TimePayment Corp.

TimePayment’s Legal Department has received your Revdex.com complaint and we have located and reviewed your file accordinglyOur findings and feedback are belowYour complaint asserts that TimePayment Corphas been uncooperative in providing you with the Certificate of Origin or the Title for the “ [redacted] ” that is listed on the Lease Agreement in question (Account No [redacted] )You are requesting that we provide you with the requested paperwork so that you can register the equipment with Mass DOTUnfortunately, TimePayment Corpis not in possession of the Certificate of Origin or the Title for the equipmentAs previously explained to you, the Certificate of Origin was in the possession of the equipment vendor ( [redacted] ***.) and was originally mailed to you at [redacted] in [redacted] , MA [redacted] (“***”) previously advised that the Certificate of Origin was sent to [redacted] because that is the address that the equipment was delivered toYou later advised that [redacted] was not an address that belonged to you or your business and that you had only borrowed a loading dock located at that address in order to accept delivery of the equipmentYou then requested that the Certificate of Origin be re-sent to the correct address as the original could not be locatedOn May 7, [redacted] informed TimePayment that they had obtained a second Certificate of Origin from the Manufacturer for the equipment and had shipped it to your correct physical address via ***, with tracking number [redacted] For your convenience, I have attached a copy of the “Proof of Delivery” from ***, showing that the delivery occurred on May 8, at [redacted] in [redacted] , MA and was signed-for by an individual identified as “BUSA”TimePayment understands that the Certificate of Origin is required in order to obtain the Title to the equipmentIn order for us to sign the Title to the equipment over to you, we first need to receive the aforementioned documentIf you are unable to locate the Certificate of Origin that was delivered to your business in May of 2014, we encourage you to follwith the equipment vendor or Manufacturer in an attempt to obtain a third copy.While we are not able to provide you with the Certificate of Origin or the Title, we are currently in the process of filing a UCC Termination in regard to the equipmentWe sincerely apologize for any inconvenience that you have experienced in regard to this transaction, however we are limited in our ability to assistPlease contact [redacted] ***at ###-###-#### to request either another copy of the Certificate, or the Manufacturer’s contact informationShould you have any questions relating to the Lease Agreement itself, or your account status, please do not hesitate to contact our Customer Service Department at our toll-free number

TimePayment would like to take this opportunity to better explain our role in this transaction, as well as the terms of the contract that you have with us.   TimePayment is a finance lessor of business equipment, as is more thoroughly described under section 2A of the Uniform Commercial Code....

Our only role in this transaction was to purchase equipment of your choosing, from an independent equipment vendor of your choosing ([redacted] Group Inc.), to then lease that equipment back to you for a mutually-agreeable monthly amount.   TimePayment first received your credit application on September 12, 2017, from a third-party broker, [redacted] LLC. TimePayment Corp., [redacted] LLC and [redacted] Group Inc. are three completely separate companies – we do not share employees, profits, offices or anything else.   After your application was approved, the Non-Cancelable Commercial Equipment Lease Agreement (“Agreement”) was sent to you, via email, to sign electronically. Records reflect that you placed your electronic signature on the Agreement on September 14, 2017. A copy of the Agreement is attached, for your review. On September 15, 2017, TimePayment conducted a verification telephone call with, wherein you confirmed that you understood that you had signed a Non-Cancelable Commercial Equipment Lease Agreement for a base monthly amount of $68.73 (plus applicable taxes and fees) for 57 months. At no time during that telephone call did you indicate that you believed the monthly fee to have been for less money.   Following the successful completion of the verification telephone call, TimePayment paid the vendor for the equipment and commenced the Agreement. Your current monthly payment totals $84.75 – this figure is comprised of the following: Base monthly payment: $68.73; Sales tax: $6.19; Property Tax: $1.83; Loss or Destruction Waiver Fee: $8.00. You may have the Loss or Destruction Waiver Fee removed from the Account at any time, by providing a copy of a valid insurance binder.   TimePayment has never represented that the monthly payment would be for less than $50.00. As stated, your regular monthly payment is $84.75 – any amounts that you have been charged in excess of that amount are the result of collection-related fees.   Any questions related to the voltage of the equipment will need to be discussed with the vendor directly, as TimePayment is simply the finance lessor, and is unable to answer equipment-related inquiries.   You were given ample opportunity to review the Agreement and determine that its terms were not satisfactory to you, prior to signing. The Agreement commenced on September 20, 2017, and cannot be cancelled at this time. We apologize that we cannot be of further assistance in this matter. Please do not hesitate to contact our Customer Service Department with any additional questions or concerns that you may have with regard to the account.

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.

TimePayment employed a third-party asset recovery company to recover the equipment. On April 8, 2015, that company received three (3) of the eleven (11) pieces of equipment that are listed on the Lease Agreement. Those pieces included: (1) Hot Towel Cable, (1) Sterilux XL 110V and (1) DermaPod (which arrived missing important accessories). TimePayment immediately notified [redacted] that several pieces were missing – subsequently, on April 29 2015, the third-party asset recovery company received (1) Combo Cirrus 500. Pieces that remained missing were: (1) Crystal Free Handle, (1) Stool with backrest, (1) ML 400 White, (1) Germicidal Neon Lamp for Sterilux XL, (1) T3 Auxiliary table and (2) Plate and Power Bar 100V. TimePayment considered the missing equipment a loss, and re-sold the pieces that we were able to recover.   As previously stated, TimePayment’s method for calculating The Fair Market Value (“FMV”) of the equipment is described in section 5. The FMV is not arbitrary, as it is clearly and accurately described within the terms of the Lease Agreement. As determined by TimePayment, the FMV of the equipment on Agreement No. 32982209 was $3,019.92 (exactly 10% of the aggregate lease payments). In the event that equipment is repossessed or prematurely returned to TimePayment, our Asset Department will attempt to recover the largest possible re-sale profit for that equipment.   If we are able to sell the equipment for an amount greater than the FMV, then the FMV amount is deducted from the account’s buyout amount entirely, and the account is credited with the amount that we collected in excess of the FMV. If we are not able to recover an amount greater than the FMV, then the FMV amount is still deducted from your buyout entirely, but no additional credits are due to the account (as was the case with Agreement No. 32982209 for [redacted]).   The benefit to the Lessee in returning the equipment, is that you are no longer responsible for paying the FMV of the equipment – that amount is deducted from your account’s buyout amount, once the equipment is returned to TimePayment. You will, however, remain responsible for any remaining lease term obligations, as well as all open, unpaid invoices.   We sincerely apologize if you feel as though our collection efforts have been harassing or threatening, as this is not our intention. We urge you to contact our Lessee Relations Department at our toll-free number, 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.

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]

TimePayment has reviewed your account, and we would like to take this opportunity to better explain the terms of your Non-Cancelable Commercial Equipment Lease Agreement – a copy is attached, for your review.  Records reflect that, in February of 2016, you entered into a Non-Cancelable...

Commercial Equipment Lease Agreement (“Agreement”) with TimePayment Corp., via the independent equipment vendor, [redacted], for the leasing of [redacted] equipment. Per the terms of the Agreement, you agreed to pay a base monthly amount of $178.56 for 45 months.  In your complaint, you have indicated that you are dissatisfied with “paying for services not provided and equipment unusable”. Please be advised that no services are included in your Agreement with TimePayment. As this is an equipment lease agreement, TimePayment is billing you for the leased equipment only.  With regard to your complaint related to the functionality of the equipment, please refer to sections 11 (“Maintenance of Equipment”), 12 (“Disclaiming of Warranties”) and 13 (“Equipment Servicing”). In essence, these sections of the Agreement state that TimePayment, as only the finance lessor (as is more thoroughly described under UCC 2A), does not provide servicing or warranties of any kind. By signing the Agreement, you have agreed to maintain the equipment in good operating and physical condition, at your own expense. Further, you have acknowledged your understanding that no servicing of any kind is provided by TimePayment, and that any failure of the equipment is no basis for non-fulfillment of your obligations under the Lease.  Additionally, our records indicate that your account was removed from automatic payments on September 22nd, after three (3) separate attempts to withdraw payment failed. Please be advised that you signed the Agreement as a Personal Guarantor, and any late payments may have a negative impact on your personal credit. Also, on July 22nd, you spoke with a TimePayment representative, and indicated that you may not have signed your own name to the Agreement. Subsequently, a Forgery Questionnaire was sent to you, for you to complete and return to our Legal Resolutions Department in order for the claim to be investigated. The Questionnaire was never returned, and the claim was assumed resolved. If you still wish to pursue that claim, please complete the attached questionnaire and return it to TimePayment (along with the additional requested documents) so that we may thoroughly investigate the matter.  Unfortunately, for the reasons mentioned herein, we are not able to refund any of the payments received on this account, nor close the account for payments received. If you wish to return the equipment to TimePayment, you may do so by shipping it to our office in [redacted], MA. Please be advised that returning the equipment will not void or nullify the contract, nor your obligations as outlined therein.

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted].
I appreciate the response first of all. The agreement that I entered was for me to purchase the equipment after the lease is over. I remember talking to [redacted] from [redacted] about that. It even states that in the lease agreement under the payment terms section which also says that i'm obligated to pay what is stated in the schedule of payments and can buy the equipment after the lease is over for the fair market value of $440.37 which does not exceed 3 months worth of monthly payments. I see why they are saying that, but the fact that they were unwilling to show a monthly statement online and are extremely hard to reach is very shady. Please understand, as a consumer, where I am coming from and why I am frustrated. I will be taking action to finishing this "lease" as soon as humanly possible.
Regards,
[redacted]

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted].  
Dr. [redacted] is responsible for me being in [redacted] behavioral hospital when the lathe was delivered making me unable to inspect it. It is her responsibility to pay for any contractual damages. She did it because I don't know how powerful she is so she arranged for me "to be brought to a psych Hospital and tortured every time I need health care". A powerful woman like that should have no problem paying for $4,000 or $5,000.
Regards,
[redacted]

TimePayment’s Legal Department has received your Revdex.com complaint and we have located and reviewed your file accordingly. Our findings and feedback are below. In your complaint, you have indicated that you recently signed an Equipment Lease Agreement with TimePayment Corp., but feel as though the...

contract terms were misrepresented to you. Specifically, you have stated that TimePayment “did not disclose the full price of the equipment nor the percentage rate which [you would] be paying in the long run.” Further, you have claimed that you attempted to cancel the contract within two (2) hours of signing. You are requesting that the Lease Agreement be cancelled.On April 27, 2015 you signed a Non-Cancelable Commercial Equipment Lease Agreement for your business ([redacted] D/B/A Johnson Lawn Care and More) with TimePayment Corp. for 57 months, at a base monthly rate of $180.25 per month, plus applicable taxes, tax processing fee and Loss or Destruction Waiver fee (as disclosed on page 1, in Box “A”). Please be advised that TimePayment Corp. acted solely as a finance lessor (as it is described under [redacted]), extending credit to you in the form of a lease after receiving and approving your electronic credit application. TimePayment Corp. is an Equipment Leasing Company and does not charge interest (as implied by the term ‘percentage rate’ in your complaint). Our only role in this transaction was to purchase equipment of your choosing from the independent vendor to lease back to you for the previously agreed-upon monthly dollar amount. At the bottom of page one (1) of the Lease Agreement, you also signed a section titled “Delivery and Acceptance Confirmation”, which states: “By signing below, I agree that I have instructed Lessor to purchase the Equipment on my behalf immediately. The Equipment has been ordered, and either has been or will be delivered as I requested. I hereby waive the opportunity to reject the Equipment or revoke acceptance under [redacted] and unconditionally accept same, whether I am in possession of the Equipment or not. I signed this Lease at the equipment vendor’s storefront location. I understand that upon signing this Lease and Delivery and Acceptance Confirmation, my obligations under the Lease are binding and irrevocable. Lease Payments will commence on the date set forth above, whether or not I am in possession of the Equipment.”Upon receipt of your signed Lease Agreement and Delivery and Acceptance Confirmation, TimePayment Corp. purchased the equipment from [redacted] and commenced the contract. Our records support your claim that you called our Customer Service Department after the vendor had been paid and requested to cancel the contract. Unfortunately, because this is a Commercial Lease Agreement, there is no “Buyer’s Right to Cancel” period – the contract commenced immediately after the vendor was paid on April 27th. By signing the Non-Cancelable Commercial Equipment Lease Agreement as a Personal Guarantor (and on behalf of your business), you represented to TimePayment Corp. that you had thoroughly read and understood the terms of the contract that you had signed. We ask that you refer to the top, left corner of page one (1), which states in bold font: “This is Lease Agreement between TimePayment Corp. and the Lessee. Lessee acknowledge 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.”Additionally, please refer to the section titled “Agency Disclaimer” on page 2 of the Lease Agreement, which states: “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.”To address your claim that TimePayment Corp. did not properly disclose the terms of the contract to you, we ask that you refer to page one (1), box “A” (“Schedule of Payments”), which states: “BASE MONTHLY PAYMENT: $180.25 FOR 57 MONTHS (PLUS TAXES AND TAX PROCESSING FEE, AND LOSS AND DESTRUCTION WAIVER IF APPLICABLE, AS DESCRIBED IN SECTIONS 16 AND 17 OF THIS LEASE AGREEMENT). FAIR MARKET VALUE: $540.75.” It is TimePayment’s position that all costs and fees associated with the Lease Agreement were properly and accurately disclosed to you prior to commencement of the contract. It is also our understanding that you have received and been using the equipment that is listed on the contract. For the reasons listed herein, this Lease Agreement remains legally valid and enforceable. For your convenience, I have attached a copy of the Lease Agreement referenced herein. TimePayment values our customers and we sincerely apologize that we cannot be of further assistance in this matter. Should you have additional questions relating to billing or fees, please do not hesitate to contact our Customer Service Department at [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]  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]

TimePayment Corp.’s Legal Resolutions Department has received your Revdex.com complaint and had the opportunity to review your account history. Our records indicate that you were mailed a Forgery Questionnaire on March 6, 2015 after informing our company that you had not signed certain pages of the Lease...

Agreement. We received your completed Forgery Questionnaire and accompanying official documents containing your signature more than two (2) months later, on June 19, 2015. Upon receipt of your completed Forgery Questionnaire and supporting documents, we opened an investigation into this claim. We ask that you allow at least thirty (30) days for our investigation into this matter to be completed. Thank you for your patience.

TimePayment would like to take this opportunity to clarify our role in this transaction, and to provide explanations for some of the confusion outlined in your complaint. As an initial matter, please be advised that TimePayment Corp. [redacted] Financial LLC and [redacted] are three (3)...

completely separate companies. We do not share employees, profits, offices or anything else. TimePayment's only role in the transaction was that of a finance lessor (as is more thoroughly described under UCC 2A). We purchased the equipment from the equipment vendor, at your request, to lease back to your for a mutually-agreed-upon monthly amount. On October 15, 2015, TimePayment received your electronic credit application from the independent broker company, [redacted]. Your application was approved and the Non-Cancelable Commercial Equipment Lease Agreement (“Lease”) was sent to you, via email, on October 21, 2015. You reviewed the document, signed and returned it to TimePayment on the same day. I’ve attached a copy of the Lease, as well as the electronic record tracking document, for your review. In accordance with the Lease, [redacted], as the Lessee, entered into a non-cancelable agreement for the leasing of commercial lighting equipment on November 5, 2015. You, as well as another individual, signed on behalf of the Lessee, and as Personal Guarantors. Per the Lease, you agreed to submit 33 monthly payments of $146.79 (plus applicable taxes and fees) for the leasing of the equipment that is described in greater detail on page 4 of the Lease. Prior to paying the equipment vendor, [redacted], for the equipment and commencing the Lease, TimePayment conducted a recorded verification telephone call with you on October 21, 2015 – during which, you confirmed that you understood the terms of the Lease that you had signed. At no time during that telephone call did you dispute the terms of the Lease. On November 5, 2015, you completed a second recorded verification telephone call (with [redacted]), during which you confirmed that you had received the equipment and were satisfied with it – furthermore, you again confirmed your understanding of the Lease terms, without dispute. On October 21, 2015, TimePayment mailed you a copy of the Lease, accompanied by a welcome letter, which urged you to contact us should the enclosed not be your understanding of the contract that you had signed.  On November 10, 2015 TimePayment mailed another letter, summarizing the terms of the Lease and urging you to review these terms and contact us with any questions. At no time thereafter did TimePayment receive a telephone call from you, indicating that you had not understood the terms that you signed for. Copies of both letters are attached, for your review. It is TimePayment’s position that you were provided ample time to review the terms of the Lease and decide not to proceed, if you were not satisfied. You elected to sign the Lease, and complete the two (2) recorded verification telephone calls in order to commence the Lease. Further, you accepted delivery of the equipment, and have benefited from, and used, the equipment for more than a year. You have ratified the Lease by submitting 10 of the requisite 33 monthly payments, to date. The reason that you are not receiving monthly billing statements, is that you elected to have your account setup on automatic payments. If you would rather receive monthly statements, then you may change your payment election by logging into your online account, or by contacting our Lessee Relations Department at our toll-free telephone number. Please be advised that a $5 statement fee will be billed to your account for each statement that is mailed. Our records indicate that you called our Lessee Relations Department on September 15, 2016 to discuss several of the questions and concerns mentioned in your complaint, and that the representative whom you spoke with provided accurate responses to each, as well as provided you with information for setting up your online account. To reiterate the details of that conversation, please be advised that the contract that you have entered into with TimePayment is a Lease Agreement, and not a loan. You had the option to purchase the equipment for the retail value, prior to signing the Lease – however, you elected not to purchase the equipment, and to lease it from TimePayment instead. As such, the original retail value of the equipment is irrelevant to the amount that is owed to TimePayment under the terms of the Lease. In response to your request for full disclosure, your current monthly bill is comprised of the following: base monthly payment: $146.79; Sales tax: $13.51; Property tax: $6.43; Loss or Destruction Waiver fee: $17.00 – your total monthly payment due is currently $183.73. This amount does not include any collection fees that may be applied to the account for things such as late or bounced payments. It is our sincere hope that our response to your complaint has clarified any confusion with regard to your TimePayment Account. If you do decide to retain and attorney with regard to this account (as stated in your complaint), then please provide us with their contact information so that our in-house Legal Department may correspond directly with them.

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. This is a ripoff, who leases a furnace that's already paid for and then buys it after the lease is up? That's just crazy, I've been all over the web reading thousands of consumers complaints against your company. You have hem by the short hairs by suing them for non payment. This is wrong, this is injustice, a hearachy of a multi million dollar corp. that's already fat, [redacted] the life blood out of consumers. I talked to [redacted] and they point their finger at you. I will not adhere to this conditions without my lawyer going over your contact and following her advice.
Regards,
[redacted]

As previously stated, TimePayment received your electronic credit application from an independent equipment vendor. As such, we must first investigate the matter before being able to definitively determine whether or not identity theft has occurred.   Once the Forgery Questionnaire is received by our Legal Resolutions Department, it will be assigned-to (and investigated-by) a representative. You will receive a letter, once the investigation has commenced, and may contact the representative assigned to your account with any questions, or for updates.   You will receive another letter at the conclusion of the investigation, informing you of the findings and outcome. We appreciate your patience and cooperation during this process.

TimePayment’s records indicate that you entered into a [redacted] (“Agreement”) with our company on July 2, 2015 for the leasing of “[redacted]”. Your complaint asserts that you are dissatisfied with the equipment that you received, and that you have attempted to...

cancel the Agreement, repeatedly. You have further stated that TimePayment has been mailing billing statements to the incorrect address. Finally, you are requesting that the equipment be removed from your home.   As an initial matter, please be advised that TimePayment Corp. and the vendor who provided and installed the equipment, [redacted] Marketing d/b/a [redacted], are two completely separate companies. We do not share employees, profits, offices or anything else. TimePayment is a finance lessor, as is more thoroughly described under UCC 2A. Our only role in this transaction was to purchase equipment of your choosing from the equipment vendor to lease back to your for a mutually agreed-upon monthly payment amount.   Records indicate that you signed three (3) separate documents on June 27, 2015 – the Consumer Equipment Lease Agreement; the Buyer’s Right to Cancel Notice; and the Delivery and Acceptance Form. The Agreement states, on page 1, that you have agreed to submit 60 monthly payments of $59.92 to TimePayment in connection with the Agreement. The Buyer’s Right to Cancel Notice provided you with three (3) business days to cancel the transaction before your obligations (as outlined in the Agreement) would become irrevocable. The Delivery and Acceptance Form confirmed that you understood the terms of that agreement that you had signed, and that you had received the equipment and were satisfied with it. The Delivery and Acceptance Form further states, “No written or verbal alteration of this Lease Agreement is valid.” I have attached copies of all 3 documents, for your review.   Our records indicate that you called our Lessee Relations Department on December 21, 2015 and requested that the billing address on file be updated. TimePayment complied with your request, and the address that we now have on file matches that which you have used in connection with your Revdex.com Complaint. With that being said, recent notes indicate that we continue to receive returned mail with regard to your account. Please contact our Lessee Relations Department at your earliest convenience to assist us in correcting any discrepancies.   While your complaint asserts that you have “tried repeatedly to cancel” the Agreement, beginning shortly after commencement, our records do not support this claim. The Agreement commenced on July 2, 2015, after your 3-day Buyer’s Right to Cancel had expired without being exercised. You made no mention of wanting to cancel the Agreement until February 2, 2016, when you called our Lessee Relations Department. Unfortunately, at this point, the Agreement may only be canceled once the remaining 51 requisite monthly payments have been made, and the equipment has either been purchased for the fair market value, or returned to TimePayment.   We hope that our response has clarified any confusion with regard to the TimePayment’s role in the transaction, or with the terms of the Agreement. Please do not hesitate to contact us at our toll-free number with any additional questions or concerns.

After speaking with your attorney on Thursday, April 30th in regard to the Revdex.com complaint that you have filed against TimePayment, we have obtained authorization to respond to the concerns mentioned. Your complaint first asserts that TimePayment withdrew funds from your company’s bank account, via automatic monthly payments, without authorization. You have claimed that TimePayment Corp. was only authorized to automatically debit payments from your account for the initial Lease Term and it is your belief that, after your Leases “expired”, TimePayment would have had to obtain a new signed ACH Authorization Form. You have further claimed that TimePayment collected $7,000 in unauthorized debited payments over a period of six (6) months, when you believed the Buyout Amount on your accounts to be a combined total of $5,000. Last, you are disputing the current Settlement Offer of $3,000 (to close both accounts) and are demanding a refund of $2,000. First, please be advised that TimePayment has never automatically debited any payments from your personal or company bank accounts in regard to Lease Agreement Account No. [redacted] as we never received a signed ACH Authorization Form in regard to that account. Our records indicate that all payments received in regard to Account No. [redacted] were paid via regular and direct check after our representatives received verbal authorization to process payments over the phone by various representatives of Popular Brokerage Corp. To address your complaint that TimePayment automatically debited payments without consent in regard to Lease Agreement Account No. [redacted], please refer to page one (1) of the Lease Agreement (attached hereto). The top right corner of the document contains a box titled “Automatic Debit option Only for BUSINESS Checking Accounts” – it states: “BY SIGNING BELOW ON BEHALF OF THE LESSEE, I CHOOSE TO HAVE THE MONTHLY LEASE PAYMENTS AND OTHER AMOUNTS OWED UNDER THE LEASE FROM TIME TO TIME AUTOMATICALLY DEBITED FROM THE CHECKING ACCOUNT SHOWN ABOVE WHEN DUE. YOU AND YOUR AUTHORIZED AFFILIATED ARE AUTHORIZED TO DEBIT FOR THIS PURPOSE. I REPRESENT AND WARRANT ON BEHALF OF THE LESSEE THAT THIS CHECKING ACCOUNT HAS BEEN ESTABLISHED AS A BUSINESS PURPOSE CHECKING ACCOUNT AND IS NOT USED FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES. ATTACH A COPY OF A VOIDED CHECK TO THE LEASE AGREEMENT.” Additionally, you signed a separate document which further authorized “EFT Direct Payment”, which states: “By signing below, I, as Lessee or Lessee’s representative, have chosen to make all payments owed by Lessee under the Agreement by the method selected below and authorize my Bank or credit card company shown below to: A) debit my checking account if I have selected EFT Direct Payment – Option A; or B) charge my credit card if I have selected Option B, to pay TimePayment Corp., or its assignee on the payment due date, the Total Monthly Payment owed by Lessee each month under the Agreement (which amount may vary per the Agreement), together with any other amounts Lessee owes including past due amounts or default charges. I agree that if a Total Monthly Payment or other amount cannot be collected for any reason when due, that continued attempts may be made to debit or charge the designated account for the amount owed until payment in full has been received. I agree to maintain a deposit or credit balance in the designated account sufficient to make all Total Monthly Payments when due and also to pay for any other amounts owed under the Agreement, including past due amounts and default charges, if any. I understand that the Automatic Payment Method selected by me will remain in effect until cancelled by your or me. If the Automatic Payment Method is cancelled, I/Lessee will owe a $50 cancellation fee and Lessee will be charged a statement fee per the Agreement.” Automatic Payments were disabled for Account [redacted] on November 14, 2014 at your request. For your convenience, I have attached copies of both Payment Authorization Forms, as well as a copy of the voided check that was provided along with the ACH Authorization. While we understand that you believe any authorized ACH transactions should have ceased at the end of the Initial Lease Term, this contradicts what is stated in the Lease Agreement and in the End of Term Letter that was mailed to you. Specifically, section 5 of the contract (“End of Lease Term”) states: “At the end of the original Lease Term I have the following options: 1. I can promptly return the Equipment in good condition, except for ordinary wear and tear, to you or to the person and place you indicate, or 2. I can extend the lease for the same terms and conditions as stated herein on a month-to-month basis until such time as I give you written notice that I elect to terminate the lease at least 30 days prior to such termination and return the Equipment, or 3. Upon my request I can purchase the Equipment for the fair market value as quoted by you at that time plus any applicable taxes. The amount will not exceed 10% of the aggregate lease payments (i.e. the total of the base monthly payment due during the entire term of the Lease). Unless I notify you in writing of which option I choose 30 days prior to the expiration of the Lease Term, I shall be deemed to have chosen option 2 (Month-To-Month Rental)…”On January 21, 2014, TimePayment mailed you a letter outlining your end of lease term options in regard to Account No. [redacted]. On April 22, 2014, TimePayment mailed you a letter outlining your end of lease term options in regard to Account No. [redacted]. Those letters stated: “This letter is to inform you that there are two months remaining on the initial term of your agreement. In accordance with the terms of your agreement, you have the following options at the end of the initial agreement term: (1) you can promptly return the equipment, in good condition, except for ordinary wear and tear, to us by the end of the initial term of the contract (30-Mar-2014 for Account [redacted] and 30-Jun-2014 for Account [redacted]) or (2) you can extend the agreement under the terms and conditions stated in the agreement on a month-to-month basis until such time as you give written notice that you elect to terminate the agreement at least 30 days prior to such termination and you return the equipment to us or (3) you can purchase the equipment for the fair market value as quoted by us at the time of termination plus any applicable taxes. Unless you notify us in writing of the option that 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) above.” I have attached copies of these letters, as well as the Lease Agreements, for your review.Our records indicate that your accounts automatically transferred over to “Month-To-Month Rental” (per the terms of the contracts) on March 10, 2014 for Account [redacted] and June 10, 2014 for Account [redacted] after you failed to notify us in writing of which End of Lease Term Option you had chosen, failed to return the equipment and/or failed to pay the Buyout Amounts on the respective accounts. For this reason, neither of your accounts “expired” as they simply continued, per usual, on a month-to-month rental basis. To date, TimePayment has not received Buyout Payments in regard to either account referenced herein, and both accounts remain in Month-to-Month Rental status. The current Buyout Amount for Account [redacted] is $6,935.49. The current Buyout Amount for Account [redacted] is $6,459.88. In an effort to amicably resolve this matter, TimePayment Corp.’s Associate Attorney, [redacted], previously presented an offer to your attorney to settle both accounts for a combined total of $3,000 (an offer which you have rejected). Because TimePayment remains willing to amicably resolve this dispute, on April 30th we presented a new offer to your attorney and asked that he review it with you. Please contact your attorney at your earliest convenience and ask him to communicate your ultimate decision to [redacted] before the close of business on Friday, May 8, 2015.

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.

TimePayment Corp.’s Legal Department is in receipt of your complaint, and your requests for additional documentation pertaining to your account. We would like to take this opportunity to address your concerns and provide relevant documents.   As an initial matter, we would like to better...

explain our role in this transaction, as the leasing company. TimePayment Corp. is a finance lessor, as is more thoroughly described under UCC 2A. Our only role in this transaction was to purchase equipment of your choosing from the equipment vendor of your choosing, in order to lease that equipment back to you for a mutually-agreed-upon monthly amount.   On November 2, 2011, you signed the TimePayment Non-Cancelable Commercial Equipment Lease Agreement (“Agreement”) for 60 months, at a base monthly amount of $503.32, via an independent broker company (Beneficial Capital Leasing), instructing TimePayment to purchase equipment on your behalf from the independent vendor company ([redacted].). You signed the Agreement as a “Member”, on behalf of the Lessee ([redacted]), and also as a Personal Guarantor. Our records reflect that you were dissatisfied with the equipment at the time of receipt, in November of 2011. Subsequently, TimePayment stopped the lease commencement process and you worked directly with the broker and vendor companies to resolve any issues. You did not have an active account with TimePayment at the time that you assert the equipment was malfunctioning.   TimePayment did not commence the Agreement until December 27, 2011, after you and an individual named [redacted] confirmed via a recorded verification telephone call that you were satisfied with the equipment, that you understood the terms that you had signed-for and that you were ready to move forward with the Agreement. TimePayment did not commence the Agreement, nor request any payments, until December 27, 2011 - after you had confirmed that you were satisfied and ready to move forward. Any issues that existed between your company, the broker company and/or the vendor company prior to the commencement of the Agreement are outside the scope of the Agreement and have nothing to do with TimePayment Corp.   With regard to your complaint relating to equipment repairs – we urge you to review sections 11 (“Disclaimer of Warranties”) and 12 (“Equipment Servicing”) of the Agreement. In essence, TimePayment is not responsible for equipment servicing or repairs as we are only the financer of the equipment. Any services or repairs are the responsibility of the Lessee ([redacted]) and must be completed by a company qualified to perform such maintenance. Warranties must be discussed with the equipment manufacturer directly.   While there is no official document which displays the Fair Market Value of the equipment, TimePayment’s method of calculating the figure is outlined in section 5 (“End of Lease Term”) of the Agreement. Pursuant to section 5, the Fair Market Value amount will not exceed 10% of the aggregate lease payments. Your aggregate lease payments total $30,199.20 – making the Fair Market Value of the equipment $3,019.92.   When the equipment was returned to TimePayment in April of 2015, some components were missing. Unfortunately, the amount of money that TimePayment’s Asset Department was able to net from the resale of the equipment was significantly less than the Fair Market Value of the equipment. For this reason, no credit was posted to your account (please refer to section 8, “Default B”).   You have further asserted that, in September of 2013, a TimePayment representative intentionally lied to representatives of your company ([redacted]) and informed them that you had requested for the equipment to be picked-up. Our records indicate that our Asset Department erroneously contacted a representative of [redacted] named [redacted] in September of 2013 to discuss her alleged request for the equipment to be picked-up. [redacted] clarified that she had not made such a request, and the matter was not pursued any further at that time. As stated in your complaint, TimePayment’s Lessee Relations Manager, [redacted], sent an email (at your request) apologizing for any confusion.   Pursuant to section 3 (“Credit Inquiries and Credit Reporting”) of the Agreement, TimePayment is authorized to provide payment history information to the credit bureaus. In compliance with the Fair Credit Reporting Act, 15 U.S.C. § 1681 (“FCRA”), we are obligated to report honestly and accurately to the credit bureaus regarding our credit experience with you. It is TimePayment’s position that any negative payment history that is reflected on your credit reports is the result of late or missed payments, and cannot be removed.   Per your request, I have attached copies of all monthly billing statements which have generated in connection with your account. As you are aware, billing statements do not generate for any months during which your account was setup on automatic payments. After your account fell more than 1 year past-due, the balance was automatically accelerated and statements stopped generating.   This Account’s current monthly lease payment of $503.32, multiplied by the remaining 25 payments, totals $12,583.00. This amount does not include the late fees, billing statement fees, collection fees, and bounce fees (if applicable), which have been applied to this Account since it entered into default. For a more detailed summary of collection costs and fees, please refer to section 6 (“Late Payments and Collection Costs”). For your records, I have also attached copies of the account’s cash receipt and invoicing histories.   We sincerely hope that our response has appropriately addressed your concerns. For assistance accessing your account online, please call our Lessee Relations Department at our toll-free number.

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does 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]