The Gangsters at 132 West 31st Street, 14th floor, New York, NY 10001 have done an excellent job of disguising Northern Leasing System as a legitimate organization that specializes in financing microticket business equipment. The TRUTH is that they are Ring-Leaders, Organizers and Financiers of the biggest Criminal Scam network in the country.
The TRICK is that they loudly proclaim that they are only a financing company and depend entirely on outside vendors for all of their business, and that they can't be held responsible for any illegal or questionable behavior of the vendors; but, make no mistake about it they "OWN" and control their vendors, a huge network of them. Show them a good scam and they'll set you up in business, train your sales staff, organize, advertise, train your employees in every respect, especially in properly filling out the paper work, including their equipment lease! They own you in every respect but NAME!
AH The Lease! Now that's a Real work of art! 18 inches long, printed both sides, solid [no paragraph breaks] in 5 point narrow, about 5/8 the size of this on paper with a dark pink background, and jammed full of legalese that locks you into their tangled web Forty ways from Sunday! Just an "industry standard" equipment lease. . . . Riiight! Did I mention that the lease is Non-Cancelable? I know what you're thinking; the lease is unconscionable.
Yes, at the first sign of trouble, Northern Leasing System, Inc. says, you should have read the lease (in addition to "don't blame us, we only financed it") ....and.... Most people buy that!
Yes, the Lease is unconscionable and illegal in many ways, but, that's not what's important! The terms of the lease are totally irrelevant!
What, you ask then, is relevant? This is what's relevant!
1. They have your signature on the lease. They don't even know or understand what's in the lease themselves, but they're going to interpret it to mean anything they want it to mean, when they want it to mean it! They regularly violate the terms of their own unconscionable lease!
2. They have access to your bank account (that was a requirement so that they would have a means to pay you the credit card receipts from your business). Riiight!
The lease was just a TOOL, like a burglar's pry-bar, to gain access to your bank account. Now they are free to make regular and frequent visits to your account and withdraw whatever they please in the guise of various and sundry bogus charges and fees!
How do they think they can get away with that? The answer is simple. . . Percentages!
Most people have already bought into the idea that it's their fault for signing the lease. The rest are either;
1. Intimidated by the (mostly illegal) tactics used by the collections dept. of Northern Leasing System. Threats, Intimidation, Extortion, etcOR;
2. Without the funds to hire an attorney to defend themselves. ..OR;
3. Without the funds to travel to the court in New York (the forum clause), AND to hire an attorney. Heck, Most of them don't even know they are being sued until it's a done deal and they've lost the case by default!
Icing on the cake;
Hidden obscurely within the bowels of their unconscionable lease is a requirement that the lessee give written notice to Northern Leasing System, Inc. of the lessees intention to terminate within 60 days of the end of the lease. If the lessee doesn't catch this and send in his notice, the lease automatically renews for a like term, or, in some cases, converts to a month to month. This allows Northern Leasing System to continue to relentlessly pursue the lessee even after the terms of the lease have been fulfilled (until the lessee catches on). NOTE: You'd better use certified mail or they'll claim they never received it.
Bottom Line: This operation is so profitable that they can afford to lose an occasional case and still keep an army of cheap, unscrupulous lawyers on retainer to keep their legal wheelhouse going. Let look at the figure, an average of $3,000 judgment or settlement per lessee, they are over thousands of lessees across the country have been victimized. $3000 x 1000 victims=$3,000,000. This figure represents the innocent small business people's sweat and blood. Many hard working, honest people are being taken to the cleaners this very minute because they trust in the honesty of others. They especially have faith in our financial infrastructure.
WHAT CAN YOU DO ABOUT IT: If you are a Victim!!!!!!
1. Complain to the Attorney General's Office. Dozens of complaints have been sent to the Attorney General's office. Unfortunately this represents only a small fraction of the number of people involved.
2. Complain to the Federal Trade Commission. You can send your complaint to: Federal Trade Commission CRC-240
Washington, D.C. 20580 Or call 1-877-FTC-HELP or complain online at https://www.ftc.gov/ftc/complaint.htm
If you had a bad experience, tell people about it. Get involved. Post to the message boards and post to the newsgroups. Don't let these people get away with it. (For the Message Board Go to http://www.ripoffreport.com/default.asp