"When TBF came on the scene in 1998, there were no businesses which were buying lease charge-offs on a regular basis."
TBF Financial created an industry - purchasing charged-off equipment leases.
In 1998, the principals of TBF believed that they could buy charged-off equipment leases from leasing companies at a price that would be attractive to those companies and would provide TBF a margin of profit. Until 1998, one of the principals of TBF had been a practicing attorney representing equipment finance companies and banks. It was he who first thought of buying charge-offs. He brought this idea to his partners, and they developed the business plan and then organized and capitalized TBF Financial.
At the time, there were no businesses which were buying lease charge-offs on a consistent basis. So, TBF was an innovator!
It turned out that TBF's vision was right. The leasing industry needed the services TBF offered and the equipment finance industry embraced TBF's program.
Since that time, TBF has broadened the type of commercial paper it buys. In addition to charged-off equipment leases, TBF also purchases written-off commercial bank loans and lines of credit.
Today, TBF Financial remains at the forefront of commercial debt buying for the finance industry.
as CFO of TBF, is principally responsible for overseeing and maintaining TBF's finances. Robert is a DePaul University Law School graduate who was admitted to practice law in the state of Illinois in 1966. Robert spent his legal career representing banks and financial institutions throughout the Chicagoland area. Before 1998, Robert had developed a sizable firm representing over 30 banks and financial institutions. Robert has since retired from the practice of law and devotes his full time to TBF.
is in charge of marketing and business development. Brett is very involved in the Equipment Leasing and Finance Association. Currently, Brett maintains an appointed position on the ELFA Credit & Collections Management Committee which plans their annual conference. Also, Brett has been elected to serve on the ELFA Business Council Steering Committee which plans the ELFA annual convention. Brett is a 1993 graduate of Indiana University and a 1998 law school graduate from The John Marshall Law School in Chicago. With a license to practice law in the state of Illinois, Brett managed his own law firm while participating in the creation of TBF.