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.
We would like for Time Payment Corp. to remove all of their faulty equipment that has stopped working properly a few days after installation. I completed a complaint form prior to this one for the same company and I haven't heard anything? This company has not complied with our requests to remove the faulty equipment. No further contact from the business.
Regards,
[redacted]
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. Please add your rejection comments below.
[If you are rejecting the business's response please enter your rejection comments here.] 1. Once again, it would appear that the timepayment organization is in the business of taking advantage of individuals, who thought good of them. I am not implying anything. It is a fact that I presented a deposit of $6,000.00 for a $8,755.27 unit, leaving a balance of $2,755.27 not to include finance charges, but even with the finance charges, it should not be more than $3,250.00. To insist that I pay the timepayment organization $6,688.80, some $3,933.53 over the balance due is a strong arm tactic.2. At no time did the representative request a copy of our Tax exempt 501(c)(3) letter, nor did he explain any type of finance matters over the telephone. Note: At no time do we entertain finance matters over a unsecure telephone line.3. You are indicating that I must pay you property tax as well, when we pay any and all property tax to the county, inwhich the church is located.4. It would appear that attempting to pay off this debt of $2,755.27 to include any resonable finance charge is a dead issue, therefore, we have decided that if the Revdex.com cannot assist us in clearing up this crazy implication on your behalf, I on behalf of the church will have no other choice but to contact the SC Secretary of State, for their assistance in this matter. We are not in the habit of attempting to clear up a honest debt owed, and have it thrown back at us, 3.5 times over said debt for no reason.
Regards,
[redacted]
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]
As previously stated, TimePayment Corp. does not employ door-to-door salespeople, nor do we have any knowledge of any salesperson’s offer to upgrade the security equipment that you are leasing from our company. Furthermore, TimePayment Corp. does not have access to any “reset codes”, as that is something that you would need to contact your alarm monitoring company about. You are claiming that TimePayment Corp. has refused to contact the company which you believe we sent to your business in order to induce you into signing a new contract for upgraded equipment. As previously stated TimePayment has no knowledge of this transaction or which company may be responsible for it, nor can we assist in repairing your alarm monitoring services. To address the portion of your complaint related to TimePayment holding you personally responsible for the contract, we would like to remind you that you signed Commercial Equipment Lease Agreement No. [redacted] on behalf of Canyon River Spa Inc., as well as a Personal Guarantor (please refer to the bottom of page one). Because you signed the contract as a Personal Guarantor, failure to fulfil your obligations as outlined in the Lease Agreement could result in negative reporting on your personal credit report. Finally, TimePayment has never “knowingly participated in a security alarm scam”. TimePayment’s only role in any equipment leasing transaction is to purchase equipment of the Lessee’s choosing from the equipment vendor company of the Lessee’s choosing after the Lease terms have been agreed-upon and the Lease Agreement has been signed. TimePayment did not instruct any company to go to your business to solicit new equipment or a new contract, either prior to the commencement of the Lease or following it. To date, you have not provided specific information which may assist us in identifying the salesperson or company who came to your business and purportedly disconnected your alarm monitoring service. While TimePayment was not involved in the transaction described in your complaint, our records indicate that we did send you a Misrepresentation Questionnaire on September 9th to complete and send back to us so that our Legal Resolutions Department may be able to better investigate this matter. For your convenience, I have attached a second copy of that Questionnaire hereto.As suggested in our original response, the best way to remedy a problem with the functionality of your alarm monitoring service is to contact your alarm monitoring service provider to discuss possible solutions. We apologize that we do not have any additional information in regard to the matter outlined in your complaint.
TimePayment Corp.’s Legal Resolutions Department has received you Revdex.com complaint in regard to the Alarm Monitoring Agreement that you signed with [redacted] Security on July 13, 2013. We have had the opportunity to review your account history – our findings and feedback are below. In your complaint,...
you have claimed that a representative of [redacted] Security came to your home with an offer to cancel your existing alarm monitoring service with a company called [redacted], and set you up with their company to lower your payments and provide better service. Your complaint is that [redacted] Security never cancelled your [redacted] alarm monitoring services and, subsequently, you have been double-billed for alarm monitoring services since July of 2013. You have stated that your contract with [redacted] existed prior to the one that you signed with [redacted] (which was subsequently sold to TimePayment Corp.) and that you wish to have the contract owned by TimePayment cancelled and all payments refunded. First, please be advised that TimePayment Corp. and [redacted] Security are two completely separate companies – we do not share employees, profits or anything else. TimePayment’s only role in this transaction was that of Assignee, purchasing only the billing and collection rights to your Alarm Monitoring Agreement from [redacted].On the same day that you signed the Alarm Monitoring Agreement, you signed a document titled, “Buyer’s Right to Cancel and notice of Cancellation”. The Buyer’s Right to Cancel granted you 3 business days to cancel the Monitoring Agreement and informed you that, to cancel, you had to mail, fax or deliver a signed and dated copy of the Cancellation Notice to [redacted] Security before midnight on July 18, 2013. When you did not elect to cancel the Agreement, TimePayment conducted a recorded verification telephone call with you on July 19, 2013. During that recorded telephone call, you confirmed that you understood that you had signed a Monitoring Agreement for 60 months, at a rate of $47.99 per month. You also confirmed that you were previously being monitored by the security company ADT, but that you had cancelled that contract over a year prior to signing with [redacted]. Last, you stated, for the recorded line, that you understood that it was your responsibility to cancel any previous monitoring contracts and that failure to do so would have no bearing on your obligation to TimePayment. As a result of your responses, we purchased the billing and collection rights to your Alarm Monitoring Agreement and began billing you.Please understand that TimePayment Corp. is not an Alarm Monitoring Company, nor do we provide alarm monitoring services of any kind. The alarm monitoring services that TimePayment has billed your for since July of 2013 are provided by [redacted], Inc. D/B/A C.O.P.S. Monitoring. Our records indicate that TimePayment has been automatically debiting payments from your bank account since September of 2013, in correlation with the “Automatic Payment Authorization” form that you signed on July 13, 2013 (copy attached). You made 23 monthly payments, without dispute, before calling our Customer Service Department on June 25, 2015 to claim that you were being double-billed by TimePayment and [redacted]. It is TimePayment’s position that, by signing the Alarm Monitoring Agreement and completing our recorded verification telephone call, you represented to our company that you understood the terms of the contract that you had signed, you had confirmed that your home was being monitored and that you were not being monitored by any other companies at that time. You have further ratified the Agreement by making 23 monthly payments without dispute.You were given ample opportunity to cancel the Alarm Services Agreement, first via the Buyer’s Right to Cancel document, and then via the recorded verification telephone call. You made no mention of any other existing monitoring contracts that you had, or any miscommunications that may have occurred between yourself and [redacted] Security. Unfortunately, for these reasons, we are not able to cancel this Alarm Monitoring Agreement or refund any of the payments that have been collected on it. We apologize that we cannot further assist you in this matter, and encourage you to contact [redacted] at ###-###-#### with any questions or concerns related to your monitoring service.
As stated within the terms and conditions section of the Lease Agreement, and in our previous response, TimePayment does not offer any warranties for the equipment, and is not responsible for servicing and/or repairs to the equipment. As stated in the ”Maintenance” section, located on page 2, you are responsible for maintaining the equipment in good operating condition at your own expense, and TimePayment does not provide servicing of any kind. Furthermore, this is an Equipment Lease for security equipment, and not an alarm monitoring agreement. TimePayment does not bill you for any services, including monitoring, nor do we have knowledge of which monitoring company you use. Problems with your service should be addressed with the service-provider. TimePayment does not reimburse individuals for postal fees in the event that the individual elects to send mail to our company certified. We have complied with your original request for the account to be closed and the credit bureaus to be notified of the error, and we have addressed your equipment-related concerns. We sincerely apologize that we cannot be of further assistance.
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. Please add your rejection comments below. I will not accept any business response and this case will remain open until the portal shows no balance due and no balance overdue. If that's a day or 10 days, this will not be accepted as I don't feel this was a "glitch" but intentional in order to try to scam customers out of any extra money as possible. Please do not respond until this "glitch" is corrected and I can see it for myself on the portal.
Regards,
[redacted]
No employees of TimePayment have represented the contract to be anything other than a Lease Agreement. The document accurately identifies itself as a Lease Agreement in bold, capitalized print at the top of page one (1) and throughout the pages of the contract. TimePayment is a finance lessor, and not a bank. We do not provide loans, nor do we provide maintenance or servicing of equipment – as is stated in section 12 (“Equipment Servicing”). As stated in section 5 (“End of Lease Term”), you may purchase the equipment at the conclusion of the lease term, for the fair market value (as determined by TimePayment). The fair market value is defined (also in section 5) as being 10% of the aggregate lease payments (which is $403.92), and not by the equipment's original retail value. The current buyout of $611.08 is comprised of the fair market value of the equipment ($403.92), open invoices on the account as of today ($185.75) and sales tax ($21.41). Notwithstanding this information, [redacted] (Supervisor of Lessee Relations) attempted to contact you by phone on Friday, March 17th to discuss an amicable resolution – unfortunately, he has not been able to reach you. If you would like to further discuss an amicable resolution, please contact [redacted] at ([redacted], or at [redacted].[redacted]@timepayment.com.
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 are sorry to hear that you are dissatisfied with our response. Unfortunately, our records do not reflect any “extra charges” on your account. Per the attached Invoice History, you have only been charged for the contracted amount – there are no collection fees, dishonored payment fees, or any other fees which can be removed as a courtesy. Because the amount that you are being charged is in accordance with the contract, it cannot be lowered. In essence, your request describes an interest-free or low-interest loan, which is not something that TimePayment provides, as we are not a bank and do not provide loans of any kind. We sincerely apologize that we cannot be of further assistance in this matter.
Revdex.com:Miss [redacted] keeps records too... and has certainly spoken with your company on (2) more occasions than what you have in your records. As a matter of fact, she was discussing the money issue on 09/07/16 (3rd call to your company) for about 12 minutes and the phone just went silent as she was talking to the girl. Since no one called us back, we assumed we were disconnected intentionally. They were discussing the account info, so the girl that answered the phone had our records up in front of her.The second time that she spoke to someone they said they "Didn't know" what the goal amount was, just what the pay off was.The first time she was told the Pay-Off, she couldn't afford to put that total amount down, which is why she made big payments ($400.00; $500.00 as often as possible) to get that paid off as quickly as possible, like I had asked her to do. You make it sound like it's our fault that your "system" didn't recognize the payments and post properly. I think you need to update your system. If someone gives you money towards a "pay-off, buy-out" or whatever you wish to call it - that money should be deducted from that amount in a reasonable amount of time.That money should not be "Held onto" like my money was... and ate away at monthly.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. Bottom line. Thanks for refunding what was overpaid to you. I will be watching for a check.Regards,[redacted]
TimePayment Corp. (“TPC”) has received your complaint, and we have had the opportunity to review your account. In our response, we will attempt to clarify the terms of the contract that you signed, as well as our role in this transaction. You have indicated that you communicated to your equipment...
vendor, [redacted] (“[redacted]”), that you were (essentially) seeking a loan in order to finance the automotive equipment that you needed for your business. Subsequently, [redacted] directed you to TPC for financing of the commercial equipment. You have further claimed that you did not read the contract before signing it and, therefore, were not aware that it was actually a Lease Agreement.Our records indicate that TPC received and approved your credit application on July 10, 2015. Prior to paying [redacted] for the equipment and commencing the Lease Agreement, TPC requested and received a signed copy of the Non-Cancelable Commercial Equipment Lease Agreement, as well as a signed Delivery and Acceptance Form (“D&A”).The Lease Agreement boldly identifies itself as such at the top of page 1, as well as throughout the pages of the contract. Please refer to the top, left corner of page 1, 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.”The Lease Agreement that you signed on behalf of [redacted] d/b/a [redacted] is for a non-cancelable term of 24 months, at a base monthly amount of $185.23 (plus any applicable taxes and fees). Should you wish to pay the lease off early, you may do so by calling our Customer Service Department at our toll-free number to request a Lease Buyout Quote. Unfortunately, the contract that you signed is a Lease Agreement, and not a loan - as TimePayment Corp. is an equipment leasing company, which does not offer cash loans, or loans of any other kind. It is TPC’s position that, as a business owner, you were charged with thoroughly reading and understanding the Lease Agreement before signing it, or reviewing it with a legal professional if the terms were not to your understanding. We apologize for any miscommunications which may have occurred between yourself and [redacted]. We encourage you to address this matter with [redacted] directly, as TPC acted solely as a finance lessor in this transaction (as is more thoroughly described under UCC Article 2A), and did not represent the contract to be anything other than a Lease Agreement. Should you have any additional questions or concerns related to the Lease Agreement, please do not hesitate to contact our Customer Service Department.
We apologize that you are not satisfied with our response. As stated in the cover letter that accompanied the Forgery Questionnaire, the investigation into your forgery claim can take up to 30 days to complete, once received. TimePayment received your claim documents for account [redacted] on February 19th, and the investigation is pending. Please allow a reasonable amount of time for this claim to be thoroughly investigated. As previously stated, there are no open claims on your second account ([redacted]) that are being investigated. If you wish for that account to be closed, the current buyout amount is $3,489.55.
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]
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. . The contact is not my Signature, I did not sign this contact! Please remove this debt from the following credit files ([redacted].) If you don't I will file a complaint. This is not my debt and that contract is not my signature.
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].
While I accept the statements in general, the part that I am saying that you're unwilling to cooperate with is the documents online. There is not a way for me to see the lease agreement or any other document besides the payments that have been made. You should make things easier for the consumer to get these documents without charging for them. I understand that your business doesn't have to follow everything that millions of big businesses do for the customers like viewing statements and documents sent online for free and the consumer can print out the document themselves instead of having it be sent to them, but it would help you avoid situations like these where the customer feels like they have to resort to complaining to the Revdex.com to get a response and documentation from you.
Regards,
[redacted]
TimePayment Corp. is in receipt of your complaint, and we have had the opportunity to review your account. We would like to take this opportunity to explain the terms of the contract that you signed.Our records indicate that Non-Cancellable Commercial Equipment Lease Agreement No. [redacted]...
(“Agreement”) for [redacted]. was originally commenced on October 12, 2006, with you ([redacted]) and [redacted] signing on behalf of the Lessee, and as Personal Guarantors. On April 2, 2008 you completed the Lease Transfer process, removing yourself and [redacted] from the Agreement, and adding [redacted]. and [redacted] as the Personal Guarantors. The Lease Transfer process did not alter the terms of the original Agreement that was signed in 2006. Copies of both Agreements are attached, for your review. [redacted]. (and the Personal Guarantors) agreed to remit base monthly payments of $421.55 for a period of 48 months for the leasing of various pieces of restaurant equipment. Pursuant to section 5 (“End of Lease Term”), of page 2 of the Agreement, you had three (3) options at the end of the original lease term. Options included: (1) returning the equipment to TimePayment; (2) continuing to make payments on a month-to-month rental basis under the existing terms; or (3) purchasing the equipment by paying the fair market value. As per the terms, if none of the options are exercised, the Agreement 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. On July 6, 2010 (two months prior to the end of your lease term), TimePayment mailed a letter to your business address, reminding you that there were two (2) months remaining on the initial term of your Agreement. That letter also summarized the End of Lease Term Options, as outlined in section 5 of the Agreement. The letter further stated: “Unless you notify us in writing of the option you wish to choose 30 days prior to the expiration of the initial agreement term, as stated above, your agreement will automatically be extended on a month-to-month basis as outlined in option (2)”. A copy of that letter is attached, for your review. Our records indicate that you called our Customer Service Department on August 13, 2010 to discuss this account, and the preceding Lease Transfer that had occurred two years prior. That call ended with you indicating that you would call back after reviewing your records related to the account. Our records do not indicate that anyone related to this account ever called back, and a Buyout payment was never received. The account subsequently transferred to month-to-month rental status after your September 15, 2010 payment. Because you elected to have your account set-up on automatic payments, payments were being automatically deducted each month. TimePayment did not receive any further correspondence from anyone associated with this account until April 1, 2016 when you called our Customer Service Department to request a copy of the Agreement. It is TimePayment’s position that the Agreement is clear - the buyout on the contract requires payment of the Fair Market Value in addition to all monthly lease payments. To date, you have not paid the fair market value buyout to keep the equipment, nor have you returned the equipment to TimePayment.Notwithstanding the above, TimePayment would like to amicably resolve the dispute. As a courtesy, we will agree to waive the current Lease Buyout amount, and close your account for payments already received. Should you have any further questions, please do not hesitate to contact us at our toll-free number.
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. Please add your rejection comments below.
Hi , my name is [redacted] , I m compiling for " time payment "I can't pay them because I don't have job , plz I want to cancel that , they are sit with me
Regards,
[redacted]
TimePayment is in receipt of your complaint, filed with the Revdex.com on June 3rd, and we have had the opportunity to review your account. The basis of your complaint is that you wish to cancel the Consumer Equipment Lease Agreement that you have with TimePayment Corp. and TimePayment is not allowing you...
to cancel.Our records indicate that you signed a Consumer Equipment Lease Agreement with TimePayment Corp. on April 16, 2012 via the equipment vendor company, [redacted] Inc. D/B/A [redacted]. Pursuant to page one (1), box A (“Monthly Payment”), you agreed to remit 60 monthly payments of $50.00 to TimePayment, with an added sales tax of $4.44. Our records indicate that, to date, you have remitted a total of thirty-four (34) monthly payments, with twenty-six (26) payments remaining owed. Please be advised that TimePayment Corp. and [redacted] are two completely separate companies – we do not share employees, profits or anything else. TimePayment acted solely as a finance lessor in this transaction – extending credit to you in the form of an Equipment Lease Agreement after receiving and approving a credit application. Prior to paying [redacted] for the equipment that is listed on the Lease Agreement, TimePayment requested and received several documents, including a signed Buyer’s Right to Cancel Form, and a signed Delivery & Acceptance Form (both documents are attached). The Buyer’s Right to Cancel allowed you three (3) business days to cancel the transaction, which expired at midnight on April 21, 2012. At no time during the Buyer’s Right to Cancel period did you request to cancel the Lease Agreement or return the equipment. You then proceeded to ratify the contract by submitting nearly three (3) years-worth of monthly payments, without dispute. The Delivery & Acceptance Form that you signed on April 16, 2012 states (in part): “This Lease is a Consumer Equipment Lease Agreement between the Lessee and TimePayment Corp. This Lease Agreement is for 60 months and the base monthly payment is $50 (plus applicable taxes, tax processing fee and loss or destruction waiver)… Any changes to this Lease Agreement must be made in writing and signed by the Lessee and an authorized representative of TimePayment Corp.” When TimePayment did not receive a cancellation request from you prior to the deadline provided, we paid [redacted] for the equipment and commenced the Lease Agreement on May 2, 2012. For the reasons mentioned herein, we are not able to cancel Lease Agreement No. [redacted] at this time. Alternately, you may wish to pay the Buyout Amount on your account – which is currently $1,572.01. This Buyout Offer will remain valid for fifteen (15) days – if you wish to pursue this option, please contact our Collections Department at your earliest convenience to make payment arrangements. We would like to inform you that your account is currently more than thirty (30) days past-due and may be negatively impacting your personal credit. We urge you to contact our Collections Department immediately regarding this matter.
Unfortunately, TimePayment does not have any documents on record showing valid insurance coverage for the equipment for the months that you were billed the Loss or Destruction Waiver Fee. Please provide proof of insurance for the months of June, 2015 through January, 2016 and TimePayment would be happy to refund any fees that were charged to you for the Loss or Destruction Waiver Fee for those months.
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.
We would like for Time Payment Corp. to remove all of their faulty equipment that has stopped working properly a few days after installation. I completed a complaint form prior to this one for the same company and I haven't heard anything? This company has not complied with our requests to remove the faulty equipment. No further contact from the business.
Regards,
[redacted]
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. Please add your rejection comments below.
[If you are rejecting the business's response please enter your rejection comments here.] 1. Once again, it would appear that the timepayment organization is in the business of taking advantage of individuals, who thought good of them. I am not implying anything. It is a fact that I presented a deposit of $6,000.00 for a $8,755.27 unit, leaving a balance of $2,755.27 not to include finance charges, but even with the finance charges, it should not be more than $3,250.00. To insist that I pay the timepayment organization $6,688.80, some $3,933.53 over the balance due is a strong arm tactic.2. At no time did the representative request a copy of our Tax exempt 501(c)(3) letter, nor did he explain any type of finance matters over the telephone. Note: At no time do we entertain finance matters over a unsecure telephone line.3. You are indicating that I must pay you property tax as well, when we pay any and all property tax to the county, inwhich the church is located.4. It would appear that attempting to pay off this debt of $2,755.27 to include any resonable finance charge is a dead issue, therefore, we have decided that if the Revdex.com cannot assist us in clearing up this crazy implication on your behalf, I on behalf of the church will have no other choice but to contact the SC Secretary of State, for their assistance in this matter. We are not in the habit of attempting to clear up a honest debt owed, and have it thrown back at us, 3.5 times over said debt for no reason.
Regards,
[redacted]
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]
As previously stated, TimePayment Corp. does not employ door-to-door salespeople, nor do we have any knowledge of any salesperson’s offer to upgrade the security equipment that you are leasing from our company. Furthermore, TimePayment Corp. does not have access to any “reset codes”, as that is something that you would need to contact your alarm monitoring company about. You are claiming that TimePayment Corp. has refused to contact the company which you believe we sent to your business in order to induce you into signing a new contract for upgraded equipment. As previously stated TimePayment has no knowledge of this transaction or which company may be responsible for it, nor can we assist in repairing your alarm monitoring services. To address the portion of your complaint related to TimePayment holding you personally responsible for the contract, we would like to remind you that you signed Commercial Equipment Lease Agreement No. [redacted] on behalf of Canyon River Spa Inc., as well as a Personal Guarantor (please refer to the bottom of page one). Because you signed the contract as a Personal Guarantor, failure to fulfil your obligations as outlined in the Lease Agreement could result in negative reporting on your personal credit report. Finally, TimePayment has never “knowingly participated in a security alarm scam”. TimePayment’s only role in any equipment leasing transaction is to purchase equipment of the Lessee’s choosing from the equipment vendor company of the Lessee’s choosing after the Lease terms have been agreed-upon and the Lease Agreement has been signed. TimePayment did not instruct any company to go to your business to solicit new equipment or a new contract, either prior to the commencement of the Lease or following it. To date, you have not provided specific information which may assist us in identifying the salesperson or company who came to your business and purportedly disconnected your alarm monitoring service. While TimePayment was not involved in the transaction described in your complaint, our records indicate that we did send you a Misrepresentation Questionnaire on September 9th to complete and send back to us so that our Legal Resolutions Department may be able to better investigate this matter. For your convenience, I have attached a second copy of that Questionnaire hereto.As suggested in our original response, the best way to remedy a problem with the functionality of your alarm monitoring service is to contact your alarm monitoring service provider to discuss possible solutions. We apologize that we do not have any additional information in regard to the matter outlined in your complaint.
TimePayment Corp.’s Legal Resolutions Department has received you Revdex.com complaint in regard to the Alarm Monitoring Agreement that you signed with [redacted] Security on July 13, 2013. We have had the opportunity to review your account history – our findings and feedback are below. In your complaint,...
you have claimed that a representative of [redacted] Security came to your home with an offer to cancel your existing alarm monitoring service with a company called [redacted], and set you up with their company to lower your payments and provide better service. Your complaint is that [redacted] Security never cancelled your [redacted] alarm monitoring services and, subsequently, you have been double-billed for alarm monitoring services since July of 2013. You have stated that your contract with [redacted] existed prior to the one that you signed with [redacted] (which was subsequently sold to TimePayment Corp.) and that you wish to have the contract owned by TimePayment cancelled and all payments refunded. First, please be advised that TimePayment Corp. and [redacted] Security are two completely separate companies – we do not share employees, profits or anything else. TimePayment’s only role in this transaction was that of Assignee, purchasing only the billing and collection rights to your Alarm Monitoring Agreement from [redacted].On the same day that you signed the Alarm Monitoring Agreement, you signed a document titled, “Buyer’s Right to Cancel and notice of Cancellation”. The Buyer’s Right to Cancel granted you 3 business days to cancel the Monitoring Agreement and informed you that, to cancel, you had to mail, fax or deliver a signed and dated copy of the Cancellation Notice to [redacted] Security before midnight on July 18, 2013. When you did not elect to cancel the Agreement, TimePayment conducted a recorded verification telephone call with you on July 19, 2013. During that recorded telephone call, you confirmed that you understood that you had signed a Monitoring Agreement for 60 months, at a rate of $47.99 per month. You also confirmed that you were previously being monitored by the security company ADT, but that you had cancelled that contract over a year prior to signing with [redacted]. Last, you stated, for the recorded line, that you understood that it was your responsibility to cancel any previous monitoring contracts and that failure to do so would have no bearing on your obligation to TimePayment. As a result of your responses, we purchased the billing and collection rights to your Alarm Monitoring Agreement and began billing you.Please understand that TimePayment Corp. is not an Alarm Monitoring Company, nor do we provide alarm monitoring services of any kind. The alarm monitoring services that TimePayment has billed your for since July of 2013 are provided by [redacted], Inc. D/B/A C.O.P.S. Monitoring. Our records indicate that TimePayment has been automatically debiting payments from your bank account since September of 2013, in correlation with the “Automatic Payment Authorization” form that you signed on July 13, 2013 (copy attached). You made 23 monthly payments, without dispute, before calling our Customer Service Department on June 25, 2015 to claim that you were being double-billed by TimePayment and [redacted]. It is TimePayment’s position that, by signing the Alarm Monitoring Agreement and completing our recorded verification telephone call, you represented to our company that you understood the terms of the contract that you had signed, you had confirmed that your home was being monitored and that you were not being monitored by any other companies at that time. You have further ratified the Agreement by making 23 monthly payments without dispute.You were given ample opportunity to cancel the Alarm Services Agreement, first via the Buyer’s Right to Cancel document, and then via the recorded verification telephone call. You made no mention of any other existing monitoring contracts that you had, or any miscommunications that may have occurred between yourself and [redacted] Security. Unfortunately, for these reasons, we are not able to cancel this Alarm Monitoring Agreement or refund any of the payments that have been collected on it. We apologize that we cannot further assist you in this matter, and encourage you to contact [redacted] at ###-###-#### with any questions or concerns related to your monitoring service.
As stated within the terms and conditions section of the Lease Agreement, and in our previous response, TimePayment does not offer any warranties for the equipment, and is not responsible for servicing and/or repairs to the equipment. As stated in the ”Maintenance” section, located on page 2, you are responsible for maintaining the equipment in good operating condition at your own expense, and TimePayment does not provide servicing of any kind. Furthermore, this is an Equipment Lease for security equipment, and not an alarm monitoring agreement. TimePayment does not bill you for any services, including monitoring, nor do we have knowledge of which monitoring company you use. Problems with your service should be addressed with the service-provider. TimePayment does not reimburse individuals for postal fees in the event that the individual elects to send mail to our company certified. We have complied with your original request for the account to be closed and the credit bureaus to be notified of the error, and we have addressed your equipment-related concerns. We sincerely apologize that we cannot be of further assistance.
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. Please add your rejection comments below. I will not accept any business response and this case will remain open until the portal shows no balance due and no balance overdue. If that's a day or 10 days, this will not be accepted as I don't feel this was a "glitch" but intentional in order to try to scam customers out of any extra money as possible. Please do not respond until this "glitch" is corrected and I can see it for myself on the portal.
Regards,
[redacted]
No employees of TimePayment have represented the contract to be anything other than a Lease Agreement. The document accurately identifies itself as a Lease Agreement in bold, capitalized print at the top of page one (1) and throughout the pages of the contract. TimePayment is a finance lessor, and not a bank. We do not provide loans, nor do we provide maintenance or servicing of equipment – as is stated in section 12 (“Equipment Servicing”). As stated in section 5 (“End of Lease Term”), you may purchase the equipment at the conclusion of the lease term, for the fair market value (as determined by TimePayment). The fair market value is defined (also in section 5) as being 10% of the aggregate lease payments (which is $403.92), and not by the equipment's original retail value. The current buyout of $611.08 is comprised of the fair market value of the equipment ($403.92), open invoices on the account as of today ($185.75) and sales tax ($21.41). Notwithstanding this information, [redacted] (Supervisor of Lessee Relations) attempted to contact you by phone on Friday, March 17th to discuss an amicable resolution – unfortunately, he has not been able to reach you. If you would like to further discuss an amicable resolution, please contact [redacted] at ([redacted], or at [redacted].[redacted]@timepayment.com.
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 are sorry to hear that you are dissatisfied with our response. Unfortunately, our records do not reflect any “extra charges” on your account. Per the attached Invoice History, you have only been charged for the contracted amount – there are no collection fees, dishonored payment fees, or any other fees which can be removed as a courtesy. Because the amount that you are being charged is in accordance with the contract, it cannot be lowered. In essence, your request describes an interest-free or low-interest loan, which is not something that TimePayment provides, as we are not a bank and do not provide loans of any kind. We sincerely apologize that we cannot be of further assistance in this matter.
Revdex.com:Miss [redacted] keeps records too... and has certainly spoken with your company on (2) more occasions than what you have in your records. As a matter of fact, she was discussing the money issue on 09/07/16 (3rd call to your company) for about 12 minutes and the phone just went silent as she was talking to the girl. Since no one called us back, we assumed we were disconnected intentionally. They were discussing the account info, so the girl that answered the phone had our records up in front of her.The second time that she spoke to someone they said they "Didn't know" what the goal amount was, just what the pay off was.The first time she was told the Pay-Off, she couldn't afford to put that total amount down, which is why she made big payments ($400.00; $500.00 as often as possible) to get that paid off as quickly as possible, like I had asked her to do. You make it sound like it's our fault that your "system" didn't recognize the payments and post properly. I think you need to update your system. If someone gives you money towards a "pay-off, buy-out" or whatever you wish to call it - that money should be deducted from that amount in a reasonable amount of time.That money should not be "Held onto" like my money was... and ate away at monthly.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. Bottom line. Thanks for refunding what was overpaid to you. I will be watching for a check.Regards,[redacted]
TimePayment Corp. (“TPC”) has received your complaint, and we have had the opportunity to review your account. In our response, we will attempt to clarify the terms of the contract that you signed, as well as our role in this transaction. You have indicated that you communicated to your equipment...
vendor, [redacted] (“[redacted]”), that you were (essentially) seeking a loan in order to finance the automotive equipment that you needed for your business. Subsequently, [redacted] directed you to TPC for financing of the commercial equipment. You have further claimed that you did not read the contract before signing it and, therefore, were not aware that it was actually a Lease Agreement.Our records indicate that TPC received and approved your credit application on July 10, 2015. Prior to paying [redacted] for the equipment and commencing the Lease Agreement, TPC requested and received a signed copy of the Non-Cancelable Commercial Equipment Lease Agreement, as well as a signed Delivery and Acceptance Form (“D&A”).The Lease Agreement boldly identifies itself as such at the top of page 1, as well as throughout the pages of the contract. Please refer to the top, left corner of page 1, 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.”The Lease Agreement that you signed on behalf of [redacted] d/b/a [redacted] is for a non-cancelable term of 24 months, at a base monthly amount of $185.23 (plus any applicable taxes and fees). Should you wish to pay the lease off early, you may do so by calling our Customer Service Department at our toll-free number to request a Lease Buyout Quote. Unfortunately, the contract that you signed is a Lease Agreement, and not a loan - as TimePayment Corp. is an equipment leasing company, which does not offer cash loans, or loans of any other kind. It is TPC’s position that, as a business owner, you were charged with thoroughly reading and understanding the Lease Agreement before signing it, or reviewing it with a legal professional if the terms were not to your understanding. We apologize for any miscommunications which may have occurred between yourself and [redacted]. We encourage you to address this matter with [redacted] directly, as TPC acted solely as a finance lessor in this transaction (as is more thoroughly described under UCC Article 2A), and did not represent the contract to be anything other than a Lease Agreement. Should you have any additional questions or concerns related to the Lease Agreement, please do not hesitate to contact our Customer Service Department.
We apologize that you are not satisfied with our response. As stated in the cover letter that accompanied the Forgery Questionnaire, the investigation into your forgery claim can take up to 30 days to complete, once received. TimePayment received your claim documents for account [redacted] on February 19th, and the investigation is pending. Please allow a reasonable amount of time for this claim to be thoroughly investigated. As previously stated, there are no open claims on your second account ([redacted]) that are being investigated. If you wish for that account to be closed, the current buyout amount is $3,489.55.
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]
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. . The contact is not my Signature, I did not sign this contact! Please remove this debt from the following credit files ([redacted].) If you don't I will file a complaint. This is not my debt and that contract is not my signature.
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].
While I accept the statements in general, the part that I am saying that you're unwilling to cooperate with is the documents online. There is not a way for me to see the lease agreement or any other document besides the payments that have been made. You should make things easier for the consumer to get these documents without charging for them. I understand that your business doesn't have to follow everything that millions of big businesses do for the customers like viewing statements and documents sent online for free and the consumer can print out the document themselves instead of having it be sent to them, but it would help you avoid situations like these where the customer feels like they have to resort to complaining to the Revdex.com to get a response and documentation from you.
Regards,
[redacted]
TimePayment Corp. is in receipt of your complaint, and we have had the opportunity to review your account. We would like to take this opportunity to explain the terms of the contract that you signed.Our records indicate that Non-Cancellable Commercial Equipment Lease Agreement No. [redacted]...
(“Agreement”) for [redacted]. was originally commenced on October 12, 2006, with you ([redacted]) and [redacted] signing on behalf of the Lessee, and as Personal Guarantors. On April 2, 2008 you completed the Lease Transfer process, removing yourself and [redacted] from the Agreement, and adding [redacted]. and [redacted] as the Personal Guarantors. The Lease Transfer process did not alter the terms of the original Agreement that was signed in 2006. Copies of both Agreements are attached, for your review. [redacted]. (and the Personal Guarantors) agreed to remit base monthly payments of $421.55 for a period of 48 months for the leasing of various pieces of restaurant equipment. Pursuant to section 5 (“End of Lease Term”), of page 2 of the Agreement, you had three (3) options at the end of the original lease term. Options included: (1) returning the equipment to TimePayment; (2) continuing to make payments on a month-to-month rental basis under the existing terms; or (3) purchasing the equipment by paying the fair market value. As per the terms, if none of the options are exercised, the Agreement 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. On July 6, 2010 (two months prior to the end of your lease term), TimePayment mailed a letter to your business address, reminding you that there were two (2) months remaining on the initial term of your Agreement. That letter also summarized the End of Lease Term Options, as outlined in section 5 of the Agreement. The letter further stated: “Unless you notify us in writing of the option you wish to choose 30 days prior to the expiration of the initial agreement term, as stated above, your agreement will automatically be extended on a month-to-month basis as outlined in option (2)”. A copy of that letter is attached, for your review. Our records indicate that you called our Customer Service Department on August 13, 2010 to discuss this account, and the preceding Lease Transfer that had occurred two years prior. That call ended with you indicating that you would call back after reviewing your records related to the account. Our records do not indicate that anyone related to this account ever called back, and a Buyout payment was never received. The account subsequently transferred to month-to-month rental status after your September 15, 2010 payment. Because you elected to have your account set-up on automatic payments, payments were being automatically deducted each month. TimePayment did not receive any further correspondence from anyone associated with this account until April 1, 2016 when you called our Customer Service Department to request a copy of the Agreement. It is TimePayment’s position that the Agreement is clear - the buyout on the contract requires payment of the Fair Market Value in addition to all monthly lease payments. To date, you have not paid the fair market value buyout to keep the equipment, nor have you returned the equipment to TimePayment.Notwithstanding the above, TimePayment would like to amicably resolve the dispute. As a courtesy, we will agree to waive the current Lease Buyout amount, and close your account for payments already received. Should you have any further questions, please do not hesitate to contact us at our toll-free number.
Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. Please add your rejection comments below.
Hi , my name is [redacted] , I m compiling for " time payment "I can't pay them because I don't have job , plz I want to cancel that , they are sit with me
Regards,
[redacted]
TimePayment is in receipt of your complaint, filed with the Revdex.com on June 3rd, and we have had the opportunity to review your account. The basis of your complaint is that you wish to cancel the Consumer Equipment Lease Agreement that you have with TimePayment Corp. and TimePayment is not allowing you...
to cancel.Our records indicate that you signed a Consumer Equipment Lease Agreement with TimePayment Corp. on April 16, 2012 via the equipment vendor company, [redacted] Inc. D/B/A [redacted]. Pursuant to page one (1), box A (“Monthly Payment”), you agreed to remit 60 monthly payments of $50.00 to TimePayment, with an added sales tax of $4.44. Our records indicate that, to date, you have remitted a total of thirty-four (34) monthly payments, with twenty-six (26) payments remaining owed. Please be advised that TimePayment Corp. and [redacted] are two completely separate companies – we do not share employees, profits or anything else. TimePayment acted solely as a finance lessor in this transaction – extending credit to you in the form of an Equipment Lease Agreement after receiving and approving a credit application. Prior to paying [redacted] for the equipment that is listed on the Lease Agreement, TimePayment requested and received several documents, including a signed Buyer’s Right to Cancel Form, and a signed Delivery & Acceptance Form (both documents are attached). The Buyer’s Right to Cancel allowed you three (3) business days to cancel the transaction, which expired at midnight on April 21, 2012. At no time during the Buyer’s Right to Cancel period did you request to cancel the Lease Agreement or return the equipment. You then proceeded to ratify the contract by submitting nearly three (3) years-worth of monthly payments, without dispute. The Delivery & Acceptance Form that you signed on April 16, 2012 states (in part): “This Lease is a Consumer Equipment Lease Agreement between the Lessee and TimePayment Corp. This Lease Agreement is for 60 months and the base monthly payment is $50 (plus applicable taxes, tax processing fee and loss or destruction waiver)… Any changes to this Lease Agreement must be made in writing and signed by the Lessee and an authorized representative of TimePayment Corp.” When TimePayment did not receive a cancellation request from you prior to the deadline provided, we paid [redacted] for the equipment and commenced the Lease Agreement on May 2, 2012. For the reasons mentioned herein, we are not able to cancel Lease Agreement No. [redacted] at this time. Alternately, you may wish to pay the Buyout Amount on your account – which is currently $1,572.01. This Buyout Offer will remain valid for fifteen (15) days – if you wish to pursue this option, please contact our Collections Department at your earliest convenience to make payment arrangements. We would like to inform you that your account is currently more than thirty (30) days past-due and may be negatively impacting your personal credit. We urge you to contact our Collections Department immediately regarding this matter.
Unfortunately, TimePayment does not have any documents on record showing valid insurance coverage for the equipment for the months that you were billed the Loss or Destruction Waiver Fee. Please provide proof of insurance for the months of June, 2015 through January, 2016 and TimePayment would be happy to refund any fees that were charged to you for the Loss or Destruction Waiver Fee for those months.