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Thread: Giving up my PSL - Will Jets sue me?

  1. #41
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    Quote Originally Posted by Timmy® View Post
    so it has come to selling your seats for good teams, and enjoying a couple of pre-season games - along with the likes of Buffalo and Oakland regular season contests.

    investment gold
    This guy gets it.

  2. #42
    Quote Originally Posted by fortmeister View Post
    I have seats in Row 2 of Section 220a, next to the "club seats". These are great seats, but I don't want to keep renewing and taking a big loss on my tickets, so i am considering walking away and just not renewing, and forefeiting my PSL, which I originally purchased on the 15-year payment plan. Will the Jets let me just walk away, or will they sue me for the balance of the PSL? Has anyone had any experience with this?

    Thanks in advance.
    How come it seems like every two weeks we got someone with anywhere from 1-20 posts on JI asking about defaulting on PSLs or buying PSLs. It's almost like it's the same person who just wants to start a thread that gets controversial and then gets locked.

    Either way no one so far has been sued but I wouldn't be surprised to see that change this season. Before there was a market for the Jets to re-sell. Now not so much.

    While I do not believe you gave your social security number I'm sure the Jets could very easily submit your info to a collection agency. Be prepared then for harassing phone calls and whatever else they do. They could then possibly put a lien on your assets assuming you have some. Car? House? It could have a lien against it.

    If you bought PSLs for your own personal enjoyment and you came into hard times then I feel for you. If you expected to make a profit and thought you would make a killing well then you're a fool. As someone who buys and sells tickets as a side job I can tell you that Jets tickets aren't something to buy for simply re-sale value. Goes for most football teams the 2 preseason games right away means you need to sell at at least a 20% markup to make up your cost plus the 15% stubhub commission fees.

  3. #43
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    Quote Originally Posted by bobr68 View Post
    Whom do you use to sell? Thinking of parting with my cleveland tix....am I better to do ebay and include the parking? stubhub? nfl ticket exchange?
    Stubhub is definitely the way to go for sales. I sell our pair and do better selling the parking separately.

    1) except for the home giants game, preseason is a loss.
    2) I always make money on the night games
    3) we go to the "bad" games because the early start times are perfect for us. We have a good time, so it is all good.

  4. #44
    Quote Originally Posted by goarmysports View Post
    How many here actually bought in before the psl prices were slashed? For those that already paid in full what did the Jets offer to do with the credit you had?
    I would love to know this as well.

    I paid 10% on two seats in MezzA (total of $8,000) before they lowered the LLEZ to $2,500 a seat (total of $5,000) and they just transferred that money over, but I'd love to hear about those who were already in the LLEZ and what they received, if anything. If they didn't receive a thing I wouldn't be surprised at all.

  5. #45
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    Quote Originally Posted by 2009fatman View Post
    Damn shame so many got the short end of the stick with these PSL'S. The U.S. Tennis Association is stealing up Park land at Flushing Meadow Park for a once a year event, land the Jets could have easly had at a Bargin basement price to build their own stadium along side the Mets. Woody's biggest mistake was getting talked into sharing with the Giants, could have built a stadium his way, and sold out every game close to the Jets long time die hard fan base.
    It is completely naive to think that a new NFL stadium would be built without PSL's as part of the process.

    The Jets, in fact, bucked NFL trend by making 27,000 of their seats PSL-free, only the remainder having PSL's. For reasons unknown, the Giants have 82,500 PSL's of equal cost to their fans and they take no crap for it yet the Jets only have 55,500 PSL seats and we're the "evil-stadium of greed" team.

    And, for the record, Jets fans are cheap. They're always looking for a handout, always looking for a free-ride. A solo stadium in Queens would have had the same PSL's and the same gameday ticket prices. People seem to think that the cost of the stadium has something to do with the cost of the tickets. Couldn't be more wrong. Tickets go for what the market will bear, PSL's go for what the market will bear.

    Lastly, the "die hard" Jets fan base lives in New Jersey and Manhattan, only a few remain on Long Island. Those Long Island fans were in their 50's in the 1980's, they're in their 80's now and no longer attend games. Giants Stadium was sold out from 1984-2009, nothing has changed.

    SAR I

  6. #46
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    Quote Originally Posted by Jets337 View Post
    How come it seems like every two weeks we got someone with anywhere from 1-20 posts on JI asking about defaulting on PSLs or buying PSLs. It's almost like it's the same person who just wants to start a thread that gets controversial and then gets locked.

    Either way no one so far has been sued but I wouldn't be surprised to see that change this season. Before there was a market for the Jets to re-sell. Now not so much.

    While I do not believe you gave your social security number I'm sure the Jets could very easily submit your info to a collection agency. Be prepared then for harassing phone calls and whatever else they do. They could then possibly put a lien on your assets assuming you have some. Car? House? It could have a lien against it.

    If you bought PSLs for your own personal enjoyment and you came into hard times then I feel for you. If you expected to make a profit and thought you would make a killing well then you're a fool. As someone who buys and sells tickets as a side job I can tell you that Jets tickets aren't something to buy for simply re-sale value. Goes for most football teams the 2 preseason games right away means you need to sell at at least a 20% markup to make up your cost plus the 15% stubhub commission fees.
    The Jets didn't finance the PSL process, their banks did. If fans default on their loans, the banks will go after them. It won't be the big-bad-Jets suing their own fans. That's silly. It will be random finance company has mailed late notice after late notice, they'll make a few phone calls, and then they'll sell the debt off to a collection agency and ruin the fans' credit rating in the process.

    People default on their car loans all the time. It's not Hyundai suing its buyers; it's Hyundai Finance Corporation moving some paper around and selling off debt.

    SAR I

  7. #47
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    Quote Originally Posted by 124 View Post
    I would love to know this as well.

    I paid 10% on two seats in MezzA (total of $8,000) before they lowered the LLEZ to $2,500 a seat (total of $5,000) and they just transferred that money over, but I'd love to hear about those who were already in the LLEZ and what they received, if anything. If they didn't receive a thing I wouldn't be surprised at all.
    They had the price on their psl's lowered. Since they already had the best seats in the LLEZ, they were the big winners.

    When the price dropped, we were allowed to move down from Mezz A ($4K) to LLEZ ($2500) saving $1.5 on each seat.
    Last edited by Digetydog; 05-19-2013 at 10:37 AM.

  8. #48
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    Thanks to those that answered my question.

  9. #49
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    When PSL prices were lowered, those who bought at the higher prices also were lowered to the new amount due. Doubtful that anybody fully paid at the higher price because only a 10 percent deposit was due but the few who might have either got refunds or offered more seats or upgrades.

    FTR, as a Jet fan, I'm looking forward to attending all 8 regular season games and rooting for my younger faster well coached team to do better than expectation and give full effort. I think it will happen.

    Of course, I'm a Jet fan, not a ticket selling, pretzel eating closet Pat fan from the granite state.

    The only thing that can ruin the upcoming season would be any of Smith, McElroy or Simms not winning a fair QB competition and having to suffer through a final season of watching Buttfumble6 piss away game after game after game

  10. #50
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    One thing that people have made an issue is that the Jets did not get SS#'s before they granted credit for the PSL loans. As a result, some people think that a default will not show up on your credit.

    If the Jets don't pursue collections, that may be true.

    BUT - if the Jets (or their banks) sell the debt to collection agencies, they may attemp to get a judgment against you. If that happens, it is likely to show up on your credit report.

  11. #51
    Quote Originally Posted by Digetydog View Post
    They had the price on their psl's lowered. Since they already had the best seats in the LLEZ, they were the big winners.

    When the price dropped, we were allowed to move down from Mezz A ($4K) to LLEZ ($2500) saving $1.5 on each seat.
    Yes, I know, as I explained in my post that that is exactly what I did.

    What you're saying is they were refunded the money?

  12. #52
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    Quote Originally Posted by DBAKE View Post
    Lol!!!! Brilliant!!!
    + 1

  13. #53
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    Quote Originally Posted by Digetydog View Post
    They had the price on their psl's lowered. Since they already had the best seats in the LLEZ, they were the big winners.

    When the price dropped, we were allowed to move down from Mezz A ($4K) to LLEZ ($2500) saving $1.5 on each seat.
    Not only that but the worst seat in LLEZ (row one between goal posts) is miles better than the best seat in mezz A

  14. #54
    Quote Originally Posted by sg3 View Post
    Not only that but the worst seat in LLEZ (row one between goal posts) is miles better than the best seat in mezz A
    Row 1 in LLEZ has killer resale value though.

  15. #55
    Quote Originally Posted by sdJETSetter View Post
    Dont know the legal term, but how much do you own? Home? Car?
    I think there is a certain point that litigation becomes a non viable option.

    A close peep owes over 150k to the irs, but this peep doesnt have anything for them to take, nor garnish.
    Been years, and it doesnt look like he is getting any prison time either.

    Sure its case dependent.

    Good luck. Dont let the man intimidate you.
    The term you're looking for is "judgment proof"

  16. #56
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    Quote Originally Posted by sdJETSetter View Post
    Dont know the legal term, but how much do you own? Home? Car?
    I think there is a certain point that litigation becomes a non viable option.

    A close peep owes over 150k to the irs, but this peep doesnt have anything for them to take, nor garnish.
    Been years, and it doesnt look like he is getting any prison time either.

    Sure its case dependent.

    Good luck. Dont let the man intimidate you.
    If someone is on the verge of bankruptcy, they are judgement proof and walking away from a debt like a psl might be a valid plan.

    But, if someone is not in that situation, there are collection law firms that can obtain a judgement very efficiently. If you are not judgement proof, they can make things very uncomfortable.

  17. #57
    Quote Originally Posted by Digetydog View Post
    If someone is on the verge of bankruptcy, they are judgement proof and walking away from a debt like a psl might be a valid plan.

    But, if someone is not in that situation, there are collection law firms that can obtain a judgement very efficiently. If you are not judgement proof, they can make things very uncomfortable.
    I have a lawyer who can get anyone off who defaults on his PSL. Just use the insanity defense. You have to be insane to be a Jet Fan and even more insane to buy a PSL.

  18. #58
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    Quote Originally Posted by SAR I View Post
    It is completely naive to think that a new NFL stadium would be built without PSL's as part of the process.
    Ever hear of Gillette Stadium?

  19. #59
    Quote Originally Posted by FF2® View Post
    Ever hear of Gillette Stadium?
    Yeah, but don't you guys also have to pay like $100 just to park your car 2 miles away from the stadium?

  20. #60
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    Quote Originally Posted by Jetfan16 View Post
    Yeah, but don't you guys also have to pay like $100 just to park your car 2 miles away from the stadium?
    Usually $40 in private lots about 1/2 mile.

    I'm not saying we have is cheaper or better. Just disagreeing with the statement that its "naive" to think a new stadium can be built without PSLs.

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