TimePayment Corp.

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.

TimePayment would like to apologize for any misunderstanding related to your Consumer Equipment Lease with us, and we would like to take this opportunity to better explain the terms of the contract.   On January 4, 2016, you signed a Consumer Equipment Lease (“Lease”) with TimePayment, for...

the leasing of HVAC equipment. As part of the Lease, you also signed a document titled, “Step Payment Amendment”, which allowed you twelve (12) months from the date of Lease commencement (which was January 8, 2016) to pay the full equipment cost buyout of $8,500.00. As stated in the Step Payment Amendment, if $8,500.00 was not received by the 12-month deadline (January 7, 2017), then you would be responsible for the full 69-month lease term (a total of $19,910.19). A copy of the Lease (complete with Step Payment Amendment document) is attached, for your review.     Records reflect that the full equipment cost buyout was not received by the January 7, 2017 deadline, and still has not been received to date (July 12th). We apologize if the terms of the Lease were not fully understood at the time of signing – however, it is TimePayment’s position that the terms are clearly stated within the pages of the contract. Since the full equipment cost was not received by the stated deadline, you are responsible for paying the Agreement’s original term.   Currently, the amount still owed under the terms of the Lease is $15,085.93. Please do not hesitate to contact us with any further questions or concerns related to your Lease.

TimePayment Corp. is in receipt of your complaint, and we would like to clarify the nature and terms of the contract that you had with us. On December 6, 2012, you entered into a Consumer Equipment Lease Agreement (“Lease”) with TimePayment, for the leasing of an [redacted]. Per the terms...

of the Lease, you agreed to pay $18.95 per month, for 36 months.   Pursuant to section 11 (“Return of Property”), you had two (2) options at the end of the initial lease term – you could (1) purchase the equipment from TimePayment, or (2) return the equipment to TimePayment at your expense. In the event that you elected not to purchase the equipment, and it is not returned to TimePayment, then you must continue to pay the lease payment each month, until the equipment is returned. I have attached a copy of the Lease, for your review.   Our records indicate that you submitted the final payment of your requisite 36-month lease term on December 30, 2015. However, because you had not purchased the equipment, nor returned it to TimePayment, the account continued billing on a monthly basis. The equipment was received by our Massachusetts office on July 6, 2016, and the account was closed accordingly.   It is TimePayment’s position that the terms are clearly stated in the Lease, and you were given ample opportunity to review the Lease before signing. We apologize if the terms were not understood, prior to commencement. Unfortunately, we are not able to issue a refund of shipping fees incurred during the equipment return process.

As stated in TimePayment’s initial response, pursuant to sections 11 (“Maintenance of Equipment”), 12 (“Disclaiming of Warranties”) and 13 (“Equipment Servicing”), TimePayment 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.   If you wish to return the equipment to TimePayment, you may do so by shipping it to our [redacted], Massachusetts office. Please be advised that returning the equipment will not void or nullify the contract, nor your obligations as outlined therein.   We apologize that we cannot be of further assistance with the equipment servicing and functionality issues.

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]. Tear up that worthless contract your lying representative is pedaling and stop calling my home and harassing an 86 year old woman. Your contract and your claim mean nothing because your representative lied saying [redacted] was gong out of business and switch to [redacted] and Time Payment.  I don't care if  Time Payment is just a collection company you should have a conscience and screen your business dealings.  A lie to get someone to sign a contract nullifies that contract.  Stop calling me and harrassing me at home.  I am not giving you a red cent.
Regards
[redacted]

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted].  
This company has a lease that wasn't signed by me and I don't trust the company with me signing any further documents. I mantain that the information on the lease enclose is not my mine address, Signature. I am filing a formal complaint with the  CFPB.
Regards,
[redacted]

Dear Ms. [redacted],   Please be advised TimePayment Corp’s Legal Resolutions Department is in receipt of your Revdex.com Complaint. I have taken the opportunity to review your complaint and your account with TimePayment. You have stated that you signed a contract with TimePayment for...

salon equipment on June 8, 2015, but that you were subsequently advised that the process could not move forward without a copy of your cosmetology license.  You state that you learned the lease had commenced only after receiving a phone call from TimePayment on June 18th.  Additionally, you have stated you have yet to receive the equipment, and that you wish to cancel the Agreement and be refunded your payment.   Please be advised TimePayment Corp. acted solely as a finance lessor (as it is described under UCC Article 2A) of commercial equipment, extending a finance lease to you after receiving and approving your credit application. TimePayment Corp. (“TimePayment”) is an equipment leasing company whose only role in this transaction was purchasing the equipment of your choosing from the independent vendor, [redacted], and leasing it to you.    On May 22, 2015, TimePayment received an application from you for finance leasing of salon equipment.  After your application was approved, on June 8, 2015, you electronically signed the Non-Cancelable Commercial Equipment Lease Agreement (“Agreement”) for several pieces of salon equipment at terms of $68.28 per month (plus applicable taxes and fees) for 24 months (see attached Agreement).  The Agreement states on Page 1 in the Delivery and Acceptance Confirmation section:   “I have instructed the 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 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 I am in possession of the Equipment or not.”   As such, TimePayment purchased the equipment from the third-party vendor on your behalf in reliance on your signature.  While TimePayment did request a copy of your business license, TimePayment then waived that requirement as a courtesy.  In order to convey this information, TimePayment conducted multiple phone calls with you on June 9th and June 10th, during which TimePayment also confirmed your payment information for the payable at signing amount needed to commence the lease.  Additionally, on June 10th an Introduction Letter was mailed to you welcoming you as a TimePayment customer, along with a copy of the commenced Agreement (see attached).   Whether you have received the equipment yet or not, the Agreement is valid and binding, as you agreed in signing the Delivery and Acceptance Confirmation that the equipment would be or had been ordered on your behalf.    On June 24th you contacted TimePayment and requested to transfer the lease into another person’s/business name.  TimePayment mailed you the application to be completed by the potential transferee and is waiting for the application to be returned.  Once the application is received, TimePayment’s Credit Department will review the application and contact you with the result.   It is TimePayment’s position that the terms surrounding the commencement of the Agreement were clear and that you understood those terms, and that the Agreement is valid and binding.  It is our hope that this has clarified any questions you may have had regarding your account.  Please contact our Legal Resolutions Department if you have any questions.   Sincerely,   [redacted], Esq.

I want to reopen this matter. It is not satisfactorily used due to their answer. I was in the hospital and unable to answer to their response last week.  They were called repeatedly after the man disabled the system.  The paperwork for the "new lease, and upgraded equipment" that the man brought with him was from TIMEPAYMENT. So their lease may give them many ways out of dealing with such fraudulent security companies that represent them, but I specifically called and called last year trying to get help because this man had the codes (from time payments equipment) they would not give me any type of reset codes or anything.  They wouldn't contact the company that they had bring this NEW PAPERWORK WITH THEIR NAME ON IT, when the man tried to force us to upgrade. They say it is non cancels me but they work with companies who try to force you into a new contract and new equipment when you are already under contract.  They had the phone number, the company name and the mans name all in my account as I had called half a dozen times and spent hours on the phone trying to resolve this matter with them. Their response is one of a company that is shady, and doesn't stand behind the companies that they send out misrepresenting them.  They do not care about the fact that for 3 years I was a faithful paying customer and when I had a problem no one helped me. Your Revdex.com gives them an a+ rating yet they have had over 70 complaints. This is disgraceful. I want to reopen this complaint as I am also dealing with the Montana State attorney general because all paperwork on lease says for business [redacted] and I signed as president yet they are trying to turn me into collections under my personal credit not my corporation.  Look into their reputation online. They say they are not in the security alarm company but online it says they KNOWINGLY participated in a security alarm scam with dozens of people. This company should not be allowed to do business.

TimePayment Corp. has had the opportunity to review your complaint, and we have located Non-Cancelable Commercial Equipment Lease Agreement No. [redacted] for [redacted] D/B/A [redacted], which we believe to be the Lease Agreement that you are referencing. In your complaint, you have...

stated that you were not satisfied with the commercial Nelson Ice Cream Push Cart that you received in correlation with the Lease Agreement, but that the vendor refused to accept a return on the equipment. You are arguing that you never accepted the equipment, and that the Lease Agreement should be considered null and void.Please be advised that TimePayment Corp. and the equipment vendor, Keyword Farm LLC D/B/A Turnkey Parlor, are two completely separate companies – we do not share employees, profits or anything else. TimePayment’s only role in this transaction was that of a finance lessor (as it is described under UCC Article 2A), extending credit to you and your business in the form of a Lease after receiving and approving your credit application. Prior to paying Turnkey Parlor for the equipment that is listed on the Lease Agreement, we conducted a recorded pre-funding verification telephone call with you on June 29, 2015. It was during that telephone call that you confirmed that you had read and understood the terms of the Lease Agreement that you signed. It wasn’t until the successful completion of that telephone call that TimePayment Corp. paid Turnkey Parlor and instructed them to deliver the equipment. While we understand that you are claiming to have not accepted the equipment, we do have (on file) a form confirming acceptance of delivery of the equipment – signed you on July 8, 2015. I have attached a copy of that form for your review. As stated in your complaint, the Non-Cancelable Commercial Equipment Lease Agreement that you signed as Lessee and Personal Guarantor, states on page 2, section 3 (“Delivery and Acceptance”): “The Equipment shall be shipped directly to me by the Vendor. Upon delivery of the equipment to me, I shall be deemed to have irrevocably accepted the Equipment, the Equipment shall be deemed to be in good working order and condition, and I shall be satisfied that the Equipment delivered includes all of the items specified in this Lease…”Our records indicate that you called and emailed our Customer Service Department on July 9th and 21st to express your dissatisfaction with the equipment that you had chosen. At no time during either of those correspondences did you mention any issues with the equipment, other than it being too heavy. It wasn’t until a telephone call on August 4th that you mentioned a faulty wheel. You further stated that the equipment vendor had offered to fix the issue with the wheel, but that you refused to allow that as you just wanted to return the equipment because of its weight.It is TimePayment’s position that you signed a Non-Cancelable Commercial Equipment Lease Agreement on June 25, 2015 for a base monthly amount of $156.46 for a term of 21 months. You further acknowledged and accepted the terms of the Lease that you signed by completing our recorded pre-funding verification telephone call on June 29th. TimePayment relied on your representations and paid Turnkey Parlor in-full for the equipment. You then accepted delivery of the equipment on July 8, 2015, at which time you irrevocably accepted the equipment and the terms of the Lease Agreement. Your obligations under the Lease Agreement remain in effect. If you have shipped the equipment back to the vendor, TimePayment urges you to contact them immediately to regain possession as TimePayment is the rightful owner of the equipment. Should you have any questions related to the terms of your Lease Agreement, billing or payments, please do not hesitate to contact our Customer Service Department at our toll-free number.

TimePayment’s Legal Resolutions Department received your complaint, filed with the Revdex.com, on June 3, 2015. We have had the opportunity to review your claim, as well as our file for the account referenced therein. In your complaint, you have asserted that the Rental Agreement that you signed with...

[redacted], LLC in September of 2013 consists of clauses promising “maintenance and repair services” as well as annual filter changes, at no additional cost to your company. You have claimed that [redacted] went out of business and, subsequently, has never changed the filter in the rented Wellsys Venus water unit, despite your [redacted] representative, [redacted]s’, assurance that it was included. Additionally, your complaint states: “…We demand service, maintenance and filter changes free of charge as originally agreed.”Please be advised that TimePayment Corp. and [redacted], LLC are two completely separate companies – we do not share employees, profits or anything else. TimePayment acted solely as a finance company (or “Assignee”) in this transaction, purchasing only the collection rights to your Rental Agreement from [redacted].  Prior to paying [redacted] for the collection rights to the Rental Agreement, TimePayment requested and received an executed Delivery & Acceptance Form, which was signed by you on September 11, 2013 (the date of delivery). Upon receipt of the signed D&A Form (assuring your satisfaction with the equipment), TimePayment purchased the rights to the Rental Agreement from [redacted] (pursuant to section 9, “Assignment”) and commenced the contract.Section 9 (“Assignment”) states, in part: “Vendor may sell, transfer or assign this Agreement without the Customer’s consent. In the event of any assignment by Vendor, assignee shall have all the rights, powers, privileges and remedies of Vendor set forth in this Agreement, but none of the obligations (including but not limited to any service or maintenance obligations).”We understand that the equipment vendor, [redacted], may have gone out of business and, thus, is not servicing the equipment as expected. Unfortunately, as the Assignee (and in accordance with the terms of the contract that you signed), TimePayment Corp. is not responsible for servicing or maintaining the equipment, or providing annual filter changes. As indicated in the contract, [redacted]’s failure to provide servicing or filters has no bearing on TimePayment’s right to collect the agreed-upon monthly rental fee for the water unit. If [redacted] has gone out of business, then you may wish to contact a third-party water equipment company in your area to service the equipment at your expense. As indicated in your complaint - as a courtesy, TimePayment previously provided you with the contact information for a company in your area ([redacted]), which would be able and willing to provide filter changes and service the equipment – however, fees may apply at the expense of Bijoux Image, Inc.  We sincerely apologize that we cannot be of further assistance with your servicing needs. We encourage you to contact [redacted] for assistance with any service, supplies or maintenance that the Wellsys Venus water unit requires. Additionally, our records indicate that your account with TimePayment is currently in default – please contact our Customer Service Department at your earliest convenience to make payment arrangements.

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.

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]. Thank you for your response to my questions. I want to know when the equipment was returned. I want an invoice of the equipment that was returned and the equipment that you say is missing. I still question the “Fair Market” value of the equipment. The lease states up to 10% of the lease total. How do you determine what percent, if it will be lower or the 10%? The determination of “Fair Market  Value” seems arbitrary.  Is there a document or chart that determines the “Fair Market Value”? A customer service agent stated that your company does not give credit for returning equipment. Your customer service agents harass and threaten the leasee but it doesn’t matter if the equipment is returned.  Why return the equipment if there isn’t any credit applied to the account?  
Regards,
[redacted]

TimePayment Corp.’s Legal Department has had the opportunity to review your account history, and we would like to take this opportunity to address your concerns related to the End of Lease Term options. It is your position that you should not have to pay the invoice, which was due on September 10th,...

because you returned the equipment to TimePayment on September 8th. You signed a Non-Cancelable Commercial Equipment Lease Agreement with TimePayment Corp. in October of 2011 for a term of 48-months, at a base monthly rate of $300.00 for the commercial leasing of a Konica Minolta copy machine. Your first payment was due on October 14, 2011. TimePayment mailed you an End of Lease Term Warning Letter on June 30, 2015 which stated (in part): “In accordance with the terms of your agreement, you have the following options at the end of the initial agreement term: (1) you can promptly return the equipment, in good condition, except for ordinary wear and tear, to us by the end of the initial term of the contract (10-Sep-2015) or (2) you can extend the agreement under the terms and conditions stated in the agreement on a month-to-month basis until such time as you give written notice that you elect to terminate the agreement at least 30 days prior to such termination and you return the equipment to us or (3) you can purchase the equipment for the fair market value as quoted by us at the time of termination plus any applicable taxes.”That letter further stated: “You are responsible for any billed balances still unpaid at the end of the term of the contract.” I have attached a copy of that letter for your review.TimePayment then mailed you a billing statement on August 14th, for a total of $365.22 - due on September 10th. Records reflect that TimePayment received the returned equipment on September 8th – two (2) days before the due date of your bill. You retained possession of the equipment for the month following your receipt of the billing statement which generated on August 14th. To reiterate - the $365.22 was not added to your account after the return of the equipment – it had been an outstanding balance due since August 14th, when the statement first generated. I have attached a copy of that statement for your review. As stated in the letter that was mailed to you on June 30th, you are responsible for any billed balances still unpaid at the end of the contract term. Furthermore, it is TimePayment’s position that you contracted to remit a total of 48 monthly payments in accordance with the Lease Agreement. To date, you have submitted 47 monthly payments. Because you failed to fulfill your obligations as outlined in the Lease Agreement, your account has remained open and continues to generate bills on a monthly basis. Currently, your account contains three (3) outstanding, past-due invoices. Should you wish to fulfill your obligations and pay the $365.22 that was due on September 10th, TimePayment Corp. would be willing to waive all additional invoices and fees which have generated on your account in the interim. If you wish to accept this offer, please remit payment in the amount of $365.22 no later than October 23, 2015.

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does satisfy my issues and/or concerns in reference to complaint #[redacted]. I understand that by choosing to accept the business response that my complaint will be closed as resolved. 
Regards,
[redacted]

TimePayment has had the opportunity to review your account, and we would like to address your concerns. Our records reflect that you called our Customer Service Department on January 25th and submitted your final payment, by phone. We apologize for the delay in closing the account, and we are...

currently investigating what may have caused this discrepancy.   Your account is in the process of being closed – we apologize for the inconvenience. Please disregard any mail that you have received which might indicate a balance due on the account. The account has been paid-in-full as of January 25th, and is being reported as such to the credit reporting agencies. There are no further payments due on the account.   We hope that this response has satisfactorily addressed your complaint. Please do not hesitate to contact our Customer Support Manager, [redacted], at extension [redacted], or at [redacted] with any further questions.

TimePayment Corp. would like to, again, clarify the terms of the Lease Agreement that you signed, as well as correct our previous statement regarding your current Lease Buyout. First, to correct our previous statement - the current buyout is $2,766.26, not the previously-provided figure. We apologize for any confusion, as the previous figure was provided in error.  Because your payment of $3,002.50 was received on November 4th, both your November and December invoices have been paid using those funds. While we understand that you do not want any funds to be showing as “unapplied” on your account, there are no open invoices on your account to apply those funds to at this time. For this reason, the $2,380.82, which is currently showing as “unapplied”, will continue to reduce with each monthly invoice that generates. We would like to reiterate that there are no “interest” fees associated with your Agreement. To clarify, you agreed to pay a base amount of $310.84 for a term of 36 months. In accordance with the terms of the Agreement, all 36 payments of $310.84 are owed, regardless of whether the payments are received early (in lump-sum) or in monthly installments. There are no penalties for paying the Lease Buyout early. Our records indicate that you spoke with a representative from our Customer Service Department today, regarding your account. We hope that we have been of service in clarifying any confusion relating to the Agreement. Please do not hesitate to contact us at our toll-free number with any further questions or concerns.

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does satisfy my issues and/or concerns in reference to complaint #[redacted]. I understand that by choosing to accept the business response that my complaint will be closed as resolved. As long as I do not receive any more notices saying that my payments are past due I will be happy.
Regards,
[redacted]

TimePayment Corp. has had the opportunity to review your account and payment history with our company in regard to Lease Agreement No. [redacted]. We would first like to apologize for any negative experience that you may have had, and clarify any misunderstandings. We understand that you are claiming...

that a TimePayment representative led you to believe, after submitting all of the requisite 48 monthly payments in regard to your Lease Agreement, that you could continue submitting regular monthly payments to be applied toward the Fair Market Value balance of the equipment (a total of $1,865.80).On May 12, 2015, TimePayment mailed you a letter outlining your end of lease term options. That letter stated: “This letter is to inform you that there are two months remaining on the initial term of your agreement. In accordance with the terms of your agreement, you have the following options at the end of the initial agreement term: (1) you can promptly return the equipment, in good condition, except for ordinary wear and tear, to us by the end of the initial term of the contract (20-Jul-2015) or (2) you can extend the agreement under the terms and conditions stated in the agreement on a month-to-month basis until such time as you give written notice that you elect to terminate the agreement at least 30 days prior to such termination and you return the equipment to us or (3) you can purchase the equipment for the fair market value as quoted by us at the time of termination plus any applicable taxes.” While TimePayment’s Standard Operating Procedure and the terms of our Commercial Equipment Lease Agreement do not allow payment plans (or monthly installments) to be applied toward the Fair Market Value of equipment, we understand that a miscommunication may have occurred. It is not TimePayment’s goal to ever be misleading, or dishonest, as we value our customer relationships. As such, we will contact you directly, via email, to discuss a settlement offer.Thank you for the opportunity to review this matter, and we hope that you find our offer satisfactory.

TimePayment Corp. is in receipt of your complaint related to Non-Cancelable Commercial Equipment Lease Agreement No. [redacted] for [redacted]. We have had the opportunity to review your file, as it relates to your complaint. Our findings and feedback are listed below for your review. You...

have stated that a man (whose name has not been specified), representing an unspecified business, came to your business and attempted to convince you to upgrade your existing security system. You claim that, when you rejected his offer, the man disabled your security monitoring services. You then uninstalled the equipment and entered into an Agreement with a new security company.Please be advised that TimePayment Corp. is not associated with any door-to-door sales representatives, nor do we have anything to do with your alarm monitoring services or functionality. You signed a Non-Cancelable Commercial Equipment Lease Agreement on July 20, 2011 for a term of 60 months, at a base monthly rate of $39.95. TimePayment’s only role in this transaction was that of a finance lessor, as it is more thoroughly described under UCC, Article 2A. At your request, we purchased an Ademco Lynx Security System from a company called Up Link Security to lease back to you for the aforementioned lease term.TimePayment Corp. bills you monthly for the equipment that is listed on the Lease, and not for any additional services or items. We do not provide alarm monitoring services or equipment-servicing of any kind. We ask that you refer to the following sections of the Lease Agreement (copy attached) for a better understanding of the terms:• Top left corner, page 1: “This is a Lease Agreement between TimePayment Corp. and the Lessee. Lessee acknowledges that it is entering into this Lease with TimePayment Corp. and that TimePayment Corp. is not in any way associated or affiliated with the Equipment Vendor, Dealer or Manufacturer. This is a legally binding contract. If the terms and conditions are not fully understood, legal advice should be sought.”• Agency Disclaimer: “NEITHER SUPPLIER NOR ANY SALESPERSON IS AN AGENT OF LESSOR NOR ARE THEY AUTHORIZED TO WAIVE OR ALTER THE TERMS OF THIS LEASE. THEIR REPRESENTATIONS SHALL IN NO WAY AFFECT LESSEE OR LESSOR’S RIGHTS AND OBLIGATIONS AS HEREIN SET FORTH.”• Maintenance of Equipment: “I agree to maintain the Equipment in good operating and physical condition at my expense, ordinary wear and tear excepted.” • Disclaimer of Warranties: “I understand you have not given me either express or implied warranties for the Equipment I am leasing or other services, access and/or use with the Equipment.  You have specifically disclaimed any implied warranties of merchantability and/or fitness for any particular use. You will have no liability for indirect, consequential or special damages. I have chosen this specific Equipment based on my own judgment and expressly disclaim any reliance upon any statements or representations made by you.”   • Equipment Servicing:  “I understand that no servicing of any kind is provided by you. I am to look to the Equipment Vendor/Supplier for any claims, servicing or warranties if any, and I specifically and unconditionally waive any claims, present or future, against you. Any failure of equipment, service or misoperation of any kind, whatsoever, is no basis for non-fulfillment of my obligations under the Lease.”If you allowed the man referenced in your complaint to alter your security system in some way, causing it not to function, you may wish to contact that company regarding this matter. If you did not allow anyone to alter your security system, yet your alarm monitoring services have stopped functioning, you may wish to contact your alarm monitoring company for advice. It is TimePayment’s position that you signed a Non-Cancelable Commercial Equipment Lease Agreement for a term of 60 months, with 11 monthly payments remaining. For the reasons outlined in this response, we are not able to issue a refund of any of the payments received on this account. If you wish to return the equipment, as indicated in your complaint, it may be shipped to [redacted] – however, this will not close your account, or cancel-out the remaining obligations. We apologize that we cannot be of further assistance in this matter, and we encourage you to reach out to the sales representative referenced in your complaint.