxes and fees) per month for a term of 21 months. Any additional fees that may be applied to your account are disclosed within the “Terms and Conditions” section of the Agreement. We urge you to contact our Lessee Relations Department to discuss how some of these fees can be avoided. Currently, your monthly invoice is comprised of the base monthly payment ($472.62), sales tax ($33.08), property tax ($11.45) and the Loss or Destruction Waiver fee ($32.00) – totaling $549.15. The taxes and Loss or Destruction Waiver fee are noted in box “A”, and are described in greater detail on page 3 of the Agreement. Further, on March 15th, TimePayment mailed you a welcome letter, summarizing the terms of the Agreement that you had signed and the taxes that you would be charged. That letter also reminded you that you would be charged the Loss or Destruction Waiver fee if you did not provide a valid insurance binder before your next payment was due. A copy of that letter is attached, for your review. Please note: To date, TimePayment has not received a valid insurance binder. Regarding your correspondence with the independent equipment vendor, we urge you to refer to the “Agency Disclaimer” on page 2 of the Agreement. This section specifically states that the vendor is not an agent of TimePayment; that they are in no way authorized to waive or alter the terms of the Agreement; and that their representations shall, in no way, affect lessor or lessee’s rights and obligations as therein set forth. As previously stated, because this is a Lease Agreement (and not a loan), there is no interest being charged. Pursuant to the terms of the contract, all 21 requisite monthly payments must be made before the account can be closed. Please refer to section 6 (“End of Lease Term”) for information on the options that are available to you once all of the requisite lease payments have been made. If you wish to pay-off the Lease Agreement, the current buyout (to keep the equipment) is $10,461.86. There are 19 payments remaining on the initial lease term. Should you have any questions related to billing, payments, fees or insurance binder requirements, please do not hesitate to contact our Lessee Relations Department at our toll-free number.
Revdex.com:
This is Ridiculous! There is no way this company should be in business, nor have a A+ rating. It's not a coincidence that everyone has had the same issues. They are scam artist!
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].
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 understand I am responsible for fixing the equipment if it is not functioning. It was and remains unusable due to a password lockout the rep, [redacted], put in place. He is the only person able to "fix" the problem and he has been non-responsive. Due to the amount of time the leased equipment has remained unusable, I am requesting to return the equipment in the same working order in which it was leased and have the contract voided since the leased equipment did not provide any usage.]
Regards,
[redacted]
TimePayment Corp.’s Legal Resolutions Department has had the opportunity to review your complaint, filed with the Revdex.com, and we would like to take this opportunity to clarify the terms of the Lease Agreement that you signed with our company.TimePayment’s only role in this transaction was that of a...
finance lessor – extending credit to you in the form of a Lease after receiving your electronic credit application from the independent broker company, LeaseStation, and approving it. As a lessor, TimePayment does not charge interest, or offer loans of any kind. Our part in this transaction was to purchase equipment of your choosing from the independent equipment vendor ([redacted]) to lease back to you and your business for the agreed-upon monthly amount. On January 29, 2015 you electronically signed Non-Cancelable Commercial Equipment Lease Agreement No. [redacted] for a 12” x 30” Gear Head Combo Lathe Mill Drill with Cooling System, agreeing to pay a base monthly rate of $204.07 for a term of 57 months. As the Lessee and Personal Guarantor, you were responsible for carefully reading the entire contract prior to signing. We ask that you refer to the top, left corner of page one (1) of the Lease Agreement, which states: “This is a Lease Agreement between TimePayment Corp. and the Lessee. Lessee acknowledges that it is entering into this lease with TimePayment Corp. and that TimePayment Corp. is not in any way associated or affiliated with the Equipment Vendor, Dealer or Manufacturer. This is a legally binding contract. If the terms and conditions are not fully understood, legal advice should be sought before signing.”As further confirmation that you understood the document that you had signed, TimePayment Corp. completed a recorded verification telephone call with you on January 30, 2015. It was during that telephone call that you confirmed that you understood that you had signed a Non-Cancelable Commercial Equipment Lease Agreement with a base monthly rate of $204.07 (plus applicable taxes and fees) for a term of 57 months. Upon successful completion of that recorded telephone call, TimePayment Corp. paid [redacted] for the equipment that is listed on the Lease Agreement and commenced the contract. Your obligations became irrevocable at that time. Upon receiving the equipment, on April 6, 2015 you electronically signed a Delivery and Acceptance Form, which states (in part): “This Lease a NON-CANCELABLE Commercial Lease Agreement between the Lessee and TimePayment Corp. This Lease is for 57 months and the base monthly payment is $204.07 (plus applicable taxes, tax processing fee, and loss or destruction waiver). No written or verbal alteration of this Lease Agreement is valid.” For your convenience, I have attached copies of the Lease Agreement, as well as the Delivery and Acceptance Form. We understand that you are requesting to pay only the retail value of the equipment. Unfortunately, because you elected to lease the equipment, rather than purchase it directly from [redacted], we are unable to comply with this request. It is TimePayment’s position that the costs and fees associated with the Lease Agreement were properly and accurately disclosed to you, both verbally and in writing, prior to commencement of the contract. We apologize that we cannot be of further assistance in this matter, and for any negative experience that you may have had with our company. We value our customers, and it is our sincere hope that our response has clarified the terms of the contract that you signed, as well as our company’s role in this transaction.
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does satisfy my issues and/or concerns in reference to complaint #[redacted]. I understand that by choosing to accept the business response that my complaint will be closed as resolved.
Regards,
[redacted]
We would like to further clarify the terms of the Lease Agreement, and correct one prior statement. As stated in our initial response, your account continued generating monthly bills when you failed to make your final lease payment in September. To correct our previous statement, your account currently contains two (2) past-due invoices (September 10th and October 10th), and one additional invoice (November 10th) which is not past-due. New invoices will continue to generate on the 14th of each month until the account is closed. Additionally, TimePayment did not request that you return the equipment one month prior to the end of the lease term. TimePayment requested that you return the equipment by September 10th – which was the date that your lease term was set to expire. However, because you failed to submit your final payment, the lease term did not end. In order for us to close your account and consider it paid in full, you do need to complete the requisite lease term by paying the invoice that was due on September 10th for $365.22. We hope that our responses have clarified any confusion.
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 final payment was made through their portal on 7/14/16. Attached I have included screen shots of the payment confirmation on 7/14/16 from Time Payments portal as well as a screen shot of the payment being subtracted from my bank on 7/18/16 for Time Payment. The account has been satisfied!
Regards,
[redacted]
TimePayment has had the opportunity to review the account referenced in your complaint, and we would like to take this opportunity to better explain our role in the transaction. The contract that TimePayment bills you for each month is an Alarm Monitoring Agreement for security monitoring...
services, which are provided by a third-party company ([redacted], ###-###-####). TimePayment did not provide the equipment that is installed in your home, nor do we provide alarm monitoring services. On August 31, 2015, you signed an Alarm Monitoring Agreement with a company called [redacted] (“[redacted]”). Pursuant to section 20 (“Assignment”) of the Agreement, [redacted] had the right to assign their collection rights under the contract to another company. TimePayment took assignment of [redacted]’s collection rights under the contract on September 3, 2015. Section 20 states: “Dealer ([redacted]) shall have the right to assign this agreement’s billing and collection rights, and the monthly monitoring service payments due, to a financing entity (TimePayment) without notice to the customer. Dealer shall not be allowed to assign to that financing entity any right, title or interest it may possess in the equipment and that financing entity shall have none of the dealer’s equipment servicing obligations…” To summarize, TimePayment’s only role in this transaction is to collect your monthly alarm service monitoring fee. We are not able to assist with any equipment or service-related issues. We reached-out to [redacted], on your behalf, to inquire about the servicing issues referenced in your complaint. [redacted] maintains that they have offered to assist you with whatever issues you may be having, but that you have been unwilling to cooperate with their efforts. We apologize that we cannot be of further assistance in this matter, and we urge you to work with [redacted] to reach an amicable resolution to your equipment and servicing complaints.
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.
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. First of all thank you for your response. Regarding first point, YES we are stating that [redacted] ( sales rep from whatever company since there are 3 names we are dealing with) stated there would be no penalty to pay off early and yes we can pay it off whenever and be responsible for taxes and fees for that time. Secondly, YES we are stating we were NEVER told we were entering a lease and that is the problem. Yes, we are aware of the name of company [redacted] which again is why we were asking about the terminology, and like we said we trusted [redacted] since we were a repeated customer so we chose to take advantage of the financing option which was not disclosed as a lease, however now we find out that [redacted] is different and has nothing to do with Time Payment. This is very confusing to understand from a consumer with each of your responsibilities and undefined roles you have, bottom line we were not informed this was a lease, even the welcome letter you attached does not state anywhere that it is a lease, it only states financing which again we were told it was a loan.We want out of this arrangement, if you want the equipment back we will definitely follow protocol. What can be done at this point to resolve this miscommunication since you clearly stated your company values your customers. Bottom line since [redacted] is not from Time Payment, we never talked to anyone from the company that we got the so called lease from. Again the welcome letter you are referencing never stated lease, it only stated financing so again we trusted the rep from [redacted] as well as [redacted] since we previously done business together. I can definitely do a complaint on [redacted] as well since [redacted] was the sales rep that did not properly disclose all needed information, we would like a copy of the recorded phone calls as well.
Regards,
[redacted]
TimePayment is in receipt of your complaint regarding Lease Agreement number [redacted]. Our records indicate that you signed a Non-Cancelable Commercial Equipment Lease Agreement in February of 2011 for a period of 48 months. In your complaint, you have indicated that, on March 11, 2015, you verbally...
requested to know the buyout amount on your account – which TimePayment representative, [redacted], informed you was $2,222.19 (at that time). You have asserted that [redacted] also assured you that your buyout amount could be satisfied by simply allowing your monthly automatic payments to continue being deducted from your bank account for another three (3) months following that conversation. Last, you have stated that, on June 9th, Lessee Relations Manager, [redacted], agreed to accept a reduced buyout amount of $1,111.10 in regard to your Lease Agreement – if paid by July 9th. However, TimePayment then (the next day) deducted your regular payment for the month of June (totaling $662.54) – which you now believe should be deducted from the $1,111.10 settlement amount that was agreed-to on the 9th. Unfortunately, our records do not support some of the information stated in your complaint. Our records indicate that the conversation between yourself and [redacted] took place on March 10, 2015 and that [redacted] informed you, at that time, that the buyout price that she provided to you was only valid for a period of 15 days. As further confirmation of this information, TimePayment mailed you a Buyout Letter (dated March 11, 2015) which informed you of the buyout amount on your account at that time ($2,222.19) and also stated: “IF YOU WANT TO BUYOUT YOUR LEASE, PLEASE SEND IN THIS AMOUNT WITHIN 15 DAYS OF THE DATE OF THIS LETTER. PLEASE MAKE SURE TO MARK YOUR CHECK CLEARLY WITH THE WORD ‘BUYOUT’, AND SEND THE CHECK ATTENTION ‘LESSEE-RELATIONS’.” I have attached a copy of this letter for your review. On November 4, 2014, 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 (10-Jan-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.” The information provided in the End of Lease term letter is also stated in section 5 (“End of Lease Term”) of the Lease Agreement that you signed. I have attached a copy of this letter, as well as the Lease Agreement, for your review.Our records indicate that your account automatically transferred over to “Month-To-Month Rental” (per the terms of the contract) on December 10, 2014 and you did not contact TimePayment again until three (3) months later (on March 10, 2015), when you called and spoke to [redacted]. Unfortunately, our records do not support your claim that any TimePayment representatives informed you that the buyout amount could be paid via monthly installments over three (3) months as [redacted]’s notes on your account (as well as the letter that was mailed to you the following day) indicate that the buyout quote was only valid for a period of fifteen (15) days. Further review of our records supports your statement that, on June 9th, [redacted] agreed to accept a settlement payment of $1,111.10 (due by July 9th). However, because your account was set-up on automatic payments, your payment due on June 10th (for $662.54) was already showing as having posted to your account on our end. [redacted] was under the impression that you were aware that your June payment had already processed, and that she was agreeing to settle the account for an additional amount of $1,111.10 (after that payment). You have argued that, because the payment of $662.54 did not show on your bank account until June 10th, that amount should be deducted from the $1,111.10 settlement amount that [redacted] agreed to accept on June 9th – leaving you with a balance due of $448.56. It is TimePayment’s position that all costs and fees have been billed to your account appropriately, and in accordance with the terms of the contract that you signed. We were under no obligation to offer a reduced buyout on your account, and did so only as a courtesy and in an effort to amicably resolve your dispute. With that said, we understand the confusion caused by the posting date of your June payment and are willing to apply your last payment of $662.54 to the $1,111.10 settlement balance that [redacted] quoted to you on June 9th. Your remaining balance owed to TimePayment is $448.56 – please pay this amount by July 9, 2015 to avoid any additional charges. Once received, we will consider your account to be paid in full.
We are sorry to hear that you are not satisfied with our response to your complaint. No additional arguments have been made, via your rebuttal, and TimePayment maintains our position as stated in our original response.
TimePayment Corp. is in receipt of your complaint, filed against our company in regard to Lease Agreement No. [redacted]. We would like to take this opportunity to more thoroughly explain the terms of the contract that you signed, as well as our role in this transaction.In your complaint, you have...
indicated that your son was employed as a sales representative with the equipment vendor company, [redacted] at the time that you signed the Lease Agreement. You are claiming that you intended to “purchase” the cheapest water filtration system available, but that a more expensive unit was installed in your home. You are requesting that the equipment be picked-up and the contract be cancelled.To better explain our role – please be advised that TimePayment Corp. (“TPC”) acted solely as a finance lessor in this transaction. Our only role was to purchase the equipment of your choosing from an independent equipment vendor of your choosing to lease to you for a mutually-agreed-upon monthly amount. TPC and [redacted] are two completely separate companies – we do not share employees, profits or anything else. No representatives of TPC were present during the equipment vendor’s sales-pitch, nor do we have intimate knowledge concerning the cost of their water systems. On July 25, 2015 you signed the TimePayment Corp. Consumer Equipment Lease Agreement (via your Island PM Service representative) for a term of 48 months, at a total monthly amount of $152.29. On the same day, you also signed a 3-day “Buyer’s Right to Cancel” document, which allowed you until midnight on July 29th to cancel the transaction. Upon receipt of the equipment, you signed a Delivery and Acceptance Form (“D&A Form”), which confirms that the equipment was delivered as you requested, that you had inspected and were satisfied with the equipment, and that you unconditionally accepted same. For your convenience, I have attached copies of your Lease Agreement, Buyer’s Right to Cancel document and D&A Form hereto. While TPC understands and sympathizes with your financial hardships, we are not able to cancel the Lease Agreement. TPC relied on your representation that you had received and were satisfied with the equipment. As a result, we paid [redacted] for the water system and commenced the Lease Agreement on August 12, 2015. Please understand that returning the water system will not nullify the Lease Agreement or waive your obligations as outlined therein. If you still wish to return the equipment, you may contact [redacted] at [redacted] and ask them to coordinate the transaction with TimePayment’s Asset Department. We sincerely apologize that we cannot be of further assistance in this matter. We encourage you to contact our Customer Service Department to discuss payment options.
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]. Tear up that worthless contract your lying representative is pedaling and stop calling my home and harassing an 86 year old woman. Your contract and your claim mean nothing because your representative lied saying [redacted] was gong out of business and switch to [redacted] and Time Payment. I don't care if Time Payment is just a collection company you should have a conscience and screen your business dealings. A lie to get someone to sign a contract nullifies that contract. Stop calling me and harrassing me at home. I am not giving you a red cent.
Regards
[redacted]
TimePayment Corp. has had the opportunity to review your account, and we would like to address your complaint. On May 21, 2009, you entered into a Non-Cancelable Commercial Equipment Lease Agreement for 60 months, at a base monthly amount of $119.00. You are claiming that you were told that, once...
you returned the leased ATM machine at the end of the initial lease term, your account would be closed with no further payments due. On January 14, 2014, TimePayment mailed you an End of Lease Term warning letter, which summarized your end of lease term options (as outlined in section 5 of the Agreement). In essence, there are three options at the end of the lease term: the equipment may be returned by the end of the initial lease term (March 25, 2014, in this case), you may continue on a month-to-month rental basis under the existing terms, or you may purchase the equipment by paying the fair market value. As per the terms, if none of the options are exercised, the lease automatically extends on a month-to-month rental basis. During month-to-month rental, the account is billed on a monthly basis until the equipment is either purchased for the fair market value or returned. When you did not return the equipment by March 25th, and did not purchase it for the fair market value, your account was automatically extended on a month-to-month rental basis. Our records indicate that the last invoice paid on this account was the July 25, 2015 invoice – however, the equipment was not returned until October 12, 2015. For this reason, you were charged three (3) months of rental payments (August, September and October). Because the equipment remained in your possession during the times that you have been billed-for, it is TimePayment’s position that you remain responsible for paying those rental invoices. Records further indicate that you spoke with TimePayment’s Lessee Relations representatives and/or supervisors on at least five (5) separate occasions, via telephone and email, regarding this matter (after the equipment was returned). On September 10, 2015, you were informed that the equipment needed to be returned by September 25th in order to avoid being billed-for equipment rental in September (and, subsequently, October). On November 9, 2015, an individual named [redacted] called our Lessee Relations Department to dispute the past-due balance. Lessee Relations Supervisor, [redacted], explained to [redacted] that the equipment had not been returned in time to avoid the subsequent invoices. As a courtesy, [redacted] agreed to void the invoices for September and October, if you would agree to pay the August invoice. [redacted] rejected that offer. On December 22, 2015, [redacted] spoke with TimePayment representative, [redacted], who reiterated the information that other representatives had provided previously. [redacted] followed-up that telephone conversation with an email – a copy of that email is attached, for your review. In her email, [redacted] maintained TimePayment’s position that all three (3) past-due invoices were due owed, but stated that TimePayment remained willing to void the September and October invoices if you would agree to pay for August. TimePayment’s last record of receiving correspondence from anyone at your business regarding the account was on January 13, 2016. To date, we have not received payment for the August, 2015 invoice. Also, pursuant to section 3 of the Agreement (“Credit Inquiries and Credit Reporting”), TimePayment is authorized to provide payment history information to the credit bureaus. In compliance with the Fair Credit Reporting Act (FCRA), TimePayment is 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. We apologize that we are not able to further assist with this request. TimePayment will extend our offer to void the invoices for September and October, and close the account for one final payment of $167.03 until the close of business on Friday, June 17th. If you wish to accept this offer, please contact our Lessee Relations Department at our toll-free number, or send an email to [email protected]
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does satisfy my issues and/or concerns in reference to complaint #[redacted]. I understand that by choosing to accept the business response that my complaint will be closed as resolved. They have opted to remove the FMV that was due at the end of the final two payments. I am satisfied with their response and agree to end the complaint
Regards,
[redacted]
As previously stated, you do not owe any additional money on the account. We are working to correct the glitch so that the $1.06 balance does not reflect when you log-in to the online portal. You should not receive any additional notices in the mail. Please allow time for the glitch to be corrected. Your account with TimePayment is closed.
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does satisfy my issues and/or concerns in reference to complaint #[redacted]. I understand that by choosing to accept the business response that my complaint will be closed as resolved.
Regards,
[redacted]First of all my husband is the customer and he works. And does not have the time to keep track of what is going on. The company does not call to give updates to him. He calls when he has time.We found out about the new agreement on June 29. And contacted our salesperson on July 5. He informed that the application was cancelled. And another credit report needs to be done over again.And that he was working on the new agreement.
TimePayment would like to take this opportunity to better explain our role in this transaction, as well as the terms of the contract that you have with us. TimePayment is a finance lessor of business equipment, as is more thoroughly described under section 2A of the Uniform Commercial Code....
Our only role in this transaction was to purchase equipment of your choosing, from an independent equipment vendor of your choosing ([redacted] Group Inc.), to then lease that equipment back to you for a mutually-agreeable monthly amount. TimePayment first received your credit application on September 12, 2017, from a third-party broker, [redacted] LLC. TimePayment Corp., [redacted] LLC and [redacted] Group Inc. are three completely separate companies – we do not share employees, profits, offices or anything else. After your application was approved, the Non-Cancelable Commercial Equipment Lease Agreement (“Agreement”) was sent to you, via email, to sign electronically. Records reflect that you placed your electronic signature on the Agreement on September 14, 2017. A copy of the Agreement is attached, for your review. On September 15, 2017, TimePayment conducted a verification telephone call with, wherein you confirmed that you understood that you had signed a Non-Cancelable Commercial Equipment Lease Agreement for a base monthly amount of $68.73 (plus applicable taxes and fees) for 57 months. At no time during that telephone call did you indicate that you believed the monthly fee to have been for less money. Following the successful completion of the verification telephone call, TimePayment paid the vendor for the equipment and commenced the Agreement. Your current monthly payment totals $84.75 – this figure is comprised of the following: Base monthly payment: $68.73; Sales tax: $6.19; Property Tax: $1.83; Loss or Destruction Waiver Fee: $8.00. You may have the Loss or Destruction Waiver Fee removed from the Account at any time, by providing a copy of a valid insurance binder. TimePayment has never represented that the monthly payment would be for less than $50.00. As stated, your regular monthly payment is $84.75 – any amounts that you have been charged in excess of that amount are the result of collection-related fees. Any questions related to the voltage of the equipment will need to be discussed with the vendor directly, as TimePayment is simply the finance lessor, and is unable to answer equipment-related inquiries. You were given ample opportunity to review the Agreement and determine that its terms were not satisfactory to you, prior to signing. The Agreement commenced on September 20, 2017, and cannot be cancelled at this time. We apologize that we cannot be of further assistance in this matter. Please do not hesitate to contact our Customer Service Department with any additional questions or concerns that you may have with regard to the account.
TimePayment's records indicate that you completed a Forgery Questionnaire and returned it to TimePayment. It was received by our Legal Resolutions Department on December 13, 2016, and you were mailed a letter confirming same. Legal Resolutions Coordinator, [redacted], immediately commenced an...
investigation into your claim of identity theft, and has been in contact with you regarding that ongoing investigation. Should you have further questions regarding the status of the investigation, please contact [redacted] at ([redacted], ext. [redacted], or at [redacted].[redacted]
TimePayment has had the opportunity to review your account, and we would like to address your concerns in our response. As an initial matter, please be advised that TimePayment Corp. is a finance lessor, located in Massachusetts. We do not have representatives or offices in the state of Georgia,...
and do not have any way of recovering the equipment ourselves. Pursuant to the terms of the Commercial Equipment Lease Agreement that you signed (see section 6, “End of Lease Term”), you are responsible for returning the equipment once the obligations under the Lease have been fulfilled. Occasionally, TimePayment’s Asset Department is able to make arrangements with remarketing companies more local to our customers, so that equipment can be picked-up, rather than a customer having to ship it to us in Massachusetts. Be advised that this is done as a courtesy, as TimePayment is under no obligation to pick-up equipment. We apologize if you perceived our representative's email to mean that the equipment could be picked-up immediately, however that was never stated and TimePayment has no control over the availability and scheduling of other companies. In this case, your buyout payment was received on June 27, 2017 and you were informed that TimePayment’s Asset Department is working to make arrangements with a company more local to you, to have the equipment picked-up. We apologize that the pickup cannot happen immediately, but we encourage you to work with *. [redacted] in our Asset Department, at *.[redacted], or at [redacted], to make arrangements for the equipment to be picked-up in the near future.
TimePayment Corp. has had the opportunity to review your account, and we would like to address your concerns, and clarify some of the terms of the contract that you signed. As an initial matter, please understand that TimePayment is a finance lessor, as is more thoroughly described under UCC 2A – we...
are not a bank, and do not provide loans or charge interest of any kind. Our records indicate that TimePayment first received your credit application on February 29, 2016, when it was electronically submitted to us by the independent equipment vendor, [redacted]. The contract that you signed electronically on March 1, 2016 is a Non-Cancelable Commercial Equipment Lease Agreement (“Agreement”). The Agreement identifies itself as such in capital font at the top of page 1, and throughout the pages of the contract. There is nothing in this document which would indicate this is a loan agreement, or that it includes interest. I have attached a copy of the Agreement, for your review. TimePayment’s first contact with you was on March 2, 2016 (after the Lease Agreement had already been signed), when you confirmed your understanding of the contract terms during a telephone call with our Funding Department. During that telephone call, you confirmed that you understood that you had signed a Non-Cancelable Commercial Equipment Lease Agreement for a base amount of $472.62 per month, for 21 months. You further advised that you would be undergoing surgery the following day, and authorized TimePayment to speak directly with your daughter regarding the account. At no time during that telephone call did you indicate that you believed the contract to be a loan or purchase agreement, or that you were dissatisfied with its terms. Regarding your assertion that additional monthly taxes and fees were not disclosed to you, please refer to box “A” (“Schedule of Payments”) on page 1 of the Agreement. Per the Agreement, you agreed to pay $472.62 (plus applicable taxes and fees) per month for a term of 21 months. Any additional fees that may be applied to your account are disclosed within the “Terms and Conditions” section of the Agreement. We urge you to contact our Lessee Relations Department to discuss how some of these fees can be avoided. Currently, your monthly invoice is comprised of the base monthly payment ($472.62), sales tax ($33.08), property tax ($11.45) and the Loss or Destruction Waiver fee ($32.00) – totaling $549.15. The taxes and Loss or Destruction Waiver fee are noted in box “A”, and are described in greater detail on page 3 of the Agreement. Further, on March 15th, TimePayment mailed you a welcome letter, summarizing the terms of the Agreement that you had signed and the taxes that you would be charged. That letter also reminded you that you would be charged the Loss or Destruction Waiver fee if you did not provide a valid insurance binder before your next payment was due. A copy of that letter is attached, for your review. Please note: To date, TimePayment has not received a valid insurance binder. Regarding your correspondence with the independent equipment vendor, we urge you to refer to the “Agency Disclaimer” on page 2 of the Agreement. This section specifically states that the vendor is not an agent of TimePayment; that they are in no way authorized to waive or alter the terms of the Agreement; and that their representations shall, in no way, affect lessor or lessee’s rights and obligations as therein set forth. As previously stated, because this is a Lease Agreement (and not a loan), there is no interest being charged. Pursuant to the terms of the contract, all 21 requisite monthly payments must be made before the account can be closed. Please refer to section 6 (“End of Lease Term”) for information on the options that are available to you once all of the requisite lease payments have been made. If you wish to pay-off the Lease Agreement, the current buyout (to keep the equipment) is $10,461.86. There are 19 payments remaining on the initial lease term. Should you have any questions related to billing, payments, fees or insurance binder requirements, please do not hesitate to contact our Lessee Relations Department at our toll-free number.
Revdex.com:
This is Ridiculous! There is no way this company should be in business, nor have a A+ rating. It's not a coincidence that everyone has had the same issues. They are scam artist!
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].
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]. .
[I understand I am responsible for fixing the equipment if it is not functioning. It was and remains unusable due to a password lockout the rep, [redacted], put in place. He is the only person able to "fix" the problem and he has been non-responsive. Due to the amount of time the leased equipment has remained unusable, I am requesting to return the equipment in the same working order in which it was leased and have the contract voided since the leased equipment did not provide any usage.]
Regards,
[redacted]
TimePayment Corp.’s Legal Resolutions Department has had the opportunity to review your complaint, filed with the Revdex.com, and we would like to take this opportunity to clarify the terms of the Lease Agreement that you signed with our company.TimePayment’s only role in this transaction was that of a...
finance lessor – extending credit to you in the form of a Lease after receiving your electronic credit application from the independent broker company, LeaseStation, and approving it. As a lessor, TimePayment does not charge interest, or offer loans of any kind. Our part in this transaction was to purchase equipment of your choosing from the independent equipment vendor ([redacted]) to lease back to you and your business for the agreed-upon monthly amount. On January 29, 2015 you electronically signed Non-Cancelable Commercial Equipment Lease Agreement No. [redacted] for a 12” x 30” Gear Head Combo Lathe Mill Drill with Cooling System, agreeing to pay a base monthly rate of $204.07 for a term of 57 months. As the Lessee and Personal Guarantor, you were responsible for carefully reading the entire contract prior to signing. We ask that you refer to the top, left corner of page one (1) of the Lease Agreement, which states: “This is a Lease Agreement between TimePayment Corp. and the Lessee. Lessee acknowledges that it is entering into this lease with TimePayment Corp. and that TimePayment Corp. is not in any way associated or affiliated with the Equipment Vendor, Dealer or Manufacturer. This is a legally binding contract. If the terms and conditions are not fully understood, legal advice should be sought before signing.”As further confirmation that you understood the document that you had signed, TimePayment Corp. completed a recorded verification telephone call with you on January 30, 2015. It was during that telephone call that you confirmed that you understood that you had signed a Non-Cancelable Commercial Equipment Lease Agreement with a base monthly rate of $204.07 (plus applicable taxes and fees) for a term of 57 months. Upon successful completion of that recorded telephone call, TimePayment Corp. paid [redacted] for the equipment that is listed on the Lease Agreement and commenced the contract. Your obligations became irrevocable at that time. Upon receiving the equipment, on April 6, 2015 you electronically signed a Delivery and Acceptance Form, which states (in part): “This Lease a NON-CANCELABLE Commercial Lease Agreement between the Lessee and TimePayment Corp. This Lease is for 57 months and the base monthly payment is $204.07 (plus applicable taxes, tax processing fee, and loss or destruction waiver). No written or verbal alteration of this Lease Agreement is valid.” For your convenience, I have attached copies of the Lease Agreement, as well as the Delivery and Acceptance Form. We understand that you are requesting to pay only the retail value of the equipment. Unfortunately, because you elected to lease the equipment, rather than purchase it directly from [redacted], we are unable to comply with this request. It is TimePayment’s position that the costs and fees associated with the Lease Agreement were properly and accurately disclosed to you, both verbally and in writing, prior to commencement of the contract. We apologize that we cannot be of further assistance in this matter, and for any negative experience that you may have had with our company. We value our customers, and it is our sincere hope that our response has clarified the terms of the contract that you signed, as well as our company’s role in this transaction.
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does satisfy my issues and/or concerns in reference to complaint #[redacted]. I understand that by choosing to accept the business response that my complaint will be closed as resolved.
Regards,
[redacted]
We would like to further clarify the terms of the Lease Agreement, and correct one prior statement. As stated in our initial response, your account continued generating monthly bills when you failed to make your final lease payment in September. To correct our previous statement, your account currently contains two (2) past-due invoices (September 10th and October 10th), and one additional invoice (November 10th) which is not past-due. New invoices will continue to generate on the 14th of each month until the account is closed. Additionally, TimePayment did not request that you return the equipment one month prior to the end of the lease term. TimePayment requested that you return the equipment by September 10th – which was the date that your lease term was set to expire. However, because you failed to submit your final payment, the lease term did not end. In order for us to close your account and consider it paid in full, you do need to complete the requisite lease term by paying the invoice that was due on September 10th for $365.22. We hope that our responses have clarified any confusion.
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 final payment was made through their portal on 7/14/16. Attached I have included screen shots of the payment confirmation on 7/14/16 from Time Payments portal as well as a screen shot of the payment being subtracted from my bank on 7/18/16 for Time Payment. The account has been satisfied!
Regards,
[redacted]
TimePayment has had the opportunity to review the account referenced in your complaint, and we would like to take this opportunity to better explain our role in the transaction. The contract that TimePayment bills you for each month is an Alarm Monitoring Agreement for security monitoring...
services, which are provided by a third-party company ([redacted], ###-###-####). TimePayment did not provide the equipment that is installed in your home, nor do we provide alarm monitoring services. On August 31, 2015, you signed an Alarm Monitoring Agreement with a company called [redacted] (“[redacted]”). Pursuant to section 20 (“Assignment”) of the Agreement, [redacted] had the right to assign their collection rights under the contract to another company. TimePayment took assignment of [redacted]’s collection rights under the contract on September 3, 2015. Section 20 states: “Dealer ([redacted]) shall have the right to assign this agreement’s billing and collection rights, and the monthly monitoring service payments due, to a financing entity (TimePayment) without notice to the customer. Dealer shall not be allowed to assign to that financing entity any right, title or interest it may possess in the equipment and that financing entity shall have none of the dealer’s equipment servicing obligations…” To summarize, TimePayment’s only role in this transaction is to collect your monthly alarm service monitoring fee. We are not able to assist with any equipment or service-related issues. We reached-out to [redacted], on your behalf, to inquire about the servicing issues referenced in your complaint. [redacted] maintains that they have offered to assist you with whatever issues you may be having, but that you have been unwilling to cooperate with their efforts. We apologize that we cannot be of further assistance in this matter, and we urge you to work with [redacted] to reach an amicable resolution to your equipment and servicing complaints.
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.
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. First of all thank you for your response. Regarding first point, YES we are stating that [redacted] ( sales rep from whatever company since there are 3 names we are dealing with) stated there would be no penalty to pay off early and yes we can pay it off whenever and be responsible for taxes and fees for that time. Secondly, YES we are stating we were NEVER told we were entering a lease and that is the problem. Yes, we are aware of the name of company [redacted] which again is why we were asking about the terminology, and like we said we trusted [redacted] since we were a repeated customer so we chose to take advantage of the financing option which was not disclosed as a lease, however now we find out that [redacted] is different and has nothing to do with Time Payment. This is very confusing to understand from a consumer with each of your responsibilities and undefined roles you have, bottom line we were not informed this was a lease, even the welcome letter you attached does not state anywhere that it is a lease, it only states financing which again we were told it was a loan.We want out of this arrangement, if you want the equipment back we will definitely follow protocol. What can be done at this point to resolve this miscommunication since you clearly stated your company values your customers. Bottom line since [redacted] is not from Time Payment, we never talked to anyone from the company that we got the so called lease from. Again the welcome letter you are referencing never stated lease, it only stated financing so again we trusted the rep from [redacted] as well as [redacted] since we previously done business together. I can definitely do a complaint on [redacted] as well since [redacted] was the sales rep that did not properly disclose all needed information, we would like a copy of the recorded phone calls as well.
Regards,
[redacted]
TimePayment is in receipt of your complaint regarding Lease Agreement number [redacted]. Our records indicate that you signed a Non-Cancelable Commercial Equipment Lease Agreement in February of 2011 for a period of 48 months. In your complaint, you have indicated that, on March 11, 2015, you verbally...
requested to know the buyout amount on your account – which TimePayment representative, [redacted], informed you was $2,222.19 (at that time). You have asserted that [redacted] also assured you that your buyout amount could be satisfied by simply allowing your monthly automatic payments to continue being deducted from your bank account for another three (3) months following that conversation. Last, you have stated that, on June 9th, Lessee Relations Manager, [redacted], agreed to accept a reduced buyout amount of $1,111.10 in regard to your Lease Agreement – if paid by July 9th. However, TimePayment then (the next day) deducted your regular payment for the month of June (totaling $662.54) – which you now believe should be deducted from the $1,111.10 settlement amount that was agreed-to on the 9th. Unfortunately, our records do not support some of the information stated in your complaint. Our records indicate that the conversation between yourself and [redacted] took place on March 10, 2015 and that [redacted] informed you, at that time, that the buyout price that she provided to you was only valid for a period of 15 days. As further confirmation of this information, TimePayment mailed you a Buyout Letter (dated March 11, 2015) which informed you of the buyout amount on your account at that time ($2,222.19) and also stated: “IF YOU WANT TO BUYOUT YOUR LEASE, PLEASE SEND IN THIS AMOUNT WITHIN 15 DAYS OF THE DATE OF THIS LETTER. PLEASE MAKE SURE TO MARK YOUR CHECK CLEARLY WITH THE WORD ‘BUYOUT’, AND SEND THE CHECK ATTENTION ‘LESSEE-RELATIONS’.” I have attached a copy of this letter for your review. On November 4, 2014, 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 (10-Jan-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.” The information provided in the End of Lease term letter is also stated in section 5 (“End of Lease Term”) of the Lease Agreement that you signed. I have attached a copy of this letter, as well as the Lease Agreement, for your review.Our records indicate that your account automatically transferred over to “Month-To-Month Rental” (per the terms of the contract) on December 10, 2014 and you did not contact TimePayment again until three (3) months later (on March 10, 2015), when you called and spoke to [redacted]. Unfortunately, our records do not support your claim that any TimePayment representatives informed you that the buyout amount could be paid via monthly installments over three (3) months as [redacted]’s notes on your account (as well as the letter that was mailed to you the following day) indicate that the buyout quote was only valid for a period of fifteen (15) days. Further review of our records supports your statement that, on June 9th, [redacted] agreed to accept a settlement payment of $1,111.10 (due by July 9th). However, because your account was set-up on automatic payments, your payment due on June 10th (for $662.54) was already showing as having posted to your account on our end. [redacted] was under the impression that you were aware that your June payment had already processed, and that she was agreeing to settle the account for an additional amount of $1,111.10 (after that payment). You have argued that, because the payment of $662.54 did not show on your bank account until June 10th, that amount should be deducted from the $1,111.10 settlement amount that [redacted] agreed to accept on June 9th – leaving you with a balance due of $448.56. It is TimePayment’s position that all costs and fees have been billed to your account appropriately, and in accordance with the terms of the contract that you signed. We were under no obligation to offer a reduced buyout on your account, and did so only as a courtesy and in an effort to amicably resolve your dispute. With that said, we understand the confusion caused by the posting date of your June payment and are willing to apply your last payment of $662.54 to the $1,111.10 settlement balance that [redacted] quoted to you on June 9th. Your remaining balance owed to TimePayment is $448.56 – please pay this amount by July 9, 2015 to avoid any additional charges. Once received, we will consider your account to be paid in full.
We are sorry to hear that you are not satisfied with our response to your complaint. No additional arguments have been made, via your rebuttal, and TimePayment maintains our position as stated in our original response.