- Report: #102526
Report - Rebuttal - Arbitrate
Complaint Review: Norvergence
Norvergence550 Broad Street Newark, New Jersey U.S.A.
Norvergence Allied To Leasing Companies - ripoff, Now They Are Allied Against Us, file complaints in each of the State Banking Department where these companies operate. Banks & Leasing Companies partners in crime Newark New Jersey
*UPDATE EX-employee responds: Despite the challenges we still need results. Business owners put your blinders on and stay focus. Justice will prevail.
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1.- They picked only small businessess (legally weak).
2.- They "diversified" picked many different leasing companies including some very big ones with very powerfull checkbooks and attorneys.
3.- They picked different states where leasing cos. where located
1.- Banks and leasing companies are regulated on a State to State basis (please correct me if I'm wrong). There's no Federal regulatory agency of these organizations. This makes an action against them very difficult and expensive, since so many different actions would have to be brought up.
2.- All these companies already have talked among themselves, have a much more powerfull team of attorneys that what all 5,000 of us small customers could get and pay for.
3.- My lease is for 20,000; asuming that in general they all where for that amount, we're talking about 100 million dollars. They're not going to let this go out the window and will pay at least 10% of this to attorneys (10 million dollars combined).
4.- Between all 5,000 of us it would cost us 2,000 dollars each to reach this amount.
5.- I strongly believe that this was set-up between Norvergence and one or a few executives of every leasing company or bank. I don't think that companies like GE Capital would get into something like this intentionally. Some executive was bringing "new business" to the leasing company and taking money under the table to keep his/her mouth shut.
6.- I can bet the house that these "account executives or managers or whatever" have already been fired; since the companies don't want any involvement in this.
7.- If this is true, the companies failed to supervise them and are as liable as the employees themselves.
1.- We should file complaints in each of the State Banking Department where these companies operate.
2.- We should file complaints with the Attorney general, BBB and any other agency that would take it, in each of the states, against the leasing companies
2.- We should file a separate law suit against the individuals that approved of these transactions at the banks or leasing companies.
3.- If we don't know or they won't tell us who that individual is or was, an action should be brought up by a multitude of businessess or owners against the current manager of the department that approves of these transactions. We should target a mid-management employee regardless of his/her responsibility, as this would possibly make him/her "talk" the truth.
ANYONE WANTING TO BE THE HOST FOR THESE PROCEDURES PLEASE POST INFORMATION APPROPRIATELY.
We need someone to collect and make available the following information:
All addresses of the State Banking Depts, BBB and other agencies for each state where the fraud occurred.
I'm willing to pay you or anyone else a reasonable amount of money to put this info on a web site, also to generate letters that will be mailed to the agencies, so that everybody uses a standard format and to manage this whole process.
Remember this will take several months, and the leasing companies might be allied against us. My lease is for 20,000. Assuming that amount in average for all 5,000 customers, we're talking about 100 million dollars and they're not going to let this slip easily. They already have a team of attorney's who are probably getting paid very nicely. They are willing to spend up to 10% (10 millions) in the campaign to recover the 100 (their campaign includes lawyers, advertising, lobing at state agencies, or whatever)
If they really paid that money to Norvergence (which i don't think they did) they're going to fight back for it no matter what.
Anybody connected with politicians that want to help for a good cause? This is an election year.
This report was posted on Ripoff Report on 08/07/2004 12:13 AM and is a permanent record located here: http://www.ripoffreport.com/r/Norvergence/Newark-New-Jersey-07102/Norvergence-Allied-To-Leasing-Companies-ripoff-Now-They-Are-Allied-Against-Us-file-com-102526. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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