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Lease One Corporation / Swindlers

United States, miami Review updated:
73% 15
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Lease One Corporation
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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A  24th of Aug, 2009 by 
Agree Disagree +2 Votes
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.
A  26th of Aug, 2009 by 
Agree Disagree +1 Votes
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 internet on the following website:
http://www.bizzia.com/franchisepick/tag/lease-one/, FRANCHISEPICK
http://www.unhappyfranchisee.com/lease-one-scam-to-sign-up-brokers/ UNHAPPY FRANCHISEE
/URL removed/, RIP-OFF
https://www.complaintsboard.com/complaints/lease-one-corporation-c122225.html, Complaints Board
http://www.complaints.com/2009/july/17/Lease_One_Corporation_-_Con_Artists_who_charge__2_209797.htm, Complaints.com

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.
A  25th of Sep, 2009 by 
Agree Disagree 0 Votes
Do you have any idea why all of the disgruntled Associates have not filed a class action law suit?

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