Jurisdiction

I LEASED A PIECE OF EQUIPMENT, FROM TEXAS, DISCOVERED THE INTREST RATE WAS 27 PERSENT, MY COMPANY IS A CORPORATION AND THAY LEASED IT TO SUCH. I TOLD THEM BACK IN JULY TO COME GET THE EQUIPMENT, THAY WONT COME AND GET IT, GOT A FAX CHRISTMAS EVE FROM THEM THAY REPORTED IT STOLEN, CAN THAY DO THAT AND THAY WANT TO ATTACH A LEAN TO MY HOUSE, CAN THAY DO THAT, I HAVE HAD NOTHING BUT PROBLEMS FROM THEM, I LIVE IN MICHIGAN, MY ATTOURNEY SENT THEM A LETTER TELLING THEM TO COME AND GET THIS STUFF BUT THAY WONT, HE IS OUT OF TOWN FOR THREE WEEKS, SHOULD I BE WORRIED ABOUT GETTING ARRESTED, CAN NOT GET AHOLD OF MY ATTOURNEY PLEASE HELP. THANKS RANDY

I TOLD THEM BACK IN JULY TO COME GET THE EQUIPMENT, THAY WONT COME AND GET IT, GOT A FAX CHRISTMAS EVE FROM THEM THAY REPORTED IT STOLEN, CAN THAY DO THAT

Yes, I'm quite sure they can do that. If you actually have lease papers and you didn't rent the equipment then they would be filing false reports with the police and the cops usually are not too happy with those who do that. Rental contracts can be an entirely different ballgame so you need to make sure of the difference.

AND THAY WANT TO ATTACH A LEAN TO MY HOUSE, CAN THAY DO THAT,

If they go to court and get a judgment they can.

I HAVE HAD NOTHING BUT PROBLEMS FROM THEM, I LIVE IN MICHIGAN, MY ATTORNEY SENT THEM A LETTER TELLING THEM TO COME AND GET THIS STUFF BUT THeY WONT, HE IS OUT OF TOWN FOR THREE WEEKS, SHOULD I BE WORRIED ABOUT GETTING ARRESTED

Hard to say. It might be just a bluff and it might not be. If it don't happen reasonably quickly then they could be guilty of violations of FDCPA.

CAN NOT GET AHOLD OF MY ATTOURNEY PLEASE HELP.

Then I would recommend that you consult another attorney until you can get in touch with yours. In your case you need solid advice you can hopefully rely on and you need it rather quickly to satisfy your own emotional needs if nothing else. I think you will feel a lot better about the whole thing after you have spoken with an attorney and so that's what I would advise your doing.

yes it is a lease, and i have all the paperwork, and i have the fax where thay said that thay reported it stolen by me, i went to the sherrif right after i made the post, and thay told me not to worry, that its a civil matter, and if thay got a report that i had stole the equipment thay could be charged just like you said, i cannot figure out why thay wont come get it, is there a law that stops them from comming to michigan to repo it, there in texas and iam in michigan, i have reported this to the michigan attourney general, about the 27 persent intrest rate, or is it because i am incorprated, thanks randy

First of all, you must understand that I've got about 40 years experience as an anti-attorney. (LOL). That most definitely means I'm not one. Since you seem at least in part to be looking for answers that only an attorney can give you good solid believeable advice on I'm only going to be able to give you ideas, not advice and it's an attorney you should be listening to. And although I'm an anti-attorney I've got a lot of friends who are outstanding attorneys and a couple of them are nationally famous. So no, being an "anti" don't mean I hate them by any means.

But let's get to your problems. I just wanted you to know I probably can't give you any more than just "common sense" answers which probably aren't going to be good enough for your problems.

yes it is a lease, and i have all the paperwork, and i have the fax where thay said that they reported it stolen by me, i went to the sherrif right after i made the post, and thay told me not to worry, that its a civil matter, and if thay got a report that i had stole the equipment thay could be charged just like you said, i cannot figure out why thay wont come get it, is there a law that stops them from comming to michigan to repo it,

I have no idea about Michigan law except that I do know that Michigan does have some "funny" laws when it comes to consumer protection stuff and maybe in other areas too.
And no, they aren't really funny. They are pretty strict, more so than many other states. But how that might affect your particular case or their coming to get the equipment I haven't a clue. What's more likely is that the distance they would have to travel to get used equipment might make it too costly to be practical for them. I'd tend to think that's the real reason they don't want to come and get it. You have not said what kind of equipment or how much of it you are talking about. That would also make a huge difference too. As a silly example, if you leased a box of pots and pans it wouldn't cost that much to travel from Texas to Michigan to get it back but if you are talking about having leased a battleship or two then the costs would be enormous and they might not want to come get them.

about the 27 persent intrest rate,

27% interest rate is about par for the course for credit card and other interest rates, so I don't know if your complaint will do any good or not. You should have known about that when you signed the lease and that would have been a better time to balk over it rather than way down the line

or is it because i am incorprated

I haven't a clue about that.

bbauer has done it again :-)!

Originally posted by bbauer
If it don't happen reasonably quickly then they could be guilty of violations of FDCPA.

Have you read the FDCPA? It applies to consumer debt. Commercial debt is exempt. This debt is for a commercial, business purpose and as such the collection of it isn't regulated by the FDCPA.

Now randy1,

What does your lease contract say about taking the equipment out of the State of Texas. If there is no restriction on you moving the equipment, they are out of bounds reporting it stolen. If you are contacted by the police simply provide them a copy of your lease agreement and they will instruct the leasing company to file a lawsuit against you.

Did the lease you sign include a personal guarantee? If it did not, you may not be personally liable (so long as they cannot pierce your corporate viel) for this debt, only your company is liable.

They are not required to repossess the equipment, and even if they do that, you will still be responsible to pay the balance of your lease after the fair sale price, is deducted and legal costs are added. So having them come pick up the equipment is no a solution - you will still end up paying on this at whatever interest rate you agreed to.


[email]JASON@LEGISLATOR.COM[/email]

"What are you people thinking???"

hi, the equipment is in michigan where i live, there in texas, we made the contract in mich, it says on the lease that this is a business transaction, and commerical lease, we did not have a personal guarentee, thay have put this on my personal credit report, i understand that i will still owe this even if thay come and get it, but now there saying is is a personal lease, now thay want to try and attach to my home,i get faxs that say i will be put in jail,there going to take my bank accounts, and that thay have someone watching me,thats why i went to the police, but to do all of this dont thay need a cort order first, and how does that work being i am in mich,their in tex, thanks so much randy

HO HUM! More of Jason's crapola. He thinks everybody is too stupid to read like him. He'd rather jump froggy than he had to read and understand anything. Oh Well, we know moronic miracles will never cease. Of course commercial debts are entirely different than private ones and of course FDCPA does not apply to commercial debts.

You said they were trying to take it personal against the owner of a corporation. They can do that sometimes, but they have to be very careful how they do that. Depends upon whether or not you put your personal credit on the line when you signed for the merchandise. If you did, then they can take it against your personal credit. If you didn't then they can't.

Too bad we have to prepare every post like it was some kind of Supreme Court case just to keep some boob with a private agenda from finding some kind of way to jump our cases.

I suppose all you can do is to consider the source of the attacks, i.e. who started it and just ignore their childish antics.

Originally posted by randy1
hi, the equipment is in michigan where i live, there in texas, we made the contract in mich, it says on the lease that this is a business transaction, and commerical lease, we did not have a personal guarentee, thay have put this on my personal credit report, i understand that i will still owe this even if thay come and get it, but now there saying is is a personal lease, now thay want to try and attach to my home,i get faxs that say i will be put in jail,there going to take my bank accounts, and that thay have someone watching me,thats why i went to the police, but to do all of this dont thay need a cort order first, and how does that work being i am in mich,their in tex, thanks so much randy

Read the contract carefully. If there is no personal guarantee they had no right to place this on your personal credit. They have violated the Fair Credit Reporting Act and you need to retain an attorney immediately. What is it, a personal lease or a corpoarte lease? Every time they call you need to take out the contract and have them substantiate their claims. You need to see an attorney immediately to protect yourself if you did not personally guarantee this loan. The corporation may also have a duty to indemnify you against this type of action.


[email]JASON@LEGISLATOR.COM[/email]

Originally posted by bbauer
HO HUM! More of Jason's crapola. He thinks everybody is too stupid to read like him. He'd rather jump froggy than he had to read and understand anything. Oh Well, we know moronic miracles will never cease. Of course commercial debts are entirely different than private ones and of course FDCPA does not apply to commercial debts.

Well this is a commercial debt, so why were you advising him toward an FDCPA defense? Crapola? I suppose any real information would be crapola to you, right?

You said they were trying to take it personal against the owner of a corporation. They can do that sometimes, but they have to be very careful how they do that. Depends upon whether or not you put your personal credit on the line when you signed for the merchandise. If you did, then they can take it against your personal credit. If you didn't then they can't.

They have to be very careful? How so? When you are presenting an argument, please try to humor us with specifics. I believe, if you read my post, I inquired about a personal guarantee (do you know what that means?) why didn't you do the same? There is no FDCPA protection for commercial debtors period.

Too bad we have to prepare every post like it was some kind of Supreme Court case just to keep some boob with a private agenda from finding some kind of way to jump our cases.

Private agenda? You're the one who is on here trying to promote his business. I've seen posts where you send people to your business for advice. Are you so unsuccessful you can't afford to pay for your own advertising? I have no agenda, I am only helping people, I do not advertise here, offer services here, or ask for money here. You do all three.

I suppose all you can do is to consider the source of the attacks, i.e. who started it and just ignore their childish antics. [/b]

Take a look in the mirror. You really are good for a laugh, I have to give you that.


[email]JASON@LEGISLATOR.COM[/email]

"What are you people thinking???"

hi, i would love to get a laywer bu we havent worked in two months, no money, no there is no personal guareentee and it says commerical lease randy

Originally posted by randy1
hi, i would love to get a laywer bu we havent worked in two months, no money, no there is no personal guareentee and it says commerical lease randy

Because you are suffering significant damages and the leasing company is a good litigation target you may find an attorney willing to take this matter on contingency. They will not help you with the underlying debt, but they will sue to get you compensated for the personal damages you have suffered as a result.

Good luck.


[email]JASON@LEGISLATOR.COM[/email]

do you know one that will do that, or can i do that myself

thay sent me a fax christmas day at 9;30 am, telling me that thay were giong to take the house, and a phone call stating the same thing, when my wife heard this it was all out war, this has caused me so many problems, thay called my credit union, thave called my brother 5 times, thay tried to get money from him, i give up trying to talk to them, randy

thay sent me a fax christmas day at 9;30 am, telling me that thay were giong to take the house, and a phone call stating the same thing, when my wife heard this it was all out war, this has caused me so many problems, thay called my credit union, thave called my brother 5 times, thay tried to get money from him, i give up trying to talk to them, randy

Randy, sorry to say , but you should be able to see that the local rat pack isn't going to give you any good answers and they aren't going to let anybody else give you any either. You will have to look for another board to find the answers to your problems. Sorry about that, but this bunch around here are only interested in trashing up the place so nobody gets any answers. And it isn't just you, they know that lots of people just lurk hoping to find answers to their problems too but never post. So by trashing up the forum nobody gets any help and that's all they care about.

Just move on and let the rat pack have it.

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