Keystone Equipment Finance Corp.

Keystone Equipment Finance Corp entered into a month finance contract with the entity filing this complaint on August 15, We disagree with Mr***’s accusation that the early termination fee was not disclosed because the he in fact negotiated terms that are more favorable than what is typically offered under Keystone’s standard contractThese terms were fully disclosed on page one of the contract Our representatives have reached out to Mr [redacted] in an effort to further negotiate the termination of this contractUnfortunately, Mr [redacted] refuses to work with us to find a solution that is acceptable to both partiesKeystone is not a short-term lender We would also like to add that the entity that contracted with our company is in technical default of its contract because it has failed to properly register the vehicle and record Keystone’s lien on the title

The clear language on the 1st page of the Commercial Promissory Note signed and initialed by the customer states:"Debtor further acknowledges a contractual obligation to compensate Holder upon demand for reasonable costs incurred with the initial processing, termination
processing or any amendment of this Note, not to exceed $for each separate event."The debtor did pay $as initial processing fee as provided for above upon commencement of this contract. Debtor also paid $as a registration fee which is provided for in a separate clause of the contract. This fee is not part of the processing fee quoted above Now at the maturity of this contract, debtor was charged a $termination processing fee (aka closing fee) as provided for above. While $is not specifically referenced in the contact, it is less than the $that the contract allows per event. Debtor seems to imply that the term "termination" used in the contract means only "early termination". However it simply means the end of the contract, regardless of how it is reached.We take offense to the complaint that we are lying regarding our fees. The debtor contacted Keystone and the above was explained to her. She complained about the "little print" that is actually on the face of the contract in the same size font as all other text and in bold. The debtor terminated the conversation at that point. Our representative was willing to work and discuss this with the debtor, however the debtor was unwilling to continue the conversation.Keystone remains willing to discuss this fee with the debtor

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
Sincerely,
[redacted]

Keystone is diligently working with the customer to reach an agreement that works for all parties.

Keystone Equipment Finance Corp entered into a 48 month
finance contract with the entity filing this complaint on August 15, 2013. We
disagree with Mr. [redacted]’s accusation that the early termination fee was...

not
disclosed because the he in fact negotiated terms that are more favorable than
what is typically offered under Keystone’s standard contract. These terms were
fully disclosed on page one of the contract.

Our representatives have reached out to Mr. [redacted] in an
effort to further negotiate the termination of this contract. Unfortunately,
Mr. [redacted] refuses to work with us to find a solution that is acceptable to both
parties. Keystone is not a short-term lender.

We would also like to add that the entity that
contracted with our company is in technical default of its contract because it
has failed to properly register the vehicle and record Keystone’s lien on the
title.

Keystone has taken steps to rectify Mr. [redacted] situation.  We hope, in the very near future, he will report that the transaction was closed to his satisfaction.

The parties have reached a mutually agreeable resolution to this matter and are closing the account on good terms.  Our customer has agreed to remove the complaint.

Review: we financed purchase of our trailer with keystone equipment, we gave them down payment of like 30%, when we signed contract we paid $495 processing fee, and 310 lien/title fee.we paid it off, never made any late payments, received our last bill, and it says that now we owe them another $495 closing fee. There is no where in says that there will be $495 closing fee. we think its really unfair for customers to have hidden and unexpected fees, it should be written in black and white with numbers in contract so people who sign this will know what to expect at the end. I tried to call them twice and try to come up with some kind of solution, but people who I talked to were really unprofessional , they were finding some little prints in contract saying that this is what they are referring to, and I think they are lying and trying to confuse people because they don't have an answer and they don't have it written in contract where it says anything about closing fees because when I called first time they were referring to a termination fee ( I told them that I am not terminating anything, everything is paid off), then when that did not work with me, they came us with something new. I AM WRITING THIS SO ALL OTHER PEOPLE WHO WILL TRY TO FINANCE WITH THIS COMPANY SHOULD BE REALLY CAREFULL BECAUSE THIS COMPANY HAS HIDDEN FEES, AND THEY ARE REALLY HIGH, AND I THINK ITS UNFAIR FOR CUSTOMERS, THEY SHOULD KNOW UPFRONTWHAT THEY WILL GET CHARGED, ALL THE FEES SHOULD BE LISTED IN CONTRACT. AND THIS COMPANY DOESNT HAVE IT, ALL THE WORDS THEY USE ARE VAGUE AND ITS DONE ON PURPOSE TO CONFUSE PEOPLE. I THINK ITS VERY VERY WRONG. AND THEIR CUSTOMET SERVICE IS VERY BAD. THEY SHOULD BE MORE PROFESSIONAL AND NICE TO THEIR CUSTOMERS BECAUSE IF THERE WOULD NOT BE PEOPLE LIKE US THEY WOULD NOT HAVE THEIR BUSINESSDesired Settlement: WE SHOULD NOT PAY ANOTHER $495 FEE IF WE ALREADY PAID OVER $800 PROCESSING FEE WHICH INCLUDED LIEN/TITLE FEE

Business

Response:

The clear language on the 1st page of the Commercial Promissory Note signed and initialed by the customer states:"Debtor further acknowledges a contractual obligation to compensate Holder upon demand for reasonable costs incurred with the initial processing, termination processing or any amendment of this Note, not to exceed $850.00 for each separate event."The debtor did pay $495.00 as initial processing fee as provided for above upon commencement of this contract. Debtor also paid $310.00 as a registration fee which is provided for in a separate clause of the contract. This fee is not part of the processing fee quoted above. Now at the maturity of this contract, debtor was charged a $495.00 termination processing fee (aka closing fee) as provided for above. While $495.00 is not specifically referenced in the contact, it is less than the $850.00 that the contract allows per event. Debtor seems to imply that the term "termination" used in the contract means only "early termination". However it simply means the end of the contract, regardless of how it is reached.We take offense to the complaint that we are lying regarding our fees. The debtor contacted Keystone and the above was explained to her. She complained about the "little print" that is actually on the face of the contract in the same size font as all other text and in bold. The debtor terminated the conversation at that point. Our representative was willing to work and discuss this with the debtor, however the debtor was unwilling to continue the conversation.Keystone remains willing to discuss this fee with the debtor.

Consumer

Response:

this business was not willing to discuss, they just kept telling me, it is what it is, it has to be paid, and at the beginning when we sign the contract, I asked about termination fee, and was told that its only if you terminating your contract before maturity, nothing was said about that it is closing fee.....and CLOSING and TERMINATION has 2 different meanings, and that is how they are making customer confused, and when I spoke to Bill yesterday, he wasn't referring to the first page of the contract, he was referring to something else, after I told him that we are not terminating anything, everything is paid off, and to change the title in our name does not cost $495, we can go to the DMV and do it ourselves for $80, we already have our truck paid off, paid processing fee also, but there was not such thing as to paying $495 to change the title in our name, it is ridiculous, especially when its not directly listed in contract, which it should. I never complained about paying processing fee, or 310 lien/title fee ( which I was told back then is the charge to process the title and lien putting on and off), now I have to pay for the same thing again, I think its really unfair. If the company willing to communicate and work with us , we want it to be done through here so it will in writing.

Business

Response:

The parties have reached a mutually agreeable resolution to this matter and are closing the account on good terms. Our customer has agreed to remove the complaint.

Consumer

Response:

The

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.

Sincerely,

Review: I would like to file a complaint against:Keystone Equipment Finance Corp[redacted].I am a 31 year old youg man attempting to start my first business. I contacted Keystone to obtain financing to purchase some equipment/truck. Throughout the entire negotiation process I feel I was not fully advised/informed of the terms and penalties involved in paying the loan before the end of the term. I have since secured financing with another institution and Keystone is attempting to charge absurd fees and penalties for paying the loan off.Desired Settlement: Would like to Pay my debt with reasonable fees associated.

Business

Response:

Keystone Equipment Finance Corp entered into a 48 month

finance contract with the entity filing this complaint on August 15, 2013. We

disagree with Mr. [redacted]’s accusation that the early termination fee was not

disclosed because the he in fact negotiated terms that are more favorable than

what is typically offered under Keystone’s standard contract. These terms were

fully disclosed on page one of the contract.

Our representatives have reached out to Mr. [redacted] in an

effort to further negotiate the termination of this contract. Unfortunately,

Mr. [redacted] refuses to work with us to find a solution that is acceptable to both

parties. Keystone is not a short-term lender.

We would also like to add that the entity that

contracted with our company is in technical default of its contract because it

has failed to properly register the vehicle and record Keystone’s lien on the

title.

Review: WE ARE ASKING FOR A COPY OF LOAN CONTRACT AND THEY REFUSE TO PROVIDE THAT TO US. WE NEED THE INFORMATION TO FILE OUR TAXES. THEY ASKING FOR MONEY.

THEY ARE ASKING FOR MORE MONEY THEN THE CONTRACT DEMANDS. THEY WILL NOT RELEASE OUR TAX INFORMATION.

WE NEVER MISSED A PAYMENT AND ARE UP TO DATE ON OUR LOAN CONTRACT.Desired Settlement: WE WOULD LIKE A $1000 DOLLARS BACK CAUSE THEY ARE CHARGING MORE THAN REQUIRED. THEY HAVE COST US TIME AND MONEY.

Business

Response:

Business Response /* (1000, 5, 2013/08/22) */

Keystone Equipment Finance Corp. is a secured commercial equipment lender. In July 2012, Keystone entered into a finance agreement with [redacted] & [redacted] Inc to finance a vehicle. As part of the finance agreement, the borrower was required to record Keystone's lien on the title when the vehicle was registered. Our search of IL motor vehicle records indicate Keystone's lien was not recorded. Without the lien, Keystone is an unsecured creditor and risks financial loss if customer disposes of the equipment. Since December 2012, our company has been repeatedly trying to get borrower to secure lien but to no avail. Keystone has lived up to the terms of the loan agreement by providing the borrower funds to purchase the equipment. We only ask that the customer upholds his part of the agreement by securing our lien.

Borrower states Keystone failed to provide them with tax information. This is not correct. Keystone provided relevant tax information to ALL of its customers on their February billing statements which were mailed on January 11, 2013.

Review: I purchased a vehicle from [redacted] Truck Sales in [redacted] on 7-7-15 Keystone Cashed the Bank Draft om 7-9-15.I went to [redacted] to look at the vehicle found the vehicle not to be "ROAD READY" as advertised. I called the Sales Rep. in [redacted] to inform her that the vehicle had some repair concerns, she informed me wait and speak with the Vehicle Sales Manager when she return on 7-20-15. I called her on Monday 7-20-15 and she informed to take the vehicle to Freightliner of [redacted] to get the vehicle repaired, I did that. I called the Vehicle Sales Manager and told her that I was giving the truck back due to repair problem.I called Keystone Equipment Finance Corp. and informed the finance consultant that I wanted to return the equipment back to [redacted] and to cancel the loan. He informed me that he had to get permission from[redacted] to refund my money. During this time I was told that Keystone has not paid [redacted] for the vehicle but still had to get there permission to give me my deposit. I spoke to the finance consultant to ask since I was already approved could I seek elsewhere to find another company , He told [redacted] that I wanted to buy another vehicle from another vendor. I feel that what was done was not professional at all.Desired Settlement: Please return my deposit for the vehicle.

Business

Response:

Keystone has taken steps to rectify Mr. [redacted] situation. We hope, in the very near future, he will report that the transaction was closed to his satisfaction.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.

Sincerely,