[NoBigDeal]

Crazy, but true. Bumped into a file where the merchant recently had judgments filed in total of $11.4 Million, all from MCA companies.
Easily the most I've ever seen a single merchant screw over that many Funders.

Curious to know what the largest amount in defaults you've seen? Or the most amount of Funders in a given deal that popped?

[Michael I]

wow 1.75 million is the largest i saw

[NoBigDeal]

16 different judgement amounts. It's possible more will show, but HOLY CRAP! How do merchant's get away with taking out this much and Funders not catch on to it?

[The Chosen One]

Question is, who will be next to stack it?

[abfunders]

There's a $12.8mm one now out right now as of last week. Look up Dual Diagnosis.
(It's an MCA deal structured as a factor, don't get confused!)

[NoBigDeal]

There's a $12.8mm one now out right now as of last week. Look up Dual Diagnosis.
(It's an MCA deal structured as a factor, don't get confused!)

Damn! Is that all with one funding company? Or combined?

[Hedley Lamarr]

I have seen two recently both of which will be in trouble sooner than later and there is a bank or factor ahead of all the advances. $12Mil and $9Mil. I have seen both of these deals multiple times from multiple sources.

[happyman]

Crazy, but true. Bumped into a file where the merchant recently had judgments filed in total of $11.4 Million, all from MCA companies.
Easily the most I've ever seen a single merchant screw over that many Funders.

Curious to know what the largest amount in defaults you've seen? Or the most amount of Funders in a given deal that popped?

whats the name of the deal?

[WestCoastFunding]

16 different judgement amounts. It's possible more will show, but HOLY CRAP! How do merchant's get away with taking out this much and Funders not catch on to it?

I wonder how many of those stacked positions stacked within 24 hours of each other.

[WestCoastFunding]

Question is, who will be next to stack it?

Midnight Advance. All day.

[Karen37a]

I wonder how many of those stacked positions stacked within 24 hours of each other.

Doc u sign...timed well


I missed my calling, in on the wrong side of the street

[mcaguru]

Crazy, but true. Bumped into a file where the merchant recently had judgments filed in total of $11.4 Million, all from MCA companies.
Easily the most I've ever seen a single merchant screw over that many Funders.

Curious to know what the largest amount in defaults you've seen? Or the most amount of Funders in a given deal that popped?

did you see the list of funders ? if yes can you write the here ?

[NoBigDeal]

did you see the list of funders ? if yes can you write the here ?

Business name: Namr 2617
Defaulted on the following including judgment amounts:

-24 capital $403K
-24 capital $532K
-Lex $441K
-Lex $632K
-Accel Capital $2.04M
-Accel Capital $2.03M
-Accel Capital $1.2M
-Accel Capital $236K
-Ace $292K
-Viceroy $460K
-Viceroy $836K
-Richmond $278K
-Richmond $320K
-RAM $630K
-ADDY Source $524K
-Mzeed $545K

Again- all these judgments were filed recently so I'm sure the list will grow in the coming days

but JEEEEEEEEZZZZZ

[mcaguru]

Business name: Namr 2617
Defaulted on the following including judgment amounts:

-24 capital $403K
-24 capital $532K
-Lex $441K
-Lex $632K
-Accel Capital $2.04M
-Accel Capital $2.03M
-Accel Capital $1.2M
-Accel Capital $236K
-Ace $292K
-Viceroy $460K
-Viceroy $836K
-Richmond $278K
-Richmond $320K
-RAM $630K
-ADDY Source $524K
-Mzeed $545K

Again- all these judgments were filed recently so I'm sure the list will grow in the coming days

but JEEEEEEEEZZZZZ

Holy Smokes..!

[Andy]

Business name: Namr 2617
Defaulted on the following including judgment amounts:

-24 capital $403K
-24 capital $532K
-Lex $441K
-Lex $632K
-Accel Capital $2.04M
-Accel Capital $2.03M
-Accel Capital $1.2M
-Accel Capital $236K
-Ace $292K
-Viceroy $460K
-Viceroy $836K
-Richmond $278K
-Richmond $320K
-RAM $630K
-ADDY Source $524K
-Mzeed $545K

Again- all these judgments were filed recently so I'm sure the list will grow in the coming days

but JEEEEEEEEZZZZZ

That file has been around a long time, with defaults in the past on other funders before all those companies funded them recently.

[NoBigDeal]

That file has been around a long time, with defaults in the past on other funders before all those companies funded them recently.

Good to know, if you're a broker and looking to find a funder that will overlook (or not even catch) past defaults...just saying

[Lmonus]

Business name: Namr 2617
Defaulted on the following including judgment amounts:

-24 capital $403K
-24 capital $532K
-Lex $441K
-Lex $632K
-Accel Capital $2.04M
-Accel Capital $2.03M
-Accel Capital $1.2M
-Accel Capital $236K
-Ace $292K
-Viceroy $460K
-Viceroy $836K
-Richmond $278K
-Richmond $320K
-RAM $630K
-ADDY Source $524K
-Mzeed $545K

Again- all these judgments were filed recently so I'm sure the list will grow in the coming days

but JEEEEEEEEZZZZZ

1 Bounce on Richmond and they file COJ - Everyone in the deal gets screwed. Happens often.

[Karen37a]

If that is who I think it is . That guy is a pric*. he is all smug on the phone and has his girlfriend mistress trailer park woman laughing at his jokes sitting next to him, saying yeah ill take more money. I hope they arrest him for fraud.

amazing he slipped by

[NoBigDeal]

1 Bounce on Richmond and they file COJ - Everyone in the deal gets screwed. Happens often.

Nowadays, there are funders who'll file a coj "by mistake" just to claim their territory on a merchant and *BAM* no other funder will touch them (except I guess Midnight...if the story makes sense)

[PCFund]

"by mistake" aka Richmond

[Karen37a]

Business name: Namr 2617
Defaulted on the following including judgment amounts:

-24 capital $403K
-24 capital $532K
-Lex $441K
-Lex $632K
-Accel Capital $2.04M
-Accel Capital $2.03M
-Accel Capital $1.2M
-Accel Capital $236K
-Ace $292K
-Viceroy $460K
-Viceroy $836K
-Richmond $278K
-Richmond $320K
-RAM $630K
-ADDY Source $524K
-Mzeed $545K


Why would anyone want to pay this back? Business name Namr 2617

default

reincorporate under Namr 2618

default

2619

[Karen37a]

This is not supposed to be a game of who can get the most advances out and default...anyone can do that

its who can get the money back turn a profit ...do it again

this is actually embarrassing

Then some wonder why I hate defaults...that guy is laughing at you

[WestCoastFunding]

Great job, Accel.

[Shorebird]

It actually makes my day when I see funders who have no qualms about backdooring an ISO get burned.

I have learned in life what comes around goes around.

[Karen37a]

Great job, Accel.

lol

Then you have to listen to some of them playing finance...like Trump game monopoly board . with their industry jargon


Well I am not sure if "algorithms" is your" core competency", we can" flash" the idea around to see if we can get a "buy-in", it seems like this company is on the "bleeding edge" and this is not one of our "verticals"...we will put out some "feelers"...but I think you guys are drinking the" kool-aid" do you think they have the "human capital" to get this done, let us get our "ducks in a row", we cant work in "silos" and meet the deadline., but ill get back to you.

short response
In other words you are broke...get off my phone...dial tone
--
Well that wasn't very lady like or professional

It actually makes my day when I see funders who have no qualms about backdooring an ISO get burned.

I have learned in life what comes around goes around.

I agree