As a bankruptcy lawyer I get many interesting calls – some sad, some amusing, others thought provoking. One from a few years ago was just that; planting a seed in my head.
A soon to be client in publishing said:
“I keep getting calls from my lease company demanding I make payments on my high capacity copiers”.
I inquired: How much do you owe them?
Client: “Just over $600,000”.
How many machines? I asked.
Client: “Six large high capacity copiers”.
When was the last time you made a payment? I asked
Client: “I haven’t paid them anything in almost a year!”
A year I said calmly, are you still using them!?
Client: “Sure- every day, they’re critical to my business… but as to paying them, you have to understand I’ve had to prioritize other bills, cash flow is a balancing act.”
Of-course I said in my most understanding tone- Have they tried to repossess them?
Client: “Nope, they just make calls and send letters. My guess is the cost to move them might be too high.”
Huh I recall murmuring while wondering to myself how different this situation would be if the lease company could control the use of the leased equipment like a utility company or internet providers does.
I’ve seen this scenario time and time again as I work with troubled companies juggling cash to stay alive, prioritizing payables to address those who have the ability to shut off their service or control their collateral.
Now Years later, an innovation has finally arrived that provides leasing companies with absolute control of any electrical equipment, anywhere, any time with the click of their mouse.
As a practicing bankruptcy attorney, I can say without a doubt, it’s had tremendous impact on many of my troubled client’s account payable priority list.
It may be worth your while to have a look.
https://Get.BlokBoxNow.com
