Genesis Commercial Capital Genesis Commercial Leasing immoral leasing practices Irvine, California

Our manufacturing company (WA State) has a big issue with the end of term of the Equipment Lease with Genesis Commercial Capital/Genesis Capital Leasing. Please contact to us ASAP if you have or had the same situation with them. Please email us: protectbusiness2018@gmail.com

"Please be advised Genesis Commercial and I have subsequently resolved any and all outstanding issues to the mutual acceptance of everyone involved.  My accusations of Genesis Commercial Capital and my statements regarding its principals and their prior employment were incorrect.  I hereby retract my prior statements concerning Genesis Commercial Capital and/or its principals.  I would also like to request that my original posting/complaint be completely removed in its entirety.”

My Texas Attorney was not able to negotiate any settlement with these people.   Please contact me if you have any similar issues with this company.  We are building our case for a counter suit and file a consumer complaint with the Attorney General of California.  I own and euipment rental company in Georgetown Texas, and I am MIGHTY easy to locate.

They continued to "invoice us" for years.  What they were doing was building up the recievables before the california statute of limitations expired (4 years).

Now, they have filed suit in Orange County California.

We have again found that this is what this company does.  There are countless other groups / business owners that have fallen prey to this leasing scam.  They present lease terms over the phone, but legally structure thier docuements to entrap the leasee.

A cursory search of revealed several significant details about the company:

 At least two of the principals , Eric Sidebotham and Greg Rieke, were previously involved with Balboa Capital, a company which had eventually been sued by the California Attorney General’s  Office- Kamala Harris, for the similar issue, where they were “leasing” equipment to churches and then extorting extraneous leasing charges. leasingnews.org/archives/Mar2011/3_02.htm

Later, those two same principals, created / formed Genesis Capital.

There are a multitude of small business owners that have experienced the exact same issue with the company.

At one time the BBB of California had an “F” rating for the company, based on multiple consumer accounts.  This rating has been ‘massaged’ out, not surprisingly.

There are still many accounts from business owners and individuals that explicitly state the same circumstances: a misrepresented lease, followed by an incredibly aggressive collections structured posture.

The Clerk of Courts for Orange County list Genesis Capital as the plantiff for hundreds of civil cases citing breach of contract.

I just wanted to update this posting. To everyone that has contacted me, thank you for your support and advice.

Since my initial posting, I have had some additional conversations with the some of the staff members of Genesis. Having made their position keenly apparent, they have indicated that an amicable solution would be in everyones best interest. I agree.

Every situation can be perceived from different vantage points. I hope that we can get this issue settled via a 'path of least resistance'.

I'll keep the group informed.

Daniel @ Georgetown Tx.