Who is Northern Leasing Systems?
Northern Leasing Systems, Inc. is a New York corporation that finances credit card point of sale (POS) terminals and other business equipment.
Who Does Northern Leasing Systems Sell To?
Typically, Northern Leasing Systems sells its lease through sales agents who approach small businessmen who are from other countries and are therefore unfamiliar with American contract law and unable to read the fine (actually, microscopic) print.
How Does Northern Leasing Systems Operate?
Typically, a small businessman is sold an overpriced POS terminal payable in small monthly installments through a financing lease. The salesmen will verbally tell the victim that he can cancel at any time, but he is then rushed into signing documents without being given a chance to read them or even keep a copy. Sometimes, other pages are added to the contract ? pages that the businessman never even saw! The contract locks him into a long-term lease that cannot be terminated early and provides for a guarantee enabling Northern Leasing Systems to sue him personally, instead of just his company.
In some cases, the businessman has never even heard of Northern Leasing Systems or signed any documents ? his signature had been forged!
If the unfortunate businessman stops paying Northern Leasing Systems, then he is personally sued in New York City for the full amount due under the disputed lease as well as attorneys fees, costs, and interest. Given the high cost of traveling to New York City or hiring a local New York attorney to represent him, the businessman defaults and Northern Leasing Systems wins automatically. In other cases, the businessman settles the case by sending several thousand dollars to Northern Leasing Systems just to get Northern Leasing Systems debt collectors to stop calling him (sometimes over 10 times a day) or make the lawsuit go away. By that time, his credit rating may have been damaged.
What Should You Do If You Have Been Sued by Northern Leasing Systems?
Don't be intimidated. You shouldn't have to pay for a contract that (a) you never signed; (b) were never given the opportunity to read; or (c) has been altered by the addition of pages you never saw.
But you must deal with the situation. If you ignore the lawsuit, a default judgment will be taken against you and your assets may be frozen and seized.
New York, New York