[MidnightAdvance]

These Merchants that default, always have some song and dance why they blocked payments:

My account was hacked
The bank flagged it as fraud
A customer's check bounced
The account was negative
I had a heart attack/stroke

I never heard someone say F*** you I'm not paying.

[Karen37a]

lol

[Asset Advance]

Hahaha had some Asian construction worker in Alaska once tell me he used the 100k i got him to rebuild his temple.....

[mcaguru]

If everyone paid on time we would have enormous competition and factor rate would be 1.06.

[Karen37a]

Hahaha had some Asian construction worker in Alaska once tell me he used the 100k i got him to rebuild his temple.....

ha

I seriously caught one of my potential merchants in Vegas...the funding got held up on a Friday, he thought he was funded and took off.

I called his secretary and she said "he left for Vegas already" I said where.

I called the hotel later that night saying " where is my money!!" he didn't really fund and I killed the deal after that.

he said startled "how the hell did you find me",( i never told him the secretary told me)..I said I was having him followed ( as a joke).

I am sure someone else funded him

[HDF]

If everyone paid on time we would have enormous competition and factor rate would be 1.06.

What % of your deals don't pay on time if I may ask?

[Michael I]

i had someone who took a 50k paid back 51k out of 70k and said f... you paying a thousand for the money is fair and i am not paying any more.
also had one that took the money and filed bankruptcy 2 days later and said thats life in america deal with it .

but most are what you said

[mcaguru]

they know I'm a big talker so they don't share those numbers with me.

[Karen37a]

If everyone paid on time we would have enormous competition and factor rate would be 1.06.

This is semi true. The money always has to cost more than the cost of capital which would be determined by the time value of money and potential vc ror and the risk associated with doing it.

Who invests to take a risk on losing everything for 2%-3% ( profit)..you can go bankrupt on one deal...one big merchant has a heart attack , too much money funded and you are under.

Not to mention the fact that everyone wants their money back when it doesn't work out...so they will charge you with everything but the kitchen sink to force a settlement, including rico

Why take the risk


**also you can invest elsewhere..so you are losing the potential gain even if you break even

[Karen37a]

This isnt mortgages where you have a lien, foreclosure and gain title to property that MAY come back with inflation or you sell at a loss

This is like investing in a stock that goes under completely..done

Huge risk...unless you have a secured interest.

** this is why companies did not price correctly

[Karen37a]

Crickets ...back to laughing at the merchants again.

I had a merchant text me instead of his wife saying" ...lets just get the money and worry about paying after"

I called and said " you fool you are texting me and not your wife" He said ..."so are we still getting the money."

not a chance in hell...and again I am sure he funded with someone else lol

Also brokers emailing me and I can see the long list of people emailed before and things they said

[HDF]

they know I'm a big talker so they don't share those numbers with me.

So you get paid to spout BS and know nothing. Got it.

PS: If you don't know at least the approximate default ratio of the operation you work for, you got problems. (doesn't mean you share it with everybody though)

[MidnightAdvance]

If everyone paid on time we would have enormous competition and factor rate would be 1.06.

Correct, but my question was why people are ashamed to "say" F** you I'm not paying, but not ashamed to actually do it..

[nrh1lp]

^Don't try and rationalize stupidity. It's like playing chess with a 5 yr old, even if you get them in checkmate odds are they will just flip the board and throw a tantrum.

[Michael I]

So you get paid to spout BS and know nothing. Got it.

PS: If you don't know at least the approximate default ratio of the operation you work for, you got problems. (doesn't mean you share it with everybody though)

Don't let his stupidity on this site fool you .He knows everything about everyone

[HDF]

Don't let his stupidity on this site fool you .He knows everything about everyone

Oh, I am well aware. Just would be refreshing to see if he wouldn't outright lie one time. This occasion was not it.

[Kevin Henry-Seacoast]

Never negotiate with stupid and don't compete with crazy.

[Karen37a]

Correct, but my question was why people are ashamed to "say" F** you I'm not paying, but not ashamed to actually do it..

In regards to the people who won't tell you f off.

Some are liars to being with, had no intention of paying the money once they got it in their hands, so to tell you "f off" could give you a clue to how nasty they are and how much of a con artist they are. They would rather pretend they didn't know what was going on if challenged for committing fraud.

Also they have egos and are prideful, selfish, cunning and don't like to tell people they are broke or failed at business.

( these are not everyday families taking out loans,* who still turn on a dime when upside down* sometimes these are seasoned cut throat business people...most do not make it that long in business, being self-employed not being slightly ruthless at times...especially in Finance or in Financial matters)

If they tell you f you...you might take action against them.Not saying anything at all gives them time to figure out their next move, either selling their business out from under you or going bankrupt.


Telling the truth would not help them in any way shape or form so they will never do it until it benefits them or they are backed to the wall or you lead them( thru wordplay) into turning on a dime.

Once you learn how to extract the f you out of them and the con they were pulling( ahead of time)...thats when you become a true sales person and say "the buyer is a liar"

There are books and seminars on the psychology of selling

[Karen37a]

Last example.

When I was a kid in High school( groan she is going back in time ) and worked for Ballys Jack La Lanne, Bally's total fitness and I was an aerobics instructor/salesperson( they called us "program directors")

I hated the top managers selling style...it was "Buy or Cry"...people "walked in" ( like car sales) and if you didn't join you literally left the Gym either punching the salesperson in the face or in tears crying.

The national sales manager told me " Be backs never come back and the buyer is a liar, and if they do not join they better come out of your office crying" I told him he was bitter and needed a vacation and not all buyers lie lol

I would give a tour of the gym like Vana white on wheel of fortune, waving my hands towards the equipment..." and these are the variable resistance exercise equipment" and here is the the pool ( wave arm and smile, point toes) its is x degrees ( I was 17)

One of my first walk ins told me he was going to "Be back", he was going to the bank to get the money. I stood at the door waiting for like 1-2 hours, looking out the window to see him pull into the parking lot.
The manager finally took pity on me and said "what are you looking at or waiting for, he isn't coming back"
I said, yes he is he is just going to the bank.

So he says " how does he get the money out of the bank.."

I said "atm card" ( light bulb went off) "OMG he had a visa card he could have paid for it, he LIED to me"

I took sales courses, made it to the top, eventually went off to wall st. then learned how to sell "over the phone", then learned insurance "door to door", mortgages, recruiting agents.

Most people will never go thru the work to learn how to master the science of selling or "craft" or psychology of the buyer.

So they say the sales profession is nothing but dumb luck, being at the right place at the right time, which is fine. If smile and dial is your thing, have at it. ( huge defaults).

Buyers are liars..., if you are great in sales they tell on themselves.

*** maybe the sales some people took from brokers were not really backdoored..some ethical brokers picked up clues on a future default or heard "debt restructuring" and let it go. ***

[golf2014]

The 40 cents on the dollar factors in late payments...hit n run...so it's figured in already. Plus the underwriters fee

[Karen37a]

*** the answer for those who are inquiring is.

Do not give a Tour of the Gym then try to sell a $3000 membership ( which is 10k in today's dollars)

Get the woman in your office, find out her husband left her for her best friend because she got fat....have a box of tissues handy and a blank ink pen.