As previously stated, TimePayment’s only role is to collect the monthly alarm monitoring service fee for the duration of the contract. We do not provide the alarm monitoring service, nor do we have any involvement with the security equipment. If you are unable to get in contact with the vendor company which installed the equipment in your home, then you may wish to contact the alarm monitoring company for assistance in locating a servicing vendor in your area to assist with equipment issues. We apologize that we cannot be of further assistance in this matter.
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]
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 would like to apologize for any negative experience that you may have had with us, as we believe that customer service is of the utmost importance. Your complaint has been forwarded to the appropriate management team, for review. Next, we would like to explain that you currently...
have two (2) Consumer Equipment Lease Agreements with us. The first Agreement ([redacted]) was signed on July 11, 2017 and is for the leasing of (1) [redacted] A100 Bench and Pedals. Pursuant to box “C” (“Total Payments/Paper Billing Fee”) on page 1 of that Agreement, you have agreed to submit 57 monthly payments of $148.07, for a total of $8,439.99 to be paid by the end of the lease term. The second Agreement ([redacted]) was signed on August 3, 2017 and is for the leasing of (1) Used Custom [redacted] for [redacted] A100. Pursuant to box “C” (“Total Payments/Paper Billing Fee”) on page 1 of that Agreement, you have agreed to submit 57 monthly payments of $71.23, for a total of $4,060.11 to be paid by the end of the lease term. You were given ample time to review the Lease Agreements before signing them, and to elect not to proceed if you were not satisfied with the terms. After you reviewed and signed the Lease Agreements, TimePayment paid the vendor, [redacted] d/b/a [redacted], for the equipment. Immediately after each respective Lease Agreement commenced, TimePayment mailed you welcome letters, which summarized the lease terms, included copies of the Lease Agreements and urged you to contact us should the enclosed not be your understanding of the Agreements that you had entered into. At no time thereafter did you contact us to advise that the terms stated on the Lease Agreements were not what you had agreed-to. We apologize if you are now dissatisfied with the terms of the Lease Agreements, however we can find no evidence to suggest that these are not the terms that you agreed-to. Because the Lease Agreements have already commenced, the terms cannot be adjusted. We sincerely hope that our response has clarified the terms of your contracts. Please do not hesitate to contact us at our toll-free number, should you have any further questions or concerns.
TimePayment would like to take this opportunity to address your concerns and better explain the terms of the Non-Cancelable Commercial Equipment Lease Agreement (“Agreement”) that you have entered into with us. As stated in box “A” (“Schedule of Payments”) on page one (1) of the Agreement,...
you have agreed to submit a base monthly payment of $254.36 (plus applicable taxes and fees) for a period of 33 months. In reviewing your account, we have found that you are currently being charged a Loss or Destruction Waiver Fee (“L&D”), which we believe to be the “insurance” fee referenced in your complaint. You have been charged this fee in error, as the Waiver Fee does not apply to the type of equipment that you are leasing from us. Unfortunately, we are not able to close your account for the return of the equipment – however, to rectify the error, we have credited your account in the amount of $96.00 (the amount that you have paid in L&D Waiver Fees, to date), as well as voided all late/collection fees that were applied to the account. An additional credit will be granted for any of those fees which have already been paid. We apologize for this discrepancy - you will not be charged the L&D Waiver Fee, going forward. With the removal of the L&D Waiver Fee, your total monthly payment is $281.79 – this figure is comprised of the following: Base Monthly Payment: $254.36; Sales Tax: $15.26; Property Tax: $12.17. This figure does not include any statement/billing fees, collection fees, late/bounce fees, etc… Please be advised that your account is currently setup on statement billing, as opposed to automatic withdrawal. There is a monthly fee of $5.00 for accounts on statement billing. If you wish to have your account setup on automatic withdrawal, please contact our Customer Service Department at our toll-free number, or access your account via our online portal, to make changes. We sincerely hope that this response is satisfactory to you. Should you have any further questions or concerns related to the account, please do not hesitate to contact us.
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]
TimePayment Corp. has had the opportunity to review your most recent account with our company, and we would like to take this opportunity to address your concerns. First, we apologize that the TimePayment representative who was handling your account initially was not available to assist you this...
week. Please understand that the representative’s absence was not planned. To address your complaint related to the delay in commencing your Lease Agreement: our records indicate that TimePayment representatives continued to work diligently (in the absence of the primary account representative) to commence the contract as quickly as possible. Though the program that was promised to you initially was not available, TimePayment remained determined to find a way to provide you with the contract terms that you were requesting. We apologize for any delays which may have been caused by this process, or any miscommunications that may have occurred in regard to the program availability. Our records indicate that the details of your Lease Agreement have, since, been sorted-out and that you are satisfied with the final outcome. We sincerely hope that this matter has been remedied to your satisfaction, and we apologize for any inconvenience that may have been caused by this delay. Please do not hesitate to contact us directly, at our toll-free number, with any additional questions or concerns related to your account.
TimePayment’s Legal Resolutions Department received your complaint, filed with the Revdex.com, on June 3, 2015. We have had the opportunity to review your claim, as well as our file for the account referenced therein. In your complaint, you have asserted that the Rental Agreement that you signed with...
[redacted], LLC in September of 2013 consists of clauses promising “maintenance and repair services” as well as annual filter changes, at no additional cost to your company. You have claimed that [redacted] went out of business and, subsequently, has never changed the filter in the rented Wellsys Venus water unit, despite your [redacted] representative, [redacted]s’, assurance that it was included. Additionally, your complaint states: “…We demand service, maintenance and filter changes free of charge as originally agreed.”Please be advised that TimePayment Corp. and [redacted], LLC are two completely separate companies – we do not share employees, profits or anything else. TimePayment acted solely as a finance company (or “Assignee”) in this transaction, purchasing only the collection rights to your Rental Agreement from [redacted]. Prior to paying [redacted] for the collection rights to the Rental Agreement, TimePayment requested and received an executed Delivery & Acceptance Form, which was signed by you on September 11, 2013 (the date of delivery). Upon receipt of the signed D&A Form (assuring your satisfaction with the equipment), TimePayment purchased the rights to the Rental Agreement from [redacted] (pursuant to section 9, “Assignment”) and commenced the contract.Section 9 (“Assignment”) states, in part: “Vendor may sell, transfer or assign this Agreement without the Customer’s consent. In the event of any assignment by Vendor, assignee shall have all the rights, powers, privileges and remedies of Vendor set forth in this Agreement, but none of the obligations (including but not limited to any service or maintenance obligations).”We understand that the equipment vendor, [redacted], may have gone out of business and, thus, is not servicing the equipment as expected. Unfortunately, as the Assignee (and in accordance with the terms of the contract that you signed), TimePayment Corp. is not responsible for servicing or maintaining the equipment, or providing annual filter changes. As indicated in the contract, [redacted]’s failure to provide servicing or filters has no bearing on TimePayment’s right to collect the agreed-upon monthly rental fee for the water unit. If [redacted] has gone out of business, then you may wish to contact a third-party water equipment company in your area to service the equipment at your expense. As indicated in your complaint - as a courtesy, TimePayment previously provided you with the contact information for a company in your area ([redacted]), which would be able and willing to provide filter changes and service the equipment – however, fees may apply at the expense of Bijoux Image, Inc. We sincerely apologize that we cannot be of further assistance with your servicing needs. We encourage you to contact [redacted] for assistance with any service, supplies or maintenance that the Wellsys Venus water unit requires. Additionally, our records indicate that your account with TimePayment is currently in default – please contact our Customer Service Department at your earliest convenience to make payment arrangements.
TimePayment has had the opportunity to review your account, and your complaint as it relates to your contract. Our records indicate that you signed a Non-Cancelable Commercial Equipment Lease Agreement on December 5, 2011, agreeing to submit 48 monthly payments at a base rate of $138.90 (plus...
applicable taxes and fees). Your complaint states that you were told by [redacted] (a representative of the independent broker company, [redacted] Equipment Finance LLC) that the Lease Agreement included a $1.00 Buyout option at the end of the requisite lease term – which TimePayment has, since, informed you that it does not. You have further stated that you disagree with the Fair Market Value (“FMV”) of the equipment that has been quoted to you by TimePayment, and that you do not believe that you should be responsible for shipping costs in the event that you decide to return the equipment to TimePayment. You have further stated that the equipment’s retail value at the time of purchase was only $1,800.00.First, please be advised that TimePayment Corp. and [redacted] Equipment Finance are two completely separate companies – we do not share employees, profits or anything else. While it is entirely possible that [redacted] Equipment Finance may have offered a $1.00 Buyout option on a contract with their company, the Lease Agreement that you ultimately signed with TimePayment for (1) Conde Sublimation System did not include that option. TimePayment’s End of Lease Term options are clearly stated on page 2, section 5 (“End of Lease Term”). We ask that you refer to the following sections of the Lease Agreement regarding TimePayment’s role in this transaction:• Top left corner, page 1: “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.”• Agency Disclaimer: “NEITHER SUPPLIER NOR ANY SALESPERSON IS AN AGENT OF LESSOR NOR ARE THEY AUTHORIZED TO WAIVE OR ALTER THE TERMS OF THIS LEASE. THEIR REPRESENTATIONS SHALL IN NO WAY AFFECT LESSEE OR LESSOR’S RIGHTS AND OBLIGATIONS AS HEREIN SET FORTH.”Furthermore, the FMV of the equipment does not refer to the retail value that was paid prior to the lease commencement. As described in section 5 of the Lease Agreement, the FMV is an amount “not to exceed 10% of the aggregate lease payments (i.e. the total of the base monthly payment due during the entire term of the lease).” The FMV of the equipment that you are leasing is $679.22. The End of Lease Term options, as stated in the Lease, further allow you to return the equipment to TimePayment if you do not wish to pay the FMV to keep the equipment at the end of the requisite lease term. Failure to either pay the FMV or return the equipment will result in your account automatically transferring to “month-to-month rental status”, causing monthly invoices to continue to generate. TimePayment does not pay shipping costs for lessees to return the equipment, nor does the Lease Agreement indicate that we do. Currently, you have two (2) regular monthly payments of $161.90 remaining on your requisite lease term. You have indicated that you do wish to keep the equipment at the conclusion of the lease term, but that you do not wish to pay the FMV of $679.22. TimePayment is amenable to negotiating a reduced FMV – please contact me directly at [redacted]@timepaymentcorp.com to discuss further.
As TimePayment previously informed you, in our response to your prior Revdex.com complaint (no. [redacted]), we cannot locate any accounts for you in our database. Records reflect that we received two (2) separate credit applications for your husband, [redacted], on March 26th and July 6th. Both...
applications were cancelled, and are not eligible for commencement. Neither of the applications has had any activity since July 6th. TimePayment did not purchase any equipment on your husband’s behalf, nor did we commence any Equipment Lease Agreements in his name. As stated in our response to you, on July 6th, we cannot locate any active accounts for you or your husband, and TimePayment has not withdrawn any funds from your bank account, nor received any payments in connection with the aforementioned applications. We have no knowledge of any such transaction. You may wish to contact [redacted] if you believe that the $1,900 deduction is related to the purchase of a water heater.
TimePayment Corp. is in receipt of your complaint related to Non-Cancelable Commercial Equipment Lease Agreement No. [redacted] for [redacted]. We have had the opportunity to review your file, as it relates to your complaint. Our findings and feedback are listed below for your review. You...
have stated that a man (whose name has not been specified), representing an unspecified business, came to your business and attempted to convince you to upgrade your existing security system. You claim that, when you rejected his offer, the man disabled your security monitoring services. You then uninstalled the equipment and entered into an Agreement with a new security company.Please be advised that TimePayment Corp. is not associated with any door-to-door sales representatives, nor do we have anything to do with your alarm monitoring services or functionality. You signed a Non-Cancelable Commercial Equipment Lease Agreement on July 20, 2011 for a term of 60 months, at a base monthly rate of $39.95. TimePayment’s only role in this transaction was that of a finance lessor, as it is more thoroughly described under UCC, Article 2A. At your request, we purchased an Ademco Lynx Security System from a company called Up Link Security to lease back to you for the aforementioned lease term.TimePayment Corp. bills you monthly for the equipment that is listed on the Lease, and not for any additional services or items. We do not provide alarm monitoring services or equipment-servicing of any kind. We ask that you refer to the following sections of the Lease Agreement (copy attached) for a better understanding of the terms:• Top left corner, page 1: “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.”• Agency Disclaimer: “NEITHER SUPPLIER NOR ANY SALESPERSON IS AN AGENT OF LESSOR NOR ARE THEY AUTHORIZED TO WAIVE OR ALTER THE TERMS OF THIS LEASE. THEIR REPRESENTATIONS SHALL IN NO WAY AFFECT LESSEE OR LESSOR’S RIGHTS AND OBLIGATIONS AS HEREIN SET FORTH.”• Maintenance of Equipment: “I agree to maintain the Equipment in good operating and physical condition at my expense, ordinary wear and tear excepted.” • Disclaimer of Warranties: “I understand you have not given me either express or implied warranties for the Equipment I am leasing or other services, access and/or use with the Equipment. You have specifically disclaimed any implied warranties of merchantability and/or fitness for any particular use. You will have no liability for indirect, consequential or special damages. I have chosen this specific Equipment based on my own judgment and expressly disclaim any reliance upon any statements or representations made by you.” • Equipment Servicing: “I understand that no servicing of any kind is provided by you. I am to look to the Equipment Vendor/Supplier for any claims, servicing or warranties if any, and I specifically and unconditionally waive any claims, present or future, against you. Any failure of equipment, service or misoperation of any kind, whatsoever, is no basis for non-fulfillment of my obligations under the Lease.”If you allowed the man referenced in your complaint to alter your security system in some way, causing it not to function, you may wish to contact that company regarding this matter. If you did not allow anyone to alter your security system, yet your alarm monitoring services have stopped functioning, you may wish to contact your alarm monitoring company for advice. It is TimePayment’s position that you signed a Non-Cancelable Commercial Equipment Lease Agreement for a term of 60 months, with 11 monthly payments remaining. For the reasons outlined in this response, we are not able to issue a refund of any of the payments received on this account. If you wish to return the equipment, as indicated in your complaint, it may be shipped to [redacted] – however, this will not close your account, or cancel-out the remaining obligations. We apologize that we cannot be of further assistance in this matter, and we encourage you to reach out to the sales representative referenced in your complaint.
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].
[this is the letter I received yesterday. No real investigation was done, and no resolve was made. I also had to make a payment over the phone with [redacted] so they would not report to the credit bureaus. She basically informed me that I read the contract and it was my fault. Still paying for equipment I haven't had for months now. She also informed me that she had no idea where my equipment came from and that there should have never been a third party vendor, and that's still my fault. I have still no clue where to go from here, was told to contact quickspark who gave me the loan, which I have and was told to contact time payment which I have 5 million times.
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]
We completely understand the roll TimePayment has in this contract. We also understand that the installer, [redacted] Securities of the SE, sold the contract to TimePayment. We have asked repeatedly to have TimePayment assist us in contacting not only [redacted] Securities, but any other third party to have the equipment fixed. Since our equipment has not worked for some time now, and the monitoring company is not actually monitoring said equipment because of it not working, we have contacted TimePayment several times only for assistance. We believe [redacted] Securities of the SE is no longer in business. We have tried to have a third party come out, but because they did not install our equipment, they would not work on it. The third party only would fix their own equipment and could only suggest getting into a new contract with their companies. Our hands are tied and we have made every attempt to work with TimePayment only to be ignored in our efforts time and time again. All we have ever asked is to assist us in finding someone that already works with TimePayment, that wold be able to fix our equipment. Each time we were told TimePayment would call back with some assistance, we would not get that call and the process would start over again. We have been working on this matter since April, 2017.
Regards,
[redacted]
TimePayment Corp. has had the opportunity to review your account with us, and we would first liked to apologize for any inconvenience. The Non-Cancelable Commercial Equipment Lease Agreement that you entered into with us in January of 2014 included a Purchase Option Rider, which offered you a $1.00...
buyout at the conclusion of the initial lease term. TimePayment received your buyout payment of $1.06 on April 25, 2016 and notified you, via email, that your payment obligations under the Lease Agreement had been satisfied, and the account would be closed. A system glitch caused additional notices for a balance of $1.06 to be mailed to you. Please be advised that the notices were mailed automatically, in error, and there are no further payments due on your account. TimePayment is not willfully attempting to collect any additional amounts from you. Your account was paid-in-full on April 25th, and closed thereafter. Please disregard any additional mailed notices. Thank you for giving us the opportunity to review your account and respond accordingly.
TimePayment is in receipt of your complaint and we would like to take this opportunity to better explain our role in the transaction, as well as the terms of the Agreement that you signed. As an initial matter, please be advised that no representatives of TimePayment Corp. have consented to...
being recorded. Our records do not indicate that any of our representatives have been informed that they were being recorded, and have not provided authorization for the telephone calls to be recorded. On October 2, 2014, you entered into a Consumer Equipment Lease (“Lease”) with TimePayment Corp. for the leasing of security equipment. TimePayment’s role in the transaction was solely that of a finance lessor. After receiving your signed Lease and Delivery and Acceptance Form, TimePayment paid the equipment vendor ([redacted], LLC) for the security equipment and commenced the Lease. The Delivery and Acceptance Form that you signed, stated that the equipment had been delivered as you requested, that you had inspected the equipment and that it was in good working condition. Pursuant to the terms of the Lease, no alarm monitoring or equipment-related services are included in the monthly payment that you make to TimePayment in accordance with the Lease. Please refer to the “Warranties” section, located on page 1 of the Agreement, which specifically states that TimePayment has made no express or implied warranties on the equipment, and services, and/or use of the equipment. To clarify: TimePayment did not pay for any services on your behalf. TimePayment purchased security equipment, on your behalf, in order to lease that equipment back to you for a mutually-agreed-upon monthly amount. We do not play any role in the alarm monitoring service that you have received, and did not instruct your monitoring company to stop monitoring your security system. If you are experiencing problems with the equipment or monitoring services, we encourage you to contact the original equipment vendor, or another qualified professional in your area, for assistance. There may be costs and fees associated with repairing the problem. The reason that you were advised to speak with the Legal Department when you called to submit a payment was that TimePayment was informed, in July, that you may have retained an attorney to represent you in this matter. We have, since, received confirmation that the attorney is not representing you – subsequently, you may now speak with our Lessee Relations Department about your account and payments. To address your complaint related to the slight increase in your monthly payment – please note that your current monthly payment is comprised of several factors. Your base monthly payment is $50.99, the current sales tax is $3.57, the current property tax is $1.49 – totaling $56.05. The increase took effect in October of 2015, and was the result of increased property tax, which TimePayment has no control over. We sincerely apologize for any misunderstanding which may have occurred – however, it remains TimePayment’s position that the contract clearly identifies itself as an Equipment Lease, and does not in any way imply that alarm monitoring services are included. If the equipment vendor agreed to provide you with free alarm monitoring services, or to bill you for alarm monitoring services, that is not a subject that TimePayment would have any knowledge on, and would not be able to comment. We encourage you to follow-up with your alarm monitoring company regarding those services and/or balances owed.
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] TO Revdex.com:I am unable to read the response from Time-Payment to determine if I should accept or not. If they are agreeing to deduct all the monies over the $472.67 payments each I have been paying and not to try and charge me with any further fees that I do not owe, than I am willing to accept. Otherwise, I don't know what the resolution is for now.Sincerely,[redacted]
In response to your complaint, TimePayment would like to take this opportunity to better explain the terms of the contract that you’ve entered into with us, in order to clarify any misunderstandings. TimePayment’s records indicate that you entered into a Non-Cancelable Commercial Equipment...
Lease Agreement with us on May 10, 2013, for the leasing of CCTV equipment. The Agreement, for which you are listed as a personal guarantor, is for a period of 60 months, at base amount of $197.00 per month. There is nothing in this Agreement which indicates that the contract can be cancelled before all 60 monthly payments have been received. A copy of the Agreement is attached, for your review. TimePayment first received your credit application on May 1, 2013, from the independent equipment vendor, [redacted] Inc. After the application was approved, and TimePayment had received the signed Agreement and Delivery & Acceptance Form (confirming that you had received the equipment and were satisfied with it), we paid [redacted] for the equipment and commenced the Agreement. Please be advised that TimePayment’s role in this transaction was solely that of a finance lessor, as is more thoroughly described under UCC 2A. TimePayment and [redacted] Inc. are two completely separate companies, as we do not share employees, profits, offices or anything else. The status of [redacted]’s business operations is irrelevant to the terms of the Agreement that you have with TimePayment. Please refer to the Agency Disclaimer, on page 2 of the Agreement. In accordance with the terms of the Agreement, you have three (3) options at the end of the Lease Term – you may (1) return the equipment to TimePayment, (2) keep the equipment and extend the Agreement on a month-to-month basis under the existing terms, or (3) purchase the equipment from TimePayment for the Fair Market Value. While we understand that you elected to return the equipment prior to the end of the Lease Term – this action does not void or nullify your remaining obligations under the Agreement. To date, TimePayment has received 47 of the 60 requisite Lease Payments – there are 13 payments remaining on the account. If you would like to pay the account off early, to have it closed, then please contact our Lessee Relations Department for a buyout quote. Our records reflect that you recently contacted our Lessee Relations Department regarding a payment of $211.76 which was withdrawn from your bank account, but was not being reflected on your TimePayment account. Upon receipt of the supporting documentation that you have provided, TimePayment was able to locate the payment and it has been applied to your account. Please be advised that your account is current, with your next payment due on April 10, 2017. We sincerely hope that this response clarifies the terms of the Agreement, and the remaining obligations. Please do not hesitate to contact us with any further questions or concerns.
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]
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 July 23, 2015, when it was electronically submitted to us by the independent broker company, [redacted]. The contract that you signed on July 30, 2015 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 August 3, 2015 (after the Lease Agreement had already been signed), when we conducted a recorded verification telephone call with you. During that telephone call, you confirmed that you understood that you had signed a Non-Cancelable Commercial Equipment Lease Agreement for a base amount for $160.34 per month, for 36 months. At no time during that telephone call (or at any other time, prior to the date of your Revdex.com complaint) did you indicate that you believed the contract to be a loan or purchase agreement, or that you were dissatisfied with its terms. As the Lessor, TimePayment is the owner of the equipment that is subject to the Agreement. The amount that TimePayment paid for the equipment is not the sole determining factor in deciding the base monthly lease payment. Your base monthly lease payment is an amount determined using several factors, including your credit approval rating and desired contract term. If you were dissatisfied with the base monthly payment amount, you had the opportunity to cancel the transaction prior to its commencement. Our records indicate that you reviewed the Agreement, signed it, completed the recorded verification telephone call, accepted the equipment and commenced the Agreement without any dispute or hesitation. If you wish to pay-off the Lease Agreement, the current buyout is $5,244.30. There are 33 payments remaining on the initial lease term. Should you have any questions related to billing, payments or fees, please do not hesitate to contact our Customer Service Department at our toll-free number.
Revdex.com:There's a few but it would not give me a option. Lets start with signatures on these documents. These signatures have for one been altered, as well as are not my signature. It looks like an attempt was made. Please explain.
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].
As previously stated, TimePayment’s only role is to collect the monthly alarm monitoring service fee for the duration of the contract. We do not provide the alarm monitoring service, nor do we have any involvement with the security equipment. If you are unable to get in contact with the vendor company which installed the equipment in your home, then you may wish to contact the alarm monitoring company for assistance in locating a servicing vendor in your area to assist with equipment issues. We apologize that we cannot be of further assistance in this matter.
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]
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 would like to apologize for any negative experience that you may have had with us, as we believe that customer service is of the utmost importance. Your complaint has been forwarded to the appropriate management team, for review. Next, we would like to explain that you currently...
have two (2) Consumer Equipment Lease Agreements with us. The first Agreement ([redacted]) was signed on July 11, 2017 and is for the leasing of (1) [redacted] A100 Bench and Pedals. Pursuant to box “C” (“Total Payments/Paper Billing Fee”) on page 1 of that Agreement, you have agreed to submit 57 monthly payments of $148.07, for a total of $8,439.99 to be paid by the end of the lease term. The second Agreement ([redacted]) was signed on August 3, 2017 and is for the leasing of (1) Used Custom [redacted] for [redacted] A100. Pursuant to box “C” (“Total Payments/Paper Billing Fee”) on page 1 of that Agreement, you have agreed to submit 57 monthly payments of $71.23, for a total of $4,060.11 to be paid by the end of the lease term. You were given ample time to review the Lease Agreements before signing them, and to elect not to proceed if you were not satisfied with the terms. After you reviewed and signed the Lease Agreements, TimePayment paid the vendor, [redacted] d/b/a [redacted], for the equipment. Immediately after each respective Lease Agreement commenced, TimePayment mailed you welcome letters, which summarized the lease terms, included copies of the Lease Agreements and urged you to contact us should the enclosed not be your understanding of the Agreements that you had entered into. At no time thereafter did you contact us to advise that the terms stated on the Lease Agreements were not what you had agreed-to. We apologize if you are now dissatisfied with the terms of the Lease Agreements, however we can find no evidence to suggest that these are not the terms that you agreed-to. Because the Lease Agreements have already commenced, the terms cannot be adjusted. We sincerely hope that our response has clarified the terms of your contracts. Please do not hesitate to contact us at our toll-free number, should you have any further questions or concerns.
TimePayment would like to take this opportunity to address your concerns and better explain the terms of the Non-Cancelable Commercial Equipment Lease Agreement (“Agreement”) that you have entered into with us. As stated in box “A” (“Schedule of Payments”) on page one (1) of the Agreement,...
you have agreed to submit a base monthly payment of $254.36 (plus applicable taxes and fees) for a period of 33 months. In reviewing your account, we have found that you are currently being charged a Loss or Destruction Waiver Fee (“L&D”), which we believe to be the “insurance” fee referenced in your complaint. You have been charged this fee in error, as the Waiver Fee does not apply to the type of equipment that you are leasing from us. Unfortunately, we are not able to close your account for the return of the equipment – however, to rectify the error, we have credited your account in the amount of $96.00 (the amount that you have paid in L&D Waiver Fees, to date), as well as voided all late/collection fees that were applied to the account. An additional credit will be granted for any of those fees which have already been paid. We apologize for this discrepancy - you will not be charged the L&D Waiver Fee, going forward. With the removal of the L&D Waiver Fee, your total monthly payment is $281.79 – this figure is comprised of the following: Base Monthly Payment: $254.36; Sales Tax: $15.26; Property Tax: $12.17. This figure does not include any statement/billing fees, collection fees, late/bounce fees, etc… Please be advised that your account is currently setup on statement billing, as opposed to automatic withdrawal. There is a monthly fee of $5.00 for accounts on statement billing. If you wish to have your account setup on automatic withdrawal, please contact our Customer Service Department at our toll-free number, or access your account via our online portal, to make changes. We sincerely hope that this response is satisfactory to you. Should you have any further questions or concerns related to the account, please do not hesitate to contact us.
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]
TimePayment Corp. has had the opportunity to review your most recent account with our company, and we would like to take this opportunity to address your concerns. First, we apologize that the TimePayment representative who was handling your account initially was not available to assist you this...
week. Please understand that the representative’s absence was not planned. To address your complaint related to the delay in commencing your Lease Agreement: our records indicate that TimePayment representatives continued to work diligently (in the absence of the primary account representative) to commence the contract as quickly as possible. Though the program that was promised to you initially was not available, TimePayment remained determined to find a way to provide you with the contract terms that you were requesting. We apologize for any delays which may have been caused by this process, or any miscommunications that may have occurred in regard to the program availability. Our records indicate that the details of your Lease Agreement have, since, been sorted-out and that you are satisfied with the final outcome. We sincerely hope that this matter has been remedied to your satisfaction, and we apologize for any inconvenience that may have been caused by this delay. Please do not hesitate to contact us directly, at our toll-free number, with any additional questions or concerns related to your account.
TimePayment’s Legal Resolutions Department received your complaint, filed with the Revdex.com, on June 3, 2015. We have had the opportunity to review your claim, as well as our file for the account referenced therein. In your complaint, you have asserted that the Rental Agreement that you signed with...
[redacted], LLC in September of 2013 consists of clauses promising “maintenance and repair services” as well as annual filter changes, at no additional cost to your company. You have claimed that [redacted] went out of business and, subsequently, has never changed the filter in the rented Wellsys Venus water unit, despite your [redacted] representative, [redacted]s’, assurance that it was included. Additionally, your complaint states: “…We demand service, maintenance and filter changes free of charge as originally agreed.”Please be advised that TimePayment Corp. and [redacted], LLC are two completely separate companies – we do not share employees, profits or anything else. TimePayment acted solely as a finance company (or “Assignee”) in this transaction, purchasing only the collection rights to your Rental Agreement from [redacted]. Prior to paying [redacted] for the collection rights to the Rental Agreement, TimePayment requested and received an executed Delivery & Acceptance Form, which was signed by you on September 11, 2013 (the date of delivery). Upon receipt of the signed D&A Form (assuring your satisfaction with the equipment), TimePayment purchased the rights to the Rental Agreement from [redacted] (pursuant to section 9, “Assignment”) and commenced the contract.Section 9 (“Assignment”) states, in part: “Vendor may sell, transfer or assign this Agreement without the Customer’s consent. In the event of any assignment by Vendor, assignee shall have all the rights, powers, privileges and remedies of Vendor set forth in this Agreement, but none of the obligations (including but not limited to any service or maintenance obligations).”We understand that the equipment vendor, [redacted], may have gone out of business and, thus, is not servicing the equipment as expected. Unfortunately, as the Assignee (and in accordance with the terms of the contract that you signed), TimePayment Corp. is not responsible for servicing or maintaining the equipment, or providing annual filter changes. As indicated in the contract, [redacted]’s failure to provide servicing or filters has no bearing on TimePayment’s right to collect the agreed-upon monthly rental fee for the water unit. If [redacted] has gone out of business, then you may wish to contact a third-party water equipment company in your area to service the equipment at your expense. As indicated in your complaint - as a courtesy, TimePayment previously provided you with the contact information for a company in your area ([redacted]), which would be able and willing to provide filter changes and service the equipment – however, fees may apply at the expense of Bijoux Image, Inc. We sincerely apologize that we cannot be of further assistance with your servicing needs. We encourage you to contact [redacted] for assistance with any service, supplies or maintenance that the Wellsys Venus water unit requires. Additionally, our records indicate that your account with TimePayment is currently in default – please contact our Customer Service Department at your earliest convenience to make payment arrangements.
TimePayment has had the opportunity to review your account, and your complaint as it relates to your contract. Our records indicate that you signed a Non-Cancelable Commercial Equipment Lease Agreement on December 5, 2011, agreeing to submit 48 monthly payments at a base rate of $138.90 (plus...
applicable taxes and fees). Your complaint states that you were told by [redacted] (a representative of the independent broker company, [redacted] Equipment Finance LLC) that the Lease Agreement included a $1.00 Buyout option at the end of the requisite lease term – which TimePayment has, since, informed you that it does not. You have further stated that you disagree with the Fair Market Value (“FMV”) of the equipment that has been quoted to you by TimePayment, and that you do not believe that you should be responsible for shipping costs in the event that you decide to return the equipment to TimePayment. You have further stated that the equipment’s retail value at the time of purchase was only $1,800.00.First, please be advised that TimePayment Corp. and [redacted] Equipment Finance are two completely separate companies – we do not share employees, profits or anything else. While it is entirely possible that [redacted] Equipment Finance may have offered a $1.00 Buyout option on a contract with their company, the Lease Agreement that you ultimately signed with TimePayment for (1) Conde Sublimation System did not include that option. TimePayment’s End of Lease Term options are clearly stated on page 2, section 5 (“End of Lease Term”). We ask that you refer to the following sections of the Lease Agreement regarding TimePayment’s role in this transaction:• Top left corner, page 1: “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.”• Agency Disclaimer: “NEITHER SUPPLIER NOR ANY SALESPERSON IS AN AGENT OF LESSOR NOR ARE THEY AUTHORIZED TO WAIVE OR ALTER THE TERMS OF THIS LEASE. THEIR REPRESENTATIONS SHALL IN NO WAY AFFECT LESSEE OR LESSOR’S RIGHTS AND OBLIGATIONS AS HEREIN SET FORTH.”Furthermore, the FMV of the equipment does not refer to the retail value that was paid prior to the lease commencement. As described in section 5 of the Lease Agreement, the FMV is an amount “not to exceed 10% of the aggregate lease payments (i.e. the total of the base monthly payment due during the entire term of the lease).” The FMV of the equipment that you are leasing is $679.22. The End of Lease Term options, as stated in the Lease, further allow you to return the equipment to TimePayment if you do not wish to pay the FMV to keep the equipment at the end of the requisite lease term. Failure to either pay the FMV or return the equipment will result in your account automatically transferring to “month-to-month rental status”, causing monthly invoices to continue to generate. TimePayment does not pay shipping costs for lessees to return the equipment, nor does the Lease Agreement indicate that we do. Currently, you have two (2) regular monthly payments of $161.90 remaining on your requisite lease term. You have indicated that you do wish to keep the equipment at the conclusion of the lease term, but that you do not wish to pay the FMV of $679.22. TimePayment is amenable to negotiating a reduced FMV – please contact me directly at [redacted]@timepaymentcorp.com to discuss further.
As TimePayment previously informed you, in our response to your prior Revdex.com complaint (no. [redacted]), we cannot locate any accounts for you in our database. Records reflect that we received two (2) separate credit applications for your husband, [redacted], on March 26th and July 6th. Both...
applications were cancelled, and are not eligible for commencement. Neither of the applications has had any activity since July 6th. TimePayment did not purchase any equipment on your husband’s behalf, nor did we commence any Equipment Lease Agreements in his name. As stated in our response to you, on July 6th, we cannot locate any active accounts for you or your husband, and TimePayment has not withdrawn any funds from your bank account, nor received any payments in connection with the aforementioned applications. We have no knowledge of any such transaction. You may wish to contact [redacted] if you believe that the $1,900 deduction is related to the purchase of a water heater.
TimePayment Corp. is in receipt of your complaint related to Non-Cancelable Commercial Equipment Lease Agreement No. [redacted] for [redacted]. We have had the opportunity to review your file, as it relates to your complaint. Our findings and feedback are listed below for your review. You...
have stated that a man (whose name has not been specified), representing an unspecified business, came to your business and attempted to convince you to upgrade your existing security system. You claim that, when you rejected his offer, the man disabled your security monitoring services. You then uninstalled the equipment and entered into an Agreement with a new security company.Please be advised that TimePayment Corp. is not associated with any door-to-door sales representatives, nor do we have anything to do with your alarm monitoring services or functionality. You signed a Non-Cancelable Commercial Equipment Lease Agreement on July 20, 2011 for a term of 60 months, at a base monthly rate of $39.95. TimePayment’s only role in this transaction was that of a finance lessor, as it is more thoroughly described under UCC, Article 2A. At your request, we purchased an Ademco Lynx Security System from a company called Up Link Security to lease back to you for the aforementioned lease term.TimePayment Corp. bills you monthly for the equipment that is listed on the Lease, and not for any additional services or items. We do not provide alarm monitoring services or equipment-servicing of any kind. We ask that you refer to the following sections of the Lease Agreement (copy attached) for a better understanding of the terms:• Top left corner, page 1: “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.”• Agency Disclaimer: “NEITHER SUPPLIER NOR ANY SALESPERSON IS AN AGENT OF LESSOR NOR ARE THEY AUTHORIZED TO WAIVE OR ALTER THE TERMS OF THIS LEASE. THEIR REPRESENTATIONS SHALL IN NO WAY AFFECT LESSEE OR LESSOR’S RIGHTS AND OBLIGATIONS AS HEREIN SET FORTH.”• Maintenance of Equipment: “I agree to maintain the Equipment in good operating and physical condition at my expense, ordinary wear and tear excepted.” • Disclaimer of Warranties: “I understand you have not given me either express or implied warranties for the Equipment I am leasing or other services, access and/or use with the Equipment. You have specifically disclaimed any implied warranties of merchantability and/or fitness for any particular use. You will have no liability for indirect, consequential or special damages. I have chosen this specific Equipment based on my own judgment and expressly disclaim any reliance upon any statements or representations made by you.” • Equipment Servicing: “I understand that no servicing of any kind is provided by you. I am to look to the Equipment Vendor/Supplier for any claims, servicing or warranties if any, and I specifically and unconditionally waive any claims, present or future, against you. Any failure of equipment, service or misoperation of any kind, whatsoever, is no basis for non-fulfillment of my obligations under the Lease.”If you allowed the man referenced in your complaint to alter your security system in some way, causing it not to function, you may wish to contact that company regarding this matter. If you did not allow anyone to alter your security system, yet your alarm monitoring services have stopped functioning, you may wish to contact your alarm monitoring company for advice. It is TimePayment’s position that you signed a Non-Cancelable Commercial Equipment Lease Agreement for a term of 60 months, with 11 monthly payments remaining. For the reasons outlined in this response, we are not able to issue a refund of any of the payments received on this account. If you wish to return the equipment, as indicated in your complaint, it may be shipped to [redacted] – however, this will not close your account, or cancel-out the remaining obligations. We apologize that we cannot be of further assistance in this matter, and we encourage you to reach out to the sales representative referenced in your complaint.
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].
[this is the letter I received yesterday. No real investigation was done, and no resolve was made. I also had to make a payment over the phone with [redacted] so they would not report to the credit bureaus. She basically informed me that I read the contract and it was my fault. Still paying for equipment I haven't had for months now. She also informed me that she had no idea where my equipment came from and that there should have never been a third party vendor, and that's still my fault. I have still no clue where to go from here, was told to contact quickspark who gave me the loan, which I have and was told to contact time payment which I have 5 million times.
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]
We completely understand the roll TimePayment has in this contract. We also understand that the installer, [redacted] Securities of the SE, sold the contract to TimePayment. We have asked repeatedly to have TimePayment assist us in contacting not only [redacted] Securities, but any other third party to have the equipment fixed. Since our equipment has not worked for some time now, and the monitoring company is not actually monitoring said equipment because of it not working, we have contacted TimePayment several times only for assistance. We believe [redacted] Securities of the SE is no longer in business. We have tried to have a third party come out, but because they did not install our equipment, they would not work on it. The third party only would fix their own equipment and could only suggest getting into a new contract with their companies. Our hands are tied and we have made every attempt to work with TimePayment only to be ignored in our efforts time and time again. All we have ever asked is to assist us in finding someone that already works with TimePayment, that wold be able to fix our equipment. Each time we were told TimePayment would call back with some assistance, we would not get that call and the process would start over again. We have been working on this matter since April, 2017.
Regards,
[redacted]
TimePayment Corp. has had the opportunity to review your account with us, and we would first liked to apologize for any inconvenience. The Non-Cancelable Commercial Equipment Lease Agreement that you entered into with us in January of 2014 included a Purchase Option Rider, which offered you a $1.00...
buyout at the conclusion of the initial lease term. TimePayment received your buyout payment of $1.06 on April 25, 2016 and notified you, via email, that your payment obligations under the Lease Agreement had been satisfied, and the account would be closed. A system glitch caused additional notices for a balance of $1.06 to be mailed to you. Please be advised that the notices were mailed automatically, in error, and there are no further payments due on your account. TimePayment is not willfully attempting to collect any additional amounts from you. Your account was paid-in-full on April 25th, and closed thereafter. Please disregard any additional mailed notices. Thank you for giving us the opportunity to review your account and respond accordingly.
TimePayment is in receipt of your complaint and we would like to take this opportunity to better explain our role in the transaction, as well as the terms of the Agreement that you signed. As an initial matter, please be advised that no representatives of TimePayment Corp. have consented to...
being recorded. Our records do not indicate that any of our representatives have been informed that they were being recorded, and have not provided authorization for the telephone calls to be recorded. On October 2, 2014, you entered into a Consumer Equipment Lease (“Lease”) with TimePayment Corp. for the leasing of security equipment. TimePayment’s role in the transaction was solely that of a finance lessor. After receiving your signed Lease and Delivery and Acceptance Form, TimePayment paid the equipment vendor ([redacted], LLC) for the security equipment and commenced the Lease. The Delivery and Acceptance Form that you signed, stated that the equipment had been delivered as you requested, that you had inspected the equipment and that it was in good working condition. Pursuant to the terms of the Lease, no alarm monitoring or equipment-related services are included in the monthly payment that you make to TimePayment in accordance with the Lease. Please refer to the “Warranties” section, located on page 1 of the Agreement, which specifically states that TimePayment has made no express or implied warranties on the equipment, and services, and/or use of the equipment. To clarify: TimePayment did not pay for any services on your behalf. TimePayment purchased security equipment, on your behalf, in order to lease that equipment back to you for a mutually-agreed-upon monthly amount. We do not play any role in the alarm monitoring service that you have received, and did not instruct your monitoring company to stop monitoring your security system. If you are experiencing problems with the equipment or monitoring services, we encourage you to contact the original equipment vendor, or another qualified professional in your area, for assistance. There may be costs and fees associated with repairing the problem. The reason that you were advised to speak with the Legal Department when you called to submit a payment was that TimePayment was informed, in July, that you may have retained an attorney to represent you in this matter. We have, since, received confirmation that the attorney is not representing you – subsequently, you may now speak with our Lessee Relations Department about your account and payments. To address your complaint related to the slight increase in your monthly payment – please note that your current monthly payment is comprised of several factors. Your base monthly payment is $50.99, the current sales tax is $3.57, the current property tax is $1.49 – totaling $56.05. The increase took effect in October of 2015, and was the result of increased property tax, which TimePayment has no control over. We sincerely apologize for any misunderstanding which may have occurred – however, it remains TimePayment’s position that the contract clearly identifies itself as an Equipment Lease, and does not in any way imply that alarm monitoring services are included. If the equipment vendor agreed to provide you with free alarm monitoring services, or to bill you for alarm monitoring services, that is not a subject that TimePayment would have any knowledge on, and would not be able to comment. We encourage you to follow-up with your alarm monitoring company regarding those services and/or balances owed.
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] TO Revdex.com:I am unable to read the response from Time-Payment to determine if I should accept or not. If they are agreeing to deduct all the monies over the $472.67 payments each I have been paying and not to try and charge me with any further fees that I do not owe, than I am willing to accept. Otherwise, I don't know what the resolution is for now.Sincerely,[redacted]
In response to your complaint, TimePayment would like to take this opportunity to better explain the terms of the contract that you’ve entered into with us, in order to clarify any misunderstandings. TimePayment’s records indicate that you entered into a Non-Cancelable Commercial Equipment...
Lease Agreement with us on May 10, 2013, for the leasing of CCTV equipment. The Agreement, for which you are listed as a personal guarantor, is for a period of 60 months, at base amount of $197.00 per month. There is nothing in this Agreement which indicates that the contract can be cancelled before all 60 monthly payments have been received. A copy of the Agreement is attached, for your review. TimePayment first received your credit application on May 1, 2013, from the independent equipment vendor, [redacted] Inc. After the application was approved, and TimePayment had received the signed Agreement and Delivery & Acceptance Form (confirming that you had received the equipment and were satisfied with it), we paid [redacted] for the equipment and commenced the Agreement. Please be advised that TimePayment’s role in this transaction was solely that of a finance lessor, as is more thoroughly described under UCC 2A. TimePayment and [redacted] Inc. are two completely separate companies, as we do not share employees, profits, offices or anything else. The status of [redacted]’s business operations is irrelevant to the terms of the Agreement that you have with TimePayment. Please refer to the Agency Disclaimer, on page 2 of the Agreement. In accordance with the terms of the Agreement, you have three (3) options at the end of the Lease Term – you may (1) return the equipment to TimePayment, (2) keep the equipment and extend the Agreement on a month-to-month basis under the existing terms, or (3) purchase the equipment from TimePayment for the Fair Market Value. While we understand that you elected to return the equipment prior to the end of the Lease Term – this action does not void or nullify your remaining obligations under the Agreement. To date, TimePayment has received 47 of the 60 requisite Lease Payments – there are 13 payments remaining on the account. If you would like to pay the account off early, to have it closed, then please contact our Lessee Relations Department for a buyout quote. Our records reflect that you recently contacted our Lessee Relations Department regarding a payment of $211.76 which was withdrawn from your bank account, but was not being reflected on your TimePayment account. Upon receipt of the supporting documentation that you have provided, TimePayment was able to locate the payment and it has been applied to your account. Please be advised that your account is current, with your next payment due on April 10, 2017. We sincerely hope that this response clarifies the terms of the Agreement, and the remaining obligations. Please do not hesitate to contact us with any further questions or concerns.
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]
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 July 23, 2015, when it was electronically submitted to us by the independent broker company, [redacted]. The contract that you signed on July 30, 2015 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 August 3, 2015 (after the Lease Agreement had already been signed), when we conducted a recorded verification telephone call with you. During that telephone call, you confirmed that you understood that you had signed a Non-Cancelable Commercial Equipment Lease Agreement for a base amount for $160.34 per month, for 36 months. At no time during that telephone call (or at any other time, prior to the date of your Revdex.com complaint) did you indicate that you believed the contract to be a loan or purchase agreement, or that you were dissatisfied with its terms. As the Lessor, TimePayment is the owner of the equipment that is subject to the Agreement. The amount that TimePayment paid for the equipment is not the sole determining factor in deciding the base monthly lease payment. Your base monthly lease payment is an amount determined using several factors, including your credit approval rating and desired contract term. If you were dissatisfied with the base monthly payment amount, you had the opportunity to cancel the transaction prior to its commencement. Our records indicate that you reviewed the Agreement, signed it, completed the recorded verification telephone call, accepted the equipment and commenced the Agreement without any dispute or hesitation. If you wish to pay-off the Lease Agreement, the current buyout is $5,244.30. There are 33 payments remaining on the initial lease term. Should you have any questions related to billing, payments or fees, please do not hesitate to contact our Customer Service Department at our toll-free number.
Revdex.com:There's a few but it would not give me a option. Lets start with signatures on these documents. These signatures have for one been altered, as well as are not my signature. It looks like an attempt was made. Please explain.
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]