Balboa Capital Corporation

We have reached out to the customer and reached a resolution that is satisfactory for both parties.

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

[redacted]
We did not mislead the customer and are simply abiding by the terms of the Agreement that were signed by both parties.
 
 
[redacted]| [redacted] |BALBOA CAPITAL| P[redacted]| F[redacted]

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.
I spoke to a representative of the company last Friday. She advised me to send a letter which she could present to the owner. I did this today. I am a small business owner juggling work in the winery with time in the office and this was the first moment that I had to be able to put together the letter as it was requested. I have responded with my request, as discussed with their representative on Friday. I was a couple of days late in sending the letter but I emailed her to let her know this would be the case given my work week. I'm getting really tired of being strong-armed by this company.
Regards,
[redacted]

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.
Was called by representative of Balboa Capital and was immediately told that I should have read what I signed - very rude and unprofessional.
 
I triied to talk but ended the conversation by hanging up due to the lack of professionalism
No resolution has been made at this point.
I need resolution to current lease due #[redacted] with what they call fair market value of (2) 2005 Wabash Reefers - they have $36,729.00 (I do not know how they calculated this) - I did not sign a fair market value lease
Second I need to know the payoff for the other outstanding note [redacted] -last noote I have with them
Regards,
[redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me.  The complaint was immediately resolved and I consider it resolved.
Regards,
[redacted]

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.
 
Regards,
[redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], 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 still do not agree with the business practices that are occurring however I have to protect my own interest in getting the deposit back of $6620, the contract that they sent us enables us to do this with only a moderate loss because of the interest rates that they charge. We are still trying to resolve an issue with them on another contract that was not done correctly a few years ago, where the financing was sent to us as a lease agreement, this was not discovered until this issue came up. We have had no luck in resolving that matter and continue to pay on a set of dumpsters that should've been paid off last year.
Regards,
[redacted]

We have reached out to the customer and reached a resolution that is satsifactory to both parties.

We have reached out to the customer and come to a resolution that is satisfactory to both parties.

We have left several messages in an attempt to resolve the complaint, but have gotten no response. We are abiding by the terms of the agreement that were signed and agreed to by both parties.

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.
Ms. [redacted]Revdex.com of Middle [redacted]  Dear Ms. [redacted],  I represent Mr. [redacted] and [redacted] in connection with their leasing agreement with Balboa Capital (“Balboa”). Balboa has misled, mistreated, and misused Mr. [redacted] and his company. We respectfully request your assistance in remedying this situation.  [redacted] designs and manufactures tools, among other services. This work requires heavy machinery. Over several decades of successfully running his business, Mr. [redacted] has discovered that lease-purchase agreements are the most economical means of acquiring this equipment.  Beginning in approximately January 2012, Balboa began soliciting Mr. [redacted]'s business. From the beginning, Mr. [redacted] made it clear, in no uncertain terms, that he was seeking a lease-purchase agreement to acquire two pieces of machinery. In other words, Mr. [redacted] was seeking a finance company who would pay the purchase price for his equipment. At that point Mr. [redacted] could take possession, repay the finance company over an extended period of time, and, having completed the terms of the lease, take title to the equipment at no additional cost (or a very minimal cost, depending on the duration of the lease portion of the agreement). Balboa repeatedly represented that it understood Mr. [redacted]'s request and would be happy to provide the desired lease-purchase financing agreement. In a June 28, 2013 letter to Balboa (the first written exchange between the two parties), Mr. [redacted] once again emphasized that he was seeking to "lease purchase" the equipment in question. In response to this letter, Balboa sent the first of two leases, which Mr. [redacted] signed in reliance on their representations that it was a lease-purchase agreement. Relying upon those same representations, Mr. [redacted] signed a second, substantially similar, lease for a separate piece of equipment later that year. As a result of Mr. [redacted]'s repeated statements of his desire to enter into a purchase lease agreement and Balboa's repeated representations that they would enter into exactly that type of financing arrangement, Mr. [redacted] reasonably believed that he had signed two lease-purchase contracts.  Problems with Balboa quickly arose. Despite their knowledge that [redacted] was tax exempt and receipt of a tax exempt form, Balboa abused their right to access [redacted]'s bank accounts by withdrawing unauthorized funds, purportedly for sales tax. Likewise, Balboa withdrew funds and applied them to the wrong leases. Frustrated by Balboa's poor business practices, Mr. [redacted] requested a pay-off estimate to determine how much it would cost for him to simply pay-off the remainder of the lease and take title to the purchased equipment, pursuant to his long-established wishes and understanding with Balboa.  In the pay-off quote sent to Mr. [redacted] on March 18, 2015, Balboa finally, for the first time, revealed that the contract they sent to Mr. [redacted] was not what they represented. Mr. [redacted] would be required to buy the equipment from Balboa, at an inflated price arbitrarily set by Balboa, at the conclusion of the lease if he wanted to keep it. (In fact the price set by Balboa was substantially greater than the fair market value of the equipment, and it gave no credit for the payments already made by Mr. [redacted].) This is not the deal that Mr. [redacted] requested. Nor is it the deal that Balboa repeatedly represented they were giving him. The purchase option presented by Balboa would essentially require Mr. [redacted] to pay twice the purchase price for the equipment--once for his payments under the lease, and again upon his exercise of the purchase option. Furthermore, as a result of Balboa's misrepresentations regarding the nature of the leases sent to Mr. [redacted], Mr. [redacted] missed the automatic renewal provisions hidden in the lease's fine print. As a result, Balboa is now attempting to saddle Mr. [redacted] with yet another year of lease payments.  These business practices are unacceptable, unethical, and tortious. In particular, such practices violate [redacted] Code Annotated § 47-18-104(b)(12), the [redacted] Consumer Protection Act and constitute fraudulent inducement to contract. As a quick review of previous complaints against Balboa listed on your website demonstrate, Balboa has employed precisely this kind misleading, bait-and-switch routine many times before. Of the thirty-one complaints currently on file against Balboa, several involves exactly this kind of mistreatment. Mr. [redacted]'s first lease with Balboa is nearing the end of its original term. Mr. [redacted] would simply like what he bargained for. He agreed to a lease-purchase financing deal, and would simply like title to the equipment that he has already paid for and to which he is already entitled. I request your assistance in forcing Balboa to do the right thing by allowing Mr. [redacted] to pay off the balance of the leases and transferring title to this equipment to Mr. [redacted] without any additional payments, as agreed in their original negotiations.  Sincerely,    [redacted]    cc [redacted], [redacted], Balboa Capital Corporation
Regards,
[redacted]

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

We have reached out to the customer and 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 [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
They emailed us 4 transactions only with fees attached not ever mentioning why we were charged these fees when asked. In addition, the only submitted pay off information and not a history of all the transactions with dates and amounts as requested. Lastly, they have not surprisingly continued to ignore our request for refunding us back the bank fees that we incurred as a result of them. They are basically giving us the run around and providing us with minimal information without explaining fees, etc.
Regards,
[redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], 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.This issue has been resolved finally.
Regards,
[redacted]

We have contacted the customer and provided all the requested info to satisfy the complaint.

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.
Balboa Capital is not following the terms of agreement.  Lease terms and conditions on page one states" Base term in quarters 12, Security Deposit 1 payment.  Doc Fees 250.00."  I have met these payment requirements.  They are unwilling to properly communicate an appropriate transparent response as to how this matter can be resolved.  All I am seeking is a detailed and clear breakdown of what obligations I am in their view responsible to close out this contract.  My expectation is that all funds collected since 2013 should be properly applied to my lease to own agreement as it was assured by my dealing with sales associate [redacted].  The way they have conducted their business has been unethical, misleading and unresponsive
Regards,
[redacted]

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.
To date, there are 41 documented complaints against Balboa on the Revdex.com site.  It is not a coincidence that at least 20% of those complaints describe the exact same scheme: that Balboa tricks their customers into unfair agreements.  The pattern is clear--and it is well-documented--that Balboa makes oral promises to lease equipment to customers with a $1.00 buyout at the end of the lease term, then Balboa sends them a written agreement with different terms buried in microscopic print (roughly 8 point font, or smaller).  Balboa tactfully misled and trapped us in an unfair agreement, just as it has misled its other customers.
The Revdex.com should not allow Balboa to continue to profit from this unfair and deceptive bait-and-switch tactic.
Regards,
[redacted]

Revdex.com:
I spoke with [redacted], the supervisor at Balboa Capital today at 2:10 p.m. pst and have reached a "tentative" agreement with the 3.9% financing offer that was originally given to me.  He will...

forward me the documents required to obtain this financing rate, however we are just starting this process, therefore will take ample time to reach an accord.  He did absolve the matter of the original sales agent, [redacted] being "new" to the company for the error involved.  Regards,
[redacted]