The Sleazemeter

It's not often I use profanity in a blog post, usually when I do I blow some steam and then go back and cleanup the verbiage (like I did just now, the title of this post was a lot more colorful in v1.0)

The background: We have over the years, used another Toronto company, who shall for the moment remain nameless, for some equipment leases. This company farms out the financing to various other companies. One of them was CitiCorp Vendor Finance, 123 Front Street West, 16th Floor, Toronto, On. 1-866-778-1393.

So my bookkeeper noticed something strange lately. She noticed that CitiCorp Vendor Finance has continued to make withdrawals from our bank account on two leases past the end of the lease terms. For eighteen months past the end of the term on each lease. Honest mistake right?

Well this is just how CitiCorp does business. Buried in the fine print of some unreadable funding agreement (which I'm still trying to figure out if we're even a party to), they assert that the responsibility is on us to inform them when the lease it up, and if we don't, they will just keep withdrawing the money.

I've never even heard of this company. As far as I'm concerned this isn't even my problem and I wish my leasing company (the one I entered into the agreement with) the best of luck in straightening this out. In the meantime, where's my money?

Well I called the president of the company today and he agreed that CitiCorp Vendor Finance was conducting an absolutely unacceptable cash grab and he was going to get on their case.

Then he made an intriguing comment...