Public Mediation

C.K. vs. Dakota Financial

Screw-Up with Dakota Financial - Need Help!

C. K. vs. Dakota Financial
11766 Wilshire Blvd #550,, Los Angeles, California, 90025, United States
Amount Involved: $10,000.00
    • Claimant Seeks: View.
    • Claim #: 1226284
    • Amount Involved: 10,000.00
    • Filed On: Oct 28, 2016
    • Posted On: Nov 08, 2016
    • Complaint(s):
      • Bad business practices
      • Problem with a service
      • Customer service runarounds
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Statement of Claim
Complaints Involved (4) - View
Claimant says:
"This company Business Funding Solutions had found my husband a company that would finance an equipment to help with his credit standing. This company Dakota Financial somewhat helps unfortunate businesses with not so hot credit get back on their feet with a little higher interest and monthly rates. We signed on with this company through Business Funding Solution. The owner Coti Lawerence confirmed with my husband that its a 32 month term, of $1528 per month. We needed to put $10K security deposit and when we paid our term for 32 months we would get our deposit back unless we wanted to apply it towards the purchase of the equipment. So we paid the full term of the loan this past March 2016 and we still haven't gotten our deposit back. The Chief credit officer had stated to my husband that if he wanted his $10K back that he had to return the equipment. That's totally BS. We did our term and the equipment belongs too us and so does our deposit. We've emailed them and contacted them several times and no response back on our deposit. I've emailed their Chief of Operations Jessica and Title Anaylist Adrian, Sales and Marketing manager Charla and still no response back. We want our deposit back, we didn't work hard just so tis company can RIP our money off! It seems like with this Business Funding Solution and Dakota Financial that they are hiding something and RIPPING others off to."
...
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Additional Communication Between Claimant and Dakota Financial Hide
  • Oct 28, 2016, Claiming party added:

  • Why is it stated that our term is only 32 months on the contract and not 36 months? Very deceiving I would say. We never was told that we wouldn't get our deposit back. False information again given. If we were leasing this equipment from you for 36 months, then we should be getting 4 months payment back from Dakota Financial, correct? Since our term on contract stated 32 months and your charging us for 36 months plus taking our deposit??? Maybe Brian and Coti should have gotten their stories straight.
    We called over and over to Brian and all he did was give me the run around. So how am I suppose to feel and think. We need to clear this up and make things right. If our contract stated 36 months then it should have been stated on there, but it said 32 months. Also that purchase option wasn't stated that it needed to be paid at the end. We were told that when we complete our terms then we would get our deposit back. So please help and compensate where it needs to.

What Claimant Wants Hide
1. Refund: security deposit Nov 11, 2016 $10,000.00
2. Other – Pay for claim posting cost Nov 11, 2016 $7.99
Cash total : $10,007.99
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Respondent's Counteroffer Hide
The claimant's settlement terms were rejected with the following explanation:
  • I disagree with the explanation / grounds provided

    "Thanks for reaching out and I apologize if there was confusion regarding the circumstances where the $10,000 Security Deposit would be refunded.

    The term of the Lease is 36 months, not 32. The Lease you signed indicates that there is a Purchase Option price of $10,000 after the 36 month term. It is agreed that you elected to purchase the Equipment at the end of the Lease and that you did not return it.

    So, instead of collecting a different $10,000 from you, the $10,000 Security Deposit was applied to the Purchase Option price. You now own the equipment free and clear.

    Had you returned the equipment, the $10,000 Security Deposit would have been refunded.

    We have responded to the customer directly in the past regarding this question, despite the claim we did not. We have never hid from customer service complaints and are glad to provide additional explanations.

    Please let us know if there are any questions.
    "

This claim will remain posted until resolved.

  • 0
Do you agree with the respondent’s Response?  (If you are a party to this claim, click here.)
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