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New Jersey Suburbs of Philadelphia Burlington County, Camden County, Gloucester County, Salem County in South Jersey
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Old 01-09-2015, 07:12 AM
 
2 posts, read 1,320 times
Reputation: 10

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Hi Everyone,

I had a lease contract for an equipment with a company in New Jersey. 90 days before the end of the lease, I wrote a letter to the leaser expressing my intent to terminate the lease and, at the same time, requested an Authorization Form that would enable me to return the equipment. The Leaser never followed up on my request. Now, six months later, the leaser comes after and is asking me to pay the monthly payments for those six months. The leaser argues that, since I still have the equipment, the lease was automatically renewed.

Please help with your ideas.

Thank you!
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Old 01-09-2015, 07:30 AM
 
14,780 posts, read 43,697,549 times
Reputation: 14622
Quote:
Originally Posted by Millionnaire View Post
Hi Everyone,

I had a lease contract for an equipment with a company in New Jersey. 90 days before the end of the lease, I wrote a letter to the leaser expressing my intent to terminate the lease and, at the same time, requested an Authorization Form that would enable me to return the equipment. The Leaser never followed up on my request. Now, six months later, the leaser comes after and is asking me to pay the monthly payments for those six months. The leaser argues that, since I still have the equipment, the lease was automatically renewed.

Please help with your ideas.

Thank you!
You're probably screwed. Any answers to this question are contained in the lease itself. Most leases are set for a fixed period of time and after that time period they either renew on a monthly basis or another fixed term. Month-to-month is the most common method on equipment leases. As long as you are in possession of the leased equipment, the contract is considered "active" and you owe the money. Return the equipment ASAP and make arrangements to pay what you owe.
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Old 01-09-2015, 08:04 AM
 
2 posts, read 1,320 times
Reputation: 10
Thank you very much. How about the letter I sent to request the authorization form to return the equipment, can't it help?
The leaser never followed up on it and the leaser's team did not want to receive the equipment without this form.
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