Axin Financial Services, Inc.

Complaint Experience

N/A

BCA's Summary and Analysis:

Most complainants allege dissatisfaction with the 48 month non-cancelable lease agreement terms. Complainants allegedly relied on verbal promises by affiliate salespersons from merchant services companies, who use Axin Financial to finance their clients lease agreements. Some complainants reportedly were advised that they would retain their cancellation rights for 30 days. Complainants allege verbal misrepresentations of cancellation rights, or that complete pre-purchase disclosures on actual, or additional costs to implement processing services are not supplied at the time of purchase. Several complainants allege unauthorized deductions from bank accounts, or they are unable to implement or use processing equipment due to business failures, or non working equipment. A few complainants reportedly never receive equipment, but later find that monthly charges are deducted from their bank accounts without their authorization. Most complainants request contract cancellations and refunds.

The company responds to all complaints by denying all refund and contract cancellation requests. They contend the complainant had passed the three day cancellation period, or the complainant had been advised of the non-cancelable agreement status. Many responses contain information on the credit histories of the complainants, and imply or in some cases directly accuse the complainants of credit unworthiness or evading their responsibilities. Some complaints remain unanswered.

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