TimePayment Corp.

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. 
Regards,
[redacted]

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. Please add your rejection comments below. 
I  am disappointed in the poor handling of this case.  The investigator has not been out of the office since I submitted the claim and on her voice mail, it does not reflect that she is out of the office or that she will be back on February 29, 2016.  I had asked to speak to someone else, and was told that [redacted] was in charge of this case, therefore, I was told to leave a message.  I left numerous messages and no one ever got back to me.  I am definitely requesting that the fraudulent account be closed.  The equipment should be confiscated and lease be terminated immediately.  Time payment did not do their due diligence, fraud was committed against me, and the broker that took this fraudulent application,knowingly, still represents Time Payment Corp.  [redacted] (vendor code [redacted]) should be terminated for lack of due diligence by not verifying any of the information on such as application.  Mr. [redacted] created the application and although there is no direct evidence that he may have forged the signature himself to benefit him in form of a large commission, it is definitely a possibility.  [redacted] or [redacted] were the only two individuals that could have created such fraudulent crime.A police report was filed, an affidavit of fraud was submitted to time payment corp and specimens of my signatures were notarized and also submitted to time payment corp as well as federal issued government ID's to match signatures.  I also have contacted the office of the Attorney General of the state of Massachusetts to file a complaint against Time Payment Corp for their involvement in the fraud against me.  I am now requesting that all accounts held my Time Payment Corp be terminated and removed from my credit report, mainly in part for the lack of good faith and neglect of due diligence as well as lack of speed in resolving this matter.  This should have never happened, and Time Payment Corp needs to own up to their mistake.  I don't want anything to do with this company. I will not seek prosecution if Time Payment Corp agrees to close all accounts where my name and credit is being affected.  After the accounts are closed and I have receipt of such, I will most definitely sign a release if Time Payment Corp requests it, to ensure that I will not seek prosecution and case will be dropped.  This all could be resolved in a rapid manner without any repercussions to all parties.   
Regards,
[redacted]

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does satisfy my issues and/or concerns in reference to complaint #[redacted]. I understand that by choosing to accept the business response that my complaint will be closed as resolved. They have opted to remove the FMV that was due at the end of the final two payments. I am satisfied with their response and agree to end the complaint
Regards,
[redacted]

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. Please add your rejection comments below. 
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. First of all thank you for your response. Regarding first point,  YES we are stating that [redacted] ( sales rep from whatever company since there are 3 names we are dealing with) stated there would be no penalty to pay off early and yes we can pay it off whenever and be responsible for taxes and fees for that time. Secondly, YES we are stating we were NEVER told we were entering a lease and that is the problem. Yes, we are aware of the name of company [redacted] which again is why we were asking about the terminology, and like we said we trusted [redacted] since we were a repeated customer so we chose to take advantage of the financing option which was not disclosed as a lease, however now we find out that [redacted] is different and has nothing to do with Time Payment. This is very confusing to understand from a consumer with each of your responsibilities and undefined roles you have, bottom line we were not informed this was a lease, even the welcome letter you attached does not state anywhere that it is a lease, it only states financing which again we were told it was a loan.We want out of this arrangement, if you want the equipment back we will definitely follow protocol. What can be done at this point to resolve this miscommunication since you clearly stated your company values your customers. Bottom line since [redacted] is not from Time Payment, we never talked to anyone from the company that we got the so called lease from. Again the welcome letter you are referencing never stated lease, it only stated financing so again we trusted the rep from [redacted] as well as [redacted] since we previously done business together. I can definitely do a complaint on [redacted] as well since [redacted] was the sales rep that did not properly disclose all needed information, we would like a copy of the recorded phone calls as well. 
Regards,
[redacted]

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. Please add your rejection comments below. When I follow the instructions to go to "Invoice history" and click on a specific invoice it simply shows "monthly payment" and "amount" (screen capture attached).  I need a proper invoice that shows dates, company header, payments received, number of remaining payments, standard invoice info etc. 
Regards,
[redacted]

TimePayment would like to take this opportunity to clarify that we did not “illegally sign [you] up for a contract.” Pursuant to the attached Non-Cancelable Commercial Equipment Lease Agreement (“Agreement”) that you signed, you agreed to submit a base amount of $50.00 per month, for 48 months for...

the leasing of a “POYNT Smart Terminal”. A copy of this Agreement was mailed to you on August 15, 2016, along with a Welcome Letter. TimePayment’s only role in this transaction was that of a finance lessor, purchasing equipment of your choosing from the independent equipment vendor of your choosing, in order to then lease that equipment back to you for a mutually-agreed-upon monthly amount. We first received your credit application on August 15, 2016, when it was submitted to us electronically by the independent equipment vendor, [redacted] d/b/a [redacted] (“[redacted]”). [redacted] is a completely separate company from TimePayment. Our records do not indicate that any employees of TimePayment represented the Agreement as being anything other than what it is described-as within its terms and conditions. Furthermore, as the finance lessor, TimePayment did not remove the equipment from your business, and is not currently in possession of the equipment. Notwithstanding the above - due to the nature of this particular contract, TimePayment agrees to close the account and assign it back to [redacted]. You may wish to contact [redacted] with any questions or concerns that you have, relating to correspondence which occurred prior to the Lease’s Commencement, or the whereabouts of the equipment. Please disregard any billing statements which may cross in the mail.

As TimePayment previously informed you, in our response to your prior Revdex.com complaint (no. [redacted]), we cannot locate any accounts for you in our database.   Records reflect that we received two (2) separate credit applications for your husband, [redacted], on March 26th and July 6th. Both...

applications were cancelled, and are not eligible for commencement. Neither of the applications has had any activity since July 6th. TimePayment did not purchase any equipment on your husband’s behalf, nor did we commence any Equipment Lease Agreements in his name.   As stated in our response to you, on July 6th, we cannot locate any active accounts for you or your husband, and TimePayment has not withdrawn any funds from your bank account, nor received any payments in connection with the aforementioned applications. We have no knowledge of any such transaction.   You may wish to contact [redacted] if you believe that the $1,900 deduction is related to the purchase of a water heater.

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 February 29, 2016, when it was electronically submitted to us by the independent equipment vendor, [redacted]. The contract that you signed electronically on March 1, 2016 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 March 2, 2016 (after the Lease Agreement had already been signed), when you confirmed your understanding of the contract terms during a telephone call with our Funding Department. During that telephone call, you confirmed that you understood that you had signed a Non-Cancelable Commercial Equipment Lease Agreement for a base amount of $472.62 per month, for 21 months. You further advised that you would be undergoing surgery the following day, and authorized TimePayment to speak directly with your daughter regarding the account. At no time during that telephone call did you indicate that you believed the contract to be a loan or purchase agreement, or that you were dissatisfied with its terms. Regarding your assertion that additional monthly taxes and fees were not disclosed to you, please refer to box “A” (“Schedule of Payments”) on page 1 of the Agreement. Per the Agreement, you agreed to pay $472.62 (plus applicable taxes and fees) per month for a term of 21 months. Any additional fees that may be applied to your account are disclosed within the “Terms and Conditions” section of the Agreement. We urge you to contact our Lessee Relations Department to discuss how some of these fees can be avoided. Currently, your monthly invoice is comprised of the base monthly payment ($472.62), sales tax ($33.08), property tax ($11.45) and the Loss or Destruction Waiver fee ($32.00) – totaling $549.15. The taxes and Loss or Destruction Waiver fee are noted in box “A”, and are described in greater detail on page 3 of the Agreement. Further, on March 15th, TimePayment mailed you a welcome letter, summarizing the terms of the Agreement that you had signed and the taxes that you would be charged. That letter also reminded you that you would be charged the Loss or Destruction Waiver fee if you did not provide a valid insurance binder before your next payment was due. A copy of that letter is attached, for your review. Please note: To date, TimePayment has not received a valid insurance binder. Regarding your correspondence with the independent equipment vendor, we urge you to refer to the “Agency Disclaimer” on page 2 of the Agreement. This section specifically states that the vendor is not an agent of TimePayment; that they are in no way authorized to waive or alter the terms of the Agreement; and that their representations shall, in no way, affect lessor or lessee’s rights and obligations as therein set forth. As previously stated, because this is a Lease Agreement (and not a loan), there is no interest being charged. Pursuant to the terms of the contract, all 21 requisite monthly payments must be made before the account can be closed. Please refer to section 6 (“End of Lease Term”) for information on the options that are available to you once all of the requisite lease payments have been made. If you wish to pay-off the Lease Agreement, the current buyout (to keep the equipment) is $10,461.86. There are 19 payments remaining on the initial lease term. Should you have any questions related to billing, payments, fees or insurance binder requirements, please do not hesitate to contact our Lessee Relations Department at our toll-free number.

TimePayment would like to take this opportunity to clarify the terms of the Non-Cancelable Commercial Equipment Lease Agreement (“Agreement”), referenced in your complaint.   As an initial matter, you did not sign the Agreement on behalf of the Lessee (“[redacted].”), nor as a personal...

guarantor. For this reason, your personal credit will not be affected by missed or late payments. Please be advised that, in accordance with section 3 of the Agreement, the personal credit of only the personal guarantor will be affected by late or missed payments.   To address your concerns related to the “non-cancelable” nature of the Agreement – please be aware that the Agreement only remains non-cancelable for the requisite lease term (which, in this case, was the first 60 months). On February 18, 2014, TimePayment mailed an “End of Term Warning Letter” to the billing address that we have on file for this account. That letter reminded the Lessee that there were two (2) months remaining on the initial term of the Agreement, and it summarized the End of Lease Term options (as explained in section 5 of the Agreement). For your review, I have attached copies of the Agreement, as well as the letter referenced herein.   As stated in the Agreement, and in the End of Lease Term Warning Letter, when the Lessee did not return the equipment to TimePayment, and the Lessee did not purchase the equipment for the Fair Market Value, the Agreement continued billing on a month-to-month basis. The Agreement could have been cancelled at any time thereafter, by returning the equipment or purchasing it for the Fair Market Value.   In accordance with the terms of the Agreement, TimePayment is under no obligation to close the account for payments already received, as the Lessee has not exercised one of the End of Lease Term Options outlined in the Agreement. However, in the spirit of compromise, we will agree to close the account, as is.   We sincerely hope that our response has clarified the Agreement’s terms, and satisfied your desired resolution.

As previously stated, TimePayment’s only role is to collect the monthly alarm monitoring service fee for the duration of the contract. We do not provide the alarm monitoring service, nor do we have any involvement with the security equipment.   If you are unable to get in contact with the vendor company which installed the equipment in your home, then you may wish to contact the alarm monitoring company for assistance in locating a servicing vendor in your area to assist with equipment issues.   We apologize that we cannot be of further assistance in this matter.

TimePayment would like to take this opportunity to respond to the concerns mentioned in your complaint.   As an initial matter, we have no record of speaking with anyone in September with regard to credit card information, nor transferring your Alarm Monitoring Agreement to another...

individual. Our records reflect that you called our Customer Service Department on September 7, 2016 to inquire about the number of remaining payments on the account, but did not make any other inquiries during that phone call. Our next correspondence with anyone related to the account, was on October 3, 2016, when your husband called our Customer Service Department to request the phone number for [redacted] Security (the independent vendor company whom TimePayment took assignment of the contract from), and to request that transfer paperwork be sent.   Per your husband’s request, TimePayment mailed the transfer paperwork to the billing address on file on October 4, 2016. When we did not receive anything back, we sent a letter (on November 5, 2016), informing you that your transfer request could not be completed, as the application had not been returned to us (copy attached).   On December 27, 2016, you requested that the transfer application be sent again. On December 28th and December 31st, TimePayment notified you (by email, 1st class mail and telephone) that the application could not be processed until the account was brought current, as it was past-due at that time (see attached copy of letter).   Your complaint indicates that a representative at a completely separate company informed you that TimePayment had successfully processed your transfer request. Unfortunately, TimePayment has no records supporting this information, nor that any other companies contacted us on your behalf to request that the transfer take place. As TimePayment owns the collection rights to the contract, TimePayment is the only company which can approve and/or communicate to a customer the status of their transfer application with our company.   To address your concerns related to your credit card information – our records reflect that the account was setup on automatic payments, and that there were no issues processing monthly payments until December 10th, when the card on file began declining. After the card was declined on three separate occasions, the account was removed from automatic payments and placed on statement billing. Subsequently, no payments have been received since November 9, 2016.   Notwithstanding the above, TimePayment will agree to close the account for payments already received, and cancel the alarm signal. We sincerely hope that this matter has been remedied to your satisfaction.

TimePayment Corp.’s Legal Resolutions Department has had the opportunity to review your complaint, filed with the Revdex.com, and we would like to take this opportunity to clarify the terms of the Lease Agreement that you signed with our company.TimePayment’s only role in this transaction was that of a...

finance lessor – extending credit to you in the form of a Lease after receiving your electronic credit application from the independent broker company, LeaseStation, and approving it. As a lessor, TimePayment does not charge interest, or offer loans of any kind. Our part in this transaction was to purchase equipment of your choosing from the independent equipment vendor ([redacted]) to lease back to you and your business for the agreed-upon monthly amount. On January 29, 2015 you electronically signed Non-Cancelable Commercial Equipment Lease Agreement No. [redacted] for a 12” x 30” Gear Head Combo Lathe Mill Drill with Cooling System, agreeing to pay a base monthly rate of $204.07 for a term of 57 months. As the Lessee and Personal Guarantor, you were responsible for carefully reading the entire contract prior to signing. We ask that you refer to the top, left corner of page one (1) of the Lease Agreement, which states: “This is a Lease Agreement between TimePayment Corp. and the Lessee. Lessee acknowledges that it is entering into this lease with TimePayment Corp. and that TimePayment Corp. is not in any way associated or affiliated with the Equipment Vendor, Dealer or Manufacturer. This is a legally binding contract. If the terms and conditions are not fully understood, legal advice should be sought before signing.”As further confirmation that you understood the document that you had signed, TimePayment Corp. completed a recorded verification telephone call with you on January 30, 2015. It was during that telephone call that you confirmed that you understood that you had signed a Non-Cancelable Commercial Equipment Lease Agreement with a base monthly rate of $204.07 (plus applicable taxes and fees) for a term of 57 months. Upon successful completion of that recorded telephone call, TimePayment Corp. paid [redacted] for the equipment that is listed on the Lease Agreement and commenced the contract. Your obligations became irrevocable at that time. Upon receiving the equipment, on April 6, 2015 you electronically signed a Delivery and Acceptance Form, which states (in part): “This Lease a NON-CANCELABLE Commercial Lease Agreement between the Lessee and TimePayment Corp. This Lease is for 57 months and the base monthly payment is $204.07 (plus applicable taxes, tax processing fee, and loss or destruction waiver). No written or verbal alteration of this Lease Agreement is valid.” For your convenience, I have attached copies of the Lease Agreement, as well as the Delivery and Acceptance Form. We understand that you are requesting to pay only the retail value of the equipment. Unfortunately, because you elected to lease the equipment, rather than purchase it directly from [redacted], we are unable to comply with this request. It is TimePayment’s position that the costs and fees associated with the Lease Agreement were properly and accurately disclosed to you, both verbally and in writing, prior to commencement of the contract. We apologize that we cannot be of further assistance in this matter, and for any negative experience that you may have had with our company. We value our customers, and it is our sincere hope that our response has clarified the terms of the contract that you signed, as well as our company’s role in this transaction.

TimePayment has had the opportunity to review your account, and we would like to take this opportunity to explain what our records reflect.   When you signed the Consumer Equipment Lease Agreement (“Lease”) in July of 2016, you elected to have your account set-up on automatic payments, to be...

withdrawn on the 15th of each month. Pursuant to the “Method of Payment” section, located at the bottom of page 3 of the Lease (copy attached), you provided [redacted] credit card information in order to process the automatic payments. Our first attempt to withdraw payment, in August of 2016, was declined – which you later clarified was the result of the credit card having been compromised. You provided new credit card information on August 22, 2016, to be used in connection with the automatic payments. As a courtesy, TimePayment voided two (2) declined payment fees at that time.   The automatic payments were processed successfully for nine (9) months after the new credit card information was provided (from September 2016 through May 2017). However, out attempts to withdraw payments began declining in June of 2017. In accordance with the terms of the Lease, continued attempts to charge the credit card were made (each, several days apart). Our records indicate that, between June 15th and August 24th, seven (7) withdrawal attempts were declined.   It is your responsibility to ensure that sufficient funds are available each month, at the time that payments are due. Pursuant to section 8 (“Monthly Statements; Dishonored Payments”), if a monthly payment is dishonored for any reason, you are responsible for applicable fees associated with the dishonored transaction.   On September 22, 2017, TimePayment agreed to waive three (3) of the seven (7) declined payments fees that were recently applied to your account. As a courtesy, we will agree to waive one (1) additional declined payment fee. The three (3) remaining declined payment fees cannot be waived. We hope that this resolution is satisfactory. We urge you to contact your bank with any questions that you may have, regarding why the payments may have been declined. Please do not hesitate to contact our Customer Service Department, should you have any questions or if you need assistance updating your automatic payment information.

In response to your complaint, TimePayment would like to take this opportunity to better explain the terms of the contract that you’ve entered into with us, in order to clarify any misunderstandings.   TimePayment’s records indicate that you entered into a Non-Cancelable Commercial Equipment...

Lease Agreement with us on May 10, 2013, for the leasing of CCTV equipment. The Agreement, for which you are listed as a personal guarantor, is for a period of 60 months, at base amount of $197.00 per month. There is nothing in this Agreement which indicates that the contract can be cancelled before all 60 monthly payments have been received. A copy of the Agreement is attached, for your review.   TimePayment first received your credit application on May 1, 2013, from the independent equipment vendor, [redacted] Inc. After the application was approved, and TimePayment had received the signed Agreement and Delivery & Acceptance Form (confirming that you had received the equipment and were satisfied with it), we paid [redacted] for the equipment and commenced the Agreement.   Please be advised that TimePayment’s role in this transaction was solely that of a finance lessor, as is more thoroughly described under UCC 2A. TimePayment and [redacted] Inc. are two completely separate companies, as we do not share employees, profits, offices or anything else. The status of [redacted]’s business operations is irrelevant to the terms of the Agreement that you have with TimePayment. Please refer to the Agency Disclaimer, on page 2 of the Agreement.   In accordance with the terms of the Agreement, you have three (3) options at the end of the Lease Term – you may (1) return the equipment to TimePayment, (2) keep the equipment and extend the Agreement on a month-to-month basis under the existing terms, or (3) purchase the equipment from TimePayment for the Fair Market Value. While we understand that you elected to return the equipment prior to the end of the Lease Term – this action does not void or nullify your remaining obligations under the Agreement.   To date, TimePayment has received 47 of the 60 requisite Lease Payments – there are 13 payments remaining on the account. If you would like to pay the account off early, to have it closed, then please contact our Lessee Relations Department for a buyout quote.   Our records reflect that you recently contacted our Lessee Relations Department regarding a payment of $211.76 which was withdrawn from your bank account, but was not being reflected on your TimePayment account. Upon receipt of the supporting documentation that you have provided, TimePayment was able to locate the payment and it has been applied to your account. Please be advised that your account is current, with your next payment due on April 10, 2017.   We sincerely hope that this response clarifies the terms of the Agreement, and the remaining obligations. Please do not hesitate to contact us with any further questions or concerns.

Revdex.com:Miss [redacted] keeps records too... and has certainly spoken with your company on (2) more occasions than what you have in your records.  As a matter of fact, she was discussing the money issue on 09/07/16 (3rd call to your company) for about 12 minutes and the phone just went silent as she was talking to the girl.  Since no one called us back, we assumed we were disconnected intentionally.  They were discussing the account info, so the girl that answered the phone had our records up in front of her.The second time that she spoke to someone they said they "Didn't know" what the goal amount was, just what the pay off was.The first time she was told the Pay-Off, she couldn't afford to put that total amount down, which is why she made big payments ($400.00; $500.00 as often as possible) to get that paid off as quickly as possible, like I had asked her to do. You make it sound like it's our fault that your "system" didn't recognize the payments and post properly.  I think you need to update your system.  If someone gives you money towards a "pay-off, buy-out" or whatever you wish to call it - that money should be deducted from that amount in a reasonable amount of time.That money should not be "Held onto" like my money was... and ate away at monthly.I have reviewed the response submitted by the business and have determined that the response does satisfy my issues and/or concerns in reference to complaint #[redacted]. I understand that by choosing to accept the business response that my complaint will be closed as resolved. Bottom line.  Thanks for refunding what was overpaid to you.  I will be watching for a check.Regards,[redacted]

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. 
 
Regards,
[redacted]

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. Please add your rejection comments below. 
The issue at hand is that it was never explained that we were in an "only" lease agreement.  We were told we were in an ownership agreement.  I would like to receive the recorded phone call to confirm one such exists.  There was never disclosure about the amount being added to the cost of the equipment.  When we contacted [redacted] we were informed that we would be buying this equipment not leasing it.  These "terms" are just a way of getting people to agree to something they do not understand.  Also you reported that the fee calculated was based on our credit history.  Please provide how you calculate that.  There has to a way you calculate what to charge people and that should be fully disclosed.  I have entered into a lease agreement before and ALL terms were always disclosed.
Regards,
[redacted]

We apologize that you are not satisfied - however, you have not presented any new concerns or complaints in your rebuttal. As such, TimePayment maintains our position as stated in our initial reply. Please do not hesitate to contact us directly with any further concerns, as we would be happy to work toward an amicable resolution.