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- Jun 9, 2011
So, my boy is being screwed by a company who agreed to lease a computer out to him.
His was stolen, he is not broke but he can't afford to pay it out in full and when he got a great deal that only made him pay around $250 out of pocket for a 12 payment lease he went for it.
This is what it stated:
1. Term and Termination
a. The term of this Lease Agreement shall be for a period of 18 Months, beginning 03/23/2015 and ending on 08/23/2016.
b. Upon expiration of this Agreement, Lessee will either A) purchase the Product for $1.00 or B) ship the product to 199 Main Street, White Plains, NY 10601 and bear the cost of shipping.
c. Neither party may terminate this Lease Agreement.
d. The Equipment is and shall remain the exclusive property of Lessor until Lessee has paid all of the payments described in this agreement.
2. Payments - In consideration for the use of the Leased Equipment, for so long as this Agreement remains in force, Lessee agrees to pay Lessor the sum of $211.10 per month. The first such payment will be due on 03/23/2015, and thereafter payments will be due on or before the 23rd day of each month, with the twelfth and final payment to be made on or before 08/23/2016. Payments will be made by ACH debit from Lessee’s bank account provided. Pre-payments may be made by lessee without penalty.
Problem? It's an 18-month lease but in the contract it very clearly stated that there was 12 payments
"The first such payment will be due on 03/23/2015, and thereafter payments will be due on or before the 23rd day of each month, with the twelfth and final payment to be made on or before 08/23/2016."
This guy means a lot to me and it's sad to see him freaking out over this. This is the fault of the company right? It states that they can't terminate the lease and that neither can my boy unless they both agree to it. Now they're trying to pull a "we made a mistake we'll fix another contract" after he made the first payment.
His was stolen, he is not broke but he can't afford to pay it out in full and when he got a great deal that only made him pay around $250 out of pocket for a 12 payment lease he went for it.
This is what it stated:
1. Term and Termination
a. The term of this Lease Agreement shall be for a period of 18 Months, beginning 03/23/2015 and ending on 08/23/2016.
b. Upon expiration of this Agreement, Lessee will either A) purchase the Product for $1.00 or B) ship the product to 199 Main Street, White Plains, NY 10601 and bear the cost of shipping.
c. Neither party may terminate this Lease Agreement.
d. The Equipment is and shall remain the exclusive property of Lessor until Lessee has paid all of the payments described in this agreement.
2. Payments - In consideration for the use of the Leased Equipment, for so long as this Agreement remains in force, Lessee agrees to pay Lessor the sum of $211.10 per month. The first such payment will be due on 03/23/2015, and thereafter payments will be due on or before the 23rd day of each month, with the twelfth and final payment to be made on or before 08/23/2016. Payments will be made by ACH debit from Lessee’s bank account provided. Pre-payments may be made by lessee without penalty.
Problem? It's an 18-month lease but in the contract it very clearly stated that there was 12 payments
"The first such payment will be due on 03/23/2015, and thereafter payments will be due on or before the 23rd day of each month, with the twelfth and final payment to be made on or before 08/23/2016."
This guy means a lot to me and it's sad to see him freaking out over this. This is the fault of the company right? It states that they can't terminate the lease and that neither can my boy unless they both agree to it. Now they're trying to pull a "we made a mistake we'll fix another contract" after he made the first payment.
