Leasing Expenses Co., NLS Equipment Finance Settlement

Consumers who had a lease with Leasing Expenses Co. LLC or NLS Equipment Finance LLC and made payments may be eligible to claim a restitution payment from a class action settlement.

Leasing Expenses Co. and NLS Equipment Finance agreed to resolve a class action lawsuit alleging it collected payments on unlawful credit card processing equipment, check-reading machine and sign leases, engaged in fraudulent and deceptive practices and targeted small business owners and employees across the United States. The court ordered the companies to return all money collected on the illegal leases as restitution.

Who can file a claim?

Individuals or businesses may qualify to receive a restitution payment if they meet the following criteria:

• They entered into an equipment finance lease with Leasing Expenses Co. LLC or NLS Equipment Finance LLC.
• They made payments either as a business or as an individual to Leasing Expenses Co. or NLS Equipment Finance to pay a lease.

Additional information

• Eligibility is not limited by location; affected parties may be located anywhere in the United States.
• Guarantors who made payments on such leases are also potentially eligible.
• The New York state attorney general filed a separate but related lawsuit against Northern Leasing, which is affiliated with Leasing Expenses Co. and NLS Equipment Finance. Those who submitted a claim in the Northern Leasing lawsuit must file a new claim for this settlement.

How much can class members get?

The amount each class member will receive depends on the total amount of payments they made to Leasing Expenses Co. or NLS Equipment Finance on an illegal lease. The court ordered the companies to return all money collected on these unlawful leases as restitution based on available records.

All eligible claimants may retain any leased equipment as part of their restitution award.

How to claim a class action payment

Class members must complete the online claim form or contact the settlement administrator at 866-302-9947 or info@LEC-restitution.com to request a paper claim form to mail to the settlement administrator. The claim deadline is June 2, 2026.

Settlement administrator's mailing address: Leasing Expenses Co. Restitution, c/o A.B. Data Ltd., P.O. Box 173037, Milwaukee, WI 53217

The settlement website and court documents do not specify the form in which class members will receive payment.

Required proof and documentation

Claimants should provide documentation showing they entered into a lease with Leasing Expenses Co. or NLS Equipment Finance and/or made payments on such a lease. Supporting documents may include:

• Lease agreement copies
• Bank statements or payment records
• Correspondence with Leasing Expenses Co. or NLS Equipment Finance

The settlement administrator may use available records to verify claims, but class members should submit documentation to help ensure timely processing.

To submit an online claim, class members must provide the unique ID and PIN located in the upper right corner of their notice email.

Settlement fund information

The settlement fund will cover restitution payments to eligible claimants, as well as administrative costs and other court-approved expenses. The court ordered that all funds collected from Leasing Expenses Co. and NLS-EF be used for restitution with the attorney general authorized to use a portion of the funds to hire an outside administrator to distribute payments.

Important dates

• Deadline to file a claim: June 2, 2026

When is the Leasing Expenses Co. restitution payout date?

The settlement administrator will distribute payments after the claims deadline passes and it reviews and approves claims.

Why is there a class action settlement?

The class action lawsuit alleged Leasing Expenses Co. and NLS Equipment Finance LLC continued to collect payments on equipment finance leases a court order rescinded in a previous case against Northern Leasing Systems Inc. The attorney general claimed the companies engaged in fraudulent and deceptive practices, targeted small business owners and employees and collected money on unlawful leases.

The court ordered Leasing Expenses Co. and NLS-EF to stop these practices and return all money collected on the illegal leases as restitution.

Sources

1. Class notice
2. Order and judgement
3. Settlement FAQ