TimePayment Corp.

Unfortunately, TimePayment does not have any documents on record showing valid insurance coverage for the equipment for the months that you were billed the Loss or Destruction Waiver Fee. Please provide proof of insurance for the months of June, 2015 through January, 2016 and TimePayment would be happy to refund any fees that were charged to you for the Loss or Destruction Waiver Fee for those months.

TimePayment has located your account, and we would like to take this opportunity to respond to your complaint. Our records indicate that TimePayment has not had any direct contact with you since February 8, 2017, and has not refused to provide you with a copy of your Agreement or validation of the...

debt. A copy of your Non-Cancelable Commercial Equipment Lease Agreement is attached, for your review. Pursuant to section 3 (“Credit Inquiries and Credit Reporting”), TimePayment is authorized to provide history information to the credit reporting agencies about your credit standing with us, and our credit experience with you. In accordance with the Fair Credit Reporting Act (“FCRA”), TimePayment is obligated to report its accounts honestly and accurately. After reviewing your account history, it is our position that the account is being reported accurately to the credit reporting agencies, Experian and Equifax (please note: TimePayment does not report its accounts to Transunion). Please review the attached histories for your account’s cash receipts and invoices. Unfortunately, we are not able to delete the account from your credit reports – however, we would like to reach an amicable resolution on the account. Please contact us at our toll-free number to discuss possible settlement options.

TimePayment Corp. has had the opportunity to review your account, and we would like to address your concerns, and clarify some of the terms of the contract that you signed. As an initial matter, please understand that TimePayment is a finance lessor, as is more thoroughly described under UCC 2A – we...

are not a bank, and do not provide loans or charge interest of any kind. Our records indicate that TimePayment first received your credit application on July 23, 2015, when it was electronically submitted to us by the independent broker company, [redacted]. The contract that you signed on July 30, 2015 is a Non-Cancelable Commercial Equipment Lease Agreement (“Agreement”). The Agreement identifies itself as such in capital font at the top of page 1, and throughout the pages of the contract. There is nothing in this document which would indicate this is a loan agreement, or that it includes interest. I have attached a copy of the Agreement, for your review. TimePayment’s first contact with you was on August 3, 2015 (after the Lease Agreement had already been signed), when we conducted a recorded verification telephone call with you. During that telephone call, you confirmed that you understood that you had signed a Non-Cancelable Commercial Equipment Lease Agreement for a base amount for $160.34 per month, for 36 months. At no time during that telephone call (or at any other time, prior to the date of your Revdex.com complaint) did you indicate that you believed the contract to be a loan or purchase agreement, or that you were dissatisfied with its terms. As the Lessor, TimePayment is the owner of the equipment that is subject to the Agreement. The amount that TimePayment paid for the equipment is not the sole determining factor in deciding the base monthly lease payment. Your base monthly lease payment is an amount determined using several factors, including your credit approval rating and desired contract term. If you were dissatisfied with the base monthly payment amount, you had the opportunity to cancel the transaction prior to its commencement. Our records indicate that you reviewed the Agreement, signed it, completed the recorded verification telephone call, accepted the equipment and commenced the Agreement without any dispute or hesitation. If you wish to pay-off the Lease Agreement, the current buyout is $5,244.30. There are 33 payments remaining on the initial lease term. Should you have any questions related to billing, payments or fees, please do not hesitate to contact our Customer Service Department at our toll-free number.

As an initial matter, the contract that you signed is a Commercial Equipment Lease Agreement and did not allow a 3-day right to rescind. Furthermore, as previously stated, TimePayment is not a bank and does not charge interest of any kind.   No representatives of TimePayment ever informed you that you would be paying $1,200 in interest, nor did TimePayment state that you would only have paid $3,600 by the end of the lease term. As previously stated, the recorded lease verification telephone call was conducted by the independent broker company, [redacted] Financial, and not by TimePayment. [redacted] Financial and TimePayment Corp. are two completely separate companies – we do not share employees, profits, offices or anything else. The telephone recording that was sent to TimePayment at the time of lease commencement did not contain any language related to interest, nor did it contain anything related to the total amount that will have been paid by the end of the lease term. If the conversations that you are referring to were conducted with representatives of [redacted] Financial, then TimePayment would have no knowledge of those conversations and the matter would need to be addressed with [redacted] directly.   The material terms of the Lease Agreement were not changed or altered in any way after the Agreement had been electronically signed by you. If you believe otherwise, then please provide any documentation that you have, evidencing the alleged alteration.   We sincerely apologize if the terms of the contract were not understood prior to commencement – however, TimePayment maintains that the lease terms are clearly stated within the pages of the Lease Agreement, and those terms have not changed.   Records reflect that you paid the buyout on your account on June 19th, and the account has subsequently been closed. Please do not hesitate to contact our Customer Service Department with any questions related to the terms of the Lease Agreement.

TimePayment would like to apologize for any negative experience that you may have had with our company, and take this opportunity to better explain the terms of the Non-Cancelable Commercial Equipment Lease Agreement (“Agreement”) that you signed.   As an initial matter, the Loss or...

Destruction Waiver Fee is disclosed within the terms and conditions section of the Agreement (see section 17, “Loss or Destruction Waiver”). The Agreement specifically explains that you must insure the equipment against loss, destruction, theft or damage (and provide a valid insurance binder, naming TimePayment as Loss Payee) – otherwise, you will be charged a monthly Loss or Destruction Waiver fee. A copy of the Agreement is attached, for your review.   On December 13, 2016, TimePayment mailed you a Welcome Letter, which summarized the material terms of your Agreement and reminded you that you would be charged a monthly loss or destruction fee of $16.00, if you failed to provide a valid insurance binder, naming TimePayment as Loss Payee, before your next payment was due (which was January 5, 2017). A copy of that letter is attached, for your review.   On January 3, 2017, TimePayment mailed you another letter – reminding you that the Agreement required you to insure the equipment against loss or destruction. It further stated that, as of the date of that letter, we had not received a binder from your insurance company, and that your account would begin being charged the monthly $16.00 loss or destruction waiver fee. A copy of that letter is attached, for your review.   TimePayment’s records reflect that we first received an insurance binder from you, via email, on January 24, 2017. There was a delay in reviewing the document, due to a backlog, which caused a delay in notifying you that the binder was incomplete. We sincerely apologize for the delay in notifying you of the discrepancies with the binder.   Please provide a valid insurance binder on or before the date that your next payment is due (April 5, 2017), and TimePayment will agree to remove any loss or destruction waiver fees which have been applied to your account since the date that the binder was first provided (January 24, 2017). The binder (and/or any questions) may be directed to [redacted] in our Lessee Relations Department, via email at [redacted].[redacted]@TimePaymentCorp.com, or at ([redacted] ext. [redacted]. Please note that the binder must list TimePayment as a Loss Payee, and must include our address and the coverage amount.   We sincerely hope that this response satisfies your request.

TimePayment Corp.’s Legal Department has received your Revdex.com complaint in regard to Commercial Equipment Lease Agreement No. [redacted] for [redacted] We have had the opportunity to review your account – our findings and feedback are listed below.Your complaint states that...

TimePayment charged you $32.00 per month for the months of March and April, 2015 for “insurance” after your company “switched insurance” in January of 2015. You have stated that, despite providing proof that there was never a gap in coverage, TimePayment has refused to reimburse you for the two (2) months of “insurance” that we charged you for. You are requesting a refund totaling $72.00 for the fees charged. First, please be advised that TimePayment does not provide (or bill for) insurance of any kind. The Loss & Destruction (L&D) fee referenced in your complaint is a waiver fee, rather than insurance – it does not entitle you to receive payment of any kind (as insurance would), nor does it allow for your account to be closed in the event of loss or damage to the equipment. Please refer to the following sections of your Lease Agreement for further explanation of this fee:• Section 16, “Loss or Destruction of the Equipment”: “I shall bear the entire risk and be responsible for loss, theft, damage or destruction of the Equipment from any cause whatsoever after I receive possession of the Equipment. I will notify you immediately if the Equipment is lost, destroyed, stolen or taken by any other person…”• Section 17, “Insurance”, states: “I will keep the Equipment fully insured against loss, destruction, theft or damage and will provide an insurance binder naming you as loss payee.” • Section 18, “Loss or Destruction Waiver”, states: “You will waive my responsibility for loss or destruction of the Equipment and for keeping the Equipment fully insured during the lease term. After loss or destruction of the Equipment, you will provide for its replacement with Equipment of comparable value at that time to the extent that I took reasonable care in preventing the loss or destruction of the Equipment… If I do not provide proof of insurance, I am deemed to have chosen to buy the Loss or Destruction Waiver…”Following the activation of the Lease Agreement in May of 2014, you provided a copy of your valid insurance binder, naming TimePayment Corp. as Loss Payee. As a result, TimePayment did not charge you for the L&D Waiver Fee until we received a Notice of Cancellation from your insurance company on January 19, 2015. Because your February invoice had already generated at the time that we received the Notice of Cancellation, the first L&D Waiver Fee was not billed to you until your March, 2015 invoice. Our records indicate that you called our Customer Service Department on April 9, 2015 to inquire about the higher payment amount – at which time you were informed that you were being charged the L&D Waiver Fee as the result of the Cancellation Notice that we received from your insurance company. While you did immediately provide a copy of the new insurance binder, it was not until April 10, 2015 – three (3) weeks after your April invoice had already generated. Because you did not inform TimePayment of the change in insurance coverage, or provide a copy of a valid binder in a timely manner, we were unable to retroactively adjust the monthly invoices that had already generated and/or been paid. While it is TimePayment’s position that all fees have been properly applied to your account in accordance with the terms of the Lease Agreement that you signed, we will agree to credit your account in the amount of $72.00. Please be advised that this is being offered only as a one-time courtesy and that any future changes in insurance coverage will need to be communicated to TimePayment immediately to avoid additional L&D Waiver Fees.

TimePayment would like to take this opportunity to address your concerns and better explain the terms of the Non-Cancelable Commercial Equipment Lease Agreement (“Agreement”) that you have entered into with us.   As stated in box “A” (“Schedule of Payments”) on page one (1) of the Agreement,...

you have agreed to submit a base monthly payment of $254.36 (plus applicable taxes and fees) for a period of 33 months. In reviewing your account, we have found that you are currently being charged a Loss or Destruction Waiver Fee (“L&D”), which we believe to be the “insurance” fee referenced in your complaint. You have been charged this fee in error, as the Waiver Fee does not apply to the type of equipment that you are leasing from us.   Unfortunately, we are not able to close your account for the return of the equipment – however, to rectify the error, we have credited your account in the amount of $96.00 (the amount that you have paid in L&D Waiver Fees, to date), as well as voided all late/collection fees that were applied to the account. An additional credit will be granted for any of those fees which have already been paid. We apologize for this discrepancy - you will not be charged the L&D Waiver Fee, going forward.   With the removal of the L&D Waiver Fee, your total monthly payment is $281.79 – this figure is comprised of the following: Base Monthly Payment: $254.36; Sales Tax: $15.26; Property Tax: $12.17. This figure does not include any statement/billing fees, collection fees, late/bounce fees, etc…   Please be advised that your account is currently setup on statement billing, as opposed to automatic withdrawal. There is a monthly fee of $5.00 for accounts on statement billing. If you wish to have your account setup on automatic withdrawal, please contact our Customer Service Department at our toll-free number, or access your account via our online portal, to make changes.      We sincerely hope that this response is satisfactory to you. Should you have any further questions or concerns related to the account, please do not hesitate to contact us.

TimePayment would like to take this opportunity to address the concerns mentioned in your complaint, and better explain the terms of the contract that you have entered into with us.   As an initial matter, TimePayment would like to clarify that we do not engage in “verbal contracts”. All terms...

and conditions are laid-out, in writing, within the pages of our Lease Agreement.   After receiving and approving your credit application, TimePayment sent you a Non-Cancelable Commercial Equipment Lease Agreement (“Agreement”), via email, to review and sign on March 7, 2016. You signed the Agreement on the same day, and returned it to TimePayment for commencement.   Pursuant to page 2, paragraph 6 (“End of Lease Term”), you had 3 options at the conclusion of the requisite Lease Term. In essence, you could: (1) return the equipment to TimePayment in good condition, at your expense, (2) continue paying on a month-to-month rental basis under the existing terms, or (3) purchase the equipment by paying the fair market value, as quoted by TimePayment.  As per the terms, if none of the options are exercised, the lease automatically extends on a month-to-month rental basis (option 2).  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.  The Agreement is clear, the buyout on the contract (in order to keep the equipment) requires payment of the Fair Market Value, in addition to all monthly lease payments. There is no mention of a $1.00 buyout in the Agreement. A copy of the Agreement is attached, for your review.   While we sincerely apologize for any misunderstandings related to the Lease Agreement, we can find no evidence to suggest that any representatives of TimePayment misrepresented the terms of the contract. If you have any documentation, correspondence, or other substantiating material to support this claim, then please provide it so that we may further investigate the matter.

TimePayment has received your complaint, filed with the Revdex.com, and we have located an account in our system which we believe to belong to you – No. [redacted]. You are claiming that you received “defective” equipment from the equipment vendor, [redacted], in correlation to your Consumer...

Equipment Lease with TimePayment. You have further claimed that [redacted] informed you that they would not be able to repair the equipment “for a year or longer” and, as such, they accepted the return of the equipment and assured you that TimePayment would refund any payments that you had made, as well as close your account. Last, you are claiming that [redacted] refunded TimePayment “more than a month ago” in regard to the amount that we paid for the leased “[redacted]”, but that TimePayment has failed to refund your payment. First, please be advised that TimePayment Corp. and [redacted] LLC 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, extending credit to you in form of a Lease after receiving and approving your credit application on June 19, 2015. Prior to paying [redacted] for the equipment that is listed on the Lease, TimePayment conducted a recorded Lease Verification telephone call with you on June 30, 2015 – at which time you confirmed that you had received all of the equipment and that you were satisfied with it. At no time during that telephone call did you inform our representative that the equipment was defective, or that you were dissatisfied with it in any way. Immediately following the recorded verification telephone call, TimePayment paid [redacted] for the equipment and commenced the Lease. To address the claims brought forth in your complaint, we ask that you refer to the following sections of your Lease: • Top left corner, page 1: This is Lease Agreement between TimePayment Corp. and the Lessee. Lessee 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.• Warranties (section 3): The Equipment may be subject to manufacturers’ or suppliers’ warranties contained in the original packaging. These are the only warranties that are provided with the Equipment. Lessor has made no express or implied warranties on the Equipment, any services and/or use of the Equipment, including the implied warranties of merchantability or fitness for particular purpose.• Early Termination (section 18): (a) …I may end this Lease before the end of the Lease Term if I am not in Default by delivering written notice to you of such Termination. If you or I terminate this lease before the end of the Lease term, I must return the Equipment to you and pay to you an early termination balance within ten days after my receipt of written notice from you of the Early Termination Balance...  Our records indicate that, on August 27th, [redacted] (a Sales and Customer Service representative with [redacted]) reached out to TimePayment to advise that you were seeking to cancel the Lease and receive a refund only because the equipment that you had chosen was too large, and a smaller size was not available at that time. Mr. [redacted] advised that, despite being offered several alternate resolutions, you continued to request a refund. Ultimately, [redacted] stated that they would like to return TimePayment’s funding to us and have the Lease canceled. While TimePayment Corp. is under no obligation to allow for the already-commenced Lease to be canceled, we agreed to allow the cancelation transaction and accept our funding back from [redacted]. We informed Mr. [redacted] that, once our funds were received back, we would be able to issue a refund to you (the customer) and close the account. Until such time that we receive a refund of the money that was paid to [redacted], we are not able to close this account or issue a refund of cash received. Our records indicate that, to date, TimePayment has not received our funding back from [redacted] in regard to this account – for this reason, the account remains open and is actively billing. As a courtesy, we reached-out to [redacted], requesting an update on the status of the aforementioned refund. They have assured us that a check was mailed yesterday, September 21st – once received, we will continue with the process of closing this account. It is our sincere hope that this response has clarified TimePayment’s role in this transaction.

TimePayment would like to begin by clarifying that we currently have two (2) Commercial Equipment Lease Agreements with you – copies of both Agreements are attached, for your review.   Non-Cancelable Commercial Equipment Lease Agreement No. [redacted] commenced on March 22, 2016, after...

TimePayment received your electronic credit application from an independent broker company called [redacted] LLC. After your credit application was approved, the Lease Agreement was sent to you via email, to review and sign. You placed your electronic signature on the Lease Agreement at 1:32 PM on February 23, 2016. Pursuant to page one (1), box “A” (“Schedule of Payments”), you agreed to submit 57 monthly payments of $407.11 (plus applicable taxes and fees). Additionally, you completed recorded verification telephone call with a representative of [redacted] on March 21, 2016, at which time you confirmed that the terms stated in box A on page one of the Lease, were the terms that you agreed-to.   Non-Cancelable Commercial Equipment Lease Agreement No. [redacted] commenced on January 17, 2017, after TimePayment received your electronic credit application from the independent broker company, [redacted] LLC. After your credit application was approved, the Lease Agreement was sent to you via email, to review and sign. You placed your electronic signature on the Lease Agreement at 10:20 AM on January 16, 2017. Pursuant to page one (1), box “A”, you agreed to submit 21 monthly payments of $152.88 (plus applicable taxes and fees). Additionally, you completed verification telephone call with a representative of TimePayment on January 17, 2017, at which time you confirmed that the terms stated in box A on page one of the Lease, were the terms that you agreed-to.   Please understand that TimePayment Corp. is a finance lessor, as is more thoroughly described under UCC, Article 2A. As we are not a bank, and this Agreement is not for a loan, there is no interest that is being charged on your accounts. Our only role in the transactions was to purchase equipment of your choosing, from the equipment vendors of your choosing, in order to lease the equipment back to you for the agreed-upon monthly amount.   We apologize if the terms of the Lease Agreements were not understood prior to commencement – however, it remains TimePayment’s position that all terms and conditions are clearly stated within the pages of the Agreements.   The current buyout amount for account [redacted] is $18,979.21- there are 43 payments remaining. The current buyout amount for account [redacted] is $3,411.61- there are 18 payments remaining. Please be advised that returning the equipment early will not void or nullify the Lease Agreements. In order for the accounts to be closed, all requisite lease payments must be received, and the equipment must either be returned to TimePayment, or purchased for the Fair Market Value, as defined in the End of Lease Term section of the Lease Agreements.   If you are no longer willing or able to continue paying on the Lease Agreements, then you may choose to have them transferred to a new Lessee and Personal Guarantor. If a Lease Transfer is something that interests you, please contact our Customer Service Department for additional information on the transfer process.   We sincerely hope that our response has clarified any confusion related to your accounts with us. Please do not hesitate to contact us, should you have further questions or concerns.

TimePayment values its customers and we sincerely apologize for any negative experience you may have had.  Please be advised that your account has been closed as paid in full, and the credit bureaus will be updated to reflect same.  TimePayment will also request that the credit bureaus...

remove any negative marks.  Please note you will receive further confirmation of these actions by mail.

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. Please add your rejection comments below. 
 We would like for Time Payment Corp. to remove all of their faulty equipment that has stopped working properly a few days after installation. I completed a complaint form prior to this one for the same company and I haven't heard anything? This company has not complied with our requests to remove the faulty equipment. No further contact from the business.
Regards,
[redacted]

TimePayment Corp. has received your Revdex.com complaint, and we have had the opportunity to review your account. We would like to take this opportunity to address your concerns, and clarify some of the terms of the contract that you signed. First, please be advised that TimePayment Corp. does not offer...

loans, or charge “interest”. The contract that you have entered into with us is a Commercial Equipment Lease Agreement, and not a loan agreement. TimePayment is an equipment leasing company (as is more thoroughly described under UCC Article 2A), and not a bank. TimePayment’s only role in this transaction was to purchase equipment of your choosing, from an independent equipment vendor, [redacted] (“[redacted]”), to lease back to you for a mutually-agreed-upon monthly amount. Our records indicate that you signed a Non-Cancelable Commercial Equipment Lease Agreement (“Lease”) on April 28, 2015 on behalf of [redacted] d/b/a [redacted]. You also signed as a Personal Guarantor. Pursuant to the terms of the Lease, you agreed to pay $168.90 (plus taxes and fees) for a term of 48 months. Upon receiving the executed Delivery and Acceptance Form, which confirmed that you had received and were satisfied with the equipment, TimePayment paid [redacted] for the equipment and commenced the Lease on May 22, 2015. I have attached a copy of the Lease, for your review. To date, TimePayment has received 5 of the requisite 48 monthly lease payments due on this account. The current monthly lease payment of $197.90, multiplied by the remaining 43 monthly payments, totals $8,509.70. This amount does not include any late fees or collections costs that may be added to the account. To address your concerns related to credit reporting, please refer to section 3 of the Lease (“Credit Inquiries and Credit Reporting”). TimePayment has an obligation to report honestly and accurately to the credit bureaus, regarding your payment history with our company. Any negative credit reporting associated with this account is reflective of the account’s standing on the dates reported. We hope that this response has clarified any confusion. Please do not hesitate to contact our Customer Service Department at our toll-free number with any further questions related to your account.

TimePayment’s records indicate that you entered into a Consumer Equipment Lease Agreement on October 15, 2015 for 33 months, for a base monthly amount of $50.97, for the leasing of security equipment. Please note: this is an equipment lease agreement and does not include alarm monitoring services. ...

On September 8, 2016, you called our Customer Service Department to advise that you would be moving, and inquiring about available options with regard to the equipment lease. The TimePayment representative whom you spoke with informed you that you could wither buyout the Lease (to keep or return the equipment), or the new homeowner could apply to transfer the lease into their name. You advised that you would discuss this with the new homeowner and let us know. On September 9, 2016, you called to inform us that the new homeowners were interested in “taking over” the lease agreement, and requested the transfer application. On September 14th, the transfer application was sent to you via email and 1st class mail. On October 15th, TimePayment mailed a second letter, informing you that we had not received back the completed transfer application, and it had expired without a transfer taking place. Copies of both letters are attached, for your review. On October 19, 2016, you called our Customer Service Department again, to inquire about the status of the transfer. You were informed that the completed application was never received, and the transfer had not taken place. Further, you were informed that the account was now past-due, and the transfer could not be completed until the account was current. On October 22, 2016, TimePayment mailed you a second transfer application. On October 23, we mailed a letter informing you that the transfer application had been approved, and that we now needed the new Lessee to sign and return the Lease Agreement, binding them to the remaining terms. That letter informed you that, during this process (and until being notified by TimePayment that the lease had been successfully transferred), you would remain responsible for the lease. Copies of these letters are attached, for your review. On December 11, 2016, TimePayment mailed you a letter, informing you that the new Lessee had never signed and returned the Lease to us. Subsequently, the lease transfer process was never completed. A copy of this letter is attached, for your review. TimePayment is not billing two separate individuals with regard to this contract, nor are we actively receiving payments. The last payment was received on September 12, 2016. The payment history is attached, for your review. We urge you to contact your realtor, and/or the new homeowner, as TimePayment has no control over the status of this lease transfer. The lease cannot be transferred without the appropriate documents being completed and returned to us. We apologize that we cannot be of further assistance in this matter.

TimePayment Corp. has had the opportunity to review your account, and we would like to address your complaint. On May 21, 2009, you entered into a Non-Cancelable Commercial Equipment Lease Agreement for 60 months, at a base monthly amount of $119.00. You are claiming that you were told that, once...

you returned the leased ATM machine at the end of the initial lease term, your account would be closed with no further payments due. On January 14, 2014, TimePayment mailed you an End of Lease Term warning letter, which summarized your end of lease term options (as outlined in section 5 of the Agreement). In essence, there are three options at the end of the lease term: the equipment may be returned by the end of the initial lease term (March 25, 2014, in this case), you may continue on a month-to-month rental basis under the existing terms, or you may purchase the equipment by paying the fair market value.  As per the terms, if none of the options are exercised, the lease 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. When you did not return the equipment by March 25th, and did not purchase it for the fair market value, your account was automatically extended on a month-to-month rental basis. Our records indicate that the last invoice paid on this account was the July 25, 2015 invoice – however, the equipment was not returned until October 12, 2015. For this reason, you were charged three (3) months of rental payments (August, September and October). Because the equipment remained in your possession during the times that you have been billed-for, it is TimePayment’s position that you remain responsible for paying those rental invoices. Records further indicate that you spoke with TimePayment’s Lessee Relations representatives and/or supervisors on at least five (5) separate occasions, via telephone and email, regarding this matter (after the equipment was returned). On September 10, 2015, you were informed that the equipment needed to be returned by September 25th in order to avoid being billed-for equipment rental in September (and, subsequently, October). On November 9, 2015, an individual named [redacted] called our Lessee Relations Department to dispute the past-due balance. Lessee Relations Supervisor, [redacted], explained to [redacted] that the equipment had not been returned in time to avoid the subsequent invoices. As a courtesy, [redacted] agreed to void the invoices for September and October, if you would agree to pay the August invoice. [redacted] rejected that offer. On December 22, 2015, [redacted] spoke with TimePayment representative, [redacted], who reiterated the information that other representatives had provided previously. [redacted] followed-up that telephone conversation with an email – a copy of that email is attached, for your review. In her email, [redacted] maintained TimePayment’s position that all three (3) past-due invoices were due owed, but stated that TimePayment remained willing to void the September and October invoices if you would agree to pay for August. TimePayment’s last record of receiving correspondence from anyone at your business regarding the account was on January 13, 2016. To date, we have not received payment for the August, 2015 invoice. Also, pursuant to section 3 of the Agreement (“Credit Inquiries and Credit Reporting”), TimePayment is authorized to provide payment history information to the credit bureaus. In compliance with the Fair Credit Reporting Act (FCRA), TimePayment is 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. We apologize that we are not able to further assist with this request. TimePayment will extend our offer to void the invoices for September and October, and close the account for one final payment of $167.03 until the close of business on Friday, June 17th. If you wish to accept this offer, please contact our Lessee Relations Department at our toll-free number, or send an email to [email protected]

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

TimePayment Corp.'s records indicate that we sent an electronic Universal Data Form to [redacted] and [redacted] on July 9, 2015 requesting that they delete the TimePayment trade line from your personal credit report. Please allow a reasonable amount of time for the Credit Bureaus to update their database. You may contact the Credit Bureaus directly with any questions relating to their trade line deletion process. We apologize for any inconvenience, and it is our sincere hope that this matter has been remedied to your satisfaction.

TimePayment would like to take this opportunity to address the concerns mentioned in your complaint. As an initial matter, please be advised that TimePayment Corp. is a finance lessor, as is more thoroughly described under UCC 2A, and not a bank. We do not charge interest of any kind, as referenced...

in your complaint.   TimePayment first received your credit application from the independent broker company, [redacted] Financial LLC, on December 28, 2016. On January 6, 2017, a representative of [redacted] conducted a recorded lease verification telephone call with you, in order to confirm that you understood the terms of the contract that you had signed (see the attached call summary sheet). During that telephone call, you confirmed that you had signed a Non-Cancelable Commercial Equipment Lease Agreement (see attached) with TimePayment Corp. for a period of 45 months, at a base monthly amount of $122.89 (this does not include additional taxes and fees).   At no time during that recorded telephone call, did you inquire about interest, or indicate that you believed that you would only be paying $3,600 by the end of the lease term. In fact, in confirming that you signed a Lease Agreement for 45 months, at a base amount of $122.89 per month, you essentially confirmed that you understood that you would be paying at least $5,530.05 by the end of the lease term (again, this figure does not include additional taxes and fees).   Further, please refer to page 1, box “A” of the Lease Agreement (“Schedule of Payments”). Box A specifically states that your base monthly payment is $122.89 for 45 months, plus taxes and tax processing fee, and loss and destruction waiver if applicable.   To address your concerns related to the $20 decline fee - our records indicate that your account with us was previously setup on automatic payments. On April 30th, our attempt to withdraw your monthly payment was declined. We made a second attempt on May 5th – which was also declined. Our third attempt (on May 6th) was approved. As per the terms of the Lease Agreement, a processing charge of up to $20 will be charged for any returned check or rejected credit card charge/bank debit (see section 6, “Late Payments and Collection Costs”).   Please be advised that returning the equipment early will not void or nullify the Agreement. There are 39 monthly payments remaining on your account. For the account to be closed, all requisite payments and open invoices must be received/paid, and the equipment must either be returned to TimePayment or purchased for the fair market value (as described in section 5, “End of Lease Term”).   We sincerely apologize for any misunderstandings which may have occurred with regard to the terms of the Agreement. We hope that our response to your complaint has clarified the matter to your satisfaction. If you do elect to retain an attorney with regard to this matter, please have them send our Legal Department a letter of representation so that we 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].  
[this is the letter I received yesterday.  No real investigation was done, and no resolve was made. I also had to make a payment over the phone with [redacted] so they would not report to the credit bureaus. She basically informed me that I read the contract and it was my fault. Still paying for equipment I haven't had for months now.  She also informed me that she had no idea where my equipment came from and that there should have never been a third party vendor, and that's still my fault.  I have still no clue where to go from here, was told to contact quickspark who gave me the loan, which I have and was told to contact time payment which I have 5 million times.  
Regards,
[redacted]

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. .They lied about the lease.  It was supposed to be a loan and when I questioned why it said lease I was reassured that at the end it would be mine.  The payment just made was under false pretenses because the representative told me it was for maintenance and I needed it.  Besides that this lease states 10% of fair market value.  How do they come up with 611?  To buy it new right now the cost is $3790.00....  Ten percent of that is 379.00.  This unit was bought used is is at lease 5 years old.  This company is a rip off.  They have their representatives lie to customers and take their money under false pretenses.  Please see attached pictures and the lease (which I was told was not a lease).  And explain to me where they are coming up with 611.  My 125.72 which was taking falsely need to be credited back!
Regards,
[redacted]