Complaint Review: Leasecomm - Microfinancial

One of Leasecomm's vendors contacted me and said they could set me up with a merchant account and that they would help me sell my products on-line by setting me up with an internet mall. They also told me they would do several other things to help me get my business off the ground. After I signed the contract I could never get hold of the vendor again and the software would not work. My business never got off the ground and I was unable to continue making payments.

In 2001 Leascomm sued me in Massachusetts and won a judgment against me. The judgment was transferred to my local County Court in 2002.

In 2003 the Federal Trade commission filed suit on this company for unfair business practices and the judge ruled that they had to stop collection on any judgment for a contract that included a virtual terminal (software to enable you to accept credit cards for payment on-line) and send a satisfaction letter to the courts and credit reporting agencies. The company failed to do so.

I have contacted the FTC twice with no response and the Massachusetts Attorney General's office sent me a letter after I contacted them basically saying they cannot handle every complaint they get but thanks for letting them know.

If you search this company on the internet you will find thousands of consumers that this company had ripped off in one way of another. You will also find many class action lawsuits against them (unfortunately I haven't found one that is still in litigation or I would join it.)

The company has changed its name to Microfinancial or TimePayment so they can continue their deceptive practices.

If anyone knows what I can do to make them send a letter of satisfaction to the courts and credit reporting agencies I would be very grateful for that information. This company should be put out of business all together!!

Sarena
Fostoria, Ohio
U.S.A.