Make Connections

Network, Get Answers, Find Members in Your Area, and More!

Forums » Business planning

if anybody has heard of this and what should I do first?

    • 1 posts
    June 16, 2014 3:39 AM EDT
    I got this equipment just this year from Axis Capital Group, http://www.axiscapitalinc.com/, it is about half a year old, so I have a question about it. Now that Jakarta’s economy is in the process of laying off, my plan is to get a loan to pay off the lease and then sale the equipment, then what I get from the sale I was going to put back on the loan. Well I am here now to ask if anybody has heard of this and what should I do first?
    • 1 posts
    June 17, 2014 2:46 AM EDT
    What do you expect strangers to say -- we haven't seen your lease or at least mention what it is. I suppose that the "how" involves front-loaded loan interest and that you weren't paying careful attention to what you were signing.
    • 1 posts
    June 18, 2014 12:18 AM EDT
    Did you even bother to keep copies of all the related paperwork? So far, you haven't posed a question of a legal nature, and its best not to ask folks what you should do when they haven't got any more info than what you've provided so far.
    • 1 posts
    June 19, 2014 4:58 AM EDT
    It's also possible that the cost of the lease is not the same as the payoff for buying the equipment.
    • 1 posts
    June 19, 2014 11:35 PM EDT
    The terms and conditions of your lease should explain all that. You are going to have to read it thoroughly and carefully to figure it out. If you want to reproduce the whole thing word for word here, you might get some help interpreting it.
    • 1 posts
    June 22, 2014 11:35 PM EDT
    What it says about how late payments are applied to the account. Be careful.