LeaseComm: Difference between revisions
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have software, and since we already had computers they recommended the | have software, and since we already had computers they recommended the | ||
[[PTC]] software rather than purchasing a separate "terminal" as was | [[PTC]] software rather than purchasing a separate "terminal" as was | ||
more common at that time. When I was signing the contract, I noted that | more common at that time. So I signed both an agreement with | ||
the language of the fine-print seemed to be presenting the transaction | CardService, for card processing services, and a contract with | ||
as a ''lease'' of the software rather than a purchase. I pointed this | LeaseComm for the PTC software. | ||
When I was signing the LeaseComm contract, I noted that the language of | |||
opted for the shorter purchase period, which was something like | the fine-print seemed to be presenting the transaction as a ''lease'' | ||
of the software rather than a purchase. I pointed this out to the | |||
salesman, but he insisted that the contract was in fact a purchase. I | |||
also opted for the shorter purchase period, which was something like | |||
$60/month for 2 years instead of $30/month for 5 years -- and again, | $60/month for 2 years instead of $30/month for 5 years -- and again, | ||
these numbers wouldn't make sense for anything but a purchase. Being | these numbers wouldn't make sense for anything but a purchase. Being | ||
somewhat naive at that time, I signed. | somewhat naive at that time, I signed. | ||
Long story short, two years later the $60 | Long story short, two years later the automatic monthly $60 deductions | ||
account did not stop. The | from my account did not stop. The contract apparently really was a | ||
branch of Cardservice which had provided the salesman in question was | lease. The branch of Cardservice which had provided the salesman in | ||
nowhere to be found (email bounced, letters returned). After a lot of | question was nowhere to be found (email bounced, letters returned). | ||
arguing with LeaseComm I was able to get out of the | After a lot of arguing with LeaseComm I was able to get out of the | ||
less pleasant than it sounds), but only after paying an extra $400 or | contract (this is less pleasant than it sounds), but only after paying | ||
so. | an extra $400 or so. | ||
(Article to be expanded with additional details and documentation at a | (Article to be expanded with additional details and documentation at a | ||
later date.) | later date.) | ||
Revision as of 17:33, 29 April 2005
[[Category:Business Ratings]] LeaseComm Corporation is a company which lends money for purchases of relatively low-cost ("small ticket") business equipment. They are headquartered in Woburn, MA.
Opinions
Woozle 11:28, 29 Apr 2005 (CST)
These people have a special place on my hate-list. Admittedly, the fault may lie as much with Cardservice International as with LeaseComm, but all of my contact with LeaseComm over the incident had a very strong flavor of sleaze. In 1995 or 1996, I signed on with CardService International to receive credit-card processing services. As part of that, it was necessary to have software, and since we already had computers they recommended the PTC software rather than purchasing a separate "terminal" as was more common at that time. So I signed both an agreement with CardService, for card processing services, and a contract with LeaseComm for the PTC software. When I was signing the LeaseComm contract, I noted that the language of the fine-print seemed to be presenting the transaction as a lease of the software rather than a purchase. I pointed this out to the salesman, but he insisted that the contract was in fact a purchase. I also opted for the shorter purchase period, which was something like $60/month for 2 years instead of $30/month for 5 years -- and again, these numbers wouldn't make sense for anything but a purchase. Being somewhat naive at that time, I signed. Long story short, two years later the automatic monthly $60 deductions from my account did not stop. The contract apparently really was a lease. The branch of Cardservice which had provided the salesman in question was nowhere to be found (email bounced, letters returned). After a lot of arguing with LeaseComm I was able to get out of the contract (this is less pleasant than it sounds), but only after paying an extra $400 or so. (Article to be expanded with additional details and documentation at a later date.)
