Weekly Bulletin Board Complaint Report

#1 Yabba Dabba Do ---a fictitious name for this report

http://www.topthat.net/webrock/sounds/fred-f.wav

Today is the 44th day since the day of the invoice to our customer. Yabba Dabba Do still has not paid us. Since I talked to you last they were scheduling an inspection of the equipment and wanted proof that we had paid for the equipment and proof that we had an established account with “Car Rental Company.” (whom we have buying equipment from for several years) - But yet again - it changed. They did a new loan package with a different lease company because we would not accept 1/2 of the money upfront and 1/2 after it was delivered. They are charging our customer $545.00 on top on his loan to pay us in full. Something we have never had happen with any of our customers. Our customer started with Yabba Dabba Do 6 weeks ago. He was told he was pre-approved before he even started looking for equipment.

I talked to ******* the Sales Manager at Yabba Dabba Do yesterday. He said the money might go out today. That is what ****** their Controller told me 2 weeks ago. I faxed her our wire transfer information. When ***** told me the money might be mailed out today. I told him we expected a wire transfer, which he says he knew nothing about.

I called again this morning and there is no-one there to speak to live. Not even the receptionist. On the rare occasion the receptionist answers she screens the calls. Everyone has their voicemail on. ********** who was the Account Executive has not once ever returned my calls!

If you listen to their voice-over regarding while you are put on hold, they talk about how wonderful their customer service is. (Not at this location). I get the feeling it is a small office, where there is no accountability, professional courtesy or responsibility.

We have tried to get out customer to work with one of our lenders. He feels he has invested too much time and money with Yabba Dabba Do. I want to write a letter to Yabba Dabba Do Corp. Office - (when and if we get the funds) Thanks for letting me vent.

Let me know if you have any advise.

(The leasing company said they were waiting for an insurance certificate. The contractor needed to increase his policy, and then wanted to get a “competitive bid.” The problem is they did not tell this to the vendor, who had a “finance” with 25% down program. A site inspection was to be made, and then they learned the lessee did not have the equipment, nor did the dealer, but it was still at “Car Rental Company,” so this had to be approved by the funder, and in the next two weeks of conversations with all the parties, it was determined the equipment would be located not at the company headquarters, but a job they were doing in another state, so the insurance binder had to be changed, as well as the site inspection. We kept telling the vendor that the leasing company had a good reputation and this was not uncommon for a used piece of equipment, especially under all the circumstances. Twenty days after the original complaint, we received this e-mail: “ I guess I do still believe in miracles.  We just got the check for $78,000. “Thank you for your intervention.”

#2 You Know Who in Florida
We received this complaint on August 5 th , 2004, and have
not written about it as it has become so complicated, now
involving the FBI and Florida attorney general, we are told.
“I was referred to you by Bob Baker of Wildwood FS Group.  He strongly recommended I get in touch with you regarding the ****** in Florida.

”They are currently holding almost $100,000 of my money and I am spearheading an effort to go after them.

”I have talked to many people and done a lot of research.

”I would like to talk to you and see if you can help us with a story to get possible injured parties to contact us for a class action CRIMINAL suit.”

“ if you decide to publish our story you can call it the Indonesian thing as the funding was to fund in that country.  From what I understand he likes to target the International community to stay away from US Law.”

The party named in this stated he has never heard of the person,
nor of the money, and has so many deals, he would not know which
one in Indonesia the person was talking about.

#3 $10,000

http://www.topthat.net/webrock/sounds/bamm.wav

“I have been working with a company named “Bamm Bamm”.  aka “ScoobyDobeDo” who's parent company is “Capital for Everyone” out of Laguna Beach and Las Vegas, Nev.  “Bamm Bamm” is in the industry of equipment leasing, and was wondering if there were any complaints about them?  or any orgs I can contact to inquire about it?

“I sent in $10,000 for a business loan, and it appears to be an advanced fee scheme...the proposal was not satisfied by them, yet won't refund my money without signing a "settlement letter" that frees them of harm.  It's a refund not settlement.  I think they know well what they are doing and are trying to cover their bases.”

Leasing News called the company to find out their side of the story, and they said they would get back to us. We did not hear from them, but the person who sent in the complaint sent us an e-mail later

the same very day:

“Thanks for your help. I am in the process of getting the money back...they do want me to sign a settlement letter and retract my complaints,I should get the check in a couple days, and will forward this information at that time.

“I am with you for sure,  its been a nightmare and a lesson learned!

“They are legit, but may be doing some shady things on the side...it appears, but I am sure they do not want the notoriety!

“Thanks again,”

#4 Alert Removed

A company named in an alert asked us to investigate the
situation. Originally they would make not statement, but
when they tried to put together a $100,000 lease,the
funder found the alert on Goggle and turned thevendor
down. He stated he didn't at first believethe “alert”
meant anything.

In looking into the matter, it appears more complicated. Both the discounter and the funder have not returned with information requested. As important, the funder does not want his name printed in the bulletin board complaint forum.
Basically, the complaint centered around a transaction that was actually a “sales/leaseback” and the discounter said they were not aware of the situation. The vendor had sold a $50,000 computer system and six months later,the customer decided he would rather have the cash. The vendor had done business with the “discounter” and referred the lessee to them. The vendor told Leasing News he arranged the lease for a ten percent fee (he said that is what business brokers get.) He also stated he had completed several of these with “ a broker in Texas,” who charged ten percent. The dealer did not believe he did anything illegal, and thought such a transaction was not “unusual” in the leasing circle. He says he has completed over a dozen of these transaction in the last year. In fact, the funder found out about it when the first payment was in default and the lessee said he needed cash because a major account had defaulted on what they owed him, and that is why he entered into the lease. The parties involved claimed they were not doing anything illegal. There are other circumstances to the alert, including the relationship between the “discounter” and “funder.” Until it is cleared up, the alert is removed.