[soccercoach]

Merchant is a doc and does 50-60k a month and just recently got suckered in to one of those debt settlement companies to settle out of 2 loans. They were having a tough time with the big daily payments and apparently the lenders wouldn't work with them hardly at all so they decided to do it.

Now they're covering the fees and whatever else and will be leveled out in a couple of months but need about 5-10k for just a short time. Daily balances are back up to 3-5k, sometimes up to 10k. June they did 57k. The new bank accounts are set up, just need a little to float them for the next couple of months, a small MCA.

Anyone high risk lenders able to touch this?

[aredmond]

Merchant is a doc and does 50-60k a month and just recently got suckered in to one of those debt settlement companies to settle out of 2 loans. They were having a tough time with the big daily payments and apparently the lenders wouldn't work with them hardly at all so they decided to do it.

Now they're covering the fees and whatever else and will be leveled out in a couple of months but need about 5-10k for just a short time. Daily balances are back up to 3-5k, sometimes up to 10k. June they did 57k. The new bank accounts are set up, just need a little to float them for the next couple of months, a small MCA.

Anyone high risk lenders able to touch this?

So they screwed over 2 lenders and want to screw over a third? lol pass.....

[Chambo]

Merchant is a doc and does 50-60k a month and just recently got suckered in to one of those debt settlement companies to settle out of 2 loans. They were having a tough time with the big daily payments and apparently the lenders wouldn't work with them hardly at all so they decided to do it.

Now they're covering the fees and whatever else and will be leveled out in a couple of months but need about 5-10k for just a short time. Daily balances are back up to 3-5k, sometimes up to 10k. June they did 57k. The new bank accounts are set up, just need a little to float them for the next couple of months, a small MCA.

Anyone high risk lenders able to touch this?

Tell the merchant to go to hell....should have never signed up with Debt Settlement company. Their loss

[Anthony@torro]

Chambo said it best.

[WestCoastFunding]

There is zero chance of him getting funded because there is zero chance of a funder getting paid back. He actually has some nerve. You should say that to him.

[ridextreme]

yup and stop trying to beat a dead horse move onto the next file this "doc" is not getting any more loans. Try to move on and find another one that's above ground and breathing.

[Karen37a]

You can always fund him yourself.

[ADiamond]

without name dropping i can tell you there are multiple lenders with poor UW whom have funded defaults, and continue to do so. just have to find lenders with weak UW practices

[Nikkiclean06]

i have done deals like this and funded with Aquila YW

[soccercoach]

I got this one funded. Someone had a program called "rebuilder advance" and though it's only 5k and a 1.49 over 60 days, all in all they would not have had the chance to get the funds anywhere else. The amount will go up and the rate will go down once they pay on it a while. (2nd chance loan)

I was fully transparent with the lender and they worked with me to get it done.

If you run into this situation, let me know and I'll help you through it.

[ChuckM]

Does he do workers comp or no fault work? If so he should sell is aging receivables.

[MCNetwork]

I got this one funded. Someone had a program called "rebuilder advance" and though it's only 5k and a 1.49 over 60 days, all in all they would not have had the chance to get the funds anywhere else. The amount will go up and the rate will go down once they pay on it a while. (2nd chance loan)

I was fully transparent with the lender and they worked with me to get it done.

If you run into this situation, let me know and I'll help you through it.

Don't spend your commission yet

[soccercoach]

Don't spend your commission yet

Oh yeah because that $350 clawback is going to put me in the poor house

[golf2014]

He got funded n thevecperts said no way..lol