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Shhh! Don't tell Chuck....

Posted By Shane Davis, Friday, June 27, 2014
Delta Force Update-- Remember the Alamo! Ever wonder what the battle at the Alamo would have been like if modern day action hero Chuck Norris was there? Well, Delta Management Group, Inc., the new Delta Force, is blowing into town September 18th-20th to win the war on commercial debt.
Unfortunately, Chuck Norris will not be there (that is in no way a challenge to your ability to be anywhere you wish at any time Mr. Norris, and I am very sorry if any of this is offensive to you sir......whew!).
We will be unveiling our "4 Mistakes Collection Agencies Make That Lenders Are Probably Unaware Of..." at the NEFA's Annual Funding Symposium in San Antonio, TX. See you at the Alamo! (When I'm not at the Delta Management Group, Inc. exhibit table, Ill be in the basement hiding from Chuck...shhh!)

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True Leases from Early 2000's Still Worth Big Money

Posted By Gerry Egan on behalf of a visito, Wednesday, February 12, 2014
Updated: Wednesday, February 19, 2014

Your True Leases from the early 2000's still worth big money!

Do you remember back in the early 2000’s when "True Leases” were more common in the marketplace? Did you know that all the units you bought for these true leases between 1999 and 2006 might be better than an annuity? Activity in Federal Court has brought about a wide variety of antitrust actions, all related to computer hardware, which may provide you with income for years to come.

 

Most significant of these is a settlement whose deadline has since passed regarding TFT-LCD panels. In this $1.08 Billion settlement, purchasers of certain items containing LCDs would be entitled to compensation per unit. These are items like LCD Computer Monitors, LCD Televisions, Laptops, Notebooks, and medical monitors.

 

When notice originally went out in the case, Lessors of Computer related products might have been unsure if their purchases qualified. Interestingly enough, products using True Leases did qualify. It was lease-to-own arrangements that did not qualify. But remember the timeframe 1999-2006. While many NEFA members utilize Lease-to-own arrangements today, prior to the economic crash "True Leases” were everywhere.

 

If you bought these LCD items in anyone of 24 qualifying States or the District of Columbia, you may be owed a significant recovery from a relatively small number of purchases. Qualifying purchases can include any brand name including Dell, HP, Compaq, Apple and more.

 

Now you’re wondering, what’s the catch? The reality is that the deadline for this settlement passed more than a year ago, on December 5th, 2012. What can you do? There is hope. A firm called Class Action Refund LLC based in Westchester County NY, has reached out to NEFA to let us know that it would include claims from any members that missed the deadline with a group of others they are attempting to get accepted. While they offer no guarantee that late claims will be accepted, they are capitalizing on an appeal in the settlement which is causing delays in the distribution of funds.

 

What is the plan of action? To see if your purchases qualify, Class Action Refund has a site where you can register with their group electronically. If you register, one of their Associates will get as much data as they can from you and attempt to get your claim filed before it’s too late. Remember there are no guarantees, but just two hours worth of effort could mean a windfall. Even if you don’t have purchase records going back to 1999, they can help.

 

To learn more, visit TFT-LCD Indirect Purchaser Settlement or call (914) 630-5170

*********

Sincerely,

 

Lee Carilli

Global Claims Manager

Class Action Refund, LLC
500 Mamaroneck Ave. Suite 503
Harrison, NY 10528

Tel: (914) 630-5170

Fax: (914) 630-5001
E-Mail: lcarilli@classactionrefund.com

Web: www.ClassActionRefund.com


Tags:  claims  computers  lcd's  money  true leases 

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Flipping Title for the Lienholder

Posted By Jay Winston, Friday, January 24, 2014
If your vehicle has been seized by a government agency and they will not release the vehicle to you unless the title is listed in your company name, do not apply for a "repo title". Lienholders cannot apply for a "repo title" in situations where the lienholder does not actually possess the vehicle.
 
The term "repo title” is a shorthand term for a "repossession title” issued by the DMV. In order to obtain a "repo” title the lienholder must have actual possession of the vehicle. It is deemed an improper action for a lienholder to apply for a "repo title" where the lienholder does not have possession because the vehicle is in police impound and in the police department's possession.
 
If the title needs to be flipped to show the lienholder as the owner, an administrative transfer of title should be performed through the DMV. An attorney must perform this action because application for an administrative transfer of title constitutes as the practice of law. The lienholder normally provides its attorney a limited power of attorney to transfer title.
 
Lienholders must never estimate mileage when applying for any type of title. Where the actual mileage cannot be obtained by physical inspection (such as where the car is held in police possession) the mileage must be  reported as "0000″ or "not actual mileage” and corrected once the vehicle is recovered and the odometer is read.
 
            Practice Tip: Lien Holder should provide its attorneys with:
           
            (1) Recent documentary proof which confirms that they are still the lien holder; and
            (2) The consensual agreement creating the lien.
 
 
by Jessica Sprague and Jay Winston

 
 
Winston & Winston, P.C. is a Madison Avenue firm that practices in New York, New Jersey and Connecticut. The firm manages cases nationally and can help you handle isolated cases through the Winston Attorney Management Network (WAMN) [over 70 firms]. The firm regularly handles bankruptcy matters and matters involving the recovery of your collateral. We can help you obtain a pre-judgment order for possession, obtain a TRO or appoint a receiver if necessary. Our firm drafts transactional documents for our clients as well including agreements, releases, loan documents and other frequently required documents. Jay is co-author of the industry leading guide: The Complete Guide to Credit & Collection Law (1996-2013) [2000pages]. Jessica Sprague is an associate with the firm and regularly handles replevin and bankruptcy matters.

Tags:  collections  legal  lien  reposession 

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Disclosing Interest Rate

Posted By Bary Marks, Sunday, December 29, 2013

Disclosing Interest Rate

Barry Marks on 23 Dec 2013 at 1:05 PM
0 Comments

While doing research for our next Marks & Associates newsletter, we ran across several states that appear to require the discolsure of interest rates in loan-type transactions. In some cases, the laws appear to be consumer-oriented BUT are not clearly limited. In others, only a specific type of collateral (motor vehicles) requires disclosure.

It is possible, albeit unlikely, that these laws might  include not only EFA's but buck-out leases. Some major funders require interest rate disclosures for EFA's, but no one, to my knowledge, requires disclosure of the implicit rate used in leases of any kind. Even where the rate is not clearly required by law, our thinking is that at the very least, the amount funded (not just the purchase price of the equipment without addition of soft costs paid out of pocket) should be stated, enabling the customer to calculate the rate.

I have a bad feeling that we are going to see judges use the "hiding" of the rate as a deceptive trade practice or unconscionable practice to  trick  unsuspecting small businessmen into signing high-rate loan documents.

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Making a Splash on the Web

Posted By Gerry Egan, Wednesday, December 18, 2013
Updated: Friday, January 24, 2014

How Small Businesses Can Make a Big Splash Without Getting Wet

(NewsUSA) - It's usually better to be a big fish in a small pond than a small fish in a big pond, or so the saying goes. Many of today's small and medium-sized companies are trying to figure out how to make a big splash when launching or renovating their presence on the web.

 

How crowded is the web? Well, according to Royal Pingdom, a global Internet tracking and statistics company, there are over 234 million unique websites. Many of these sites are expensive to create and costly to maintain while only being mediocre and containing no consistent theme or message.

 

According to web design experts, there are several critical components of leveraging a website as a successful business tool. These tips will help ensure that your website attracts the right visitors, encourages them to browse and entices customers to buy:

 

1. Aesthetic Design. Your website represents you -- it's your ambassador on the World Wide Web. Therefore, it needs to be clean and professional and generate the right vibe and reaction to your visitors.

 2. Message and Branding. The purpose of a website is to broadcast your company's brand and messages to a wide audience of consumers, businesses, employees and other stakeholders.

3. Search Engine Optimization (SEO). SEO is the process that seeks to ensure that your website ranks high in search engines for its relevant key phrases. This process improves the volume and the quality of hits (traffic) to your website from the search engines. The higher a website ranks in the results of a search, the greater the chance that it will be visited by users, which helps companies to build brand awareness and grow revenue.

4. Interactive Capabilities and E-commerce. Whether you want people to purchase goods and services directly through the website via e-commerce, or have someone from your company contact them, make sure the website is intuitive. Encouraging visitors to participate in some form helps develop a stronger bond with your company.

 

Finding the right firm that can combine web design with branding, marketing, business consulting and a tight budget can be a tall order. One such firm that has generated tremendous success with this combination is Northeast Web Design (www.northeastwebdesign.com). It has developed a client-friendly process and platform that treats every minnow-sized customer as if it were a whale. "We provide a full suite of services, ranging from aesthetic design and branding to website construction and E-commerce integration to Search Engine Optimization," stated the company's Project Manager David Landon. Regardless of whether the company is small or large, Northeast Web Design works closely to achieve that company's goals.

It's nice to know that in today's challenging economic environment, with the help of web designers such as Northeast Web Design, companies can become big fish in a big pond without spending a lot.

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Mobile Devices Need Security

Posted By Gerry Egan, Saturday, November 16, 2013
Updated: Friday, January 24, 2014
(NewsUSA) – With the wealth of Internet activity and connected communications offered by smartphones and tablets, our laptops and desktop computers are practically becoming passé.This means your "cell phone" isn’t just a phone anymore, your tablet isn’t just for reading the latest romance novels, and it’s giving software and security experts reason to worry.

 

The more you rely on smartphones and tablets for daily Internet activities, the more you should consider equipping those devices with security software. After all, if smartphones are more computer than phone, shouldn’t they be equipped with the same software protection as computers?

 

"We have found that users simply don’t think about viruses and malware posing a threat to their phones and tablets," says Ann Biddlecom, product marketing director for Kaspersky Lab, an authority on antivirus protection and information security. "Not only are these mobile devices unprotected from viruses, they’re also much more likely to be lost or stolen, and security software helps you track them down."

 

"Are Internet connections any more secure on an iPhone or Android? Absolutely not. Nowadays, almost everyone has at least two different digital devices that they use to connect to the Internet, but we’ve found that at least one is unprotected," Biddlecom adds. "Since infected files on your PC or Mac can be transferred to your phone and tablet, or vice versa, it makes the most sense to get antivirus protection for all platforms, operating systems and devices."

 

A recent Nielsen survey reported that more than one-third of the U.S. population — approximately 117 million people — regularly surf the Internet from a mobile device. With so many people getting online using two or more Internet-connected devices, now is the time to make mobile device security a "must have" for your digital life.

 

To protect all of your digital devices effectively, remember these three rules.

 

1. Smartphones and tablets are really handheld computers — all the same security precautions apply, like checking the authenticity of websites, links and emails.

 

2. You’re much more likely to misplace these mobile computing devices — just like a set of car keys, the smaller they are, the easier they are to lose — and you don’t want access to your email left sitting in the lost-and-found bin.

 

3. Install a multi-device security software from a reputable provider. Products like Kaspersky ONE Universal Security are a veritable one-stop-shop for personal security, complete with the ability to protect any combination of digital devices.

 

Get more security advice at www.kaspersky.com.

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Marketing to Banks

Posted By Bary Marks, Thursday, November 7, 2013
Updated: Friday, January 24, 2014

In case you missed it, the October 10 issue of American Banker included an article entitled , "Banks Find New Life on Lease." The article addresses the increasing popularity of leasing and equipment finance among banks, both reporting on the phenomenon and explaining why leasing is popular in today's financial environment.

 

The article itself is a useful marketing tool. It is also a good source of arguments in favor of leasing and at the same time, an example of some of the confusion suffered by many bankers trying to get into the business. As one who both represents and negotiates with community banks, I offer a couple of observations:

 

First, be sure you know what the bank is looking for. Too many lessors and originators try to sell bankers on buying paper when the banker is actually interest in servicing its own clients. Those bankers want to be able to rely on a servicing or referral program. Many banks are primarily interested in meeting potential new depositors. It would be a waste of time offering these banks paper from lessees outside their footprint.

While most of the banks look for yield, the high yields generated by some leasing programs actually scare them off. Of course, credit criteria and collateral or industry restrictions can come into play.

 

I've seen a lot of bankers start off on a program to create an in-house leasing department, without realizing how risky and  expensive it can be. Offering an alternative, possibly with training of bank personnel, can be fruitful.

 

Finally, in case you haven't been to this movie: the bank must understand that the "credit" is the customer and not the lessor or originator. Banks like discounting deals structured as nonrecourse loans rather than purchases of rent streams. If the banker hasn't cleared with his accounting people that the "loan" is really a purchase of a lease or rent stream, the bookkeeping may show you as the borrower, resulting in a very short time before the bank announces that it has all of "your" paper it can buy due to customer limits.

 

Barry Marks

Marks & Weinberg, P.C.

P.O. Box 11386
Birmingham  AL  35202
Phone: 205-251-8301
Email: bmarks@marksweinberg.com

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Memorize Unique and Secure Passwords

Posted By Barry Reitman, Monday, November 4, 2013
Updated: Friday, January 24, 2014
A few days ago I was talking with my friend, Barry Reitman, about the hassle of trying to remember all the passwords I have to remember for all the different things I regularly log into. I’ll bet most of you can relate to that.
 
Barry, whom many of you know as a long time member and two-term board member of the old EAEL, is the author of "Secrets, Tips and Tricks of a Powerful Memory.” He steered me to an article he’d written on his Memory Shock website that lays out a simple system for creating and remembering unique and secure passwords. Since it’s such a common need, I asked for his permission to include it here.
 
The Secret to Creating and Remembering Secure Passwords
 
Using different passwords for each important website and account is mandatory. If someone hacks one credit card account, for example, you DON'T want them having access to everything else.
 
Here's an easy variation of a more complex system I offer in my book and CD set. It's safe and impossible to forget.
  1. Use the name of any past pet or old friend (with whom you don't correspond anymore).
  2. Turn the name backward.
  3. Then, go to the first two letters of the name of the site in question.
  4. Capitalize the second of them.
  5. Make them the second and fourth characters of the password.
 So, if my old pet was named Corky, and the first website is American Express, the password would be "corky" (all lower case) backward (ykroc) with "a" and "M" (first and second letters of American Express) inserted in the 2nd and 4th spot: "yakMroc."
Here are a few more:
 
PayPal = ypkAroc
Ebay = yekBroc
Facebook = yfkAroc

Even if someone steals one of your passwords, no one can possibly guess the rest of them, but it's simple for you to remember.
 
Want to take this up a notch? Add a number representing the first vowel in the name of the site at the spot after the capital letter in each password. Simply put, a=1, e=2, i=3, o=4, u=5. So, your American Express password would now be "yakM1roc."  Your Ebay password would now be "yekB2roc."
 
Think you'll need a reminder until you get used to this? Tape a piece of paper with "Sample =  yskA1roc” to your computer monitor. No one but you will know what it means.
 
For more helpful memory tips, visit Barry’s website www.MemoryShock.com and sign up for his free monthly newsletter. Each issue brings you a couple of easy tricks to help get through the day.
 
Enjoy,
 
Gerry E.

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Paws for Love

Posted By Kim King, Wednesday, October 30, 2013
Updated: Friday, January 24, 2014
PAWS For Love
 
The human-animal bond goes beyond companionship. It’s about the strong positive interaction that exists between humans and animals. That special bond that actually enhances human quality of life. Animals have a remarkable ability to sooth, to cheer, and to improve people’s health and sense of well-being. The urge to live and know them is virtually universal among people.
 
The 13th Annual Walk for the Animals and Pet Expo is to raise money for Shelter Animals and Humane Education in schools. All proceeds go to help rescue, feed, shelter, provide medical care for, and adopt out animals in need!
 
As a strong supporter of animal adoption and someone who has adopted a shelter animal myself, I encourage you to do the same. A little goes a very long way! On behalf of my beloved Piper, myself and all the other homeless animals, please support our cause by making a small donation in support of "Team FurrBabies”. Please click here to be directed to Piper’s fundraising page: http://www.ansamswalkfortheanimals.org/Walkers/86
 
"The greatness of a nation and its moral progress can be judged by the way its animals are treated.”
  Mahatma Gandhi
 
 

Kim King

 

NEFA Senior Association Coordinator
Direct Phone: 847-380-5053
Email: KKing@NEFAssociation.org

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Business Phone Manners

Posted By Bob Teichman, Thursday, October 24, 2013
Updated: Friday, January 24, 2014
Aggravation
 
by
 
Bob Teichman, CLP
Teichman Financial Training
botei@aol.com
 
 
Every few days my voice mail holds a mysterious message. It goes something like this:
 
            Bob, this is (mumble, mumble) of (mumble). We really want to work with you.
            We have great skhheuld and shseisise. Please call me at 800-scik-34nnms.
 
I replay the message several times and increase the volume almost to the point of pain. But still can’t understand; 1) the name, 2) the company, 3) what the message is all about and, most important of all, 4) the telephone number.
 
And then, of course, I hit "delete”.
 
It isn’t my machine or my hearing. It’s the tendency of callers to rush through their message in what seems to be their wish to get off this machine and get on to (maybe) a live listener. Or maybe they think the machine’s inbox will fill up before they finish.
 
The caller doesn’t have to be a Shakespearean actor to speak slowly and clearly, and to enunciate each syllable and word. These callers are trying to get a message across and to potentially make a sale. And it won’t happen if the listener can’t call back because the message is unintelligible.
 
If callers want people to return their calls, they should just follow a few simple rules:
 
1.      Identify the caller at the beginning AND at the end of the call.
2.      Say the telephone number slowly and clearly, and repeat it.
 
If callers do this, they will get a quick call back. If they don’t, their junk message will go where all junk mail goes.
 
Down the drain.

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