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Posted By Shane Davis,
Friday, June 27, 2014
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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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Posted By Gerry Egan on behalf of a visito,
Wednesday, February 12, 2014
Updated: Wednesday, February 19, 2014
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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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Posted By Jay Winston,
Friday, January 24, 2014
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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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Posted By Bary Marks,
Sunday, December 29, 2013
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Disclosing Interest Rate
Barry Marks
on 23 Dec 2013 at 1:05 PM
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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Posted By Gerry Egan,
Wednesday, December 18, 2013
Updated: Friday, January 24, 2014
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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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Posted By Gerry Egan,
Saturday, November 16, 2013
Updated: Friday, January 24, 2014
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( 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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Posted By Bary Marks,
Thursday, November 7, 2013
Updated: Friday, January 24, 2014
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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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Posted By Barry Reitman,
Monday, November 4, 2013
Updated: Friday, January 24, 2014
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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.
- Use the name of any past pet or old friend (with whom you don't correspond anymore).
- Turn the name backward.
- Then, go to the first two letters of the name of the site in question.
- Capitalize the second of them.
- 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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Posted By Kim King,
Wednesday, October 30, 2013
Updated: Friday, January 24, 2014
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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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Posted By Bob Teichman,
Thursday, October 24, 2013
Updated: Friday, January 24, 2014
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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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