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Equipment Leases After a Default
March 11th, 2010 by admin
If your cash flow is getting tight and you have a number of equipment leases to keep paying on, make sure you are aware of what will happen if you get into a default situation.
The key thing to remember is that you do not own the equipment, the lease company does. If you don’t make your payment and can’t come up with what you owe in the next 30 days, there is a good chance the lease company will be showing up on your door step to reclaim their equipment and sell it off to get their money back.