Balboa Capital Corporation

THE ORIGINAL VERBAL AGREEMENT WAS A FINANCE RATE OF 3.99% OVER FIVE YEARS IT WAS BASED ON A $125,EQUIPMENT LOAN AND THE QUARTERLY PAYMENTS WAS GOING TO BE $6,904.61, WHICH IS EQUAL TO THE AGREED UPON 3.99% THE ACTUAL EQUIPMENT LOAN AMOUNT WAS $89,000, HOWEVER I WAS MISLED BY A *** *** (WORDS CANNOT DESCRIBE HIS DESPICABLE BEHAVIOR!!!) UPON SIGNING AND THE RATE WAS 12% AT A QUARTERLY PAYMENT OF $5,959.99!!! HE INDICATED THAT THIS LATTER PAYMENT WAS INDICATIVE OF THE AGREED UPON 3.99%, AND THAT I NEEDED TO ELECTRONICALLY SIGN ASAP SO THE VENDOR CAN BE PAID UPON RECEIPT OF THE EQUIPMENT I ONLY KNEW THAT THIS WAS AT A 12% RATE BECAUSE OF A FINANCIAL CALCULATOR ONLY AFTER THE CONSUMMATION AFTER NUMEROUS APPEALS EVEN TO A "*** ***," SUPPOSEDLY THE HEAD SUPERVISOR OF *** WHO NEVER RETURNED MY CALL, I AM LEFT WITH THE INAUSPICIOUS POSITION TO REPORT THEM TO YOU AND HAVE THE GENERAL PUBLIC AWARE OF THEIR VERY SUSPICIOUS BUSINESS ACTIVITY THIS IS NOT TO MENT

In October of 2013, we (*** *** ***) purchase equipment for our companyThe company that sold us the equipment used Balboa Capital to provide the financing / leasing for the equipmentWe had an agreed upon amount which we paid regularlyIn the latter part of 2016, we noticed a"non auto pay" fee attached to our invoiceI called and asked them to remove itThey informed me that their lawyers said they had the legal right to add this to our accountI explained that we did not agree to these charges and wanted them removedAfter MUCH discussion, they agreed to remove the chargesMy most recent invoice shows the charges are now back on my invoiceThis type of practice is deceitful and should not be toleratedI feel the company is conducting an illegal business practiceHow can a company after three years decide that it is acceptable to start charging a fee that was not agreed uponThis type of greed should be prosecuted in order to send a clear message that your State w

Balboa Capital is abiding by the terms of the Agreement that was signed and agreed to by both parties

If I could give this company stars I would Do not do business with this company We purchased a band saw for $50,and they set it up for quarterly paymentsAfter signing the contract they had us pay a deposit which was one payment of $ In less than a month they sent a bill for $for prorated rentThe next payment in less than two months for $ So in less than three months they had $10,They didn't send a notice that my payment was due and I was charged a late fee of $ I spoke to the customer service and they waived the late fee When I paid off my loan early they filed a derogatory late with the credit bureau They put a past 120+ days on the $late fee that I have in writing they took off but they still reported it My husband and I have several businesses and have excellent credit but when we applied for a home loan this showed up I ask for a letter stating it was filed in error and the letter stated it was reported as delinquent on April was written off on 11/03/ They are not customer friendly and are very hard to deal with

My company has two equipment leases with Balboa Capital The first was started in March of I negotiated a month equipment lease with a $buyout with my sales manager Those were the only terms ever discussed but come to find out last month when I put a call into Balboa that was not what I signed rather it was a fair market lease in which I have failed to properly terminate and it has renewed
Thinking that my first lease was ending I negotiated a second equipment lease in January of My sales manager and I discussed in detail the ending my first lease as if it were in fact a capital lease with a $dollar buyout In discussing the first lease he never told me anything about a renewal of the first lease that had already taken place
I have had multiply equipment leases in the last years and all of them have been $buyout agreements I feel I have been take by a bunch of con artist who managed to pull a quick one over on me and failure to continue pay

They called us and asked if we needed any equipment financed, they sent us a lease agreement which is very much different than standard financingHowever the documents have to be completed online using their DocuSign program, the print is micro font and is very difficult to readI scanned through this document and signed and return to the representative, I was then able to print a copy of the document, which is when we realized that the document was a leaseThe representative was notified the day after the documents were signed of the issue, he then revised them and changed to standard financing, as the original discussion on the phone indicatedI believe I got those documents the day after we spokeIN the meantime they took the original deposit amount of $6,out of our account, we did not know this occurred until we did bank reconciliations in April When the representative sent the finance agreement the interest rate that we were being told was not reflected in the loan docu

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID *** and find that this resolution would be satisfactory to me. I will wait for
the business to perform this action and, if it does, will consider this complaint resolved
Regards,
*** ***

Balboa Capital sold me a loan for $for purchase of a medical laser bought from *** ***Their written contract was very vague, small print and copied multiple times to the point of illegibility
I realized two months after getting the loan, that against the initial discussion with the *** rep who made me sign the contract with Balboa, they do not honor the initial loan terms:
The want more than what was agreed on, they do not honor the buy out at year of loan payment without prepayment penalty, they do not take balloon payments against our initial discussion, they don't disclose who much of monthly installments is the principal and how much the interest, and they want to charge interest on the balance of years of the loan even if I pay it off at the first anniversary ( against our initial understanding)They have almost NO CUSTOMER service, their terminology is very vague, they can not be reached, ad they are rude, and purposefully vague in their terms, conditions,

Hi ***,
My name is *** ***I am with Front Range Internet and I have
submitted a complaint against Balboa Capital on July 18thI wanted
to let you know that since the Revdex.com
complaint posted, Balboa jumped
to resolve the matterI finally got to talk to somebody who
illustrated the type of customer service that we would expect from
our vendorShe was very apologetic on behalf of her team and
refunded the amount that I was expectingI have already received it
in our bank account
Will you please update the case as "satisfied" or "closed" or
whatever the status would be in this caseI promised the vendor
that I would close the Revdex.com case if they refunded the amount that we
were disputingThey upheld their end of the bargain, so I want to
do the same on my side
Please let me know if you need anything else, to get this resolved
Kindest Regards,
*** ***
Front Range Internet, Inc
*** *** ***Complaint
Overview
Identification
Complaint ID:
Complaint Type:
Business Complaint
Date Filed:
7/18/9:AM
Dispute Center:
Revdex.com of San Diego (San Diego, CA)Viewridge Ave Suite 200 San Diego, CA
Email: Web: www.sandiego.Revdex.com.org
Consumer Information
Date Filed:
7/18/
Sal:
First
Name:
***
Middle
Name:
Last
Name:
***
Suffix:
Address:
*** *** Drive
*** *** *** *** UNITED STATES
Daytime
Phone:
***
Evening
Phone:
***
Fax:
Email:
***[email protected] (email)
Business Information
Business ID:
Name:
Balboa Capital Corporation
Address:
Main St #
City:
Irvine
State/County:
CA
Zip/Postal
Code:
Business
Phone Number:

We have reached out to the customer and provided the information per thier request

We received our January bill for an existing equipment lease and were surprised to find a new "Non AutoPay Fee" of $added to the monthly payment total When I called to inquire about it, the representative told me it was "a new company policy effective 12/30/16" We received no advance notice regarding the additional fee What a disappointment! I realize they are attempting to automate as much as possible, but tacking on additional fees without advance notice to clients is not a great way to do business We will be very hesitant about using them in the future

We used a company called Balboa Capital for leasesAs they had a A+ rating from Revdex.com of San Diego we did not feel the need to do a lot of research on them, and I assumed their lease agreements were standard onesThe proposal looked good and had an interest rate of around 16% which is high but we we were growing quickly and wanted to conserve cash at the timeBuried in the fine print was a clause we were not aware of that allowed them to charge us "rent" from the time we signed the lease until the time the equipment was approvedOf course there will be some time to get the equipment and approve itAs a result on a month lease we had to make monthly payment rather than 12, which increased the interest rate from 16% to around 50%To add insult to injury they also charge a "lease termination fee" of $3,000, and not a $buyout as shown on the proposalSo when you factor on the up front security deposit ( you will not get this back until you pay the "lease termination fee $3,

This company prays on small business, they lie and provide zero customer serviceMatthew Bartlett a sales guy is worst than a use car salesman
I took out loan, everything was going well until they strayed villkng me for thousands of dollars that neither their customer service or Matthew Would give me any time of clear action
Finally I talked to collections, after I was told the amount owed would be paid st the end of the loan, than I find out months later that they had reported me late on my personal credit report even thought we had an agreement while I searched for answers as to why this money was awed
No one in this company caresMy credit report now has s late payment, first late payment in over years
No respect for their customers

Balboa capital - *** *** was my contact I was VERY thorough and straight forward in regards to NOT running my credit This has been done without the intention of Balboa Capital following the guidelines that Leonard proposed I am requesting that the credit check be withdrawn and removed from the companies utilized

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.Problem:Balboa Capital Corpand ** *** entered into a lease for equipment on or about December (Lease No***) (the "Lease")For the duration of the Lease, Balboa has overcharged ** ***, debiting over $1,each month instead of the express $1,lease rateThen, the Lease was automatically renewed without ** ***'s consent because of language buried in fine print under Section of the LeaseNow that the renewal period has ended, Balboa refuses to allow ** *** to return the leased equipmentOn February 9, 2016, ** *** provided Balboa with its timely Notice of Intent to Purchase Equipment and Non-Renewal of the Lease, advising Balboa of ** ***’s intent to terminate the Lease, ** ***’s non-renewal of the Lease for an additional term, and ** ***’s intent to exercise its right to purchase (or alternatively, return) the equipment for fair market value under Section of the Lease** *** was unable to obtain any response from Balboa until August 10, when Balboa acknowledged receipt of ** ***’s timely NoticeBalboa informed ** *** via email that the renewal lease term did not end until October 2016, and that Balboa would send return instructions for the equipment two (2) weeks after ** ***’s final payment in October ** *** sent an email and letter confirming the agreement and requesting an exact date for termination, but Balboa has failed to respond to any communications after purportedly directing ** ***’s communications to Balboa’s legal department twiceOn September 27, 2016, ** *** sent its Offer to Purchase the Equipment for fair market value, and preserving ** ***’s alternative right to return the equipment pursuant to its February 9, Notice and follcommunications** *** sent additional emails on October 26, and November 8, demanding return instructionsTo date, Balboa has not responded to ** ***’s Offer or demands for return instructionsHowever, Balboa is continuing to debit payments from ** ***Desired Outcome:** *** would like Balboa to: (1) honor the non-renewal and termination of the Lease as of October 2016, (2) stop debiting payments from ** ***'s account, (3) IMMEDIATELY send instructions for return of the equipment, and (4) refrain from fraudulently submitting a negative credit report against ** *** for ceasing monthly payments when the Lease has already been terminated
Regards,
*** **

We had an issue with this business but they took care of us and delivered great customer service We are very please with the outcome

***In regards to the statement below, we reached out to the customer in an attempt to resolve the complaintWe advised the customer of the terms of the Agreement and that we would review any documentation he has in regards to the buyout at which time the customer hung up and terminated the call At no time did we ever inform the customer the call would be recorded. *** ** *** | *** *** *** *** | BALBOA CAPITAL | P *** | F *** | ***

Our company was expanding our facilities and needed to purchase some equipment We gave Balboa a good faith deposit, which represented one quarterly payment based on the anticipated amount of our purchase, in order to get credit approval We ended up purchasing $35k less equipment than planned We expected a lower acquisition cost would result in a lower lease payment However, that was not the case Balboa said the original lease payment (deposit) was for the full term of the lease They said they never agreed to reduce the lease payment Balboa has taken advantage of the disparity between the actual cost and the anticipated cost to improperly increase the lease rate We are now paying 10.7% instead of the agreed upon 4.7% Rather than default on the lease or be subject to an 18% late charge we have continued to make payments while attempting to resolve the situation with Balboa To date, we have had no success in getting Balboa to abide by the lease rate set forth in our pr

I have used balboa capital for my small coffee shop in 2015, to get a equipment loanI got a loan for a total of $23,with a deposit of $1,And I have been paying off $every month for the pass yearsAnd I have decided to buy out my loan and asked for a buyout price and Balboa just sent me an email with the buyout price statedWhich was $25,I was surprised with the ridiculous price for the buyout so, I called the payoff department to ask for a detailed information about the total amount I have borrowed, the rate of the interest and the exact amount that I have paid off till today, and get a clear understanding of why the buyout amount is larger then the amount borrowed including all the payments I madeAnd the person I talked to said "can't you calculate that in your head? And we do not provide any detailed information about the pricing you borrowed, paidoff, and interest rate." It's not like I called them and wanted to fight about it, I just wanted to

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution would be satisfactory to me. I will
wait for the business to perform this action and, if it does, will consider this complaint resolved
Regards,
*** ***