misfire1123
Junior Member
What is the name of your state (only U.S. law)? OK
Whats going on? Ill keep this short and simple.
Opened up a business in 2016 where we needed a piece of equipment to operate. The total cost of the equipment was $60,000. I put $25,000 toward the equipment and somehow got on board to TWO leasing companies for the remaining of the balance. There tactics were sly and clever. Was told multiple times that it was the same as a traditional loan. So agreed to everything and got the funding. Fast forward to about 8 months later and I was in a position that I could pay the remaining balance off to the companies. Which was about $12,000 to each company totaling around $24,000. Upon calling them to receive a pay-off amount I was hit with a whopping $30,000 from each company! I told them this had to be a mistake and to look more into it. The next day I received a call from each company saying the $30,000 was the pay-off. I tried to explain to them that I could buy a second piece of equipment for that price and that I didn't even borrow that much from them in the first place! So, I told them that was not happening and they are more then welcome to come and retrieve the equipment.
So, 2 years later no one has been out to get the equipment and I stopped paying them in 2016. I received ungodly amount of phone calls, emails, and texts saying that they want their money or their will be legal action taken. Told them multiple times that I had no problem paying off the balance on which I owed, but they never bent one bit. The last 8 months all the call, emails and texts have seized. I have not heard one bit from them at all. I still have the equipment and they know where it is located at.
Have a few close friends that have dealt with things like this and told me it was a possibility that the company had wrote the equipment lease off as a loss on their taxes. Obviously, I have no real idea what has happened.
We no longer need the equipment and storing it is becoming a problem. Any insight on where to go from here?
Thank you.
Whats going on? Ill keep this short and simple.
Opened up a business in 2016 where we needed a piece of equipment to operate. The total cost of the equipment was $60,000. I put $25,000 toward the equipment and somehow got on board to TWO leasing companies for the remaining of the balance. There tactics were sly and clever. Was told multiple times that it was the same as a traditional loan. So agreed to everything and got the funding. Fast forward to about 8 months later and I was in a position that I could pay the remaining balance off to the companies. Which was about $12,000 to each company totaling around $24,000. Upon calling them to receive a pay-off amount I was hit with a whopping $30,000 from each company! I told them this had to be a mistake and to look more into it. The next day I received a call from each company saying the $30,000 was the pay-off. I tried to explain to them that I could buy a second piece of equipment for that price and that I didn't even borrow that much from them in the first place! So, I told them that was not happening and they are more then welcome to come and retrieve the equipment.
So, 2 years later no one has been out to get the equipment and I stopped paying them in 2016. I received ungodly amount of phone calls, emails, and texts saying that they want their money or their will be legal action taken. Told them multiple times that I had no problem paying off the balance on which I owed, but they never bent one bit. The last 8 months all the call, emails and texts have seized. I have not heard one bit from them at all. I still have the equipment and they know where it is located at.
Have a few close friends that have dealt with things like this and told me it was a possibility that the company had wrote the equipment lease off as a loss on their taxes. Obviously, I have no real idea what has happened.
We no longer need the equipment and storing it is becoming a problem. Any insight on where to go from here?
Thank you.
