Weekly Bulletin Board Complaint Report

There are three active complaints, but before giving a working synopsis,

Leasing News has received complaints, primarily from funders, where

“brokers” are “bullying” that they are going to Leasing News with a

complaint.

First, all sides of an issues are investigated. There is no “automatic”

posting. The point of these “Weekly Bulletin Board Complaint”

reports is to show the overwhelming majority do not make it

to readers.

Many are settled between the parties, others are not verified,

and some are “disputes” where the issues are not clear. They belong

to either a civil court or a leasing association standards and ethics

committee revue.

Unfortunately, many of the parties do not belong to leasing associations.

Our goal is to act as an ombudsman and resolve the “disagreement.”

Often “advance rentals” and “deposits” are returned. Many times

there are communication “assumptions.”

#1 Major Recreational Vehicle dealer finds us through the internet

with a complaint about a “broker” representing himself as a “funder,”

and not returning a deposit to a customer.

In investigating this, the “broker” is a member of a leasing association,

has completed several leases with the dealer, has two pending, and

the one in question has been turned down several times, which he

states the RV dealer was aware. There also is more to the story.

In reviewing the documents, the “broker” has four to six weeks from

the denial to return the “advance rental.” It is less than a week, and the

broker says he is returning all but $178 for “out-of-pocket” expense

and “costs” as per the agreement with the lessee.

It appears the RV dealer really wants the “deal” put together, and doesn’t

understand the various “turn downs,” requesting us to refer them to

someone “ who can do the deal.” Actually, seeking a source for their

“C” and “D” paper as they have two major sources for the “better deals.”

We suggested they contact us if the “advance rental” is not returned

to their customer, and to utilize the National Association of Equipment

Leasing Broker web site to find a broker who would undertake these

assignments.

#2 Super Broker in Florida

“ They refused to give back the commitment fee on all three deals I had with

them and all of them have sought attorneys to get their money back and the

owner ******* is refusing contact. He approved these deals 2 months

ago and always found reasons not to doc the deals. For the last 30 days, he

has been avoiding the lessees and me.”

We asked for specifics so we could contact the “super broker,” who we

have received complaints about before. To date, the party who started

this has not supplied the information. This is not uncommon, and we

will follow-up when we have the information to learn the “other side.”

#3 Waiting for money to be return by “Super Broker,” who admits

delay in returning money due to economy, but will send money back

soon.