Who are Northern leasing systems and what do they do?

Who is Northern Leasing Systems? Northern Leasing Systems is an equipment finance company that specializes in the origination and servicing of micro-ticket leases. Since the company’s founding in 1991, Northern Leasing has originated over 500,000 equipment leases. Northern Leasing is based in New York City.

Is it possible to cancel a Northern leasing lease?

Because your lease is a fixed-length, non-cancelable equipment finance agreement, you cannot cancel your lease. However, if you would like to terminate the lease, you may be able to buy out the lease and the equipment, buy out the lease with the return of the equipment, or transfer the lease to an acceptable third party.

What do you need to know about signing a lease?

When it comes to signing a lease agreement between landlord and tenant, what is the standard process? The rental lease agreement is a formal contract between a tenant and a property owner, or a representative of the owner, like a property manager, outlining the terms and conditions for living at a rental property in exchange for rent.

What can a landlord do if there is no signed lease?

This is because, without a lease, he will have no proof the tenant violated the terms of tenancy. Rent is an exception because he will have a record of rent collection to verify the rent amount and due date. Unless the tenant has a term lease whose term has not expired, a landlord can change or add rental requirements with a 30-day notice.

Who is Northern Leasing Systems? Northern Leasing Systems is an equipment finance company that specializes in the origination and servicing of micro-ticket leases. Since the company’s founding in 1991, Northern Leasing has originated over 500,000 equipment leases. Northern Leasing is based in New York City.

Can you cancel a lease with Northern leasing?

Wow. One of the reasons merchants who want to cancel their lease with Northern Leasing (also MBF Leasing) are unable to do so is that the lease contract specifies the court venue must be in Manhattan, New York City. This makes it quite difficult for the little guy to fight the case, since he or she must deal with the expensive travel.

Can you bring a lawsuit against Northern leasing?

Northern Leasing/MBF Leasing is free to bring new lawsuits against these defendants on their own turf. But now at least the business owners are able to make it to court to fight. You can read it yourself. Northern Leasing responded by, not surprisingly, citing chapter and verse from their extremely well-worded lease that has no escape.

Why are MBF leasing / Northern leasing beginning to lose cases?

Recently, the New York City courts (which it has been reported have one or two courtrooms completely filled with cases generated by Northern Leasing/MBF Leasing suing its customers for failing to pay the leases) have begun dismissing lawsuits against small merchants because of the venue clause.