Balboa Capital Corporation

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 is a deceptive, predatory leasing company that routinely abuses small businesses, has faced legal action for their practices and deliberately misguides customers with unreasonable contract terms
I entered into a contract with Balboa Capital four years agoI am nearing the end of my contract term (attached) and notified Balboa in both June and March that I would not be renewing the contractBalboa is claiming they have no record of these mailings and directed me to the fine print in their contract where they say you must notify them by certified letter Every representative I have spoken with over the course of this lease has been deceptive, unhelpful and threateningIn addition, they make it nearly impossible to warn others about the companyThey have turned off all of the comment sections on their social media (which should be a red flag that what they are doing is unethical)They add hidden fees to everythingTheir salespeople are slick and lie a

The company's Billing department has been very inconsistent with their method of delivery of invoicesAt our Company, we make weekly check runs during which all invoices received during the week are paid on a timely manner and frankly the only company we seem to have the same consistent issue is Balboa Capitalwe offered *** payment to try & avoid the late payments, but unbeknownst to us we were billed a $CC fee the next month on our billTheir policy of waiving one late fee in duration of a loan would be an acceptable policy if their billing department would send out (mail or email) invoices consistently This coupled with the unsatisfactory equipment that is under the financing with Balboa, leaves no room for us to be forced to paying late fees when we're not at fault

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
There is no attached document as stated in the email, "The business has sent the Revdex.com a message regarding this complaint, and we are passing it on to you. The contents of this message are attachedPlease respond to this message at your first convenience via mail, email or fax. If there is no response to this request within 7calendar days, the Revdex.com will assume that your dispute has been resolved."
Regards,
*** ***

We have reached a resolution that is satisfactory to both parties

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,
*** ***

We have reached out to the customer, but were not able to reach a resolution that is satisfactory to both parties

We have made several attempts to contact the customer and resolve the complaint, but are not getting any call back or response

We signed a 36-month lease agreement in February with Balboa Capital, *** ***, Account Representative We started to notice this loan was not what we had discussed with *** when we started requesting payoffsWe would get a payoff on the loan for more than the original amount financed and they would request the equipment to be returned once loan was paid in fullSo, we toughed it out and decided we would pay the months and return the equipmentWe received a letter in June asking what our intentions were with the loan if we had any additional financing needsWe called and left (2) messages for there Portfolio Manager, *** ***, on 06/30/& 08/31/She never returned our callWe then mailed a letter on 07/31/stating we would like to know how much the FMV of the equipment was and return instructions for the equipmentUnfortunately, we did not read the fine print and did not mail the letter "Certified Mail." We also contacted *** *** (Account Re

We have reached out to the customer and advised we are willing to work under the conditions of the Agreement signed by both parties

I worked with *** *** at Balboa Capital in Apr to put together a "lease to own" agreement for a piece of equipment for *** ***
He sent me an agreement to be printed, signed and faxed back to themI sent checks for $and $1,071.60, which they deposited
The agreement included Addendum “A”, prepared by Balboa Capital stating that at the end of the lease, I can purchase the chiller at the fair market value of 0%
I was to make quarterly payments
After the payments, I called them (7/5/16) to let them know that my agreement should be completedThey told me that in a very fine print portion of my agreement says that I needed to send them a letter in at least days and no more than days prior to the end of the original term, that I wish to purchase the equipment at fair market value, or my agreement would automatically renew for another year
Also that they had no record of my agreement being a lease to ownThey told me that I now

My problem started a month ago with Balboa Capital, when I realized after being charged a much different amount on the second statementWhen I called customer service they informed myself that I was leasing and not purchasing a piece of equipment that I located private saleI was lead through a process via phone / e-mail with sales manager *** Wan in which I was very clear with *** I wanted a loan for 25K and was certainly not interested in leasing the piece of equipment I located in Boston*** Wan also told myself that Lease was their terminology and assured me it was a loan I made a mistake in not reading the fine print and signed online only looking at the payment amount we discussedpayments of $, this made sense that would figure out to the 5% interest on amount of loan over term Since 9/I have worked diligently , finding a new lender and asking for a payoff of the agreement with BalboaAfter several e-mails including my new lender , we received thre

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.I wanted to let you know that my complaint against Balboa Capital Corporation has been rectified. They finally produced the payoff amounts I had been requesting for months. I will never do business with them again but you can certainly close the case
Regards,
*** ***

They make it nearly impossible to reach them by phone yet their web site will not let you make a payment for other then what they think is dueWhen the payment doesn't get accepted you have no choice but to be late making a paymentThey then hit you with a ridicules late feeTwice I have tried to make payments when then are due and was unable to do soI then tried to reach them by phone tried different number all tell me I have any where from to second wait, it has now been minutesI pressed to leave a number and it tells me it is an invalid extensionI have looped through their phone system numerous times from sales to customer service to early buy outNever a humanI started the phone process at 4:it is now 5:on a ThursdayIf this were a one time issue I would let it pass but this is a pattern and I refuse to be held captive to their scam

BEWARE!! We leased $15K of equipment from them and will end up paying almost $30K at the end of the day We didn't do a $buyout option with them and didn't give them a ridiculous day notice to end the lease So they renewed our lease for another year and are now telling us our buyout is $for year old equipment! They have no empathy or reasonableness with their customers Would NEVER refer them or use them again

We have sent the info requested and called several times to confirm receipt, but we have not heard back from the customer

In Jan 15th, I entered a lease agreement for installments over a month period with a $buyout clause Balboa Capital had me sign another agreement on Feb 13, for a installments for months We agree on payments of $ And I sent them a security deposit of $ I called Balboa to make sure that we where showing the same payments left for my lease agreement, and to my surprise they do not show my payment of $as part of the lease payment, only a rental payment So I owe them an extra payment of $2128.98, which does not add up to what my account had on the lease payoff My lease payments should of started on March 13, the equipment was already installed Customer Service told me that this money was purely for rent As stated in Balboa's Hold Harmless Letter Agreement the interim rent shall continue to accrue from the date of such delivery and acceptance certificate through the first day of the following month, which would be April I paid

We have reached out to the customer several times in an effort to resolve, but have not gotten a response back

We have spoken to the customer and reached a resolution that is satisfactory to both parties

As discussed with the customer, Balboa Capital is abiding by the terms of the agreement that were signed and agreed to by both parties