[MCNetwork]

you keep preaching, "do your due dilligence, research each funder before you send a file to them, blablabla" Well how the hell do you expect us to do that if you're basically shutting down the ****ing library?!

Due diligence means speaking to references and other ISOs that use a particular funder. It means asking industry veterans how they feel about so and so company. It means looking at business complaint sites like Ripoff Report or mugshots.com. It doesn't mean relying on unsubstantiated rumors from anonymous posters with bones to pick on a public forum.

[admin]

The benefits to others from posting these experiences far outweigh the costs.

I understand where you're coming from. Truly. However, on costs, only we can make that call. DF does not exist in a legal void immune from liabilities.

You can voice your negative experiences in a way to constructively engage the company with which a negative experience occurred. You can explain what happened if the goal is to get a resolution.

I guarantee you that nobody is coming on here and bashing a funder or broker just for kicks.

You actually can't guarantee that. And it's simply not true. We have experienced plenty of extreme situations that we can't discuss.

Further, it would be naïve to believe that this forum is just spreading information amongst each other. Consider that it is readily accessible to regulators, legislators, law enforcement, attorneys, and news media. They are reading.

If you are so down and out on behavior amongst your peers, there are steps you can take to improve the industry itself. Join a trade association, start your own trade association, preach best practices, become a role model that others want to follow. Don't do business with the bad actors and let them suffer their own fates or report their behavior to a trade association, or if you've actually witnessed a crime, report them to law enforcement. Positive change requires real initiative. Come up with your own ideas.

[Eagle Funding]

I think he was just trying to warn us that this is going on with set person, and maybe if lets say it happens to three of us we could put pieces together and figure out with lender is doing it or if there is just one bad apple at a big lender.

[Karen37a]

Partial Due Diligence is the first step into finding out about companies but NOTHING replaces live personal experience or a recommendation from a trusted friend.

In regards to checking mugshots etc. Most states do not blast people's minor crimes that they are exonerated on OR accused of not convicted OR even convictions. What's to stop someone from having a "figurehead" Ceo meanwhile you are dealing with Gotti or Myer Lansky or their cousin and you do not even know it.Full background checks are what disclose the truth.. You are going to require that the Funders you sign on with do a background check on themselves? I think some people refer to the MCA industry as "loan sharks"

There is absolutely no way a public board or Admin can police who is actually being backdoored or who lost the sale to competition ethically.

I myself lost deals, 4 and I am still pissed, all A paper but when a few deals were slipping from my hands I would have sworn it was being backdoored...Merchant saying..nooo I am not shopping around. Until I hit the credit. And there they are, shopping all over the place; 10 inquiries...and I call them on it. Then they say no not me; until I persist then its "oh yeah I did check into rates with someone else"

On the other hand, because you can not 100% tell if it was backdoored, or if an inside mole sent it to a friend or the merchant flat out lied to you, that ambiguity leaves open a door for the possibility of massive backdooring even from the so-called A paper ethical firms.They do not even have to backdoor because you sign an agreement saying it's their deal 14-30 days if you do not close it. Also "First to close" rules, and there are 2 sides to this argument as well. Brokers want protection while they are in process of closing, going thru underwriting stips etc and Funders/Super Isos get sick of some brokers/isos never following thru on deals; they leave massive paper behind and think Its theirs for life. Like "tag you are it" I reserve the whole east coast database on UCCS.

This forum did give information on Funders that were folding and reductions in commission and termination of inactive brokers and their renewals. It probably saved a few small isos commissions that if lost would have bankrupted them.There is a difference between people detailing real negative experiences with a company..(.where there is smoke there is fire) and other people intentionally slandering someone for revenge.

How can an admin ever tell the difference?

When you sue. ( which is why they have to lay down rules, TOS etc )

I myself left a company because of things that I didnt like. Wandered on here Under the name Karen when my name is Elizabeth because I was still working somewhere and I didn't want to be fired /blackballed or for them to think I am backdooring or a mole when I was not and other employees were...who knows.My non-compete in hand...went out the door with 15 other brokers to hear so called veterans tell me how much of a rookie I am. Knowing the truth., As Investors are pressing me to move 30 million into syndication without a syndication agreement, in a downward spiral market and the realistic ability to syndicate 2- 5 million cherry picking without turning myself into a hedge fund or investment advisor RIA.

The first step to fix these things is to not have small brokers, pose and pop sh*t all over the net then cry when it all comes crashing down

Only 2 ways to control the sale...Have the merchant on your side, loyal to you. Or make enough sales $$ to matter so they do not cut your throat. If you can't generate enough sales...Get with a reputable Iso, you are not going to survive alone.

[RickyR3712]

Question for you mr admin.
If you buy something from amazon from a third party seller and it turned out to be a scam.Do you write a bad review on ripoff,bbb or do you write it on amazon to warn the others ordering it from amazon? If i got someone from them advertising on this site and they scam me, hell yeah i am going to bash them on here.

[admin]

Question for you mr admin.
If you buy something from amazon from a third party seller and it turned out to be a scam.Do you write a bad review on ripoff,bbb or do you write it on amazon to warn the others ordering it from amazon? If i got someone from them advertising on this site and they scam me, hell yeah i am going to bash them on here.

If the bad experience is with someone advertising or soliciting on this site, point out where. There's a good chance they'll constructively engage with you on the issue if they're already on here. And if they don't answer to any of it at all, they could potentially get banned.

Some of the threads in question lately have been about random people and companies who aren't even on the site or don't market anything here. In that sense it is like buying something at Staples and then leaving a bad review on Amazon for a product that Amazon doesn't even list.

[Funder Mark]

In that sense it is like buying something at Staples and then leaving a bad review on Amazon for a product that Amazon doesn't even list.

Disagree. This forum is used as a general forum for alternative finance, not to sell specific products or companies. Your example is correct, that would not make any sense. For someone to go to company XYZ to complain about company ABC makes no sense.To come here and complain about a bad experience you had is often the only effective way an ISO has to get some justice from a funder who may have messed them up on a deal. If posts get cut off, eventually people will leave the site, which will lower the value to everyone, including the advertisers.

[Yankeeman07]

Fantastic - this not the place for these types of Posts!

[admin]

I think there is a misunderstanding. Negative reviews can still be posted, but in a constructive manner.

It is the type of posts that resemble something like this that are creating a toxic environment lately:
"Company XYZ is a scammer and backdoors. I sent my deal and they stole it. Here is their name, phone #, email, links to their personal social media account and home address. Note to everyone: never do business with them. Here are some curse words about how I feel about them. Spread the word."


Regarding --- "If posts get cut off, eventually people will leave the site, which will lower the value to everyone, including the advertisers." I think a constructive environment will ultimately serve the community best, not a toxic environment of rampant accusations that serve no purpose other than to tarnish someone.

[admin]

If posts get cut off, eventually people will leave the site, which will lower the value to everyone, including the advertisers.

No one has ever cancelled their ad and said, "there's not enough freedom to accuse people of backdooring on here" as the reason.

[Funder Mark]

So give an example of how an ISO should put up a post?

[MCNetwork]

If an ISO is going to complain publicly about a funder or another ISO, then they should post their name and contact info. It's easy to be anonymous and lob accusations at people. Even on Amazon, people just pay attention to the reviews from verified purchases. People complaining on this forum should also be verified.

[RickyR3712]

I think there is a misunderstanding. Negative reviews can still be posted, but in a constructive manner.

It is the type of posts that resemble something like this that are creating a toxic environment lately:
"Company XYZ is a scammer and backdoors. I sent my deal and they stole it. Here is their name, phone #, email, links to their personal social media account and home address. Note to everyone: never do business with them. Here are some curse words about how I feel about them. Spread the word."


Regarding --- "If posts get cut off, eventually people will leave the site, which will lower the value to everyone, including the advertisers." I think a constructive environment will ultimately serve the community best, not a toxic environment of rampant accusations that serve no purpose other than to tarnish someone.

The way i wrote it in the below thread.Is that an acceptable way ? I fully understand the random brand new people who just come on throw a fit and disappear is a problem.
http://dailyfunder.com/showthread.php/10132-M-L-Factors

[Karen37a]

The reason there are TOS rules and website rules is that they are made to protect the website from 3rd party liability claims and helps warrant the individuals' ownership of the defamatory posts.

There are difficulties asserting damages to anonymous posters although it can be done thru subpeona.Actual Evidence must be asserted not just "good faith" assertions.

But this is not a video game or Financial Services "Catfish" where people pretend to be brokers and hurl accusations against people.
Demanding for the person to say their name yet they are using the name XYZ funding... or stephan2112

People did not make it in Financial Services because they are Sunday school teachers.Sometimes it isn't as simple as migrating to other sites, creating a new screen name or recreating a new Mca company.We are not saving the manatees. We are all competing for the same deals and there is big money and Big Egos attached to it. People are going under, taking millions and billions with them. Monitoring these sites is tough to do and in the end, the Admin has to answer for all the mistakes people make and try to stay neutral without getting pulled into the mix legally.

Sometimes you pick a fight with the wrong person not knowing it. I am smart enough to not enter the Grand MCA Titan, Gladiator Dome with sand and a rock as a weapon. I stay at the Intermediate table.

[anonymous]

The Communications Decency Act of 1996, 47 U.S.C § 230

[Karen37a]

The Communications Decency Act of 1996, 47 U.S.C § 230

There is a Safe Harbor under that law unless you prove malice.

I do not need to go to Tort Law class and debate tortfeasor damages.

It was boring the first go round

** and I am not a lawyer