Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below.Concerning the letter from Mr [redacted] of US Capital Equipment leasing of June 9, 2015:I did not make any or misleading characterizations as Mr [redacted] has stated He stated that on October 13, we contacted US Capital and requested a quote for lease financing This is not true We received a fax blast saying that we were preapproved for a business loan, no paper work or financials were required Financing within hours I called the phone number and left a message with my phone number On October 3, Mr [redacted] of US Capital called me We went over what I was looking for in financingI told him that we had found a truck on [redacted] that we wanted to purchaseHe said that we needed to send him the Account Verification form It was not for credit purposes but just verification of who we areI was assured that no credit check would be done Please see the attached email that Mr [redacted] sent to me on October 3, 2014.I was told by [redacted] at that time that I was approved for a business loan of $30,at 7% Mr [redacted] assured me that we were preapproved and that it was fine to go ahead and purchase the truck All of this was done verbally over the phone With [redacted] you have days to get the money to the dealer I was again assured that would not be a problem Mr [redacted] did not return my repeated calls about the financing The dealership also tried to contact him I can get verification from the dealership on this Finally, please note the email that I sent [redacted] on October 23, asking him about the funds At 10:pm on October 23, I received a fax with an Equipment Lease Agreement Please see attached This was not a proposal as Mr [redacted] stated Their name was no where on it and nothing was signed by US Capital As you can see, it only had places for signatures from us and a demand for the deposit of $1604.18.I was not happy with a lease as I wanted a loan that I could pay off early Since I had already purchased the truck though I figured that I had no choice but to sign it and send the money Everything was overnighted to them and I was assured that the dealer would get funded within to days.The dealership never received the funds We called but knowone would return our calls or that of the dealership Please note the email that I sent to Mr [redacted] on October 29, asking him to please call me or the dealership and let us know what is going on On November 5, I finally caught Mr [redacted] on the phone (he answered so he could not get away) He told me that the company he was going through for the lease backed out because of our credit (so much for no credit check) and he was looking for funding elsewhere By that time the dealership had held the truck for me for over a month I called them and told them that the financing had fallen through and I would have to let it go (along with my $deposit) He said he could get me financing and sent an application that dayI was approved the same day for a loan I either took their offer or I lose the truck as well as my $deposit as well as blackballed from *** I had no choice but to accept their offer.Mr [redacted] lied to me throughout the deal Unfortunately, most of it was verbal Mr [redacted] stated that he sent a Proposal on October 23, Please note that it was not a proposal, it was an agreement that only we could sign There was no name on the agreement of who it was from.Please note on the agreement that Mr [redacted] quoted under Section ...it states "If lessor provides final approval and lessee does not fulfill its commitment with respect to completing the lease transaction for any reason, then the Initial Deposit will be considered a processing fee earned by the Lessor" Please note that I never received final approval from US Capital and they did not sign any agreement[redacted] lied about our being preapproved He lied about the length of time to get funding He was unavailable and would not return phone calls If you would like a letter from the dealership to verify all of this I can get that.This company does not have integrity They did not do as they promised I was more than patient with them I want my deposit of $returned as they did not fulfill our agreement Mr [redacted] knew of our time constraints If you want further verification let me know as I will be happy to send it Regards, [redacted] ***
June 9, 2015Via emailMs [redacted] Revdex.comViewridge AvenueSuite 200San Diego, CA 92123Mr [redacted] :Thank you for your Letter dated June 4, regarding the concerns of [redacted] ofFranktown Firewood & Patio, LLCWhile we empathize with Franktown Firewood & Patio, LLC (“FFP”) for the issues theyhave regarding the proposed Lease we attempted to provide them, however, Ms***has made several and misleading characterization in her complaint informationstatement.On October 13, 2014, FFP contact US Capital and request a quote for lease financing fora truck they wanted for their businessThat same day we received our standard AccountVerification Form (“AVF”) signed by [redacted] ***The application requests the applicantto full in all the details of what they are attempting to lease along with corporate andpersonal financial informationThe application must be signed below the authorizationfor us to run personal and business credit backgrounds on the applicantNo statements of“preapproved for funding” exist in the applicationA copy is attached hereto as “ExhibitA”, with the account numbers and personal information blacked-out.On October 23, 2014, US Capital sent a Master Lease Proposal (“Proposal”) to FFPTheProposal was based on our conversations with FFP and the information in the AVF.Section of the Proposal reads as follows:“SECURITIZATION FEE- INITIAL DEPOSIT: The lease payments for theEquipment leased shall be in the amount designated in the payment schedule and shallcommence on the indicated payment due date immediately following the Equipmentacceptance date (the “Commencement Date”)Lessee shall pay Lessor said payments onor before the due date and at the office of Lessor or to such other person or place asLessor may designate in writingThe Initial Deposit noted above is required uponMs [redacted] June 8, 2015Page 2acceptance of this agreement by the Lessee, which shall be applied to the SecuritizationFee which is non-refundable and fully earned by Lessor upon Lessee’s acceptance of thisagreement, each as noted aboveThis Agreement is subject to receipt of finaldocumentation and final Equipment/credit approval by LessorIn consideration ofLessor’s time, effort and expense in considering and processing the lease proposaltransaction, Lessee agrees that Lessor shall have twenty (20) business days from the dateof Lessor’s receipt of all documentation and information required by Lessor from Lessee(which documentation and information Lessee shall provide to Lessor within seven (7)business days of Lessor’s request) to provide final approval as noted aboveIf Lessorprovides final approval and Lessee does not fulfill its commitment with respect tocompleting the lease transaction for any reason, then the Initial Deposit will beconsidered a processing fee earned by LessorThe Initial Deposit shall be retained asliquidated damages by Lessor in the event Lessee does not supply the required documentsand information required by Lessor or otherwise comply with the terms of this agreementor back out of the original agreement or any revised consideration thereto as stated above,there is a material adverse change to the financial condition of the Lessee or anyGuarantor, or if any material misrepresentation is made by Lessee in connection with theDocuments and information provided to Lessor.”FFP never informed US Capital of a time constraint for fundingUS Capital was wellwithin the twenty (20) days the Proposal provided to obtain credit approval for FFP whenthey informed us that they had obtained a loan from their online retailerUS Capitalperformed all of our duties as defined in the Proposal prior to FFP informing us that theyno longer needed our services to finance the truck lease.US Capital abided by all proper business decorum in attempting to provide FFP withlease financingUS Capital has been in business for over years, we have fundedthousands of Lease Schedules all over the United States and this is the first time we havehad an unjust and complaint filed against us with the Revdex.com.Sincerely, [redacted] ***Enclosures via attachments hereto
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below.Concerning the letter from Mr [redacted] of US Capital Equipment leasing of June 9, 2015:I did not make any or misleading characterizations as Mr [redacted] has stated He stated that on October 13, we contacted US Capital and requested a quote for lease financing This is not true We received a fax blast saying that we were preapproved for a business loan, no paper work or financials were required Financing within hours I called the phone number and left a message with my phone number On October 3, Mr [redacted] of US Capital called me We went over what I was looking for in financingI told him that we had found a truck on [redacted] that we wanted to purchaseHe said that we needed to send him the Account Verification form It was not for credit purposes but just verification of who we areI was assured that no credit check would be done Please see the attached email that Mr [redacted] sent to me on October 3, 2014.I was told by [redacted] at that time that I was approved for a business loan of $30,at 7% Mr [redacted] assured me that we were preapproved and that it was fine to go ahead and purchase the truck All of this was done verbally over the phone With [redacted] you have days to get the money to the dealer I was again assured that would not be a problem Mr [redacted] did not return my repeated calls about the financing The dealership also tried to contact him I can get verification from the dealership on this Finally, please note the email that I sent [redacted] on October 23, asking him about the funds At 10:pm on October 23, I received a fax with an Equipment Lease Agreement Please see attached This was not a proposal as Mr [redacted] stated Their name was no where on it and nothing was signed by US Capital As you can see, it only had places for signatures from us and a demand for the deposit of $1604.18.I was not happy with a lease as I wanted a loan that I could pay off early Since I had already purchased the truck though I figured that I had no choice but to sign it and send the money Everything was overnighted to them and I was assured that the dealer would get funded within to days.The dealership never received the funds We called but knowone would return our calls or that of the dealership Please note the email that I sent to Mr [redacted] on October 29, asking him to please call me or the dealership and let us know what is going on On November 5, I finally caught Mr [redacted] on the phone (he answered so he could not get away) He told me that the company he was going through for the lease backed out because of our credit (so much for no credit check) and he was looking for funding elsewhere By that time the dealership had held the truck for me for over a month I called them and told them that the financing had fallen through and I would have to let it go (along with my $deposit) He said he could get me financing and sent an application that dayI was approved the same day for a loan I either took their offer or I lose the truck as well as my $deposit as well as blackballed from *** I had no choice but to accept their offer.Mr [redacted] lied to me throughout the deal Unfortunately, most of it was verbal Mr [redacted] stated that he sent a Proposal on October 23, Please note that it was not a proposal, it was an agreement that only we could sign There was no name on the agreement of who it was from.Please note on the agreement that Mr [redacted] quoted under Section ...it states "If lessor provides final approval and lessee does not fulfill its commitment with respect to completing the lease transaction for any reason, then the Initial Deposit will be considered a processing fee earned by the Lessor" Please note that I never received final approval from US Capital and they did not sign any agreement[redacted] lied about our being preapproved He lied about the length of time to get funding He was unavailable and would not return phone calls If you would like a letter from the dealership to verify all of this I can get that.This company does not have integrity They did not do as they promised I was more than patient with them I want my deposit of $returned as they did not fulfill our agreement Mr [redacted] knew of our time constraints If you want further verification let me know as I will be happy to send it Regards, [redacted] ***
June 9, 2015Via emailMs [redacted] Revdex.comViewridge AvenueSuite 200San Diego, CA 92123Mr [redacted] :Thank you for your Letter dated June 4, regarding the concerns of [redacted] ofFranktown Firewood & Patio, LLCWhile we empathize with Franktown Firewood & Patio, LLC (“FFP”) for the issues theyhave regarding the proposed Lease we attempted to provide them, however, Ms***has made several and misleading characterization in her complaint informationstatement.On October 13, 2014, FFP contact US Capital and request a quote for lease financing fora truck they wanted for their businessThat same day we received our standard AccountVerification Form (“AVF”) signed by [redacted] ***The application requests the applicantto full in all the details of what they are attempting to lease along with corporate andpersonal financial informationThe application must be signed below the authorizationfor us to run personal and business credit backgrounds on the applicantNo statements of“preapproved for funding” exist in the applicationA copy is attached hereto as “ExhibitA”, with the account numbers and personal information blacked-out.On October 23, 2014, US Capital sent a Master Lease Proposal (“Proposal”) to FFPTheProposal was based on our conversations with FFP and the information in the AVF.Section of the Proposal reads as follows:“SECURITIZATION FEE- INITIAL DEPOSIT: The lease payments for theEquipment leased shall be in the amount designated in the payment schedule and shallcommence on the indicated payment due date immediately following the Equipmentacceptance date (the “Commencement Date”)Lessee shall pay Lessor said payments onor before the due date and at the office of Lessor or to such other person or place asLessor may designate in writingThe Initial Deposit noted above is required uponMs [redacted] June 8, 2015Page 2acceptance of this agreement by the Lessee, which shall be applied to the SecuritizationFee which is non-refundable and fully earned by Lessor upon Lessee’s acceptance of thisagreement, each as noted aboveThis Agreement is subject to receipt of finaldocumentation and final Equipment/credit approval by LessorIn consideration ofLessor’s time, effort and expense in considering and processing the lease proposaltransaction, Lessee agrees that Lessor shall have twenty (20) business days from the dateof Lessor’s receipt of all documentation and information required by Lessor from Lessee(which documentation and information Lessee shall provide to Lessor within seven (7)business days of Lessor’s request) to provide final approval as noted aboveIf Lessorprovides final approval and Lessee does not fulfill its commitment with respect tocompleting the lease transaction for any reason, then the Initial Deposit will beconsidered a processing fee earned by LessorThe Initial Deposit shall be retained asliquidated damages by Lessor in the event Lessee does not supply the required documentsand information required by Lessor or otherwise comply with the terms of this agreementor back out of the original agreement or any revised consideration thereto as stated above,there is a material adverse change to the financial condition of the Lessee or anyGuarantor, or if any material misrepresentation is made by Lessee in connection with theDocuments and information provided to Lessor.”FFP never informed US Capital of a time constraint for fundingUS Capital was wellwithin the twenty (20) days the Proposal provided to obtain credit approval for FFP whenthey informed us that they had obtained a loan from their online retailerUS Capitalperformed all of our duties as defined in the Proposal prior to FFP informing us that theyno longer needed our services to finance the truck lease.US Capital abided by all proper business decorum in attempting to provide FFP withlease financingUS Capital has been in business for over years, we have fundedthousands of Lease Schedules all over the United States and this is the first time we havehad an unjust and complaint filed against us with the Revdex.com.Sincerely, [redacted] ***Enclosures via attachments hereto