Leasing Expenses Co. & NLS Equipment Finance Settlement Claim Before June 2, 2026, Are You Owed Restitution?

The New York Attorney General secured over $4,600,000 in restitution from Leasing Expenses Company LLC and NLS Equipment Finance LLC after courts found both companies defrauded small businesses with illegal equipment leases. If your business — or you personally — made payments to either company on a credit card processing equipment, check-reading machine, or sign lease, you may be entitled to claim back every dollar you paid. The claim deadline is June 2, 2026.

Quick Facts

Field	Detail
Total Restitution Secured	Over $4,600,000
Claim Deadline	June 2, 2026
Who Qualifies	Businesses and individuals who made payments to Leasing Expenses Co. LLC or NLS Equipment Finance LLC on an equipment finance lease
Payout Per Claimant	100% of total payments made on the illegal lease, based on available records
Proof Required	Yes — lease agreements, payment records, and correspondence recommended
Settlement Status	Court-ordered restitution — judgment entered September 25, 2024
Administrator	A.B. Data Ltd.
Official Website	LEC-Restitution.com

Current Status & What Happens Next

• This is not a proposed settlement — it is a court-ordered restitution following judgments entered by the New York County Supreme Court. The court already ordered both companies to repay all money collected on illegal leases.
• The claim deadline to submit your restitution claim form is June 2, 2026.
• The settlement administrator, A.B. Data Ltd., will use available company records to verify claims and calculate each claimant’s restitution amount based on total payments made.

What Is the Leasing Expenses Co. Lawsuit About?

For years, Northern Leasing Systems, Inc. targeted small businesses across the United States — flower shops, hair salons, restaurants, auto repair shops, and more — and trapped them in overpriced, non-cancellable leases for credit card processing equipment. In June 2020, New York Attorney General Letitia James won a landmark lawsuit against Northern Leasing, securing a court finding of “persistent fraud” and ordering the company to cancel its contracts, stop collecting on leases, and cease operations entirely.

Northern Leasing’s owners and officers then created two new companies — Leasing Expenses Company LLC and NLS Equipment Finance LLC — and used them to continue the exact same fraudulent scheme under different names. In November 2020, the Attorney General filed a second lawsuit against these spinoff entities under New York Executive Law §63(12), a powerful state anti-fraud law. In February 2021, the court permanently barred both companies from enforcing equipment leases and engaging in fraudulent practices.

On September 25, 2024, the New York County Supreme Court entered a judgment ordering both companies to pay $2,671,562.21 as restitution to harmed small businesses. Combined with $2,014,979.95 already collected from earlier proceedings, the Attorney General has now secured over $4.6 million in total restitution for victims. The case is captioned People v. Leasing Expenses Co. LLC, and the restitution claims process is now open for affected businesses and individuals nationwide.

Related article: Charleston Area Medical Center $1M Data Breach Settlement, Are You Eligible for Up to $6,080 Before  June 10, 2026?

Who Is Eligible to File a Claim?

Eligibility is not limited to New York businesses — affected parties anywhere in the United States may qualify. Specifically:

• You may qualify if your business entered into an equipment finance lease with Leasing Expenses Company LLC or NLS Equipment Finance LLC and made payments on that lease.
• You may qualify if you made payments as an individual — not just as a business — to either company on a qualifying lease.
• You may qualify if you were a guarantor who made payments on a lease with either company.
• You may qualify if your lease covered credit card processing equipment, check-reading machines, sign equipment, or any other equipment financed through these companies.
• You do not qualify if you already received full restitution through a prior proceeding — but note that if you previously filed a claim in the Northern Leasing Systems restitution process, you must still file a new, separate claim for this settlement. Prior Northern Leasing claims do not automatically carry over.

If you are unsure whether your payments went to Leasing Expenses Co. or NLS Equipment Finance, check your bank statements, lease agreements, and any correspondence from either company. Contact the settlement administrator at (866) 302-9947 or [email protected] for help confirming your eligibility.

How Much Can You Receive?

Unlike most class action settlements where a fixed fund is divided among claimants, this restitution is based on what the court ordered both companies to repay — the full amount of money you actually paid on your illegal lease.

The settlement administrator calculates your restitution using available company records showing the total payments you made to Leasing Expenses Co. or NLS Equipment Finance. You also keep any equipment you leased as part of your restitution award — you do not need to return it.

Key points on your payout:

• Your restitution equals 100% of the payments you made on the illegal lease, based on available records
• If company records are incomplete or do not fully reflect your payments, submit your own documentation to support a higher claim amount
• Payments made as a business, individual, or guarantor all count toward your total
• Claimants who already received partial restitution through an earlier proceeding may receive only the remaining unpaid balance

This type of full restitution order — where defrauded businesses get every dollar back — is rare and significant. It reflects the strength of the Attorney General’s case and the court’s findings that these companies committed outright fraud, not just a breach of contract. For a broader look at how predatory financial practices affect small businesses and individuals, the Experian class action lawsuit provides useful context on how deceptive practices by financial services companies can harm consumers and what legal protections are available.

How to File a Claim

Step 1 — Visit the official settlement website at LEC-Restitution.com to complete and submit your claim form online. Alternatively, call the settlement administrator at (866) 302-9947 or email [email protected] to request a paper claim form by mail.

Step 2 — Gather your supporting documentation before filing. Acceptable proof includes lease agreements or contracts with Leasing Expenses Co. or NLS Equipment Finance, bank statements or cancelled checks showing payments made, invoices or billing statements from either company, and any correspondence you exchanged with either company.

Step 3 — Complete the claim form with your full contact information, details about your lease, and the total payments you made. If you filed a prior claim in the Northern Leasing Systems restitution process, you must still complete a new, separate claim form — prior claims do not transfer.

Step 4 — Submit your completed claim form and supporting documentation online by June 2, 2026. If filing by paper mail, postmark your claim by June 2, 2026 and send to: Leasing Expenses Co. Restitution, c/o A.B. Data Ltd., P.O. Box 173037, Milwaukee, WI 53217.

Step 5 — Keep a copy of your submitted claim and all supporting documents. The administrator may contact you if additional information is needed to verify your claim.

Estimated time to complete: 10–20 minutes (longer if gathering bank statements or correspondence from multiple years).

Important Deadlines & Dates

Milestone	Date
Northern Leasing Lawsuit Won by NY AG	June 2020
NLS EF & LEC Permanently Barred by Court	February 2021
NY AG Lawsuit Filed Against LEC & NLS EF	November 2020
NY County Supreme Court Judgment Entered	September 25, 2024
Total Restitution Secured	Over $4,600,000
Claim Filing Deadline	June 2, 2026
Opt-Out Deadline	N/A — court-ordered restitution, not a settlement class
Final Approval Hearing	N/A — judgment already entered
Expected Payment Date	TBD — after claims processing by A.B. Data Ltd.

Frequently Asked Questions

Do I need a lawyer to file a restitution claim? 

No. You can file your claim directly through the official website at LEC-Restitution.com or by requesting a paper form from A.B. Data Ltd. at (866) 302-9947. The New York Attorney General’s office handled the litigation — you do not need your own attorney to participate in the restitution process.

Is this settlement legitimate? 

Yes. This restitution stems from lawsuits brought by the New York State Attorney General under Executive Law §63(12). The New York County Supreme Court entered a judgment on September 25, 2024 ordering Leasing Expenses Co. and NLS Equipment Finance to repay over $2.6 million, in addition to over $2 million already collected. The Attorney General’s press release confirming the judgment is publicly available at ag.ny.gov.

When will I receive my restitution payment? 

Payment timing is TBD. The administrator, A.B. Data Ltd., will process claims after the June 2, 2026 deadline and calculate each claimant’s amount based on company records and submitted documentation. Check LEC-Restitution.com for updates on the payment timeline.

What if I missed the claim deadline?

 If you do not submit a claim by June 2, 2026, you may not receive restitution from this proceeding. Unlike a class action settlement, there is no automatic opt-out or opt-in process — you must affirmatively file a claim to receive your money back.

Will my restitution payment affect my taxes? 

It may. Restitution payments that return money your business previously deducted as a business expense may be treated as taxable income in the year you receive them. Consult a tax professional or accountant familiar with small business taxes for guidance specific to your situation.

I already filed a claim in the Northern Leasing Systems case. Do I need to file again?

 Yes. The Northern Leasing restitution process and this Leasing Expenses Co./NLS Equipment Finance restitution process are separate legal proceedings. If you previously filed a claim against Northern Leasing, you must file a new, separate claim at LEC-Restitution.com to recover money paid specifically to Leasing Expenses Co. or NLS Equipment Finance. Prior claims do not automatically carry over.

What if I no longer have my lease agreement or payment records?

 File your claim anyway. The settlement administrator will use available company records to verify claims and calculate payments. If you can gather any supporting documents — bank statements showing deductions, cancelled checks, or billing correspondence — submit them with your claim to help ensure accurate processing. Contact the administrator at (866) 302-9947 if you need guidance on what to submit.

My business closed. Can I still file a claim for payments the business made?

 Yes. Former business owners and their representatives may file claims for payments the business made on an illegal lease. If the business has dissolved, you may need to provide documentation of your authority to file on behalf of the former business entity. Contact the administrator at [email protected] for guidance on how to file in this situation.

Sources & References

• LEC-Restitution.com — Official Settlement Website
• New York Attorney General — Press Release: AG James Secures Over $4.6 Million for Small Businesses from Northern Leasing Affiliates, September 30, 2024
• New York Attorney General — Northern Leasing Systems Lawsuit Resource Page
• New York Attorney General — Important Information About Northern Leasing, NLS Equipment Finance, and LEC

Last Updated: March 22, 2026

Disclaimer: This article is for informational purposes only and does not constitute legal advice. Legal claims and outcomes depend on specific facts and applicable law. For advice regarding a particular situation, consult a qualified attorney.