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mowingtowing
12-17-2004, 11:48 PM
Im prety new here but hope to become a regular. I want to tell my story about my leaf vacuum being stolen and dealing with the loan company; Shefield Financial. Well, my brand new 16 hp giant vac was stolen and I hadnt made a payment on it yet. A couple days later (after trying to get renters insurance to cover it and filing a police report) I was reading my loan agrement and see a line that says "buyer protection plan cost is $0 I do___ Do not ___ want it" It covers incase of death or theft; I wouldnt be responsiable for remaining balence and I would not need to carry insurance on the equipment. Well that line was left unchecked by the people that i bought the vac from. Shefield asumes that since it wasnt checked, that I did not want the plan. WHO WOULD DENY A $0 PROTECTION PLAN??? Needless to say I will never do business with Shefield Financial ever again and I hope that people will think twice before they get a loan through Shefield.

out4now
12-17-2004, 11:55 PM
How is it their fault that the guy that sold it to you didn't tell you about it? It's more the salesmans fault.

mowingtowing
12-18-2004, 12:02 AM
Technicly i guess its my fault, it says at the bottom of the page "do not sign if there are any blank spaces" Ive tried many times to talk and reason with shefield to no avail. All they cared about was getting their money and not securing a good reference or future customer. They assumed that since it wasnt checked that I didnt want it, but I say I assume that since the cost of the protection plan was $0, that I automatically get it.

Kelly's Landscaping
12-18-2004, 12:06 AM
I think it would be their fault and not the guy that sold it for one reason. What the hell was the line doing in the contract in the first place if the insurance was free why make it optional thatís why its their fault.

I am not to fond of that company either I was buying 25 k worth of equipment in march 2003 and the guy said why not fiancť part of it so I said fine we could use another 5 k in start up so get us a loan for that. Needless to say I got denied for a lousy 5 k talk about embarrassing. Since then I have bought everything in cash more then 100k in trucks in equipment all paid in full I will not ever give them my business after that over a pitiful 5k their lose not mine.

out4now
12-18-2004, 12:06 AM
Crummy techinicality they are playing but if it wasn't checked and they tried to cover it anyway the insurance would see it as fraud. They need to better train the salesman. That $0 insurance cost would be a prime selling point.

mowingtowing
12-18-2004, 12:14 AM
When I was talking with shefield I asked them, "so if the line was checked "i do want it" would you cover the cost of the item" and the rep seemed to be very reluctant to anwser. Im just so frustrated that 1; someone stole from me and 2; that I was denied something that cost $0!!
My main goal with this thread is to make people aware of this crapy thing that has happened to me and to spread the word to think twice about shefield.
When I sent in my one and only, full payment I included a letter expressing my feelings in a very professional way and hope to get a response sometime soon; wether it be a call, a letter, whatever. I porbably have about as much of a chance of that happening as I do the people who stole the vac bringing it back...

Kelly's Landscaping
12-18-2004, 12:17 AM
Now how did you get your new toy stolen so quickly was it at work or they get you at home?

mowingtowing
12-18-2004, 12:20 AM
I had it bolted and cabled with 5/8" cable (master lock cable lock) to the tounge of my dump trailer and was parking it at my friends property where he keeps his trailers, 300' from his house. Guess some low life sob's thought they could either make a good profit by selling my stuff or thought that they could use it more then i could.

KINGjosh
12-18-2004, 12:23 AM
I hate that f-ing co. they offered me 17.9% financing on a 3 year loan!
F-THEM

out4now
12-18-2004, 12:23 AM
Check ebay over the next couple of weeks and any pawn shops. A guy here had all of his tree spurs stolen from his truck and found them at a pawn shop, his company name was engraved on everything they took.

Kelly's Landscaping
12-18-2004, 12:24 AM
I challenge the guy to steal mine I took a 20 hp giant vac skid and made it into a swing away from my box. The hinges are 4-inch diameter pipe. All together it weighs in at 700 pounds and takes a tractor to mount it each season. Not ever 5 of us can lift it off once its in place.

mowingtowing
12-18-2004, 12:28 AM
my 16hp vac weighed close to 500 lbs, it had to be planned. Ive been checking ebay and local papers. Maybe i should try posting a want ad for new - 2 yr old 16 hp leaf vacs at end of season in all local papers. Maybe that could work.
Ive made it so that my replacement vac that i had to buy is impossiable to get off (a combo of welding and kriptonite chain locks)

Envy Lawn Service
12-18-2004, 02:56 AM
Technicly i guess its my fault, it says at the bottom of the page "do not sign if there are any blank spaces" Ive tried many times to talk and reason with shefield to no avail. All they cared about was getting their money and not securing a good reference or future customer. They assumed that since it wasnt checked that I didnt want it, but I say I assume that since the cost of the protection plan was $0, that I automatically get it.

I say Shefield should have screened the paperwork, saw that the selection space was blank and called you for an answer before finalizing.

I say their fault.


Anyways, just curious 'who' is recommended for financing?

lawnman_scott
12-18-2004, 02:56 AM
I hate that f-ing co. they offered me 17.9% financing on a 3 year loan!
F-THEM
Perhaps its because you are a high credit risk?

kickin sum grass
12-18-2004, 08:05 AM
I am sure there is bad in every company.
Although, I have used them many many times with no problem. They have great no interest/payment terms. You get to use their money for a term while you make money. Then pay it off quickly witht he money you made. I had one issue with them that they resolved quickly. It was opposite from yours. My salesman checked the insurance after I signed the deal and left. It was gonna cost me money. I simply explained that I did not want it and wanted my policy adjusted as I already have insurance on my equipment. They quickly adjusted my policy with them and all was fine.

DLCS
12-18-2004, 08:14 AM
Before I even bring an new piece of equipment home, I make sure that I have insurance on it to cover theft. If you have a loan on it, I would definately make sure.

mowingtowing
12-18-2004, 08:52 AM
from now on im going to have insurance on all my equip and trailers. there are too many people out that that cant be trusted, even if its 1 person/company thats 1 to many when they hit you.

Littleriver1
12-18-2004, 08:56 AM
Shefield has helped a lot of us to start up. This isn't going to help you feel better but, thanks for telling your story. May be you helped some one else, not make the same mistake you did. Theft sucks and some times I feel like the insurance is theft, but in this case, it would have made a difference. Sorry to hear about your trouble, l hope you find your equipment and the people that took it.

Del9175
12-18-2004, 09:06 AM
That stinks. I can't stand someone who steals.

If I were you I might contact a lawyer. I had a problem with an insurance company denying a claim one time. For a hundred bucks the lawyer sent them a letter threating to sue. In the letter he said he would also sue them for his costs which were $250 an hour. He sent me a copy of the letter when he sent them one. Two days after I got it they called and said they would cover me. This may or may not work but if it can be done it's worth the amount you give the lawyer.

TURF DOCTOR
12-18-2004, 09:16 AM
MowingTowing Thanks for the news scag is trying to sell me a couple of wb with the same loan,i will be darn sure to check the box,i hate to hear about your loss.

Mo Green
12-18-2004, 10:04 AM
I think the point that we should all be getting here is to read everything that we sign. Although most of the time the paperwork is very lenghty and can be difficult to understand, it is our responsibility as the consumers to cover our own butts. This means reading all of the fine print and asking any questions in reference to something that you may not understand. It's very easy to be exited about a new piece of equipment, and want to get the hell out there and use it as fast as you can, but the bottom line is that we are responsible for the paperwork that we sign.

Richard Martin
12-18-2004, 10:07 AM
I am quite suprised that Shefield would even grant a loan without having insurance coverage on the collateral. I have financed 2 mowers through companies other than Shefield and both of those companies required insurance. In the contracts it stated that if I let my insurance lapse that they would impose an automatic coverage and charge me accordingly.

hortboy
12-18-2004, 10:22 AM
I'd like to voice my opinion on this matter. First you the buyer should be responcible enough to read any contract you sign before you sign it especially dealing w/ a nation wide lending firm. Second, I have dealt w/ Sheffield directly on many pruchases, I call them directly they tell me what deals are out there and I begin shopping. I have had 5 loans through them totalling over $50.000 and never a problem. For the rest of you who complain about the loan rates they offer you, and don't qualify for there better rates - it's not sheffield who put marks on your credit report - it was you and now you pay for your mistakes.

cnflawn
12-20-2004, 09:56 AM
bump
hi jack

TGIB
12-20-2004, 11:34 PM
The [$0] in the box doesn't mean it's a freebie ! It means since the customer didn't check the box on the original loan application, and consequently has indicated that he DOES NOT WANT THE INSURANCE, then there is zero charge for the insurance !

You are misreading your final contract , where all your obligations and payments are listed. Since you didn't take the insurance, it shows that your cost is ZERO DOLLARS
If you had taken the insurance - this box would have had the monthly dollar cost of the insurance typed in it.

grass-scapes
12-21-2004, 10:14 AM
my 16hp vac weighed close to 500 lbs, it had to be planned. Ive been checking ebay and local papers. Maybe i should try posting a want ad for new - 2 yr old 16 hp leaf vacs at end of season in all local papers. Maybe that could work.
Ive made it so that my replacement vac that i had to buy is impossiable to get off (a combo of welding and kriptonite chain locks)

Nothing is impossible. Get an alarm or a camera with a time lapse recorder

lawnguyland
12-21-2004, 10:34 AM
Wait a minute, can I please be your ideal financing company? I really want to lend people the money they need to buy something. Then, if that something gets stolen or destroyed they don't have to pay me back. I'll make millions.

Frontier-Lawn
12-21-2004, 12:00 PM
Ok you guys want a bad company Capital 1. when my wife and i were single we both had them. When we got married she told them to change the address and her last name. They did and 2 months later we got a letter and 2 new cards, they merged both ower accounts without asking us. would not fix it. after complaining 4 times about it they jumped our rate from 9.9% to 25.25%. after that we decided to do chapter 7 then they tried to get my mom to pay with here account with them. Needless to say they are one nasty SOB.

lawnguyland
12-21-2004, 03:20 PM
Ok you guys want a bad company Capital 1. when my wife and i were single we both had them. When we got married she told them to change the address and her last name. They did and 2 months later we got a letter and 2 new cards, they merged both ower accounts without asking us. would not fix it. after complaining 4 times about it they jumped our rate from 9.9% to 25.25%. after that we decided to do chapter 7 then they tried to get my mom to pay with here account with them. Needless to say they are one nasty SOB.
I'd be nasty too if you didn't pay me back.

out4now
12-21-2004, 03:40 PM
Ok you guys want a bad company Capital 1. when my wife and i were single we both had them. When we got married she told them to change the address and her last name. They did and 2 months later we got a letter and 2 new cards, they merged both ower accounts without asking us. would not fix it. after complaining 4 times about it they jumped our rate from 9.9% to 25.25%. after that we decided to do chapter 7 then they tried to get my mom to pay with here account with them. Needless to say they are one nasty SOB.
Watch Frontline's history of the credit card, very interesting http://www.pbs.org/wgbh/pages/frontline/shows/credit/view/

Frontier-Lawn
12-21-2004, 04:30 PM
I'd be nasty too if you didn't pay me back.

they were nasty before i got them back!!!!!!!!!!!!!!!!!

lawnguyland
12-21-2004, 05:49 PM
Well good for you then! (non-sarcastic)

richard coffman
12-21-2004, 06:24 PM
if it's a lenghty form i don't undersand, I'll take it too my lawyer and have them simplify what it means to me. i get it free with my pre paid legal membership. sorry to hear about the equipment loss, My equipme tis nder locka nd key and no one can get to it unless they know pass cods, storage # and lock codes. I pay good money for this, but it's worth it. now if i could only figure a security system for out inthe field, I'd be covered. If' there was a security system for the equipment i have, I'd buy it in a second.


Respectfully,

Richard/Owner ;) ;) ;)

ChadA
12-21-2004, 06:55 PM
I'm new in the biz and have worked hard to buy what equip I have. It makes me sick to my stomach at just the thought of someone stealing mine or someone else's equip.

JEFF ZALMANOFF
12-21-2004, 07:05 PM
i have used them many times , with no problems ,they are a good company for us , i will use them again , if my stuff was stolen i would be mad at the dirt bag that stole it ,not bad mouthing the company that gave you a loan .

packerbacker
12-21-2004, 07:13 PM
Seffield sucks. My credit score is over 700 and my credit is damn near perfect and they still wanted to give me 15% interest. I told them to stick it, went to my bank and got 5%

hortboy
12-21-2004, 09:24 PM
I'm going to add fuel to the fire on this one but here goes. As part of my general liability insurance policy I have all my equipment covered for replacement cost. I'm sure if you have insurance that option was given to you when you took the policy out. It costs less then 5% of my gross insurance bill and it gives me peice of mind when my equipment is not behind my truck. this would be a cut and dry issue if you had the insurance you should as a business owner and you'd only be out your deductable. In reality if all my equipment was stolen I'd close the doors on the business that morning if i had to pay out of pocket to replace all equipment

Cobra Jock
12-21-2004, 09:49 PM
Seffield sucks. My credit score is over 700 and my credit is damn near perfect and they still wanted to give me 15% interest. I told them to stick it, went to my bank and got 5%

If it isn't over 720, that's why they quoted 15%

packerbacker
12-21-2004, 10:01 PM
If it isn't over 720, that's why they quoted 15%





Then they are crooks. I can get a home loan at 4.5% but Sheffield wants to finance at 15%. Oh well.

Cobra Jock
12-21-2004, 10:07 PM
Then they are crooks. I can get a home loan at 4.5% but Sheffield wants to finance at 15%. Oh well.

I agree with you wholeheartedly. You wouldn't believe the number of people out there that uses Sheffield who have good credit and could get the loan much cheaper just by shopping around alittle.

Merry Christmas :)

packerbacker
12-21-2004, 10:17 PM
I agree with you wholeheartedly. You wouldn't believe the number of people out there that uses Sheffield who have good credit and could get the loan much cheaper just by shopping around alittle.

Merry Christmas :)






Same to you but bah-humbug on Sheffield

Kelly's Landscaping
12-22-2004, 01:10 PM
Ok you guys want a bad company Capital 1. when my wife and i were single we both had them. When we got married she told them to change the address and her last name. They did and 2 months later we got a letter and 2 new cards, they merged both ower accounts without asking us. would not fix it. after complaining 4 times about it they jumped our rate from 9.9% to 25.25%. after that we decided to do chapter 7 then they tried to get my mom to pay with here account with them. Needless to say they are one nasty SOB.


Thanks for the heads up between me personally and my company name I have and this is no BS gotten over 200 invitations from that bank in the last 12 months to get a card with them. I get as many as 6-8 mailings a week from just that one bank now how the hell that can be worth that cost I do not know. But the F.U. section of the applications is always fun to read with default rates in the 25-30% range. The truth is banks like that deserve to get burned since they are the ones forcing you in to bankruptcy. If you have 50,000 in debt with them and they up the rates to 25% you will with out even buying another thing just paying your minimums will be at 100,000 in just 3 years. Its a no win situation and they do their best to push people over the edge. What they should be doing is freezing the account the locking the rates till its paid off but no they like to play this game then cry when they lose the whole amount.

Frontier-Lawn
12-22-2004, 03:37 PM
also i had bad dealings with providian, & sears. and the cards that treated me good are first premier, citi bank, plains bank

tiedeman
12-22-2004, 03:52 PM
I used Sheffield for the first time this past year. I was pretty happy with them. Got the loan in March and just paid it off this December.

What I liked about them was the quick response to my application. In less than 12 hours I had a response