Results 1 to 9 of 9
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11-08-2017, 11:46 AM #1
Florida
http://usurylawblog.com/2017/11/mca-...to-defendants/
Was this a fixed repay program?
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11-08-2017, 12:30 PM #2
Reputation points: 832
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- Aug 2017
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- 39
yes this was a cash advance the laws in Florida make it hard to collect if a merchant defaults had a guy go bad once in FL and he turned around and tried to sue the funding company for usery
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11-08-2017, 12:37 PM #3
Reputation points: 2218
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- Apr 2013
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- NY
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The court ruled against the funder simply because the funder did not respond. So the plaintiff was granted a default judgment. It does not set any precedent. Its pretty crazy that the funder did not respond. Maybe they did not properly get served.
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11-08-2017, 12:50 PM #4
Reputation points: 15507
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Wouldn't this be null without being served properly?
High risk paper
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11-08-2017, 12:56 PM #5
The merchant was sued first and counter sued for usury
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11-08-2017, 01:06 PM #6
Reputation points: 832
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11-08-2017, 01:58 PM #7
Reputation points: 198007
- Join Date
- Mar 2017
- Location
- Nunya
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- 830
Did you read the article?
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11-09-2017, 09:07 AM #8Karen37aGuest
They will all counter sue for usury if they get a lawyer ...or criminal usury.
That's why I flipped out on a Funder who likes to default on people as an added bonus $$, another way they make extra income.
I didnt need to have a merchant sue me along with them, so I just fixed it and brokered the full payoff
And they were going to get sued because the Merchants girlfriends brother is a lawyerLast edited by Karen37a; 11-09-2017 at 09:13 AM.
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11-09-2017, 09:21 AM #9Karen37aGuest
** Funders need to watch who handles their collections and if the person want to pay it back, let them.
no muss no fuss ...money is returned...thats the best wayLast edited by Karen37a; 11-09-2017 at 09:24 AM.
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