Lease One Corporation Reviews
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LeeE61
July 30, 2010
Fraud
Anyone who has been ripped off by Lease One Corp. of Lynnhurst, MA should take note there is a Class Action lawsuit being put together in order to go after Lease One and those companies on the .net who have and continue to advertise this "opportunity". We need you to get involved and you can assist in the areas of telling specifically whatLease One did, the payment method to Lease One and the names of anyone else who you know was involved in this. I am passing all of this information over to the Law Firm and more the merrier!!
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Danielle
April 8, 2010
Guilty of stealing from customers
In 2005 I signed up and paid $19, 900 for the Lease One Broker Program. As a Lease One Broker I experienced everything negative that I am reading on the internet. If you are thinking of signing up for the program ask yourself this question, why would folks who paid $19, 900 go to such great lengths to discredit the program they paid to become a part of, would not that hurt their chances of ever recovering their investment? If you are still doubtful and believe crooked Joe Angelo's sales pitch about being a family run business and that Lease One adheres to high ethical standards and methods of operation please take a look at this blurb from a 2005 law suit where Lease One was found guilty of STEALING their customers deposit and later ordered to pay it back with penalties:
2005 Mass. App. Div. 149 (2005) U.S. Environmental Rental Corporation v. Lease One Corporation Massachusetts Appellate Division, Northern District. November 21, 2005.
Defendant Lease One Corporation ("Lease One") was defaulted for failing to answer, an assessment hearing was held, and a default judgment for actual and G.L.c. 93A punitive damages was entered against Lease One for its refusal to return an unearned deposit.
Would you really want to do business with a guy like Joe Angelo? Read the court case, it goes on to say: The motion judge may well have concluded that Lease One merely elected to treat this action with the same apparent nonchalance and indifference it had shown to the plaintiff's earlier requests for repayment of the $15, 000.00 deposit monies and the plaintiff's G.L.c. 93A demand letter. Further, Lease One advanced no substantial defense to the plaintiff's claim for a return of the $15, 000.00, which was due upon Lease One's failure to arrange more than $500, 000.00 in lease financing.
I'm reading complaints about Joe Angelo lying to brokers, stealing from brokers and his nonchalance and indifference attitude to their pleas for help; it sounds like a US Court of Law already found Joe Angelo guilty of all these charges. Lease One is not a legitimate business, it's a scam to steal your $19, 900 like Joe did to U.S. Environment Rental Corporation. You should be ashamed of yourself Joe and the websites that tout your business as being legitimate should be held liable for their lies as well. This court case should prove that Lease One Corporation is a scam.
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Bater
March 31, 2010
Scammed me for $19,900
false promise of promising to provide me with the lending sources and backroom support to become a successful lease brokership. I signed up throug a franchise website and attended the training. The back room support was horrible and the stole my leads and sold them to other leasing companies. The owener, Joe Angelo is a lying con artist. I'm trying to warn others to stay away from this scam. I'm reading complaints against Lease One on other websites and see a class action law suite is in progress. Stay away from this scam and if you are a victim please join the law suite.
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Will Houston
February 18, 2010
Cheated out of $19,900
Lease One scammed me also. I signed up in 2008 and was never to get a deal approved and experience the same bad service I'm reading about. The owner Joe Angelo promised that my $19, 900 got me access to unlimited funding sources and the ability to get any deal approved, all lies. After a few weeks they never even called me back on the deals I submitted, This is definitely a take the money and run scam operation. i se someone is starting a law suite, I'm in.
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Gordon Teva
August 26, 2009
Bogus Broker Program
Lease One is a BOGUS lease broker program that charges $20, 000 with the deceptive promise of provide expert training and backroom support; they do neither. I signed up and paid the $20, 000 and was never able to get a deal closed through them. The training is terrible, the back room support is horrible and they took my leads and gave them to other leasing companies! Here’s an example of horrible training, back room support and handing off leads to other leasing companies. During training we were ask to pick an industry and Lease One would provide leads from UCC filings on potential customers in our area. I picked restaurants and they gave me a list of restaurants in my area. I approached some of the leads and submitted a customer lease proposals with all the required information. The back room dope at Lease One came back to me and said that they can’t do leases for restaurants because they are too risky. I asked the dope why he didn’t tell me that when he asked me to pick an industry I was interested in during training but dopey had no answer. I then submitted a $150, 000 application for a new Panera Bread store that was opening in my area. The back room dope came back and said that they couldn’t do it because it was a start-up business. I explained to the dope that Panera is an established business and the stock is one of the top rated stocks in Investors Business Daily but again dopey insisted that it was a start up business and he couldn’t do it. Three weeks later the owner of Panera was approached by Robert Searcy of First Financial Corp. who is a friend of Joe Angelo to directly write the lease through First Financial Corp. The Panera contact who is a friend of mine called to say that he was approached by Robert Searcy of First Financial who offered to write the $150, 000 lease through First Financial. I called Joe Angelo, the owner of Lease One and told him what happened and he said it was impossible. I asked Joe to call the Panera contact directly but he refused. After submitting many more deals that were either rejected or approved with interests rates in the 15% - 20% range for A & B rated customers with $3, 000 fees tacked on I became discouraged and exited the program. I contacted another broker who paid the $20, 000 and attended the training with me and he had similar stories of horrible support and leads being passed off to other brokers. He told me about the NAELB and that he was able to make numerous funding contacts that provided back room support and training for free and were able to get his deals approved!! I contacted the NAELB and joined for $295 and sure enough I am getting support and deals approved. Stay away from the Lease ONE SCAM!!! I see other COMPLAINTS against Lease One on the following websites:
http://www.bizzia.com/franchisepick/tag/lease-one/, FRANCHISEPICK
http://www.unhappyfranchisee.com/lease-one-scam-to-sign-up-brokers/ UNHAPPY FRANCHISEE
http://www.ripoffreport.com/Lease-One-Corporation-Lease-One-Systems/Brokerage-Companies/Lease-One-Corporation-Lease-O-ZAC93.htm, RIP-OFF
Visit the NAELB website http://www.naelb.org/index.cfm, and deal with real leasing companies who provide great support and don’t steal your leads.
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John R
August 24, 2009
Scam to sign up Brokers for $20,000
Lease One is a scam to sign up brokers, collect $20, 000 and find the next round of suckers. I see complaints against LeaseOne on other websites as well http://www.unhappyfranchisee.com/lease-one-scam-to-sign-up-brokers/. I was a victim of this scam and am trying to warn other to stay away. The owner is a low life scamming folks for $20, 000 with a false promise to make them a lease broker. I was never able to get a deal approved due to Lease One's lack of funding sources and incompent back room support. Stay away from this scam.
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Joe
July 22, 2009
Scam
Joe Angelo use to brag that the internet gave him the ability to reach thousands of people across America. I found LeaseOne through an internet franchise advertisement and regret the day I did. I also regret the day I signed up and paid my $19, 900 to a company owned by a fast talking, snake oil salesmen, con artist. Hopefully this same internet will put an end to this horrible scam. I can assure you that you can get everything LeaseOne promises to do for free and with be 100% better support by joining the NAELB. Go to the website http://www.naelb.org/index.cfm, give them a call. If you decide to join the NAELB its only $295 p/year and gives you access to dozens of funding sources. All LeaseOne does is try to put your leases through these same leasing / funding companies. I paid the $19, 900 to LeaseOne and the training and support is amature at best. As a LeaseOne broker / sucker I spent hours with customers, gathering all required info and the result was I had a handful of deals approved that were approved at less than 1/2 of the dollar amount I was asking for with outrageous interest rates and fees. When I complained to Joe Angelo he stated, I got you an approval, I did my job". When I said "Joe, I came in for a $200, 000 lease and your back room guru "Slick" Rick Lopez only got me an approval for $75, 000 at 18% interest and he tacked on a $3, 500 you said "I got you an approval, there's nothing else I can do", then you hung up on me. You're a lying con artist Joe, the scam is over. I couldn't get anything done through your bogus LeaseOne Company and now I'm getting deals written that you declined through the great folks I found through the NAELB. The NAELB folks are getting me better interest rates minimal if any fees and providing awesome support. Your back room support of "Slick" Rick Lopez and sonny boy Joe Angelo Jr. couldn't hold a candle to the professionals I'm now dealing with. Maybe Rickey and laddie buck should spend some time with the NAELB to see how real leasing companies operate. The scam is over Joe. Too many brokers who got robbed my you are speaking out.
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Mike Vesti
July 22, 2009
Swindlers
Stay away from these swindlers. I was downsized and relocated my family to Florida for a more affordable lifestyle. I was looking to start my own business and I found LeaseOne interesting because it offered the cheapest possible start up cost at $19, 900. After spending time on the phone with the owner, Joe Angelo and what turned out to be a list of other LeaseOne brokers who are paid a commission by Joe for every new broker who they help sign up I took a portion of my severance package and made the $19, 900 investment. I attended the 3 day training session in Boston and on the last day we visited the LeaseOne Corporate headquarters. At HQ Joe told us that the way to make money is to find folks who can’t get money anywhere else and “bang them over the head with 10 points of commissions”. He also promised that he had many funding sources and could get just about any deal approved. I came back to Florida excited to start but it didn’t take long before reality set in. I submitted many deals and all were rejected by LeaseOne: “we don’t fund restaurants; “we don’t fund C rated customers; we can only fund up to $75, 000; owner’s partner has bad credit, haven’t been in business more that 5 years, etc.” I finally did submit some A rated customers but the approval rates were way too high and they had huge commissions up to 5 points added. The back room support team seemed to take pride in why my deals were being turned down. I spoke to the owner, Joe Angelo and told him that the only reason I signed up is because he promised the ability to get all sorts of deals approved with good and not so good credit. It was obvious that Joe lied so he then asked me if I was interested is helping him sell the LeaseOne broker program and that he would pay me a commission for every broker I signed up. That’s when I realized that LeaseOne is a scam to sign up brokers. They signed me up with the false hope of them providing support and the ability to fund all kinds of leases. It sounds great, you sell and they’ll get deals approved and provide the back room support. They did neither of the two. Deals couldn’t get approved and the support was horrible. On numerous occasions I couldn’t get a hold of anyone and left urgent messages that went unanswered. Maybe $20, 000 isn’t a lot of money to Joe Angelo but it was a lot for me and my family. I pleaded with Joe to return a portion of my money because he couldn’t deliver what he promised but he said that he couldn’t because he already paid a commission to the Franchise website salesperson I came in through and the LeaseOne Broker I spoke to. The nice guy who courted me to join became a callous and cold and accused me of not working hard enough. I spent hours trying to make this program work and did exactly what I was suppose to do but LeaseOne was never able to deliver. Please don’t make the mistake I did by buying into the scam. I read other folks suggestions to join the NAELB and have contacted them. It seem like they will indeed do for free what LeaseOne promised to do for $20, 000. Please stay away from this scam and if you want to become a Lease Broker I strongly suggest you visit the NAELB website at http://www.naelb.org/index.cfm. Whatever you do don’t pay $20, 000 to the LeaseOne scam.
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November 11, 2008
Unauthorized billing
After being downsized by a large company, I was in search of an affordable home based, 1 man business opportunity. I came across Lease One Corporation in several of the 'Franchise Opportunity' websites. Although the $20, 000 investment was substantial, it was relatively little in comparison to the type of investments required by most of the options I found (generally $50k or greater).
They have their sales pitch down: 8 out of 10 businesses will lease some portion of their equipment, it's a $270 billion a year industry and so on. When I inquired about competition, I was told 'there isn't any, ' and this was repeated to me by the 'Random' Associate Brokers I was referred to, of course by the company. I'm now convinced that the brokers I was given to contact are being paid by the company to paint a rosey picture.
What they don't tell you is that there are literally 1, 000s of independent brokers, just like you out there - bombarding your potential clients with weekly phone calls. And, because you're a broker, the rates are not competitive against the 'big boys', most large banks have a equipment leasing department. Also, that there underwriting department is inadequate, literally killing almost every potential deal with either lack of timeliness, incorrect paperwork or outrageous rates.
Lease One is not making money by processing leases. They are making a fortune off the deams of those who are willing to invest all they have in their dream of business ownership. Of the 6 Associate Brokers I trained with nearly a year ago, only one has actually closed a lease deal and made back some of his investment. And he has decided it's way to difficult to deal with the company and is moving on to other endeavors. The remaining 5, have not been able to move 1 lease loan through the system to completion. And we are all business professionals who have been successful in the past.
I finally decided that it was my responsibility to warn others of this scam. It is truly a scam. Lease One is easily bringing in $200, 000 per month by selling Associate Brokerships to suckers like me. Don't let yourself be the next victim.
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