We received an offer to finance our vending machines from Five Point Capital. It looked like what we needed to finance our machines; unfortunately that was our first mistake.
We spoke to Chris Donnelly and he explained the tax benefits of leasing and made it sound like a great deal. Unfortunately he did not explain the whole deal!!!! We signed the lease and made all payments to Fleet Financial. We were glad when we finally finished paying them. Well to our surprise I am told by Fleet to contact Five Point for some kind of buyout..which I never heard of before then!
I contacted Five Point and received and email from Raffi Varjabedian saying that since I finish paying the lease I have to send them $2,595 for the vending purchase price....when I tell him that I have paid the lease and that is this was only a way to purchase this equipment he sent me an email with the lease that is unreadable and in tiny blurry letters and claims that we signed and now we owe it! On top of that when I told him I paid Fleet already he told that did not matter I owed them $2,595. He was rude on the phone so I basically quit communicating with them..about 2 months later I get a bill from Five Point Capital for the same monthly bill I was paying Fleet!!!
I called them again and got Raffi....I wonder if he's the only one working there... he told me that I did not send a 120 day letter stating that I did not want to lease but buy the machine and now the lease has automatically renewed for another year which totally blew me away at that point... that was not even told us at any time!!!!
I then got the email from Sandra Ortero; I will not deal with her either.. they must take rude training at this company to deal with customers. They have now turned us over to an attorney so I do not know what will happen. Our company has gone out of business because of the economy.
Do not, under any circumstances, do business with this company!!!!! They do not tell you the whole truth when you are dealing with the customer service. I have also reported them to the San Diego Better Business Bureau...which really did not help, but at least it's there. I would be interested in joining a class action suit if anyone knows of one out there
I come from a financial background. What Five Point is doing or has done is wrong and I feel like this company has engaged in bait and switch practices or is actively decieving their customers. Our company inquired about a final payment (we paid a deposit to allow for first and last payment) and signed a lease with the understanding it would be done (fully paid) in 5 years. We paid about $10K in interest for a $20K purchase on equipemnt. So, they got $10K profit already, minimum, from our transaction. Our company has had prompt and excellent payment history. We were awaiting word on the final payment when we got a letter stating - due to our not contacting them for payoff information - that we would be paying another full 12 mos. payments at the same payment per month for 12 full months - WHAT????. To which, my bookeeper immediately called and asked what was going on. They strong armed her into trying to admit it was her fault and they are HORRIBLE at customer service. She finally said she took fault and said she could have called earlier. But, she had left emails and not gotten any response. They must do this all day long b/c they have no intention of admitting they could be doing something differently and they - at the drop of the hat - refer to recorded phone calls they apparently have on file - stating we are the ones who have done something wrong? I also dealt with this Sandra Otero who is relentless. She goes right after you and makes no apologies for screwing you over. She makes no effort to make things right and clearly states that you CAN NOT get a FMV payoff..."it is too late".. "we are unable to quote you that" "since you did not ask for that at an earlier date".... So, now I pay them another $5K plus for 12 months and then pay them what at the end of that 12 months? This is ridiculous! Who does business this way? Help!
My experience with Five Point Capital, now known as National Funding, has been the worst business to business experience I have had in my 30 years of working. My experience like many other complaints here is that we had a 1$ buyout lease, but at the end of the lease term it was magically a fair market value lease with an inflated value ont he assets. We are currently in negotiations with the firm, but we have since amassed so much information negative to any case they can make in court that I figure we will go that route since their lawyer is now stonewalling our lawyer.
I have statements from current and/or former employees of Five Point Capital/National Funding that state that they made changes to $1 Buyout leases and converted them to Fair Market Value leases. Sandra Otero, who does all the bidding for Dave Gilbert the CEO, will come across to you as a souless individual in my opinion. Don't waste your time with her and don't believe what she tells you. She withdrew $17,000 from our account without permission and told me ACH could not put the money back. If fact she could. She did so a week later after we applied pressure to the firm.
I recommend you look up the lawyers we are working with, Nick Yocca in Irvine, CA and Scott Nathan in Tustin, CA. They have experience dealing the the National Funding lawyer, Neal Salisian. I expect we will be going to court in San Diego. I suggest you do, too. Dave Gilbert, the FPC/NF CEO, does not want the bad PR of his lawsuits in his own backyard I suspect. That is probably the reason they file suit in Orange and LA counties. Right now they are trying to silence what I know in the settlement agreement. If you want to join in a lawsuit look up our lawyer Nicholas Yocca of the Yocca Law Firm in Irvine.
"My experience with Five Point Capital, now known as National Funding, has been the worst business to business experience I have had in my 30 years of working. My experience like many other complaints here is that we had a 1$ buyout lease, but at the end of the lease term it was magically a fair market value lease with an inflated value ont he assets. We are currently in negotiations with the firm, but we have since amassed so much information negative to any case they can make in court that I figure we will go that route since their lawyer is now stonewalling our lawyer.
I have statements from current and/or former employees of Five Point Capital/National Funding that state that they made changes to $1 Buyout leases and converted them to Fair Market Value leases. Sandra Otero, who does all the bidding for Dave Gilbert the CEO, will come across to you as a souless individual in my opinion. Don't waste your time with her and don't believe what she tells you. She withdrew $17,000 from our account without permission and told me ACH could not put the money back. If fact she could. She did so a week later after we applied pressure to the firm.
I recommend you look up the lawyers we are working with, Nick Yocca in Irvine, CA and Scott Nathan in Tustin, CA. They have experience dealing the the National Funding lawyer, Neal Salisian. I expect we will be going to court in San Diego. I suggest you do, too. Dave Gilbert, the FPC/NF CEO, does not want the bad PR of his lawsuits in his own backyard I suspect. That is probably the reason they file suit in Orange and LA counties. Right now they are trying to silence what I know in the settlement agreement. If you want to join in a lawsuit look up our lawyer Nicholas Yocca of the Yocca Law Firm in Irvine.
Five Point Capital Reviews
We received an offer to finance our vending machines from Five Point Capital. It looked like what we needed to finance our machines; unfortunately that was our first mistake.
We spoke to Chris Donnelly and he explained the tax benefits of leasing and made it sound like a great deal. Unfortunately he did not explain the whole deal!!!! We signed the lease and made all payments to Fleet Financial. We were glad when we finally finished paying them. Well to our surprise I am told by Fleet to contact Five Point for some kind of buyout..which I never heard of before then!
I contacted Five Point and received and email from Raffi Varjabedian saying that since I finish paying the lease I have to send them $2,595 for the vending purchase price....when I tell him that I have paid the lease and that is this was only a way to purchase this equipment he sent me an email with the lease that is unreadable and in tiny blurry letters and claims that we signed and now we owe it! On top of that when I told him I paid Fleet already he told that did not matter I owed them $2,595. He was rude on the phone so I basically quit communicating with them..about 2 months later I get a bill from Five Point Capital for the same monthly bill I was paying Fleet!!!
I called them again and got Raffi....I wonder if he's the only one working there... he told me that I did not send a 120 day letter stating that I did not want to lease but buy the machine and now the lease has automatically renewed for another year which totally blew me away at that point... that was not even told us at any time!!!!
I then got the email from Sandra Ortero; I will not deal with her either.. they must take rude training at this company to deal with customers. They have now turned us over to an attorney so I do not know what will happen. Our company has gone out of business because of the economy.
Do not, under any circumstances, do business with this company!!!!! They do not tell you the whole truth when you are dealing with the customer service. I have also reported them to the San Diego Better Business Bureau...which really did not help, but at least it's there. I would be interested in joining a class action suit if anyone knows of one out there
I come from a financial background. What Five Point is doing or has done is wrong and I feel like this company has engaged in bait and switch practices or is actively decieving their customers. Our company inquired about a final payment (we paid a deposit to allow for first and last payment) and signed a lease with the understanding it would be done (fully paid) in 5 years. We paid about $10K in interest for a $20K purchase on equipemnt. So, they got $10K profit already, minimum, from our transaction. Our company has had prompt and excellent payment history. We were awaiting word on the final payment when we got a letter stating - due to our not contacting them for payoff information - that we would be paying another full 12 mos. payments at the same payment per month for 12 full months - WHAT????. To which, my bookeeper immediately called and asked what was going on. They strong armed her into trying to admit it was her fault and they are HORRIBLE at customer service. She finally said she took fault and said she could have called earlier. But, she had left emails and not gotten any response. They must do this all day long b/c they have no intention of admitting they could be doing something differently and they - at the drop of the hat - refer to recorded phone calls they apparently have on file - stating we are the ones who have done something wrong? I also dealt with this Sandra Otero who is relentless. She goes right after you and makes no apologies for screwing you over. She makes no effort to make things right and clearly states that you CAN NOT get a FMV payoff..."it is too late".. "we are unable to quote you that" "since you did not ask for that at an earlier date".... So, now I pay them another $5K plus for 12 months and then pay them what at the end of that 12 months? This is ridiculous! Who does business this way? Help!
My experience with Five Point Capital, now known as National Funding, has been the worst business to business experience I have had in my 30 years of working. My experience like many other complaints here is that we had a 1$ buyout lease, but at the end of the lease term it was magically a fair market value lease with an inflated value ont he assets. We are currently in negotiations with the firm, but we have since amassed so much information negative to any case they can make in court that I figure we will go that route since their lawyer is now stonewalling our lawyer.
I have statements from current and/or former employees of Five Point Capital/National Funding that state that they made changes to $1 Buyout leases and converted them to Fair Market Value leases. Sandra Otero, who does all the bidding for Dave Gilbert the CEO, will come across to you as a souless individual in my opinion. Don't waste your time with her and don't believe what she tells you. She withdrew $17,000 from our account without permission and told me ACH could not put the money back. If fact she could. She did so a week later after we applied pressure to the firm.
I recommend you look up the lawyers we are working with, Nick Yocca in Irvine, CA and Scott Nathan in Tustin, CA. They have experience dealing the the National Funding lawyer, Neal Salisian. I expect we will be going to court in San Diego. I suggest you do, too. Dave Gilbert, the FPC/NF CEO, does not want the bad PR of his lawsuits in his own backyard I suspect. That is probably the reason they file suit in Orange and LA counties. Right now they are trying to silence what I know in the settlement agreement. If you want to join in a lawsuit look up our lawyer Nicholas Yocca of the Yocca Law Firm in Irvine.
"My experience with Five Point Capital, now known as National Funding, has been the worst business to business experience I have had in my 30 years of working. My experience like many other complaints here is that we had a 1$ buyout lease, but at the end of the lease term it was magically a fair market value lease with an inflated value ont he assets. We are currently in negotiations with the firm, but we have since amassed so much information negative to any case they can make in court that I figure we will go that route since their lawyer is now stonewalling our lawyer.
I have statements from current and/or former employees of Five Point Capital/National Funding that state that they made changes to $1 Buyout leases and converted them to Fair Market Value leases. Sandra Otero, who does all the bidding for Dave Gilbert the CEO, will come across to you as a souless individual in my opinion. Don't waste your time with her and don't believe what she tells you. She withdrew $17,000 from our account without permission and told me ACH could not put the money back. If fact she could. She did so a week later after we applied pressure to the firm.
I recommend you look up the lawyers we are working with, Nick Yocca in Irvine, CA and Scott Nathan in Tustin, CA. They have experience dealing the the National Funding lawyer, Neal Salisian. I expect we will be going to court in San Diego. I suggest you do, too. Dave Gilbert, the FPC/NF CEO, does not want the bad PR of his lawsuits in his own backyard I suspect. That is probably the reason they file suit in Orange and LA counties. Right now they are trying to silence what I know in the settlement agreement. If you want to join in a lawsuit look up our lawyer Nicholas Yocca of the Yocca Law Firm in Irvine.